Popularity: 15%

Tags: Marketing, top, tricks

18 Mar 08 5 FATAL MISTAKES In Resale Rights Marketing And How To Avoid Them

Resale rights marketing is an emerging approach in the field of internet marketing. There is a growing market for resale rights products and more and more online businessmen are catering to this segment and have been reporting monumental profits from their efforts.

Resale rights marketing involves the sale of products with their accompanying resale rights. These rights may either be basic resale rights (where the purchaser can resell the products he will buy), master resale rights (where the purchaser can resell the resale rights of the products he will buy) and private label rights (where the purchaser can alter the products he will buy, and by nature of the same, can sell the products as they are or with accompanying resale rights as well).

It is not difficult to explain the growing interests on resale rights products. These goods afford the purchasers the opportunity to earn from their purchases, as they could sell the same for profit. They won’t have to pay the creator any cumbersome royalty fees. They get to keep all the income they will earn from the sales they manage to effectuate.

*1* Though resale rights marketing does seem like a promising field, it is not completely free from problems. A lot of internet marketers who have decided to enter resale rights marketing have been prone to committing some fatal mistakes that gravely compromise the earning potentials of this approach. Let’s take a look at the top five mistakes that resale rights marketers make so that we’d learn how to avoid them.

*2*Selling resale rights products to many people. Indeed, you would set a ceiling as to how many copies you will sell. But if this ceiling is too high, the value of your resale rights products would still suffer. Selling to 1,000 people for example, would mean that each purchaser would have to compete with 999 other people for the same market. Your products would still be a hard sell. Solution: increase the price of your package but limit the cap to 50 or below.

*3* Failing to clearly enumerate the terms and conditions of usage license. Essential in resale rights is the license wherein they should be delineated. This license is a where the rules are established, and is likewise your guarantee to the purchasers that such rules shall strictly be implemented for the protection of their interests. Solution: carefully write down the limitations of the rights you will convey, and present the same in a license agreement, preferably in .pdf format. Adobe documents cannot easily be changed, and it would give your potential customers the security they need.

*4* Failing to honor the terms and conditions you have set yourself. Nothing can compromise your brand worse than your failure to live up to your promises. If you promise to sell 50 resale rights of a product, you can’t sell 51 and claim a counting error. If you promise to give them private label rights, you cannot restrict the way they could alter the work. Solution: exercise candor in your dealings at all times.

*5* Selling resale rights at the height of the product’s market life. This may be a plus for your potential customers, but it surely is a negative for you on a business standpoint. If the product promises high salability, you’ll be better off selling it yourself, exclusively at that. Nonetheless, this is a matter of preference. If you want to focus on product creation and allow your customers to take care of the marketing aspect, then this would prove to be a good approach. Solution: have a business plan before venturing to resale rights marketing.

Popularity: 13%

Tags: Marketing, mistakes, top

08 Mar 08 Why do we buy things we buy?

Why do we buy things? Do you realise your own reasons? Scientists and business-analytics have found main reasons why people buy. Here is a list - check it and find your own!

Basic Needs - We buy things to fulfill what Maslow describes as the bottom of his hierarchy; things like food and shelter.

Convenience - You need something now and will take the easiest or fastest path to get it. Think about the last time you were running out of gas, or were thirsty and found the nearest beverage of choice. This could also be choosing the safe vendor (no one ever gets fired for hiring IBM), purchasing something to increase comfort or efficiency.

Replacement - Sometimes you buy because you need to replace old things you have (e.g., clothes that don’t fit or are out-of-date). This could be moving from a VCR to a DVD player.

Scarcity - This could be around collectibles or a perceived need that something may run out or have limited availability in the future. Additionally, there’s a hope to gain a return on investment, such as collectible or antiques; anything that accrues value over time.

Prestige or Aspirational purchase - Something is purchased for an esteem-related reason or for personal enrichment.

Emotional Vacuum - Sometimes you just buy to try to replace things you cannot have and never will.

Lower prices - Something you identified earlier as a want is now a lower price than before. Maybe you were browsing for a particular large screen TV and you saw a great summer special.

Great Value - When the perceived value substantially exceeds the price of a product or service. This is something you don’t particularly need, you just feel it’s too good a deal to pass up. (Like the stuff they place near the end caps or checkout counters of stores.)

Name Recognition - When purchasing a category you’re unfamiliar with, branding plays a big role. Maybe you had to buy diapers for a family member and you reach for Pampers because of you’re familiarity with the brand, even though you don’t have children yourself.

Fad or Innovation - Everybody wants the latest and greatest. (iPhone mania.) This could also be when someone mimics their favorite celebrity.

Compulsory Purchase - Some external force, like school books, uniforms, or something your boss asked you to do, makes it mandatory. This often happens in emergencies, such as when you need a plumber.

Ego Stroking - Sometimes you make a purchase to impress/attract the opposite sex; to have something bigger/better than others, friends, etc. To look like an expert/aficionado; to meet a standard of social status, often exceeding what’s realistically affordable to make it at least seem like you operate at a higher level.

Niche Identity - Something that helps bond you to a cultural, religious or community affiliation. Maybe you’re a Harvard alumni and Yankee fan who keeps kosher. (You can also find anti-niche identity by rebellion, assuming you’re pretty comfortable with irony.)

