Author Archives: admin

Selling The Unsavoury

Not every product is attractive in either appearance or function. Many fall into the yucky-but-necessary category. So how do you go about selling them? The makers of Naposure, a saline product designed to wash out a mucus laden nose, (apologies if you’re eating!) faced just this problem.

Their solution was to soften the whole thing by using attractive children in the advertisements, demonstrating the product. The cute and funny videos they made seemed to do the trick of making an unglamorous product visually attractive to the target market.

It’s a trick that toilet paper manufacturers have used for decades of course. What Labrador puppies have to do with the quality and effectiveness of Andrex is anyone’s guess, but they serve the function of making the product attractive, while very subtly conveying the benefits.

Perhaps if your product lacks a little glamour, you could think about making it more attractive and appealing by associating it in customer’s minds with something more acceptable. Something o give some thought to.

As an aside, I just discovered that toilet paper was first marketed in the United States just 150 years ago, and up until that point in time, everyone made ‘alternative arrangements’. Just give some thought to that the next time you’re bemoaning the fact that some modern day luxury you’ve become accustomed to isn’t working quite the way it should!

Motivational Quote Of The Day

“Count your age by friends, not years. Count your life by smiles, not tears.”                                             

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John Lennon

Alternative Quote Of The Day

“If at first you don’t succeed, try, try again. Then quit. No use being a damn fool about it.”  

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W.C Fields 

What’s New?

Almost every would-be entrepreneur I speak to is looking for something ‘new’…a product or service nobody has thought of before. But what exactly is ‘new’, and is this a realistic ambition?

In the early part of the twentieth century, long before the internet, The Boston Globe had an instant real time news feed product, backed by advertising. Breaking news was chalked up on huge boards and placed in the newsroom window which backed onto the street.

The news was usually conveyed by a headline (140 characters or less!) and behind it were paid advertisements. In addition telegraphed communications of boxing matches or football matches was shouted out by employees using loud hailers, round by round or play to an eager audience. Early multimedia in action!

Okay, it’s not quite Twitter, but the point I’m making is that the demand for news of events as they happened was always there, and there was a product to fill the demand. What’s available on the internet today is just a modern day manifestation of a product meeting the same demand.

Rather than looking for something completely new and unique, a more fruitful route to a lucrative business opportunity might be to look at what was popular in the past, and then how it can be given a modern twist. Technology changes, but underlying inbuilt human needs wants and desires do not.

Today’s National Day   

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NATIONAL JUNK FOOD DAY!  

PUBLISHERS NOTICE

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Hello,

I know, I know – It’s very big claim in that subject line.

But this really is one of the few extra income ideas where I genuinely believe you can use the word ‘Guaranteed’!

Look, I don’t want to beat about the bush with this.

I’ve had many years experience with these types of systems and this is one I can strongly recommend. 

Take a look today: 

www.streetwisenews.com/variant6 

Best Wishes  

john sig.png

John Harrison 

Premium Price For Profit

I spent an hour yesterday afternoon with an audiologist who sells hearing aids… 

And before you ask ~ no the hearing aid wasn’t for me. As my wife will confirm, I hear exactly what I want to hear. 

Anyway, I asked him about the difference between the mid-priced units he sold, and the top of the range, which were about 40% more expensive. He said that the differences weren’t huge ~ a few bells and whistles (actually that’s a terrible analogy…the last thing you want on a hearing aid is a whistle!) which most people wouldn’t need or use… 

So a lot more money for not much more benefit. 

And yet these units sold very well. 

Most products are affected by the phenomenon of diminishing returns as the price goes up beyond a certain point. Cars are an excellent example of this. The manufacturers create a standard car, and then offer more expensive variations on the theme, which offer some additional benefits, but the increase in price is far in excess of the increase in benefits. 

I own such a car. It’s a Porsche 996 GT2, and when it was new, it cost about 70% more than the standard 996. It goes faster, and looks better, but to the untrained eye, it’s not that different from the standard product. In fact, in some respects it’s worse, because it has no back seats and many creature comforts have been removed, to save weight. Oh and they appear to have done away with the suspension. And yet, the original buyers happily paid over £40,000 extra for the car. 

