These 3 marketing myths can cause you to lose sales if you base your marketing decisions on them. We've given you some marketing tips to blast each myth and boost your sales.
Myth 1: People buy a product at the cheapest price they can find.
That is not true - if it was then companies like Rolex and would not exist - Timex would have put them out of business a long time ago. Despite the ease of research that the internet affords - buyers are generally lazy and don't undertake full research. Even on eBay - where it is far easier to check the relative prices of a product - people often buy a product at a higher price than they can. So what causes people to buy? These are called buying triggers - the most common are:
Myth 2: Offering your customers numerous different options will boost your sales
When confronted with several options, most customers have difficulty making a decision. They often react by procrastinating - and going to a seller who offers a clearer product. Now by this we don't say add extras or upsells, just clearly state what's included in the product and don't offer options that not only confuse but making your selling and processing more difficult. The human mind works better when offered the two options "buy", "don't buy".
Blasting Myth 2:
Myth 3: Everybody Needs My Product or Service
Unfortunately, most people don't believe that they do need a particular service of product. Obviously with items such as iPods - your teenager will try and tell you they really, really, really need one, but this is peer pressure that has been built up with millions of dollars. Much of this was spent on research into what their market wanted - and they got it right!
If you believe this myth then you also believe that you can succeed without doing much marketing or selling. Unfortunately, despite what some marketers tell you - it does not happen that way. Undoubtedly there are some very successful marketers around, but they will all admit that a great deal of market research, testing and reviewing of their offerings - happened before they became successful.
Building a successful business is hard work - most of it devoted to finding potential customers and then matching them with your products and services. Even if most people can use your product or service, you still need a marketing strategy to reach them and a persuasive sales message to close sales - because you can bet your last dollar - that wherever there are lots of potential customers, there are just as many sellers.
Blasting Myth 3:
Unless you are one of the millionaire marketers around - you will find many myths that you follow and potentially lose money on. Hopefully the ones above have helped you. Lee Lister - Biz Guru