Sales

Well, I'm back (sort of) after taking a bit of a break this past week. I have to say, I feel refreshed after not writing for a week - good to do this every once in a while.

The following is a guest post from one of my Colleagues, a local web designer, Shannon Chiarenza.

What's in it for me? Get better results with incentives

Incentives are enticements that encourage one into action, a reward for participating. It gives people a reason to read your flyer, visit your website, click on that link, sign up for your newsletter or fill out your survey. How many flyers and brochures do you get in your mailbox that you don’t even look at, just toss into the recycle bin? It’s just more background noise in our lives, more clutter we have to deal with.

Give people a reason to act so you don't lose sales.

Our time is valuable, no incentive means I have no time for you

I recently received a letter in my mailbox from a back treatment clinic I've used before. Their treatments are effective and did help my back pain significantly however at $75 a visit it adds up quick, so I can’t go as often as I’d like. When I received this letter saying I was chosen to participate in a survey to help improve their treatments I was happy, I read it front to back looking for my incentive, quickly realizing there was nothing in it for me.

Into the recycle bin it went and a shame to, they spent a lot of money on stamps for their return envelopes and printing, not to mention all the waste of paper. In addition I felt somewhat insulted, they assumed that my being chosen should be reason enough.

What would have made me take time out of my day to spend half an hour on the phone for an interview? A free treatment, that’s it…one free treatment and I would participate. Maybe that’s selfish but my time is valuable to me and that seems like too much work when I get nothing in return. If they offered a free treatment in return for my participation I would've been happy to do it, they get the information they need to improve their service and I get to have a visit to help my back, we both win.

They probably got some people to participate however I wonder how many more they would have if they just offered an incentive? It’s more than just what my time is worth it’s the appreciation for my efforts, a thank you not only for helping their business but a thank you for having spent so much money on them in the past.

What's your incentive?

This is one thing that is hugely overlooked by business owners, not too many people are going to take time out of their day to do anything for you if you don’t offer something in return. If your going to spend the money on mailouts make sure in bold front and centre is your incentive, like " $10 off coupon inside", "free shipping" or "mention this brochure and receive XYZ for free" something that will stop people in their tracks and open that brochure, visit your store or call you up. Make it easy to do and worth the effort, same goes for your website, give people a reason to sign up for your newsletter, bookmark your site or fill out your survey.

Incentives are more than just a way to get people to do what you want, they act as a thank you for doing it, it shows appreciation and that is worth our time.

Shannon Chiarenza is a web-designer here in Vancouver, BC, Canada.

Finally, one of my articles was featured at the Carnival of Finance over at Funny About Money last week,

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A friend of mine asked me the other day if I could think of any ways to make extra money. It seems that his day job isn't enough to cover his bills or to go away on vacation as much as he wants.  I've been pondering this question for a while and have thought of some of the things I've done … here's a list of some of the ways I've attempted to make extra money. (You can read a similar post at Frugal Dad, where I got the inspiration for this post – 14 Ways to Raise Quick Cash)

BOUNCER/BARTENDER

I did this for almost a year and made some decent tips. I think I actually worked 7 days a week for a period of 6 months. But, I was a little grumpy with customers sometimes, especially after working 8 hours in an office.

Result: I just got too run down and my day job suffered. Had to quit to regain my energy.

CRAIGSLIST/EBAY

I managed to sell quite a few things on eBay and Craigslist. eBay was ok but I found the auction format somewhat tiresome; they do have a 'Buy Now' option for experienced sellers. I also found it a pain dealing with postage/handling – how much do you charge without scaring off potential customers yet still covering your costs? Don't get me started on Craigslist low-ballers – the scourge of the internet.

Result: I stopped doing this so much as I ran out of things to sell plus I found it took too much time in relation to the revenue. I guess if you find the right product it could be fine. Drop-shipping is also great if a company will do it for you.

TAXES

I know many accountants who do this on the side and you can earn some decent cash. But you need to have the proper software and insurance and some people are too cheap to pay a decent rate. You also need many clients to make some good cash – let's just say I've worked some long hours when tax time hits.

