For Business Owners: Overlook The Pareto’s Law In Marketing If You Want To Fail…

In case you are wondering what the heck is the Pareto's Law, let me explain to you.

Simply put, it is the 80/20 rule.

 

 

How important is the Pareto's Law to marketing and your business?

Very.

Let's see. Applying this law to your business, you will discover that 20% of your customers will provide 80% of your revenue.

So what do you do to these group of premium customers?

 

Concentrate On Marketing More To Them, Silly!

 

I want you to think about the following questions:

• Who are your major customers?
• Do you treat them well?
• Do your understand their NEEDS? And more importantly, their WANTS?
• Are you following up with them?
• Are you providing value to them?
• Do you sell more than 1 time to them?
• If yes, how many times more?

 

After you have done so, do more of these:

1. Give them the best treatment you can. Nothing less than VIP!

How To Negotiate Your Way To Your Advantage Using A Deceptively Simple Trick…

Have you ever negotiate with someone who is a touch nut to crack?

One who makes you feel like spouting out words that will make even your mum blush in embarrassment?

And giving him a beating of his lifetime?

I'm sure we all have. Everyday we are all negotiating. It's just a matter of whether you make him see your point of view or he makes you see his.

 

Today, I'm going to reveal to you a simple negotiating trick. Perhaps you may even have done it before yourself, but you may not have realized it.

Okay. Say you are negotiating with someone, and you present an offer.

An offer you think is reasonable. For example, you offer to sell your car at $50,000.

And the person wants to bargain further. He wants to buy it at $45,000.

What do you do?

 

Use The Withdrawn Offer Method!

 

What is it? Let me explain.

Customer Is ALWAYS Right - Or Is He?

Conventional business wisdom states that the customer is always right. He can do no wrong. We are the service provider. We listen. We serve.

Spot on? Or BULL?

 

For me, I try to give value and go the extra mile for every client and partner I work with.

As much as I can, I try to accede to every request that is within my means and the scope of the working agreement. Because if I can make them happy, I have a loyal customer - for life!

And that customer can refer another customer to me and so on. It grows from there...

Having said that, customers can be a real PAIN in the ARSE! Especially when their demand goes overboard.

Case in point.

I offer a bonus package to a product I was promoting. Anyone that buys through me, gets a value-added bonus on top of a cash rebate.

This particular guy bought through me. Fair enough. I delivered everything that I promised. Even he couldn't deny that.

Negotiating With The Cab Driver - A Persuasion’s Tale

Happy greetings to all! 2008 is finally here. A successful and glorious year awaits you! Are you revved up already? I had a blast ushering the new year! I hope yours was just as good, if not better! Today, I want to talk about an event I encountered when I went for a short getaway break with my friends to Kuala Lumpur, Malaysia, 5 days ago. What I'm about to reveal to you soon ties in with some of the persuasion techniques I wrote about recently. As you can guess from the title, it revolves around an affair concerning me, my friends and a certain cab driver. Wanna hear more? Read on... Warning: It is gonna be a long entry but an interesting one... That I assure you... This is what happened... Over the weekend, I went up to Kuala Lumpur with 3 friends. There was the four of us - 2 guys, 2 gals. We wanted a good refreshing break after a whole hard year of work! And we certainly got it in Malaysia! On our second day of the getaway, we decided to go up to Genting Highland - a popular holiday haunt in Malaysia. Genting Highland is famed for it's cool air, huge theme park and casino. I was pretty excited because it was going to be my very first time up there. But first, we had to settle how to get there from our hotel. We decided on a cab. Through the hotel's concierge, we got a cab to bring us on a one way trip up for 110 Ringgit (Malaysian currency/RM). Initially the concierge's staff wanted to offer us a two way package with the returning trip at the same price - 110RM. But we decided against it as we knew we could return back at a cheaper rate. So that was it. We got into the cab. And the cab driver greeted us warmly. As we moved off and got into our journey to the highlands, we engaged in a little banter with the driver. He asked us where we are from, and we told him we are from Singapore. And he proceeded to talk about how Genting was like, and how treacherous the journey up can be (visitors have to travel up a 60 KM long winding road and many accidents have taken place along there before due to the numerous steep and sharp corners). He went on to explain to he was working for the hotel. And he confided to us that he only received a cut of the 110 RM we paid for, as hotel takes in a commission. He asked us how we are coming back. And that's when we knew it. He wanted to take us back. We are fine with going back with him. He is a pretty funny guy and we enjoyed the initial conversation we had. The question now is - how much? He offered to fetch us back - at the same price we paid for the trip up. We are certainly not intending to pay 110RM again.

The Negotiation Has Begun!

How To Build Trust Between You And Your Customers

The trust factor.

Yes. The all important trust factor.

 

 

 

 

Usually, we just talk about producing quality service and fit your clients' requirements.

However sometimes, it boils down just to if your clients trust you enough. You may have all the quality in the world, but if your client don't trust you, that means no deal for you.

 

Think about it.

Do you realize you are more willing to listen to an offer or even make a purchase just because a friend recommended you?

See. It's because you trust your friend. You are more inclined to take that first step to look into it.

Rather then toss them aside as you would for most other propositions that are blasted your way.

The 'Trust' factor. Remember it.

 

How To Establish THE Trust Factor

 

1. Communicate.

Talk to them. Understand their problems. And answer their every questions, queries and doubts.

How To Get People To Open Up

Have you ever met someone who is just simply closed to all ideas and suggestions?

One who is skeptical?

 

 

And one who cast a wary eye on just about anyone and everyone, maybe even his grandmother?

Actually, if you notice more closely...

You will notice one thing...

Most of these people usually exhibit this body language..

 

They Have Their Arms Folded!

 

Aha!

Arms folded. And their mind are also folded too.

If you unlock their arms, you unlock their mind.

Now...just how to unfold their arms?

Let me narrate to you a story...

 

I was having a meeting the other day at a company together with my colleagues and their management. We were presenting a collaboration plan.

A senior guy from the company just came in halfway to listen in for a while.

He had his arms folded - a sure tell-tale sign of skepticism and maybe to display his authority.