Sales Funneling – A Marketers Guide

09 Jun

Sales FunnelingSales people often feel that all marketing needs to do is to drive loads of leads their way. If this is the approach in your organisation, then you are missing sales and lowering potential profitability. Careful management of the tone and quantity of your marketing content across a planned sales funnel can deliver pre-qualified leads to a sales person, significantly improving the chances of conversion.

Many of us will have experienced a sense of ‘information overload’ where we simply switch off, or the frustration of wanting to know more about a product or service before we commit and not being able to find it. Both happen regularly, and when they do – you’ve lost a sale.

For almost every purchase we make, we run through a broadly similar decision-making process (I say almost, as the impulse bar of chocolate at the supermarket counter is quite a different process). Typically, and particularly for more complex purchases, our thinking will go something like this: ‘My laptop is heavy – I saw that ad for really light weight ones, who was it again?’ (Latent need); ‘There’s that ad, it’s X-brand’ (Awareness); ‘I’ll just check out their site’ (Interest); ‘Hmm, well the weight certainly compares well, but can I afford it, what are the other options?’ (Evaluation); ‘I’ll pop into Y-shop to see what it feels like and ask a little more about it’ (Trial); ‘I’ve researched the best price, I’ll get it from there’ (Purchase). Kotler and others have spelt out various different versions of this process, there’s bound to have been one modelled for most markets. By understanding the way people make buying decisions, you can map your sales funnel: 1. Awareness, 2. Interest, 3. Evaluation, 4. Trial, 5. Purchase.

Against this process you should map and measure your sales funnel, you’ll steadily whittle down your audience at each step, with interested parties moving through the funnel and those who either don’t want what you offer or who are turned off by your messaging going elsewhere. To maximise the conversion at each stage, marketers should consider two key elements; tone and quantity.

What do I mean by tone? As short-hand, think emotion. Against the sales funnel, there is an appropriate tone at each step. If you imagine a continuum from emotional to rational, typically your marketing material will need to start at emotional and move to rational through the funnel. To really get noticed, you need to appeal to our most human side, our emotions. If you hit a nerve, they notice you. However rational you are, e.g. ‘we’re cheap’, if they don’t feel a need for what you’re offering they’re unlikely to notice your communications in the first place. Successful emotional appeals, in marketing terms, usually hit on a negative feeling and say that you can take it away. This is called finding the point of pain. Once you’ve established that emotional appeal, your communications need to move into more rational territory, where proof is needed. As a sanity check on the tone of your marketing materials, map out each stage of the sales funnel and look at the material (offline, online, sales person, in-store, etc.) and then judge the emotional appeal – are you delivering rational messages too soon? Is your material providing further emotional messaging, when your buyer is looking for rational proof?

Quantity, in regard to sales funnelling, is a fairly straight forward concept – start ‘short and sweet’ and then provide more information at each step. Where most organisations fall foul of this is on their websites. Home pages are often jam packed with information. In a typical sales funnel, an organisation’s website is the second or third step – this means that people typically reach you looking for an emotional appeal (what’s the benefit for me?) and they are looking for key messages. Again, map out your journey and assess the quantity of information you are serving at each stage, it should start small and increase at each step.

So, if you’re experiencing lots of web traffic, but low numbers of enquiries – or lots of footfall and low sales, think about the sales funnel. An initial assessment against tone and quantity will signpost where your blockage might be and put you on the path to a free flowing sales funnel that has a tangible link to your bottom line.

Copyright (c) 2008 Bryony Thomas

Pharma Medical Representative Jobs Career And Overview

04 Jun

Jobs Overview

Indian pharmaceutical industry is playing a key role in promoting and sustaining development in the vital field of medicines. With growing Indian Pharma market, demand for specialized pharma sales professionals has increased.

The pharmaceutical-sales is a lucrative career option because it offers excellent salary potential, opportunity for growth, great benefits and the field makes out a bit of glamour also.

Pharmaceutical companies will have their own marketing and sales strategies to introduce the drugs into the market. A drug company employee regularly visits Medical practitioners, hospitals, clinics, nursing homes, health centers and apart from that, they will take care of retail, distributor, and wholesale sales, provides information on the company’s products and maximize the prescribing of products in specific geographic area.

Role of Medical Representative/ Sales professional has become preponderant as with growing Indian Pharma market, with the advent of new product launches increasing demand for the specialized pharma sales professionals and market have turned towards sales professionals with rich experience in a focused sector.

