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Levels of New Market Development

A. Passive

Passive here means broad spectrum media ads which stimulate the front runners - who are the gasoline for the engine of the movement of any new product from “new” market development until it becomes a commodity. These are the TV or newspaper ads that stimulate enough people to act. This stimulus/response takes a little selling, but, is a lot easier than direct sales, and is a little harder than merchandising commodities.

B. Active

This is direct sales. Direct sales means that you called (or mailed to) them directly and went for a “yes” or “no” without them being predisposed in the first place. Direct sales is the most difficult to achieve, but is also the most rewarding when successfully accomplished. Because price is not an object.

For example: Media ads for new windows - Once there is an inquiry, a professional sales person is sent to “close” a sale. This is a skilled and highly paid professional. But even harder and more high-paying is the non-response selling of a new product or service. Getting an appointment on a new product (generating leads) is a chore in itself.

Secondly, sales of perceived value are lower in close rates than media response leads, but the control of the number of responses and sales is much greater. You are not dependent upon as many exterior conditions being favorable (seasons, inflation, etc.).

Mail order also falls into this last category. To be “good” at marketing any one of the above levels does not necessarily mean much with the other categories. Do you have inexpensive “passive” promotions? If you are selling an unknown product or service, are you describing what “problem” you are going to solve, or, how you are going to enhance their life from the status quo?

Daniel Wadleigh is a nationally published marketing consultant and has programs for start-up and existing businesses including effective web sites, e-mail/database, other non-internet ways to drive them to your website, and low cost ways to get more new customers.

Go to: http://www.more-new-customers.com to get free copy of “Marketing to Men vs. Women- the 8 different responses” and a Free copy of “Market Research- 7 Questions to Ask to Start-up and 7 to Ask to Improve Any Business.”

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There have been very effective ads that were nothing more than four or five testimonials, and it worked! The obvious reason for common usage of testimonials is the credibility that they represent. There also have been testimonials that have not worked, we are going to look into why for both cases.

Remembering the three part formula for an effective ad;

1) make the benefit promise,

2) document or prove your claims, and

3) make as irresistible and/or risk free an offer as possible; then it is clear to see that proper testimonials represent the first two, big time!

Even though establishing the importance of proper testimonials, it is equally important to establish the definition of “proper”. While declaring earlier that the most effective ads demonstrate the “positive benefits to you” of buying your product/service, it is a no-brainer to accept that testimonials should declare the same theme, particularly with one extra spin on them. There are far too many testimonials out there that say “he was on time”, “he did a good job”, “he knows what he is doing” or the like.

These are all declarations that he/it performed as expected, which is not bad, but not exceptional! The most effective idea is to convey the distinct impression that this is an exceptional value, that he/it delivers results beyond what is excepted, he/it went beyond the call of duty to give me exceptional service and satisfaction that could not be delivered by brand X!

eg.- “because of his large inventory on hand, I didn’t have to wait 4 days to get what I wanted, like I would have with the other guys”, or, “I’ve taken lots of different brands of supplements, but until they explained to me that I needed to take them with meals, did my pain go away”, or, “he called in his expert friends and they solved my problem, which nobody else could.” Or, even the dreaded “he forgot to bring a ___but he drove 2 hours to find one, just so I could ______.”

I contend that it is falsely considered heresy to admit that you ever made a mistake. If you admit that you aren’t perfect, but that you will make it right, then you demonstrating attitudes of humility and determination to do the right thing when needed. We all know that we all make mistakes. It’s the attitude about doing extra that should be in “proper” testimonials.

Daniel Wadleigh is a nationally published marketing consultant and has programs for start-up and existing businesses including effective web sites, e-mail/database, other non-internet ways to drive them to your website, and low cost ways to get more new customers.

Go to: http://www.more-new-customers.com to get free copy of “Marketing to Men vs. Women- the 8 different responses” and a Free copy of “Market Research- 7 Questions to Ask to Start-up and 7 to Ask to Improve Any Business.”

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There are basically two products/services that can be marketed. One is called commodities, the other is called new market development.

Commodities

These are products or services that have a commonly accepted benefit and a generally known and accepted price per unit. An example is a can of green beans, which “costs” about $.55. Brand name green beans, which have a recognized, dependable name, can cost a little more than “generic” beans. Generic products, however, are now becoming a commodity by repeated acceptance of the value (product’s price), partially because “known” stores are offering them, along with the reputation of the store being put on the line. Generic “colas” are similar to “Coke”, but not quite the same. A customer must decide if the taste difference justifies the cost difference - the higher price of “Coke.”

New Market Development

This is bringing to market products or services which are not (yet) commonly perceived as to the value of the benefits. This realm is for the bold. To prosper is to promote and create the perceived value of the product or service, in a way that has minimal risk of loss for the gamble taken. How to develop promotions wrapped around “added values” is all over the manual, however, know that new products can have sizzling profits wrapped around them, if you know and use the three essential components needed for every effective promotion.

1) Make the big benefit promise, with your unique way of delivering it.

2) Document all claims

3) remove all risk of buying your unproven product/service.

Daniel Wadleigh is a nationally published marketing consultant and has programs for start-up and existing businesses including effective web sites, e-mail/database, other non-internet ways to drive them to your website, and low cost ways to get more new customers.

Go to: http://www.more-new-customers.com to get free copy of “Marketing to Men vs. Women- the 8 different responses” and a Free copy of “Market Research- 7 Questions to Ask to Start-up and 7 to Ask to Improve Any Business.”

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