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Actual for You - Selling the Sizzle or the Steak?
Deadlines and due dates are the norm in the typical office allowing little time for much else. When it’s time to express your business thanks to a client what is the most beneficial and time-saving corporate gift giving idea?Gift Baskets! That’s right. This type of offering can be custom designed to match the interests of the recipient. There are baskets pertaining to the food categories of gourmet, Italian, spicy, healthy, coffee, tea and lots of other edible favorites including chocolate. What else?How about a sports related corporate gift giving idea? There are gift baskets for golf, NAS
This letdown usually occurs when you sell the sizzle. Your customers value the bonuses more than the actual product. They come into your universe receiving more than they paid and most expect you to continue with equivalent offers.
Not so with steak buyers...
Most will be ready to move forward to higher priced products without the bribing from bonuses. If they trust you—and value your products and services—then including more freebies may actually devalue or diminish the product you're selling.
Can the sizzle and the steak be combined?
I'm glad you asked. The answer is yes and one of the bes
If you're like most Americans you were tired of the high gasoline prices, but you feel rather helpless, as you know there is nothing you can do for you and your family. Perhaps it is crossed your mind that you could start your own oil company. I had considered this scenario recently for a fictional work. And the synopsis goes something like this;The folks would try to start their own oil company with lots of money, they would be mostly all liberals, they would eventually see they could not raise the money or get any of it done. So they would re-design the car and find that there are too many cl
You're selling an e-book titled 101 Ways to Make Chocolate Chip Cookies retailing at $27. You don't have a database of names to market to so you decide to sweeten the deal by offering a bundle of bonuses that total more than your $27 e-book. You negotiate with five other authors to throw in their e-books as complimentary gifts when prospects buy your e-book. They agree.
You include 101 Toppings for your Chocolate Chip Cookies ($19), 15 Culinary Techniques to Knead Cookie Dough ($9), 27 Recipes for Buttery Chocolate Chips ($17), How to Make the Most Mouth-watering Cookies ($17), and How to Make Cookies So Soft, They Always Sag in Your fingers ($9). These five e-books total $71 and complement your e-book nicely.
You also negotiate marketing to all five authors' e-mail list and splitting the gross sales 50/50. You offer to do the sales copy and all purchases go through your shopping cart. They don't even have to lift a finger to make money. They send out a brief endorsement e-mail to their list with a link back to your webpage.
A week passes and you make 1,000 sales totaling $27,000. You pay your joint venture partners half gross and still have $13,500 in change. Not bad for a few hours work. This is selling the sizzle—when your special bonuses have a higher perceived value than the actual product for sale.
The other school of thought is selling the steak...
You sell your product or service on the merits of its value. This is where you show the perceived value of the product or service is so important to a certain niche market, they'd stand to gain or lose out if they don't buy now. This takes a little more finesse and persuasion, but much more personally rewarding.
Here's an example...
My mentor sent an e-mail to his database for a one-year coaching program. It included a monthly lesson, an assignment, and a critique. All done through e-mail.
His database is a targeted list of business owners who like, trust and respect their coach. And most, if not all, have been previous customers.
So I forked out $7,000 for the program. If I opted for financing, it would have cost just under $10,000. With about 26 scholars who enrolled, my mentor made close to $200,000. From thin air.
He sold the steak ? la carte. There were no bonuses. No prizes for the best grade. Not even a guarantee. Or a certificate.
This is almost Nirvana. Zero overhead and no headaches. Just produce 12 lessons, 12 homework assignments, and critique 26 papers a month. On the side.
Back to the sizzle...
You've got 1,000 new customers in your database who bought your 101 Ways to Make Chocolate Chip Cookies. You want to sell them your new paperback: How to Market Your Cookies ($47). It contains tips, tools, advice and even a business plan for the serious cookie entrepreneur. There are sections on marketing to schools, fundraisers, mail order, and retail outlets. You've included a complimentary special report on running your own small business as a bonus for ordering your new book.
53 of the 1,000 purchase your paperback for a total of $2,491. Not bad, but certainly not the result you wanted since you ordered a minimum 5,000 books to qualify for the price break.
This letdown usually occurs when you sell the sizzle. Your customers value the bonuses more than the actual product. They come into your universe receiving more than they paid and most expect you to continue with equivalent offers.