Sales processional is expected to have greater skills and accurate product knowledge to face well informed individual and institutional customer.

The Allopathic formulations market is the largest segment in the India with an estimated 23,000 plus manufacturers, has approximately 70,000 plus brands. There are approximately about 20000 medical representatives in the country promoting products to over 10 lakh doctors. The number of pharmaceutical retailers is estimated to be 5 lakh in near future.

Among the top five therapeutic segments, Gastro-intestinal and cardiac are experiencing both high volume and value growth.

Opthologicals, cardiovascular, anti-diabetics and neurological drugs continue to top the growth list.

The anti-infective, neurology, cardiovascular and anti-diabetic segments have witnessed a high number of product launches in the recent years.

A medical representative who has a flair for marketing and can show extra-ordinary results has a variety of choices to advance into management roles. They can make a very promising career in pharmaceutical marketing on the basis of his sales performance and ability to manage customers. His sales performance is assessed on the basis of his ability to achieve targets fixed by the company. He can rise to the posts of:

Managing Director
Executive Director
President Sales
VP Sales
National Sales Manager
Zonal Sales Manager
Regional Sales Manager
Area Sales Manager
Medical Representative

The other opportunities for medical repsĀ  will include: Pharma Marketing and Consulting Services, Health and Clinical business development and etc. Medical reps are also highly preferred for Brand/Product Management roles. They can rise to the highest positions like Group Product Manager, Marketing Manager, GM Mktg, V.P Mktg, and etc.

Top 7 Formulas for Pinterest Marketing

01 Jun

Pinterest Marketing

If you own an ecommerce store, Pinterest is a golden opportunity to allure people with beautiful pictures and videos of your product. You might be missing out on a huge audience if you market only on Facebook and twitter! Now also with the addition of buy buttons, Pinterest gives consumers one-click option to buy products; making the platform even more viable. Many brands want to know how to make the most of Pinterest-based shopping. So now comes the big question, how do you use Pinterest to your advantage? Social Media Experts at Digital Marketing School bring you the top 7 awesome ways of marketing efficiently on Pinterest.
1. Pin striking photos-
We must firstly be aware that Pinterest is majorly an image-sharing platform. And images that are striking make the most popular pins. As a marketer you must make the best use of your photography and creative skills and click great pictures of your product. Or you can also hire a professional to help you.
2. Keep it simple-
Now after a person views your image, you must make it easy for them to buy your product. They must be able to find your products through a link that directs them to your website. Always include a link to the image that guides them to the website.
3. Attractive content-
“Create smart pins that will go viral among the Pinterest community with great images, attractive and useful descriptions, and intelligent tagging.”
Also, keywords are important. Caption your images with words that are attractive and connecting to the audience. If your product is food, use words like “Mouth-watering Dishes”, “Scrumptious delicacies” Or any such appealing titles.
4. Celebrity marketing-
If celebrities, even small ones can endorse your product, it will work great for you! The audience really believes when someone else has used your product, especially someone popular. You can use an image of a celebrity with your product and a 2- lined testimonial about what they think.
5. Theme it!
Categorize your each and every board with a particular theme. It makes it easily understandable for the audience. If you are a Fashion Pinner, categorize your boards as “Wonderful winter collection”, “Sunny summer collection” and so on! The colors and design you use for each board must be unique.
6. Pinterest is female populated-
You must also know that Pinterest is highly populated with women. More than half of the people on Pinterest are women. So always try making posts that appeal to the female audience majorly!

7. Pinterest analytics-
Access analytics for your Pinterest account. Know what is working the best for you and what is not. Which pins are getting you traffic to your website and various other insights. Use Google Analytics to your advantage! For more information on analytics you can also take up digital marketing training.

Watch this space for more leads on Social Media Marketing.

Small Business Marketing Environments That Affect Your Marketing

30 May

Small business marketing environments can affect your business more than by what your do and say in your marketing.

By including these marketing environments in your marketing and business plans, you open many opportunities for your business.

You need to consider the following ten small business marketing environments as you plan your small business marketing.

Small Business Marketing Environment 1: Your Business And Employees

Don’t ever forget that each of your employees have interactions with many people outside of your business. If they are happy, feel good about your business, and believe in your product, they can be one of your greatest marketing assets.

Small Business Marketing Environment 2: The Businesses That Serve You

The businesses that you purchase from determine how efficiently you make your product and conduct your business. Some even provide cooperative advertising and promotion opportunities.

