Tag Archives: Price Setting

Principle Number Five To Getting Better Results

If people aren’t motivated to take action, then scarcity is one of the principles you can employ to get people to take action as opportunities appear more valuable when they are rare. Fear of loss will drive people to act, in a home energy study, people were contacted to tell them how much they would save per month if they were to take up a grant paying for home insulation.

When they changed it from savings per month to how much people would lose per month if they didn’t take up the offer there was a 150% increase in the uptake.

Boss music systems introduced their new Boss Wave Music System, the system itself was way ahead of anything that produced before and had the critics raving about it, Boss produced a leaflet about the system and at the very top of the leaflet with the words  “NEW” the Boss Wave System.

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Principle Number Two To Getting Better Results

LikingGetting people to like you is another way of building relationships, the activators for liking are similarity, praise and cooperation.

There’s a story about a large US company who were acquiring a lot of the businesses through purchase, this required the CEO of the company to negotiate with the owners of the companies he was buying. The chairman of the CEO thought that the negotiation processes were taking a bit long and suspected that the CEO was the issue.

Robert Cialdini was called in by the chairman to see if he could do anything to speed up the process, Cialdini watched some videos of the CEO in the negotiation process.It became apparent that he was a bit aloof and not very engaging with the person he was buying the business from.

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Why Organic Growth Can Be Dangerous

Bombshell Alert Ever heard the saying ‘nothing worth doing is ever easy’? Bombshell alert – if building a business was easy, everyone would do it. It takes a certain amount of courage to become financially responsible for yourself, and it takes even more courage to be disciplined enough to do the things that others aren’t willing to do now, to secure your financial future.

And if you’re employing staff, you’re financially responsible for them too. Their mortgages rely on your business and your decisions. If you haven’t already been through tough times, you’ll probably be in for some, whether its challenges with cash flow, waiting on decisions from others as to whether you get that dream client, or just plain and simply being let down by people.

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Multi-Tasking is a Lie

A recent article I read said that office workers, because of the array of social media available, including Twitter, Multi-tasking is a lieFacebook, Pinterest, Google Plus, and YouTube – to name just a few – plus texts, phone calls, and people popping in or asking questions, are interrupted once every 11 minutes!

This is shocking enough, but when you consider that getting focused on what you’re doing can take around 25 minutes before you’re ‘in the zone’, many office workers can spend their entire day without ever really being able to focus on anything that they’re doing.

Can you imagine how that can impact on any clinic’s output? While the treatments themselves are uninterrupted, when engaged with all the other important tasks to grow your clinic your productivity is being destroyed.

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How To Set Your Businesses Pricing

If you’re unsure about your pricing, take a look at your much bigger competitors or even those of a similar size. Now,Business Pricing you do have to compare apples with apples, but looking at their delivery, how far away are you from them? Do you really understand your marketplace? And are you constantly attending courses to evolve your knowledge and understanding of your industry best practice? To stay fresh? Do you understand the strategy behind what you’re trying to do? If so, you’ll absolutely wipe the floor with the majority of your competitors.

Also, if your client comes back and says your pricing is a bit on the high side (I’d always say that you should be in the top third price wise), ask them what they think their budget could stretch to. I’d never suggest reducing your price but you could offer to ‘part fund’ the first three months of the treatment to show the value that you bring (remember FS from your V x D + FS > R sales equation). This is also known as their puppy dog sales tactic, so, someone comes into a pet shop because they’ve been dragged in there by the kids and the kids are pestering for a puppy. The pet shop owners says take the puppy for the weekend, the kids

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Love, Children, Monsters and What This Has To Do With Business

We’ve all been there. And we all know how it feels. That moment when something that you love deeply, that’s tied up completely in your hopes and dreams for the future, and something that you’ve invested so much of yourself in that you just can’t imagine ever walking away, breaks down.

For many entrepreneurs this relationship is with their business. It started as a beautiful if demanding baby. But it also took everything you had, and something that used to matter so much ends up causing so much stress, worry and heartache that we just feel we can’t continue anymore.

And so we start thinking about walking away. We forget the potential our business has to provide us with the lifestyle we deserve. The pay-back that our families deserve for the time and effort we’ve already given. And we focus instead on the Dr Frankenstein’s monster its become – running amok and seemingly destroying everything that we hold dear.

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Ditch The Bad Clients

Alan's Podcast with Lawyer FairA general chat about business growth and how the pain in the backside clients just need educating or ditching

To hear my latest podcast with Andrew from Lawyer Fair CLICK HERE

By Alan S Adams

Access the FREE workshop on Getting DEPTH™ in your business, click here WWW.GET-DEPTH.COM for more details and start developing a business that delivers you the lifestyle you want, with none of the stress.

How to Develop Your Own Sales Script

How to Build a Sales Script

You might have seen this equation but it makes it really easy to develop your own sales script: D x V + FS >R = Sales Scripts SellSale. The D is the dissatisfaction or pain the customer has, V is the vision of what they want,  FS is the first steps to get them to buy and R is resistance.

It’s actually started of as a change formula from the 60’s used when management wanted to change companies in some way but was adapted for sales in the 80’s

The idea is that you talk to the customer about their dissatisfaction, make that D as big as possible, really dig around to find out what it is that’s paining them, get as much detail as possible, and ask them how it feels to be in that situation.

Having a Sales Script will Increase Your Conversion

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Questions to Ask a PR Agency Before you Engage Them

Questions to Ask A PR Agency to Make Sure you get the Right One for YouQuestions to ask a PR

Hiring a PR agency can be a particularly difficult task. But knowing what questions to ask a PR agency is critical. Not only are you taking on a firm that quickly have to become a natural extension of your own team, but they must be true champions of your brand and everything it represents.

Whether you’ve worked with lots of PR agencies in the past, or you’re brand new to the whole sector, there are some questions that you should ask any PR agency before you engage them. And if they can answer all of the questions below to your satisfaction, then we say, snap them up!

1. What do you need to know about my business before you can get started?

2. Are you a Member of the PRCA or the CIPR?

3. What if it all goes wrong? Do you have the experience to manage negative news?

4. What experience and media contacts do you have in my sector?

5. How will you measure success with my account?

6. Do you work for anyone else in my sector?

7. How many people will be working on my account and when will they be available to me?

8. Who would be leading my account and how much PR experience have they got?

9. How long has the agency been going and what clients do you work for?

10. Do you have appropriate professional indemnity insurance?

Not Asking the Right Questions to Ask a PR Agency Can be Costly

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Want More New Customers? Examine Your Sales Process

Get More New Customers by Increasing Your Conversion Rate

SAles Process to get New Customers

I’ve written before about how people who say they want more new customers focus on the wrong thing – what they actually need is more leads, and to convert those leads into customers.

So how do you increase your conversion rates? Well, you have to start by knowing your numbers. How many new leads are you actually getting? And how many of these are being converted? It’s also critical that you have a sales process, so that you know exactly what your customer journey is

You must also script each part of the process so that you don’t miss out anything. This will also stop you getting tongue-tied and increase your conversion rate because you’ll be able to tweak each script and see the result.

Spoiler alter here… If you ever go and see Brad Sugars at one of the free workshops he runs, he normally tells this story. He’d taken on a client who sold tyres. When he asked what his conversion rate was on the calls his sales team were getting the guy guessed at about 70%. Brad asked him to monitor it for two weeks, just to see what it actually was.

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