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Top Dog Sales Secrets

This isn’t your typical sales book. It is a collection of authors writing on various topics, not a selling system or sales `program’ such as Strategic Selling or SPIN Selling. The authors are excellent writers and the information is current. I found the tone to be enthusiastic, humorous and easy to read. It’s a good book to read when you only have snippets of time and can’t get involved with a long read or concept. Each article has nuggets of wisdom in it and every article is written by a proven sales pro who has been in our shoes, not an academic or manager from some ivory tower.

The down side is the books organization. It isn’t divided into sections such as prospecting, qualifying, closing, etc. While the book contains multiple articles on each subject they are intermingled throughout, like a newspaper that continues a story inside to force you to go through the entire paper. This is a great airplane or waiting room read. I find myself rereading many of the articles several times, going back to important ideas and quotes. After you read this book you can get more information by reading the various authors books.
Top Dog Sales Secrets: 50 Top Experts Show You Proven Ways to Skyrocket Your Sales

Some Common Ecommerce Terms Explained

For those new to the world of ecommerce, understanding commonly used terms can help to demystify the process of getting started.  Selling on the internet - ecommerce - requires having a place where sales occur, getting customers to that place, and closing the sale.

In ecommerce, the “place” customers shop is the website, sometimes called the storefront. Software controls the appearance and functionality of the website. Fortunately almost every type of website creation software - html coding, blogging, content management platforms - have ecommerce tools. Shopping carts, merchant card processing, links to Paypal and other popular payment systems can be added to websites even if they’re not built into the original design.

Common marketing practices include advertising the storefront on other websites, using search-driven services such as Google AdWords, creating information-packed email publications called ezines, and opt-in newsletters, which require potential customers to request the information.

When customers click on the link in a newsletter, ezine, or ad, they are taken to a landing page - a  page within website page or the only page of the website where the customer goes, i.e. lands.  The purpose of the landing page must be very specific.  The most common purposes of landing pages are to either sell a product or get the viewer to submit their contact information, usally their first name and email address. Landing pages are very effective to build an email subscriber list and sell products.

The success rate of a Landing Page is called the conversion factor. The conversion factor is the ratio of how many people buy or subscribe compared to how many people have visited . Each new visitor counts as a page impression, or hit. Tracking these numbers gives the seller an idea of how effective their marketing efforts are.  Advertisers charge by how many page impressions are delivered or by the number of clicks. Therefore knowing the conversion rate of your landing page is critically important.

Items positioned above the fold are those that appear in the part of the web page that first shows up when the storefront is loaded. In etailing, it is common practice to use this prime position to promote those products or services that the company most wants to customers to see. Often visitors never scroll down below the first page - the fold - therefore if the information above the fold isn’t compelling you’ll lose the visitor immediately.

When customers visit the storefront, cookies are deposited in their computers. Cookies are small files that track the customer’s preferences. For example, cookies record what pages have been visited and what products have been placed in the customer’s shopping cart.  Cookies are how the website remembers your name when you revisit a site. Cookies have many uses, such as recording your website information if you direct them to another site.

The shopping cart is the software that tracks items the customer selects for purchase, calculates the sales total, and collects payment information. This software can be incorporated into the storefront and managed by the etailer, or into a separate program that etailers contract an independent party to maintain and host.

Offering multiple payment options is one way to make the process easier for customers. Online sellers typically accept payment via PayPal (an online funds transfer service), by credit cards, and through echecks which take funds directly from the customer’s checking account.

Customer relations management (CRM) refers to all practices and procedures the seller uses to ensure a positive experience for customers. This can include providing live support or a toll-free number, sending confirmation and thank-you emails following a purchase, offering a fair and efficient return and refund policy, and maintaining contact after the purchase to encourage repeat business.

Like any new field, ecommerce has its own language and culture. Understanding the vocabulary removes the confusion and makes online sellers more effective in their marketing and sales efforts.

Essential Resources for Going Online

Domain name? Hosting account? Dreams of riches? The basics are in check and you’re ready to jump in the Internet. It’s exciting, fast paced and competitive. It’s also a tough arena to gain success in. Anybody can start a website. But how will your site stand apart from the sea of millions and retain a loyal consumer base? How will you grow? A steady stream of resources and tools are essential. Here are some tips to help you on your way.

How will you get paid? The options are plentiful and require careful consideration for your specific business model. Option one is a true merchant account. A merchant account is solely yours and must be granted through a processing bank. The merchant is completely responsible for the account, including gateway access.

Qualifications can be steep for a true merchant account and you must be a legally registered business to apply. Like anything credit related, the merchant’s credit score will determine factor eligibility and rates. If your site has low transaction volumes, a merchant account may be too costly as fees are incurred with minimal usage. While a merchant account gives you complete control it can be difficult to obtain and costly to maintain.

A popular and less expensive alternative is third party processing. Essentially the merchant is able to utilize the true merchant account of a third party. Paypal.com is perhaps one of the most widely recognized third party processing companies. In lieu of a credit check, only identity verification is required. Third party processing is easy to integrate with an existing website by adding a few simple lines of code. In other words, no programming knowledge is necessary. Third party merchant accounts rarely require any sort of contract or commitment. If you are just starting out, the ease of use, low cost and flexibility of a third party merchant account can be a terrific asset.

Know your customers. It seems elementary but is not as easy as it sounds. Most web hosting companies offer a plethora of statistics included in your package. It would be nice to have a single magic tool to learn why visitors to your site don’t make a purchase. Unfortunately such a tool doesn’t exist. The best way is to simply ask. The key to getting accurate and helpful feedback is to inquire in a non-obstructive way. It may sound old-fashioned but the old adage stands true; you won’t know if you don’t ask.

