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Monday, April 20, 2015

Wisdom of Mouth: SVM Global Update for Monday April 13th 2015

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Saturday, March 28, 2015

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Friday, March 13, 2015

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Monday, March 2, 2015

Value: A Key Element of the New Economy



There's no question that value is going to be the most important element of the buying decision for most consumers during this recession. But, it isn't just the consumer that has this in mind. Our entire society is beginning to question the mindless consumerism that has created environmental nightmares and economic bubbles that collapse, leaving many destitute overnight. Slow, and steady growth is a way to create real value in one's life and also to preserve it when a downturn occurs. And, for that, you need products and services that meet a “real” need, that last a while, and that are reasonably priced.

What's A Real Need?

The focus in a sustainable economy is to produce items that provide real value to the user or society. So, you see that even though oil is the basis of our energy economy, there is a whole lot of talk about increasing incentives so that green businesses can come into their own. There is a real need to provide energy that is not dependent on foreign oil and green alternatives will meet that real need.

For consumers, a real need can translate to any of the products or services that have to be purchased, regardless of the state of the economy. These are food, fuel, shelter, clothing, and health care. For those that are out of a job, retraining them in skills will make education a “real” need too. So, anything that is catering to the needs of the marketplace and solving an economic problem is going to be a real need at this time. It doesn't mean that other products and services won't be able to sell online, just that some market niches are more recession-resistant than others based on the value of that product or service.

Longevity

Clothing retailers are seeing people focusing on apparel that lasts, rather than quickly opting for the cheapest option. That might mean that fashion or fads are less desirable and classics are in. Real fabrics that last longer may be seen as a better value than synthetics or items that need dry cleaning to maintain. Quality will determine longevity and retailers are now reducing choice to stock up on high-quality classics, where people know they are getting good value.

Reasonable Prices

If you can't offer something for a reasonable price, then don't bother to offer it at all. This is especially true of the marketers that catered to middle-income people who were trying to raise their status through buying more designer wear or “image”-conscious buys. The income level of the middle class has been downgraded, for the most part, and price is now a vital concern for many. But this doesn't mean you have to completely slash your prices; just make sure you provide the best value for the money and you will continue to attract customers.  

Friday, October 31, 2014

Time To Re-Evaluate Your Market Niche


There are offline businesses going into bankruptcy everywhere. In a time of prosperity, people rush to buy the latest electronic gadget or to get the latest bath accessories, one for each change of the season. So, your market niche may have done well when the economy was doing well, but now you've noticed a down tick in purchases. What's going on? Don't assume that this is a product of the economic recession; instead, be proactive and try to determine what factors are affecting your sales. It could be the economy, but it could also be various other factors: A shifting demographic, poor sales strategies that don't work in a downturn, or bad or no advertising campaign.

 

Shifting Demographics

 

When you set up your business, you probably had a good idea of what demographic you wanted to serve. With the recession, the demographic you serve may have had shifts in their income level or even living situations. Take a look at the boomer generation. They are experiencing an epic shift in their income as they retire, with battered retirement accounts from poor market results. Even though you could rely on this demographic to purchase certain products and services as they continued to dominate the market, this may not be true in the future. So, you need to re-evaluate the demographics that you are serving in your market niche.

 

Sales Strategies

 

Running the same promotions with worse results? That's not really surprising considering that the psychology of the market place has changed dramatically and that the consumer may not be in a buying mood for a while. Before the recession, status was a great psychological trigger to use to create a buying opportunity. The same trigger is somewhat meaningless in a downturn unless you are marketing to the very rich.  The biggest strategy for the downturn is going to be value offers; you need to make sure that many of your strategies reflect a trigger for value.

 

Bad or No Advertising Campaigns

 

The immediate impulse of business owners in a downturn is to stop throwing money at advertising since there are fewer buyers. This is a mistake and can be a self-fulfilling prophecy for poor sales later on. So, if you haven't evaluated your advertising campaign, you need to do that now. Look at where you are advertising, what psychological triggers and sales strategies you are using, and whether you can provide value offers that put you ahead of the competition during this tough economy.