Not so with steak buyers...
Most will be ready to move forward to higher priced products without the bribing from bonuses. If they trust you—and value your products and services—then including more freebies may actually devalue or diminish the product you're selling.
Can the sizzle and the steak be combined?
I'm glad you asked. The answer is yes and one of the best
There is a great deal of wisdom in what my mother told me, "If you can't say anything nice don't say anything at all." Recently I was in the front row (which by the way is known as the millionaire's row because winners don't hide at the back) of a company training event. A colleague of mine was not impressed with one of the trainers. She could not or would not contain her disdain and proceeded to make a series of noises to express her lack of approval for the presenter's style and delivery. The noises ranged from; exaggerated sighs, low groans and mumbled words.Normally I would have ignored the r
You also negotiate marketing to all five authors' e-mail list and splitting the gross sales 50/50. You offer to do the sales copy and all purchases go through your shopping cart. They don't even have to lift a finger to make money. They send out a brief endorsement e-mail to their list with a link back to your webpage.
A week passes and you make 1,000 sales totaling $27,000. You pay your joint venture partners half gross and still have $13,500 in change. Not bad for a few hours work. This is selling the sizzle—when your special bonuses have a higher perceived value than the actual product for sale.
The other school of thought is selling the steak...
You sell your product or service on the merits of its value. This is where you show the perceived value of the product or service is so important to a certain niche market, they'd stand to gain or lose out if they don't buy now. This takes a little more finesse and persuasion, but much more personally rewarding.
Here's an example...
My mentor sent an e-mail to his database for a one-year coaching program. It included a monthly lesson, an assignment, and a critique. All done through e-mail.
His database is a targeted list of business owners who like, trust and respect their coach. And most, if not all, have been previous customers.
So I forked out $7,000 for the program. If I opted for financing, it would have cost just under $10,000. With about 26 scholars who enrolled, my mentor made close to $200,000. From thin air.
He sold the steak ? la carte. There were no bonuses. No prizes for the best grade. Not even a guarantee. Or a certificate.
This is almost Nirvana. Zero overhead and no headaches. Just produce 12 lessons, 12 homework assignments, and critique 26 papers a month. On the side.
Back to the sizzle...
You've got 1,000 new customers in your database who bought your 101 Ways to Make Chocolate Chip Cookies. You want to sell them your new paperback: How to Market Your Cookies ($47). It contains tips, tools, advice and even a business plan for the serious cookie entrepreneur. There are sections on marketing to schools, fundraisers, mail order, and retail outlets. You've included a complimentary special report on running your own small business as a bonus for ordering your new book.
53 of the 1,000 purchase your paperback for a total of $2,491. Not bad, but certainly not the result you wanted since you ordered a minimum 5,000 books to qualify for the price break.
This letdown usually occurs when you sell the sizzle. Your customers value the bonuses more than the actual product. They come into your universe receiving more than they paid and most expect you to continue with equivalent offers.
Not so with steak buyers...
Most will be ready to move forward to higher priced products without the bribing from bonuses. If they trust you—and value your products and services—then including more freebies may actually devalue or diminish the product you're selling.
Can the sizzle and the steak be combined?
I'm glad you asked. The answer is yes and one of the bes
Have you herd about the mazu business pack? If you are reading this article I am sure you know a little bit about it. If not I am going to tell you exactly what comes with the mazu business pack, and why it is one of the top home business programs on the Internet.If you are someone that is looking to work at home, and are tired of all the lies and false claims being made you are in the correct spot. Mazu tells not lies, and makes no flase claims of becoming rich over night.What mazu does do though is show you 10 extremely profitable ways to earn and extra income working online
Here's an example...
My mentor sent an e-mail to his database for a one-year coaching program. It included a monthly lesson, an assignment, and a critique. All done through e-mail.
His database is a targeted list of business owners who like, trust and respect their coach. And most, if not all, have been previous customers.
So I forked out $7,000 for the program. If I opted for financing, it would have cost just under $10,000. With about 26 scholars who enrolled, my mentor made close to $200,000. From thin air.
He sold the steak ? la carte. There were no bonuses. No prizes for the best grade. Not even a guarantee. Or a certificate.