Small Business Marketing Environment 3: The Businesses That Deliver Your Products

Some distributors enhance your marketing by telling others they serve about your business. Because distribution is an important part of the marketing mix, how well they deliver your products also influences your marketing, your ability to get products to customers, and even your price.

Small Business Marketing Environment 4: Retailers

The businesses that retail your product influence your marketing and sales. They can promote your product, feature it, or just stick it on a back shelf. Thus, they can help or hurt your marketing efforts.

Small Business Marketing Environment 5: Competitors

Businesses that sell competitive products, unwillingly influence your marketing. They may not want to help you, but knowing their strengths and weaknesses can be a great asset to your marketing. When competitors are weak but you are strong, you have a distinguishing characteristic that you can market.

Small Business Marketing Environment 6: Other People

Publics influence your business in other ways besides buying your product. Their support can be a great marketing boost. Their lack of support often requires public relations marketing to diminish their influence on potential buyers and other publics.

Small Business Marketing Environment 7: Customers

Many small business owners think primarily of present and potential customers when they think of marketing – marketing to them. But who your customers are and whether they are individuals or businesses influences how you market to them.

Small Business Marketing Environment 8: Factual Characteristics

Knowing factual characteristics (demographics) about your target market reveals much about their attitudes, values, concerns and buying preferences. People differ by factual characteristics such as income, type of occupation, amount of education, their race and gender. The more you know about them, the better you can design marketing that appeals to them.

Small Business Marketing Environment 9: Economics

Economic situations influence what sells and how much of those products sell. During recessionary economies, people often eliminate unnecessary expenses. During inflationary economies people spend more and on more luxury products. Thus, different economic situations call for different marketing strategies and tactics.

Small Business Marketing Environment 10: Natural Resources

Natural resources influence your product’s price because the less a resource is available, the more you have to pay for it. To continue to make a profit, you have to pass that price on to your customers. This, in turn, influences if and how much of your product will sell.

Small Business Marketing Environment: Conclusion

Each of the ten small business marketing environments influence your marketing by what is said and done within that environment. In addition, each has a direct or indirect influence on some aspect of the marketing mix which affects your business’ success.

5 Simple Internet Marketing Tips

19 May

Marketing TipsNow that you have your business website up and running, what’s your next move? You can’t just sit there and expect your website to generate all the leads by itself. You have to do your part to get things going by getting a professional internet marketing service in San Jose. Jump start your internet marketing plan by reading these San Jose SEO expert tips:

Start with something small. Are you familiar with the parable of the mustard seed? Not meaning to sound all religious but this story can help you with your web marketing. There’s a tendency to be overwhelmed at the start. Having so much expectations and not knowing how to achieve them can lead to frustration. The trick is to start small. Establish a realistic goal. For example, setting up social media profiles and then, moving on from there. Once you have them, concentrate on expanding your network. Let’s say five new “friends” per day. Use this approach and things will just grow bigger on their own.

Nitpick at your content. Aside from having the perfect layout, what your website has to say is critically important. This is what people are truly after and you have to give them what they need. Make sure that every paragraph you have on your site is unique, useful, and very easy to read. Moreover, be conscious of your text’s layout. They should be properly sized and shaped.

Optimize every time you add a new post. Don’t take small things like including keywords in title tags and headings for granted. They help in boosting your site’s performance in search engine rankings.

Spend time interpreting your website’s metrics. Numbers and graphs can say a lot about how your internet marketing plan is faring. Know the areas that need improvement and adjust your web marketing plan. Find out why people don’t stay in a web page long enough to read the content, or why they fail to respond to your call of action, or why they don’t find the other landing pages you have in your website. Knowing things like these can help you achieve success in web marketing.

And lastly, put yourself out there. Create profiles on social media websites. List your business in local directories. Join relevant online groups and communities. Be active and get in touch with people and do your best to create online friendships. Instead of just blatantly promoting your business, take time to know the people you’re interacting with. Show warmth and sincerity. They’ll like you and trust you for it

Infomercial Facts

27 Mar

Infomercial programming is direct response television, which means that during the commercial information is provided for the consumer to make direct contact with the seller. This usually occurs with the posting of a 1-800 number and now more frequently a URL for the product’s web address, too. The combination of advertising and direct marketing makes infomercials the perfect combination for reaching thousands of target customers at one time. A benefit that makes infomercials popular with marketers is that it is considerably more affordable than regular airtime simply because it is for infomercials. It has been estimated that approximately 1/3 of the US population watches infomercials so this is a large target market that can be reached quickly, easily, and affordably. The reach is far and the price is very affordable.

