Archive | April, 2020

Which one would you remember: “Pete and Earl’s Hair Salon for Men,” or “Best Head Salon?” How about “The Best Irrigation Installation and Repair” or “Dirty Boots Irrigation?”

Choosing a memorable name for your business, service or product can actually increase your business, for 3 reasons:

– People can remember it in conversation with others. “Check out the “Stealth Remodeler,” he does work during off-hours so he won’t bother your customers.

– People remember it each time they see it. They might forget a generic name and not realize they’ve seen it over and over again online in forums, on blogs and so forth. But a memorable name they will remember. “Hey, I see that product or service everywhere, it must be good!”

– People can remember it when they need your product or service. “I’ve got to get a new window, so I’ll call the one window place I remember: ‘Peek-a-boo Windows.’” Or, “I need help with my website SEO, I’ll Google ‘Naked SEO’ because I remember their name from an article I read.”

Everything else being equal, the catchy, memorable name will win the business.

The competition for your prospect’s attention is at an all-time high. Simultaneously, the time they have to pay attention to your message is at an all-time low. Combined, these two things make selling harder than ever, which presents its own opportunity…

Make it so easy for your customer to say yes, they practically don’t even have to think about it. How? By making them an offer they cannot refuse. (Cue music from the Godfather.)

Imagine two side-by-side offers. Both are selling programs on how to become an effective public speaker. Both are quite excellent – the prospect would do well to buy either one.

One program sells for $997, or 3 payments of $340. The other program says, “We are so confident you will love this program, we will ship it to you for the mere cost of postage. You pay NOTHING beyond shipping for a full 30 days. If, for any reason, you decide not to keep it, simply send it back and we will not charge you. But we’re confident you will never want to part with it, because it’s that good.”

Which program would you choose – the one where you pay $997 or $340 upfront? Or the one where you pay $12 for shipping and get to try it out before you decide? It’s a no brainer offer.

And you can do this with digital delivery as well. Charge your customers $1 today and the full price or the first payment in 30 days. Let them know you will send them an email 3 days prior to charging their card. Give them two ways to stop payment before it happens. And watch the sales roll in. Yes, a few people will cancel, but most won’t (if your product is solid). And you’ll make far more sales than you would by asking for all the money up front.

Positioned correctly, this technique can convey more confidence in your product than almost anything else. You are essentially saying to your customer that you will prove to them beyond a shadow of doubt just how good your product is, or they don’t pay anything. Now who can refuse an offer like that?

Are there really any good reasons NOT to launch your amazing new product? Take this quiz to find out so you don’t make the same critical mistakes that have destroyed many other businesses and entrepreneurs from the word GO…

Ok, check all that apply:

1. __ Another marketer has just launched a product very similar to yours, and if you launch your product now, you’ll look like a copycat.

2. __ You just got word that another launch for a similar product bombed in a very big way – almost no one bought it. You’ll look like an idiot if you launch your product.

3. __ A big guru in your niche just started the launch process of a very similar product. His first video is out, and once he releases the fourth video everyone on the planet will be promoting his product.

4. __ There are already several free versions of products quite similar to yours – thus there is no reason anyone would buy your product when they can get the same info for free.

Did you pick which scenarios should stop you from launching your product right now?

Okay, let’s see how you did.

Answers:

1. This happens more often than you think. And yes, product creators do pull their product launch when they see someone else has just launched something similar. And you know what? Those product creators are fools. Here’s a true story to illustrate why:

Recently a popular marketer was just about to launch a product he’d worked on for a long time. He had everything in place to launch – all he had to do was press the button to send out the first email.

But someone else launched a VERY similar product that was selling like gangbusters. So he decided not to launch. Which made him sad. So late that night, when he was feeling down, he said, “Screw it!” and hit the launch button. $61,000 in profits later, he was very, VERY happy he had launched his look alike product.

Do not worry about what others are selling. If you’ve done your research into what your customers want, you WILL make sales. And sometimes you’ll make those sales to the exact same people who bought your competitor’s product, too! Don’t wait, don’t hesitate – launch your product.

2. If their product didn’t sell, yours won’t either, right? Wrong. You’ve done your research and you know what your customers want. Your customers trust you. They like you. They buy your stuff.

So of course you’re going to launch your product, because whatever that other marketer did or did not have going on does not affect you. And neither do rumors, so don’t pay any attention to them. Stop second guessing yourself and launch your product.

3. Oh no, you can’t compete with the “big cheese,” can you? Who says you have to? Your customers are YOUR customers. Your affiliates are YOUR affiliates. It’s common for similar products to hit the market at nearly the same time and have both do well. So don’t worry about it. Just launch your product.

Have you noticed a pattern yet? I hope so. Okay, onto the last one…

4. What is the perceived value of “free?” Low. Very low. In fact, no free product can compete with your paid product, because as everyone believes, they get what they pay for. That’s why free is never your competition. So launch your product. Now.

In fact the only real competition you ever have is in your mind. So don’t worry about who is launching what or when they are launching. In fact, stop reading your emails when you’re in product creation mode and just focus on your task – creating the content and products your customers want. Everything else will take care of itself.