How to take advantage of a hot trend: coupons
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The news has been reporting that consumers are using coupons again. Coupon use is at an all time high. Dismissed as a 90’s fad, coupons haven’t been popular in recent years. However coupons are tied to economic cycles and they become very hot in downturns. A household budget can save almost 30% of their food expenses alone. Buyers can save in other areas as well. How can your business take advantage of this trend?
Coupons promote a business - even if they are never used - a mini ad that doesn’t cost anything to distribute on-line. Coupons will get referrals from your existing customers. Coupons will motivate buyers to buy even when they are worried about the economy. Perhaps that best part is that you control the timing and the offer. Have slow days - make an offer to encourage shopping during those time. Have some hard to move inventory - make a 2 for 1 offer. Use coupons for contents, bonuses and rewards.
Discount coupons give cost savings to customers while providing valuable data and inventory control to the seller. Here are five reasons that creating discount coupons can benefit a business:
- Bring in new customers. When a consumer is ready to buy and knows of multiple sources for the product, price is often the deciding factor. Consumers are attracted to a good deal. Offering a discount coupon to new customers provides an added reason to shop at a particular business over all other options.
- Encourage repeat business. Satisfied customers will be more likely to shop again when they are reminded to do so, and given a compelling reason to return. A special discount coupon can be sent via email at specific intervals as a thank-you for past purchases and to encourage repeat business.
- Increase order size. Time-limited offers create a sense of urgency and give customers a reason to buy more than they originally intended. Discount coupons can be offered for a percentage off the purchase price of a second item, for example, or for free shipping on orders totaling a specific amount.
- Tracking. Gathering data on customer trends is imperative for every seller. Issuing separate discount coupons for different mailings, website promotions and affiliate partners, for instance, provides important information on where customers come from and which marketing campaigns are most effective. This data can then be used to make decisions about future marketing programs.
- Control inventory flow. Physical stores manage inventory flow by marking down items they want to move. Coupons can be used for the same purpose. The discount can be offered across the board, or used to bring in new customers with an interest in that particular product category, or sent to previous customers who bought similar products.
There are several ways discount coupons can be applied. Businesses generally offer a set dollar amount off the normal price of a product, a percentage off the price of a single item, a discount on the order total, or free shipping on orders that exceed a minimum dollar amount.
Discount offers can be extended through a number of vehicles. They can be posted on the landing page of the storefront. They can be emailed to select past or potential customers. They can be introduced on the order summary page to encourage the customer to add items to the shopping cart. Or they can be listed at various coupon sites on the Internet.
Many retailers determine the effectiveness of their marketing strategies by tracking the use of discount coupons. The information can help businesses achieve the highest possible ROI and sales at the best available rates.
How to Generate Business Leads with Online Conference Calls
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One innovation that an increasing number of marketers are taking advantage of is the online conference call. The concept is similar to that of the traditional marketing conference call, with business leaders offering information and pitching their products, services or opportunities to prospects who call in. But utilizing the capabilities of the web can add a great deal to the experience.
How Do Online Conference Calls for Lead Generation Work?
In its most basic sense, an online conference call is simply a traditional conference call in which participants can view information online. You could set up a special password protected area on your website that you give callers access to, then have them call in so you can give a verbal presentation. This method is very inexpensive, but it is also quite limited.
Online conferencing software gives you more options. It usually has audio capabilities, so your callers can listen to audio without calling in if they like. Video capability is also included in most programs, so you can give a video presentation. And some offer the option of a messaging system so that prospects can ask questions or communicate back and forth with you or each other.
If you choose to utilize audio or video, you’ll need the proper equipment. A good microphone is necessary if you’re going to transmit the audio online, and you’ll need some type of webcam or video camera for video capture. It’s also important to make sure your conferencing software includes all of the components you’ll need before you even start planning your conference call.
Once everything is in order, you’ll need to plan your presentation. You’ll also need to set up your registration. This can be easily handled by an autoresponder. Requiring an email address from those who register will also give you the means to follow up with them later.