Most everyone knows what direct response television is and they frequently refer to it as an infomercial. Another interesting fact about infomercial advertisements is that they are targeted towards people who can afford them. Generally, when someone is watching an infomercial they are in the target group for that particular product, which means they can most likely afford to buy it. Research is used to determine when different people are watching television and how to market to their target market. That’s how it is determined whether an infomercial will air early in the morning, mid morning, mid afternoon, or even in primetime.

People in their mid 40s have the most buying power and that is the average age of the infomercial viewer. Because of this marketers often target this age group through their infomercials more than other age groups.

In the early days of infomercials women were the main buyers. This has begun to change somewhat over the years, however, and today quite a few men buy items through infomercials, too. The infomercial industry anticipates this will change even more in the future and an equal amount of men and women will both purchase items through direct response marketing.

Many people enjoy buying items through direct response television and infomercials simply because they know what they are buying, how it works, and have made the decision on their own to purchase. Since there is no salesman breathing down their neck trying to convince them to buy a product consumers will be more pleased with their purchase and overall experience.

Strengths And Weaknesses Of Promotional Gifts

13 Mar

In todays business market, promotional gifts are replacing the traditional business cards, as more and more companies are realising that such gifts are more beneficial in promoting business than the simple cards. The one simple reason for this is promotional items are more often used by the customers rather than the business cards which are rarely noticed by the consumers. One of the many advantages associated with promotional products is that the advertisement on them is potentially seen and noticed by a huge mass of audience. While conventional business cards are put away in purses and wallets. The customised promotional products are often used by the recipients and may also be passed along, conveying the message of the company across. Another strength of promotional products is that they are available in a variety of types and styles that the company can choose from. From cost-effective promotional pens to elegant travel bags and flasks, there is definitely a product to fit the marketing needs of any company or business.

The flexible price variety of promotional products, which may range from very easy on the pocket to lavish ones, is also considered as an added advantage. This price range of the promotional products allows all the companies, including those which have the lowest marketing budget to get best advertisement without making hole in their pocket. Even the most inexpensive promotional gifts can prove to be an advantageous advertising medium than other expensive marketing tools.

Finally, one of the greatest benefits that promotional items provide is that most of them are useful. When a company gives its clients, employees and customers an item that they can use, it definitely gives them a feeling of warmth, a feeling that the company really cares for their support and faith.

The only weakness associated with promotional gifts as an advertising tool comes when the company selects a low-quality cheap product. Rather than creating a positive impression in the market, such cheap promotional products can even damage the existing image of the company. Imagine that a company distributed promotional pens at an exhibition and they did not actually write well when the customers wanted to use them. In this case, the customers will either throw the pen in a dustbin or will never use it again. In addition, they will create a negative impression of the company in their mind. Therefore, in order to avoid such a humiliating situation, the company should make sure that it selects the promotional items at least of good quality, if not of highest quality.

For more information on promotional products, log on to www.clickpromogifts.co.uk. It provides efficient and quick services to companies by providing them with all kinds of cost-effective and high-quality promotional items.

Is Herbalife A Scam Or A Great Opportunity

09 Mar

Whether you are looking at the network marketing company Herbalife as an opportunity or you already are involved, there can be several questions that havent yet been answered and it is no secret that many people struggle with some kind of scepticism when it comes to network marketing. But is Herbalife just a scam or is it really a good opportunity?

The network marketing company Herbalife was founded back in 1980 by Mark Hughes who wanted to find a safe and natural way to loose weight after loosing his mother to a weight loss product. This was how Herbalife began and it is now the biggest company when it comes to Health and wellness.

In this article I will give you an overview of the pros and the cons, and you will have to make a decision yourself whether Herbalife is for you.

To take a look at the pros – first of all health and wellness is what people want. We want to loose weight, look good and stay young as long as possible and that is exactly what Herbalife provides nutritional supplements and weight loss products. Lots of people use these products and wont do without. Also the company is publicly traded and that is always a good sign when looking at network marketing companies.

And to the cons like every other network marketing company, the methods and techniques they are teaching their distributors is not making everybody successful. Also the distributors are told to lead with the opportunity and then later introduce the products. The outcome of this is not good. Why? Well, first of all, if you are new in this business and you are leading with the opportunity, your prospects will at some point ask you how much money you are making. But how much are you really making when you have just signed up yourself? Not much, right? And the prospect will therefore tell you to come back when you are making money. Of course you can lie and say that you are making lots of money, but they will soon see that you are lying and the credibility is gone.

