The World's Best Book Summaries
Does your business have a market positioning strategy? What path should you take to beat out the competition? In their book Positioning, Al Ries and Jack Trout discuss market positioning strategies for established market leaders, aspiring market leaders, and established leaders entering a new market. Regardless of your position now, there’s a strategy that fits your business. Keep reading to learn about these market positioning strategies.
Do you know how to name a product? Why is this your most important marketing decision? In Positioning, Al Ries and Jack Trout argue that selecting a product name that supports your claims is crucial to positioning your product in the market. They explain why you shouldn’t underestimate the power of a name and provide guidance on how to (and how not to) name a product. Continue reading to learn how to name a product to position it for success.
Have you just launched your first product? What is the most affordable way to publicize it? As a startup, it’s unlikely you’ll have much to spare on promotion. The good news is that there are plenty of ways to promote your business without spending any (or much) money. In this article, we’ll share 10 principles of startup promotion on a tight advertising budget.
What is the key to securing B2B sales? How does the business-to-business sales approach differ from business-to-customer’s? B2B and B2C sales approaches are polar opposites. With business-to-business selling (B2B), it’s important to make sure you’re talking to the right person at the company. For business-to-customer sales, you need to cast a wide net in your marketing efforts to reach lots of people at once. Keep reading to learn about B2B and B2C sales strategies.
How often should you upgrade your products? What should you do if customers request to add features to existing products? An important element of running a business is deciding when and if you should make improvements or upgrades to your product. Customers may request product upgrades or modifications, but that doesn’t mean you should make them before you are ready. Here is why you should hold off product upgrade requests—even if it means your customers outgrow your product.
What does it mean to sell experiences? Why do people identify more with experiences than material goods? Sales specialist Daniel Pink says that you should always try to get buyers excited about the experience of using a product rather than about the product itself. This is due to a number of factors, including the fact that experiences are easier to relate to and that customers are motivated by emotions. Here is why you should sell experiences, not products.
What perception do customers have of your business? Has there been any incident that put a stain on your reputation? What were the consequences? Your business reputation is what people think about your business based on their personal experience and what they heard from others, whether it’s true or not. A good reputation helps you attract new customers and retain existing customers. A bad reputation can wreak havoc on your business, turning away both customers and employees. In this article, we’ll tackle how to manage your company’s reputation in good times and bad.
How do you get customers for your business? Why should you start with selling to people you know? Businesses that figure out how to get customers maximize their networks and leverage cold calling. Your network is the list of people you already know that will be willing to buy from you, while cold calling involves reaching out to potential buyers that you don’t know personally. You should always start with people you know because they want you to succeed and you are already familiar with their expectations. Read on to learn more about how to get customers for your business.
Have you ever conducted philosophical thought experiments? How can they help you reach your goals? Philosophers aren’t the only ones who use thought experiments. Anyone who has a big task to undertake or a huge goal to reach can play with thought experiments. Think of them as a form of unstructured play that can unleash your curiosity and creativity, pushing you toward new ways of thinking and doing things. Keep reading to learn how to use philosophical thought experiments.
How do you deal with negative comments on social media? Why do you need social media for sales? Negative comments on social media can tarnish your brand reputation which affects sales. You can deal with negative comments by preemptively creating a positive brand image, and addressing the complaints of unhappy customers as soon as possible. You need social media for sales because it helps new buyers find you, and it reminds existing customers of your existence. Read on to master how to deal with negative comments.