Once you’ve got all of the technical aspects taken care of, all that’s left is to promote your conference call. You can announce it on message boards, send the information to your mailing list, and spread the word to bloggers who write about related topics. Promoting offline can also entice people to come online to learn more and register.
Online conference calls are great lead generation tools. Setting one up doesn’t have to be difficult, and it allows prospects to interact with you in a way that was once only possible with a live event. So if you’re looking for a fresh, new way to get leads, consider online conferencing.
Generate Business Leads with Online Conference Calls
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One innovation that an increasing number of marketers are taking advantage of is the online conference call. The concept is similar to that of the traditional marketing conference call, with business leaders offering information and pitching their products, services or opportunities to prospects who call in. But utilizing the capabilities of the web can add a great deal to the experience.
How Do Online Conference Calls for Lead Generation Work?
In its most basic sense, an online conference call is simply a traditional conference call in which participants can view information online. You could set up a special password protected area on your website that you give callers access to, then have them call in so you can give a verbal presentation. This method is very inexpensive, but it is also quite limited.
Online conferencing software gives you more options. It usually has audio capabilities, so your callers can listen to audio without calling in if they like. Video capability is also included in most programs, so you can give a video presentation. And some offer the option of a messaging system so that prospects can ask questions or communicate back and forth with you or each other.
If you choose to utilize audio or video, you’ll need the proper equipment. A good microphone is necessary if you’re going to transmit the audio online, and you’ll need some type of webcam or video camera for video capture. It’s also important to make sure your conferencing software includes all of the components you’ll need before you even start planning your conference call.
Once everything is in order, you’ll need to plan your presentation. You’ll also need to set up your registration. This can be easily handled by an autoresponder. Requiring an email address from those who register will also give you the means to follow up with them later.
Once you’ve got all of the technical aspects taken care of, all that’s left is to promote your conference call. You can announce it on message boards, send the information to your mailing list, and spread the word to bloggers who write about related topics. Promoting offline can also entice people to come online to learn more and register.
Online conference calls are great lead generation tools. Setting one up doesn’t have to be difficult, and it allows prospects to interact with you in a way that was once only possible with a live event. So if you’re looking for a fresh, new way to get leads, consider online conferencing.
Is Accepting Credit Card Payments Necessary for Online Business Owners
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There are two ways that sites can arrange to accept credit card payments. One is by establishing a merchant account through the business owner’s own bank. Another is to use a third-party service to process the payments.
Bank Merchant Accounts – Most banks offer merchant accounts and processing gateways to their account holders. Funds from credit card purchases, less the agreed-upon fees, are deposited into the merchant account, then moved to the owner’s business or personal account on a regular basis (usually within 24 hours). The primary disadvantage is that approval for merchant accounts is more difficult to obtain for internet businesses than for standard retail businesses. Every bank has its own qualification guidelines and fee schedules.
Third-party services such as PayPal eliminate the need for a merchant account. They offer real-time processing of payments and transfer of funds to the business owner’s account for a fee, usually a small flat rate plus a percentage of the sale total per transaction.
Other features available might include a shopping cart that the business owner can install on the website, conversion from U.S. dollars to foreign currency, the ability to accept multiple forms of payment (such as electronic debits or echecks), customer service, and set-up assistance.
PayPal offers three account types, two of which can be used by merchants to accept credit card payments: the Premier Account and the Business Account. An individual can open a Premier Account, but a Business Account can only be opened by a registered business. A 2.9 percent fee is charged for receiving a payment, but as the dollar volume increases, the rate drops. Premier and Merchant Account holders can incorporate special html code into their website to create a “Buy Now” button. With one click, the customer is taken to a payment page to complete the transaction.
PayPal also provides a shopping cart to merchants. This software lets the consumer select multiple items for purchase, then proceed to the payment page to pay for all selections at once.
The cost for setting up a merchant account, processing gateway, and shopping cart can range from $500 to $1,500. For the start-up or small business owner, third-party services such as PayPal may provide a more accessible, affordable alternative to traditional banking options.
Seven Tips to Help Make Your Online Conference a Success
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Online conferencing eliminates the need for travel and all that it entails, but careful planning is still required. Here are seven things you can do to ensure that your online conference is all that you want it to be.