Make them feel secure. Internet consumers need to feel secure in all phases of the transaction. The protection of their financial and personal information is paramount. All websites must meet four requirements: privacy, integrity, authentication and non-repudiation. Most sites leave the mechanics to their hosting company but it’s very important to understand the basics.

Customer service is still king. When we shop we like to know the merchant is available to answer questions and assist us with all phases of our purchase. We might not need a sales person but it’s nice to know the option is there. Website customer service software has become a necessity. Implementing solutions to immediately assist customers with live interaction is a sure-fire way to acquire repeat customers. Internet consumers are savvy. Immediate satisfaction is matched only by the demand for accurate, real time information.

Hop aboard the Internet marketing train and don’t buy a one-way ticket. If you want to stay afloat, a multifaceted marketing plan is the only way to survive. Webmasters can no longer rely on a single action marketing philosophy. Craft a marketing plan that encompasses email, newsletters, blogs, link exchanges, search engine optimization, article database submission and cross promotion. Long gone are the days of marketing only to the consumer. A solid business to business marketing plan has become essential in today’s economy.

Internet resources are plentiful, the solutions robust. Create your own excitement and commit to the long haul. Weathering growing pains can lead to big gains. Success and longevity are attainable once the fundamentals have been implemented.

Five Reasons to Conduct an Online Conference

Even if you enjoy going to new places, traveling can be tiresome. Security concerns have made getting through the airport a hassle, and airfare rates are nothing to sneeze at. These are some of the reasons why online conferencing has become a much more attractive option.

Online conferencing is simply a meeting conducted over the Internet. In its most basic form, it can be done with little more than a chat room or instant messaging software. But for maximum functionality, you can purchase online conferencing software and use audio, either online or over the phone. You can also use video if you like.

Here are some reasons to give online conferencing a try:

1. Online conferencing gives you the potential for a better turnout. Due to travel difficulties and schedule conflicts that can arise with face-to-face meetings, holding your conference online can allow more people to come. Online conferencing also saves participants money and keeps them from having to leave their families behind for several days at a time to attend.

2. Online conferencing is less expensive and more convenient for you. Holding a conference at a physical location is no small undertaking. You have to secure a location, purchase decorations and refreshments, and print out materials for the attendees. Even a small face-to-face meeting requires a certain amount of scheduling and expense. Having your conference online is more economical and less stressful.

3. Having an online conference provides a great deal of flexibility. You can collaborate on projects, make presentations with streaming video, and have discussions via the phone or chat. Questions may be asked by phone, email or instant message, or even by video.

4. With online conferencing, everyone gets a front row seat. Participants are responsible for making their own accommodations. If they need to turn up the volume to hear you or adjust their screen resolution to see things better, they can do it. They don’t have to worry about getting stuck sitting behind someone who is a foot taller than them and not being able to see what’s going on.

5. You can easily make your conference available on demand. Most online conferencing providers offer the option to record your conference and make it available by download or streaming audio or video on your website. This way those who were unable to attend can see what they missed. You might also choose to make transcripts available for those who prefer them.

Online conferences have not replaced face-to-face meetings, but they have lots of advantages over them. They are convenient and inexpensive for everyone involved, and they often result in better turnouts. Online conferences are great for seminars, project collaboration, and much more.

Online conferences can also be used for prospecting, lead generation, and lead nurturing. They develop your brand with new and existing customers. Customers perceive online conferences as having high value. They can be used to demo products, sell, train, and gather information from the market.  Now that there are so many inexpensive online conference providers and inexpensive software and equipment to have these type of conferences there is no reason not add online conferencing to your Internet toolkit.

How to Increase Sales 20% by Doing this One Thing

Don’t Limit Your Business to One Payment Method

A study of American websites found that offering more than one payment method increased sales twenty percent! Shoppers would add items to their cart, proceed to check-out, then fail to complete the transaction if their preferred method of payment was not available.

If the objective of generating visitors - traffic - is to achieve a high sales (the conversion rate), it makes sense to eliminate any obstacle that may interfere with the outcome. Limiting a business to just one payment method can mean fewer sales, and ultimately, less profit.

Clearly, offering multiple payment options is a convenience that consumers demand and is a simple way for business owners to increase sales.

Credit cards remain the most frequently used method of payment. However, some people choose not to use them for online purchases, creating the need for alternative methods. PayPal, with an estimated 50 million users worldwide, has filled that need. Other methods include electronic checks and, of course, good old-fashioned cash in the form of a check or money order by mail.

Each method obviously has advantages and disadvantages for the business owner. Credit card transactions carry fees that the merchant must cover, but as the most preferred payment method, accepting this form of payment ensures a healthy number of completed transactions.

PayPal is widely used among internet shoppers, and allows the merchant to accept payment by electronic check as well as credit cards. Fees are also assessed to the merchant for this type of transaction.

Accepting payment by mail opens the door to the small percentage of shoppers who do not trust even the most secure shopping cart and will not release personal information. The downside is the time it takes for the check to arrive and clear before shipping the order. Some consumers prefer to buy off-line and having a telephone number, a fax number and other off-line contact methods will increase sales.

When considering what options to offer shoppers, such as alternative payment methods, the business owner must think about the people behind the numbers. Without conducting a full-scale study, it is possible to develop a composite of the type of people who are likely to buy. What are their habits, their likes and dislikes, their preferences and concerns? The answers can help business owners decide what factors might prevent completion of a transaction, and more importantly, which options facilitate a sale.

A business can be successful even if it accepts only one form of payment. But providing shoppers with options simply removes one of the most common reasons for abandoning the sale and not buying. Offering multiple payment methods to potential customers will ultimately lead to higher conversion rates, increased sales, repeat business, and word-of-mouth referrals from satisfied customers.