Wednesday, October 29, 2014

Expert Strategies For Getting The Most Out Of Online Shopping

Though some people still like to shop at the mall, some people live in the country and don't have easy access to one. Others just don't enjoy the experience. Some people also like to save money by shopping online, or they enjoy the wide array of products that are available on the Internet. The tips in this article can help you get the most from online shopping, saving you time and money. Many stores online have the same products, so it is worth it to do a little comparison shopping. The competition is fierce and retailers compete ruthlessly based on price, to your benefit. If your shopping for the best price, only consider the prices from sites where you feel comfortable making a purchase. Even the lowest price isn't a good deal if you end up being scammed or cheated. Have a reputable anti-malware program on your computer if you browse online shopping sites. Major shopping sites are frequently targeted by hackers and other shady types who try to steal your personal identification or get into your accounts. Pay attention to the warnings that are provided by your security software; if you see any suspicious activity, report them to your website's webmaster. There is no reason to provide your SSN when shopping online. No website should require this number to order anything. Leave immediately if you are asked to provide this information- the site you are on is a scam. Leave this site, and find one that has a better reputation. If you have a coupon, you can get an extra discount from many stores online. You can easily find these deals by searching the name of the retailer followed by "coupon code" in your favorite search engine. Examples include free shipping or a percentage off the cost if you just key in that simple code. If you can wait, save large purchases for the holiday season. Certain holidays will make sites have a lot of sales in regular stores, but online stores are participating most of the time as well. Some sites not only discount but provide free shipping too. When you are looking for online shopping opportunities, restrict your search parameters to those stores that only have an Internet presence. This doesn't mean Google is not a good choice; however, you may get more results than you can actually use. Shopping search sites can help you find the product and compare prices all in one page. Prior to shopping online, search sites offering coupons, such as coupons.com. You can save a lot of money with the manufacturer and retail coupons you will find there. However, to obtain these great coupons, you must ensure you search for these coupons prior to shopping. As you may already know, shopping online can be a very enjoyable and even addicting experience. You have lots of items in a virtual space that you can get to with a few clicks. Once you learn about online shopping, you will save not only money, but also time.     http://mrgarrette.mysiselpro.com/LC1

Listening: An Online Business Skill To Increase Consumer Demand


It used to be that only certain professions and businesses had to really listen closely with empathy to their client's needs. Retail businesses in more prosperous times weren't in the business of playing counselor, coach, or advocate. That's all changed as consumers around the country are struggling with a bad economy, causing them to change their previously unquestioning consumer mentality to one of careful frugality. In an environment like this, the only way to customize your marketing and business strategies is to pay close attention to your customer's needs and try to meet them.

 

The Big Three Components of Consumer Demand

 

Many of the issues that customers are going to face in this recession are the same: Reduced income, increased expenses, and solutions that don't meet their immediate needs. As we know from business theories, consumer demand is comprised of three components: Income level, personal preference, and price. There is not much a business can do about customers’ falling income levels. There are some things that can be done with pricing; however, downward pricing can create a risk to the bottom line profitability of the business, so the only other way to influence consumer demand is through preference.

 

Retailers Phasing Out Choices

 

It makes sense for big retailers who must carry inventory to phase out choices that aren't in wide demand and to cater to mass tastes. That's where online businesses can have an edge in this economy as they can offer the choice without necessarily inventorying it. If they listen to many of their customers who are having difficulty finding a particular solution that can only be bought online, they can offer this and raise the demand for their services by using this strategy.

 

Understand The Nature of Consumer Demand

 

Yes, people will have less to spend and become more frugal, but this doesn't mean that consumers will naturally gravitate to the cheapest choice. In fact, value becomes more important as the length of the recession is anyone's guess. A purchase that lasts longer is of better value than a great product that crashes, breaks, or looks worn a few months down the line. Consumers are becoming more sophisticated on buying not only things that solve their personal problems and preferences, but they are now demanding that they stand up to the test of time. If you can meet both of these needs, you will have clients for life, long after this recession is over.

Friday, October 17, 2014

MLM Strategies

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