1. Make the time and date of your conference as convenient as possible. Try to avoid having a conference when most people will be working, as this will almost certainly adversely affect attendance. Also, try not to have it too early in the morning or too late in the evening. This can be rather difficult if you are expecting participants from many different time zones, but do the best you can.
2. Try out your online conferencing software before the conference. It is important to be familiar with how to operate everything ahead of time. If you haven’t used your software before, try it out a few times with friends or family before you have a big conference.
3. Hire a moderator. The moderator’s job is to introduce speakers, assist participants, and deal with some technical issues. He can keep everything behind the scenes going smoothly, taking that burden off of your shoulders so that you can concentrate on getting your message out.
4. Make hard copies of scripts and notes. It may be tempting to keep everything on the computer, but what if you have technical difficulties and are unable to access the documents you need to keep your conference going? Having a hard copy as a backup can keep the conference going if this should happen.
5. Provide opportunities for participants to interact. Have each one introduce himself as he calls or logs in. Hold a question and answer session. Make a chat room available for discussion and questions. The more you allow your participants to interact, the more interested they will be.
6. Give your online conference participants information they can use. This is essential to your conference’s success. If you discuss something that your target market will find useful, you will be more likely to attract the types of participants you’re looking for.
7. Promote your online conference. Announce it on your website and blog, post information about it on message boards, and spread the word to bloggers and webmasters whose audiences could benefit from it. The more people who know about your conference, the better your turnout will be.
What Does Web Conferencing Mean for Your Business?
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Web conferencing is a way for people to communicate and collaborate from their computers. There is no travel necessary, and planning is much easier than it would be for a face-to-face meeting. A web conference is convenient for all parties involved, because there is no need to extensively rearrange your schedule to attend.
Web conferences usually include some form of online communication, such as a chat room or instant messaging, utilizing either text or voice. They may also incorporate video, in which case it would be considered a video conference. It’s also possible to coordinate the online meeting with a conference call. This is good for participants who may not have a microphone or a fast, reliable connection to participate in voice chat.
What Purposes Can Web Conferencing Serve?
Web conferences can work well for a variety of meeting types. Some companies hold online expos with multiple presenters that are relevant to their target markets. Others use web conferencing to get service providers together to collaborate on projects. They are also handy for employee or contractor training when the employees or contractors are not in close physical proximity.
Communication with prospective customers or partners is another application that is well suited to web conferencing. Presentations can be held online through chat sessions, and points illustrated through a website or slideshow. You can also use video, either live or recorded, to present products or ideas.
Web Conferencing is Great for Prospecting!
Put the power of web conferencing to use in your prospecting and lead generation efforts. Offering free seminars, training events, how-to courses, case studies and QA sessions attracts prosects and builds customer loyalty. These efforts can even be turned into revenue producing events.
Make sure that you record these events because you can extend their use beyond the event itself. You can put videos on YouTube, put the audio recordings on your website, and my other clever uses. Often these recordings can be turned into products for sale or bonuses that you give prospects.
Having a web conference gives business tremendous reasons for sending out Press Releases and emails. Local bulletin boards and community sites will promote your web conferences on their calendars.
People are very busy and will often lock out a salesperson. However a free web conference or seminar may open the door. Buyers perceive them to be non-threatening and full of value, especially if the content interests them and you’ll market them in a compelling way.
What About Those Who Can’t Attend?
Even though web conferences are less expensive and more convenient to attend than those held at a physical location, there may be some people who can’t attend. But this group doesn’t have to be completely out of the loop. You can offer information from the conference for download.
Audio files from phone calls, video from the conference, and chat or instant message transcripts can be posted to your website for download. Those who weren’t there won’t get the opportunity to ask questions in a group setting, but they can benefit from the information that is there. If you’re charging for admittance to the conference or going for an air of exclusivity, however, it may be best not to post transcripts, audio or video.
Web conferencing has come a long way in a few short years, and it will undergo more changes as time goes on. But it is already becoming quite popular among business owners. Web conferencing can allow you to take your business to a global level without leaving your office.
Five Reasons to Conduct an Online Conference
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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
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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.
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