Second of all, if people are told that they can make lots of money, and nothing happens the first couple of months, they will quit your downline will therefore just be full of people signing up and quitting. That wont get you anywhere, your business will not grow and you will not experience the success you want.

Like any other network marketing company Herbalife encourage you to pester your friends, family and every other person you know. Well, that is not the right way to go, and you will soon experience rejection and scepticism like never before, and you will most likely not ever achieve any success with Herbalife.

But, truth is that you can experience success and make lots of money marketing health and wellness. You just have to know how to do it, and Herbalife is not going to be the one who teaches you what to do. You have to turn elsewhere to learn which effective marketing tools and techniques you must use. Herbalife is not a scam, but your success will be determined by the effort and the skill set you posses.

If you are ready to learn how to become a great marketer and you are passionate about the products that Herbalife provides, go for it! But if not, just use their products to loose a few pounds. You need to know that it takes time and hard work to grow a huge downline and achieve success, and success will not just come to you if you find two new distributors who then find each two and so on.

Advantages And Disadvantages Of Buying Wholesale

26 Feb

Even if you are starting a business or currently running one, you always consider of buying wholesale products for your business. However it is important to remember that buying wholesale products produce both benefits and disadvantages.

Advantages
1. If you buy wholesale products, you have complete control over inventory. You can are aware of the products quantity on stock so you can offer what is available.

2. You have better profit margin since you will be purchasing the items at a lower price giving you competitive stand in the market.

3. You have control over the shipping process. You can ensure that the products ordered are delivered in a timely manner and that products are packed properly and safely, which lessen customer complains.

4. You can sell your products to retailers as wholesale as well. Since you can buy items in bulk, you have advantage of selling them in bulk as well.

Disadvantages

1. You need to consider storage space. If you buy products in bulk, you need to have a bigger space to store your products. If you need to rent a storage space, this will add to your overhead cost.

2. It requires a large amount of money buying wholesale products. Since manufacturers’ require minimum order quantity in order for you to take advantage of the wholesale price, you need to shell out a large amount of capital.

3. Most suppliers don’t deal with online sellers. You need to be an established shop or retailer to be able to take advantage of wholesale products.

4. It requires a lot of your time doing a wholesale business since you will be responsible with shipping, inventory and marketing the products unlike with drop shipping.

Power Transformers Market Analysis To 2020

26 Feb

The world transformer market is driven mostly by the power and distribution type of transformers. Increase in the electricity installed capacity of developing and developed countries, and strong demand for more electrical energy to power growing industrial and commercial sectors is driving the demand for such transformers. The market for transformers is a matured one, with not many technological or product innovations taking place, considering the huge size of the market. However, demand from emerging economies such as China, India, Latin America, and Eastern Europe has helped the market achieve significant growth in revenue. Considering the fact that development in these economies is likely to be sustained at least during the forecast period of this study, the market for transformers is also expected to show growth potential.

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Revenues for the total transformer market (power and distribution) in 2009 were $22,841m. The market is expected to grow at a compound annual growth rate (CAGR) of 7.9% over the forecast period. The market is expected to grow faster in Asia Pacific, Latin America, and the Rest-of-World regions than North America and Europe due to the consistent and growing demand for electrical energy needed to fuel their economic development requirements. The market for transformers in the Asia Pacific region, powered by the strong domestic growth in economy in countries such as China, India, Indonesia, South Korea, Thailand and the Philippines, is likely to grow at a CAGR of 8.3%. In the years just before the economic slowdown of 2008, the transformer market in China and India grew at an average of more than 14% annually.

The economic slowdown had a debilitating effect on the market because of the decrease in export demand and lack of liquidity and credit facility. Many energy infrastructure projects were abandoned or postponed indefinitely and this resulted in reduced growth rates in this market. However, many of these countries with emerging economies are expected to return to the growth phase faster than the industrialized nations, resulting in an increase in revenue growth of the market.

The world power transformer market achieved revenues of $11,325m in 2009, growing at a CAGR of about 13% from 2000 to 2009, owing mainly to the growth rates achieved in countries such as China and India.

GlobalData’s “Power Transformers – Global Market Size, Average Pricing, Market Share and Distribution Channel Analysis to 2020” gives detailed information on the power transformers market globally.The reports provides information on key trends,market revenues forecast to 2020,equipment market share and distribution channel analysis.

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