Peer Pressure - Something is purchased because your friends want you to. You may need to think back to your teen years to think of an example.

The “Girl Scout Cookie Effect” - People feel better about themselves by feeling as though they’re giving to others, almost especially when they’re promised something in return. Purchasing things they don’t need–or wouldn’t normally purchase–because it will help another person or make the world a better place incrementally is essential certain buying decision.

Reciprocity or Guilt - This happens when somebody–usually an acquaintance, or someone rarely gift-worthy–buys you a gift or does something exceptionally nice and/or unnecessary. Now it’s your turn to return the favor at the next opportunity. Examples:

• Event - When the social decorum of an event (e.g., wedding, bar mitzvah, etc.) dictates buying something or another.
• Holiday - ‘Nuff said.

Empathy - Sometimes people buy from other people because they listened and cared about them even if they had the lesser value alternative.

Addiction - This is outside the range of the normal human operating system, but it certainly exists and accounts for more sales than any of us can fathom.

Subscribe to get daily stats, tricks’n'tips and advices about marketing and business by email!

Popularity: 9%

Tags: list, Marketing, top

07 Mar 08 Top Marketing Tactics 2008!

What online marketing tactics will you select in 2008?

• Blogging (29%)
• Email marketing (16%)
• Search engine optimization (12%)
• Pay per click (8%)
• Social networks (Facebook, LinkedIn) (5%)
• Affiliate marketing (4%)
• Blogger relations (3%)
• Viral marketing (3%)
• Corporate web site (3%)
• Online public relations (3%)
• Free content (white papers) (3%)
• Behavioral targeting (2%)
• Video marketing (2%)
• Webinars/Teleconference (2%)
• User generated content (1%)
• Social News / Bookmarking (1%)
• IM / Microblogging (Twitter) (1%)
• Virtual tradeshows (1%)
• Online contests, giveaways (1%)
• Online communities/forums (1%)
• Paid reviews (1%)
• Blog advertising (1%)
• Online display ads (1%)
• Contextual Advertising (1%)
• Widgets (1%)
• Mobile ads (1%)
• Branded microsites (1%)
• Rich media apps/demos (Flash) (0%)
• Advergames (0%)
• Podcasts (0%)
• eCommerce Feeds/Comparison Shopping (0%)
• Virtual worlds (0%)
• RSS advertising (0%)
• Rich media avatars (0%)
• Sponsorship / Cross Branding (0%)

200 people voted!

Popularity: 5%

Tags: Marketing, top, tricks

07 Mar 08 10+4 Marketing horror-words

Statistics is the greatest human invention and the most powerful marketing tool. During my researches I’ve found top 14 most horrible words for all customers. So if you’re professional businessman - you should check it for yourself and learn them! Let’s start, my friend!

1. Price

This may be one of those “unavoidable terms” and in fact is one that seems to be expected in ecommerce sites, however, it might be worth testing different terms, or leaving it out completely (instead of saying “Price: $xxx” consider just listing the price as “$xxx”). Again, this depends on the site.

2. Cost

Again, possibly another unavoidable term on an ecommerce site, but one that is worth testing.

3. Sign

Do you ask your customers to “Sign In”? If so, you could be scaring them away before they ever complete a sale. If you must speak in terms like that, consider phrases such as “Log in”, “For your convenience, enter your details below”, “For faster checkout, enter your information below”.

(”Sign in”)

4. Buy

Do you have buttons on your site that say “Buy Now”? Consider altering those to something more friendly such as “Add to Cart”, “Add to Bag”, “Put in My Cart”. I’ve even heard conversion tests show that a phrase such as “Proceed to checkout” works (but have not tested it personally).

5. Expensive

Just a bad word, everywhere, not only in marketing

6. Deal

Instead of saying “weekly deals” “monthly deals” etc… consider rephrasing to use the word “Sales” or “Specials” instead. The word “deals” could imply the products on the site might be considered “cheap”. On the contrary, listing some products as deals could cause other consumers to think the rest of the products must be “overpriced” ordinarily. The ultimate perception is in the eye of the consumer.

7. Sold

Do you list products as “Sold Out”? If so, consider rewording to say “Out of Stock”, “Not Available”, or removing the product from your catalog totally until it becomes available again.

8. Charge

Do you say things like “Charge Information”, “Charge Card”, “Charge Your Account”, etc…? If so, consider rewording to something more user friendly such as “Billing Information”, “Credit Card”, etc…

9. Try

When cross selling products, do you say things like “Try these other products you may like”? If so, consider rewording to something like “Other items of similar interest”, “Other products you may also like” etc…

10. Bad

Examples of usage you want to avoid are “Bad Login” and “Bad Credit Card Number”. Reword to read “Incorrect Login” or “Invalid Credit Card Number”.

11. Lose

Under the right circumstances, saying “You cannot lose” or “You have nothing to Lose” might mean you have already lost. Rephrase to state a bullet list of customer benefits from the product instead.

12. Complicated

Instead of describing a product as “not complicated” say it’s “easy to use”

13. Risk

Risk is just another bad word, like an Expensive one. Only racers and superheroes love risk

14. Obligation

Watch out for the double whammy “Risk Free No Obligation” statements.

Popularity: 10%

Tags: Marketing, top, tricks

06 Mar 08 e-Marketing method’s costs per order

Popularity: 4%

Tags: Marketing, top