Result: I don't do this so much anymore as the cost of software/insurance is skyrocketing. People seem to almost want this service for free … especially friends! I also found my health took a bit of a hit because of the long hours.

PRODUCED A SHOW

I co-produced and co-starred in a show at the Vancouver Fringe Festival back in 2007. We thought we could make extra money AND get to perform and have fun. The reviews were horrid and it was painful listening to the slamming of doors as people left the theatre. I laugh about it now. I actually have a video somewhere but it is firmly hidden on my hard drive with the appropriate encryption.

Result: we didn't do a very good job on the marketing and our piano player turned into a real Divo. Plus, our concept and execution were generally quite poor – it was based on the music of Kurt Weill – think depressing, German show tunes.

NETWORK MARKETING

I can hear the groans, already. I've been doing this for several years now and must admit, I haven't made a lot of money. Many of the stereotypes of networking marketing types are true but also many are not – it just depends on the people. But, I am having fun and learning lots of new skills and doing things I never thought I could do.

Result: I plan on continuing – I've made a pact to not harass my friends and family and to just try and be as honest as I can.

So, there you have it – I haven't made a lot of money but I feel the experiences have been priceless and will serve me well in my future money-earning endeavours. I also have many amazing (and frequently hilarious) memories that I'll be able to reflect on for years to come.

As for my friend, what did I tell him?

I told him to focus on getting a budget and learning to live and save off the money he currently earns. The problems with part-time jobs are that they sap your time and energy (and health) and can seriously affect your performance in your day job.

Live on what you earn.

A final piece of advice (and I know he's reading) … stop buying shoes! ;)

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Network marketing has a bad reputation in many circles and some people report quitting and not making much money. Well, here are a few things which I think will ensure success in the network marketing industry.

STICK WITH IT FOR THE LONG TERM
It’s not about making fast money so expecting to make it rich quickly is highly unrealistic. If you’re not making some kind of income after 6 months to a year then it’s time to evaluate what you’re doing. Are you actually putting enough time into your business? If you’re not getting results find a new strategy.

BE PASSIONATE ABOUT THE PRODUCT
Do you actually enjoy the product you’re selling? Do you use it everyday and love telling people how much you love it? This is half the battle – if you don’t really care about the product and can only think of dollar signs, it’s time to get out or seek another product. Be a product of the product!

CHANGE YOUR EMPLOYEE MENTALITY
Employees expect to be paid for every hour they work, regardless of their performance. Entrepreneurs, on the other hand, know that sometimes they will work hard and not be paid – sometimes they will put in many hours and something just might not work; they know it’s about building and being patient. Employees are looking for a job; entrepreneurs are looking for freedom to do what they want when they want.

LEARN TO GO OUT OF YOUR COMFORT ZONE
Have an open mind about learning new skills. Yes, it may involve doing something out of your comfort zone which may be difficult at first, but eventually, it will get easy and soon you will be a pro. Going out of your comfort zone involves losing your fear of failure. Failure can be a learning experience and will only make you stronger in the long term.

ASK QUESTIONS AND FIND A NEED
The traditional sales approach involves prospecting as many people as you can then dealing with their objections when they don’t seem to want your product. I don’t know about you, but this simply doesn’t work for me and feels very uncomfortable. What I prefer doing is speaking with people and finding if they have a need that needs to be filled. I like this better because people often come to their own conclusion that they need your product!

LOVE WHAT YOU DO
This is similar to being passionate about the product but you have to really enjoy the daily activities involved in network marketing – like meeting new people, staying in contact with your customers, doing all the training. If you’re not having fun, people will be able to tell and you won’t attract new business partners or customers.

These are just a few ideas and I’m sure there are many more. Actually, they don’t just apply to networking marketing – I think they can be applied to just about anything in life!

"The Strump Financial Blog - a (sometimes) irreverent and (hopefully) useful take on personal finance and investing. Personal finance is fun."

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