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When developing and marketing products and services, it is critical to clearly understand and communicate the offering's features and benefits.
A tremendous amount of coordination, effort, and savvy is necessary to launch a global sales strategy, according to the author.
To help motivate and reward his senior-level sales force, this entrepreneur writes that he uses phantom stock to allow associates to feel they own a piece of the company while retaining his full ownership of the firm. This compensation plan is based on sales reps' performance or time, and can serve as the basis for junior-level bonuses.
Pay-per-click advertising can be a great tool for qualifying prospects, driving them to your Web site, and ultimately increasing sales. Read how this entrepreneur has refined his use of sponsored links and pay-per-click advertising to zero in on his target niche, doubling order sizes and boosting overall sales three-fold.
If you're building a company for growth, don't ignore public relations but don't overdo it. The author says PR is much more than press releases-it's also about building relationships with investors, industry experts, and reporters to educate them about your product and industry.
Entrepreneurs can best harness the marketing potential of the Internet by designing sites that employ tactics such as bundling product offerings, says the founder of a technology company.
Netpreneurs--entrepreneurs who are building Internet-related businesses--are a breed apart, argues the writer. In building a new economy with vastly different attributes, these business owners must react quickly, adapt deftly, and zero in on specialties, or "niches," conducive to online commerce, says the author, who founded a software company in the 1970s and, more recently, a non-profit organization dedicated to helping communities take advantage of the Internet.
Earl Graves, the founder and publisher of Black Enterprise Magazine, offers statistical evidence and his own business experience to explain businesses lose out when they dismiss the fact that the African-American consumer is most interested in a product or service's business value, not it's perceived social value. The incorrect assumptions about the African-American market that many businesses make can be corrected through, as Graves has discovered, with persistence and careful explanations of the overwhelmingly positive qualities of the African-American consumer.
Bringing a technology-based product to market involves assessing customers' needs and convincing them that yours is the solution, rather than trumpeting its innovative features, writes the founder of a videoconferencing company. Included are various tactics for engaging in what the author calls "relationship selling" and likens to the venerable board game of Checkers.
There are four aspects to evaluating the effectiveness of your marketing activities--external factors, cost-benefits, feedback, and long term perspective.
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