This is almost Nirvana. Zero overhead and no headaches. Just produce 12 lessons, 12 homework assignments, and critique 26 papers a month. On the side.
Back to the sizzle...
You've got 1,000 new customers in your database who bought your 101 Ways to Make Chocolate Chip Cookies. You want to sell them your new paperback: How to Market Your Cookies ($47). It contains tips, tools, advice and even a business plan for the serious cookie entrepreneur. There are sections on marketing to schools, fundraisers, mail order, and retail outlets. You've included a complimentary special report on running your own small business as a bonus for ordering your new book.
53 of the 1,000 purchase your paperback for a total of $2,491. Not bad, but certainly not the result you wanted since you ordered a minimum 5,000 books to qualify for the price break.
This letdown usually occurs when you sell the sizzle. Your customers value the bonuses more than the actual product. They come into your universe receiving more than they paid and most expect you to continue with equivalent offers.
Not so with steak buyers...
Most will be ready to move forward to higher priced products without the bribing from bonuses. If they trust you—and value your products and services—then including more freebies may actually devalue or diminish the product you're selling.
Can the sizzle and the steak be combined?
I'm glad you asked. The answer is yes and one of the bes
So many businesses need to ramp up their customer service efforts. They believe that their customer service is top notched, but that is not what the customers say. This false belief and arrogant thought process can kill any business. Failure to look around, survey customers, correct problems and give customers what they want is very common.You must give customers good customer service so that they will pay you and come back and tell friends spread the word-of-mouth advertising far and wide. Are you giving 110% in customer service? If not, you need to start and the sooner the better, as you are mos
This is almost Nirvana. Zero overhead and no headaches. Just produce 12 lessons, 12 homework assignments, and critique 26 papers a month. On the side.
Back to the sizzle...
You've got 1,000 new customers in your database who bought your 101 Ways to Make Chocolate Chip Cookies. You want to sell them your new paperback: How to Market Your Cookies ($47). It contains tips, tools, advice and even a business plan for the serious cookie entrepreneur. There are sections on marketing to schools, fundraisers, mail order, and retail outlets. You've included a complimentary special report on running your own small business as a bonus for ordering your new book.
53 of the 1,000 purchase your paperback for a total of $2,491. Not bad, but certainly not the result you wanted since you ordered a minimum 5,000 books to qualify for the price break.
This letdown usually occurs when you sell the sizzle. Your customers value the bonuses more than the actual product. They come into your universe receiving more than they paid and most expect you to continue with equivalent offers.
Not so with steak buyers...
Most will be ready to move forward to higher priced products without the bribing from bonuses. If they trust you—and value your products and services—then including more freebies may actually devalue or diminish the product you're selling.
Can the sizzle and the steak be combined?
I'm glad you asked. The answer is yes and one of the bes
So you are a business owner or a customer service representative and you have a customer who is calling you with a complaint or a problem with your product or service? What should you do about your customer and their call?The first thing to do when your customer calls with a complaint is to stop; that is to defy everything that your brain, your heart, and your emotions tells you to do. Your brain, your heart, and your emotions tell you, no, they scream out to you to-start talking, defending yourself and your company and to justify or to explain what has happened to your customer. Rather, what you
This letdown usually occurs when you sell the sizzle. Your customers value the bonuses more than the actual product. They come into your universe receiving more than they paid and most expect you to continue with equivalent offers.
Not so with steak buyers...
Most will be ready to move forward to higher priced products without the bribing from bonuses. If they trust you—and value your products and services—then including more freebies may actually devalue or diminish the product you're selling.
Can the sizzle and the steak be combined?
I'm glad you asked. The answer is yes and one of the best ways is to bundle up bonuses from your product line with your offer. This way, you can reap higher profits. So get busy building your product line. And when you negotiate joint venture deals, you can now insist on higher margins for yourself because you have proven your products can make money for your JV partners.
Which method is better?
If done right, both are very effective. If you want to make a casual sale, then include as many bonuses as possible. But if long-term customers and lifetime income and reward are your goals, prepare to sizzle by selling the steak.
Tommy Yan helps business owners and entrepreneurs make more money through direct response marketing. He publishes Tommy's Tease weekly e-zine to inspire people to succeed in business and personal growth. Get your free subscription today at www.TommyYan.com.
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