Now, before you think I’ve taken leave of my senses, I bought the car second-hand when it had depreciated to a point much closer to the current price of the standard car, and it’s actually now depreciating far less because of its exclusivity. But that wasn’t what influenced the original buyer. Like all buyers of premium-priced, top of the range products they purchased for one of a number of reasons:

1.  They have plenty of money and always have to have ‘the best’.

2.  They were prepared to ‘overpay’ for the unique benefit of the product.

3.  They crave exclusivity ~ to own something that very few people have ~ and are prepared to pay for the privilege.


When you think about most of the things you spend money on, there’s usually the opportunity to buy a premium-priced product ~ one which is better than the original, but probably not better value for money.

Consumer durables, furniture, clothes, food, holidays…just about everything. 

And here’s what’s interesting for you and me… 

No matter what product or service you sell, there is probably a hardcore of your customers who would pay considerably more for a ‘better’ version of the same product or service…and they’ll be prepared to pay far more than the enhancements cost to create. 

If you’re not currently doing anything to serve that latent demand, you’re missing a big profit opportunity. What’s more, you’re leaving yourself wide open to competitors jumping in and taking the cream off the top of your market. 

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 John Harrison

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PUBLISHERS NOTICE 

This Will Make You Money, Guaranteed 

Hello,

I know, I know – It’s very big claim in that subject line.

But this really is one of the few extra income ideas where I genuinely believe you can use the word ‘Guaranteed’!

Look, I don’t want to beat about the bush with this.

I’ve had many years experience with these types of systems and this is one I can strongly recommend.

Take a look today: 

www.streetwisenews.com/variant6  

Best Wishes

john sig.png

John Harrison 

THE POWER OF A GOOD REVIEW

Every restaurant owner knows that reviews on the likes of Trip Advisor are very important these days, but until recently, it was impossible to assess exactly how important.

Work by two economists at the University of California Professors Michael Anderson and Jeremy Magruder, is the first attempt to measure the relationship between online star ratings and customer’s purchasing decisions.

The pair focused on the effects of positive online ratings on 300 San Francisco restaurants.They found that a restaurant with a rating improved by just half a star – on a scale of 1 to 5 – was much more likely to be full at peak dining times. Indeed, an extra half-star rating caused a restaurant’s 7pm bookings to sell out up from 30% to 49% of the evenings it was open for business.

Many products and services are subject to online review scrutiny these days, and what’s important for restaurants is likely to be important elsewhere too.

Something to think about.

Motivational Quote Of The Day

 “Don’t cry because it’s over, smile because it happened.”                                                 

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Dr Seus

Alternative Quote Of The Day

“These are my principles. If you don’t like them, I have others.”   

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Grouch Marx 

Backyard Farmers

I like the idea of having a nice garden, and I like the idea of growing my own vegetables, but when it comes down to it I never get around to doing anything about it. It’s people like me….and perhaps the cash rich/time-and-space-poor population often found in major cities that Backyard Farmers is aimed at.

The company provide customers with a turnkey organic vegetable garden without the need to pick up a spade or get their hands dirty. Gardens cost around $2,000 (this is a US idea) and comprise raised soil beds, enhanced with micro nutrients and locally grown plants. The garden comes housed in a nice cedar frame and is watered via an in-built irrigation system.

I doubt that this makes sound economic sense for the customer, but for the kind of people who would buy into this, that’s not really the point.

Would this work here in the UK? Not everywhere obviously, but I can see a market for it in the more affluent towns and suburbs. Yes, economic times are tough, but there are still plenty of people with money to spend on things that take their fancy.

Today’s National Day   

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NATIONAL CELEBRATION OF LIFE DAY!  

         

PUBLISHERS NOTICE

This Will Make You Money, Guaranteed 

Hello,

I know, I know – It’s very big claim in that subject line.

But this really is one of the few extra income ideas where I genuinely believe you can use the word ‘Guaranteed’!

Look, I don’t want to beat about the bush with this.

I’ve had many years experience with these types of systems and this is one I can strongly recommend. 

Take a look today: 

www.streetwisenews.com/variant6 

Best Wishes  

john sig.png

John Harrison

BECOME A CONVICTION MARKETER…AND GET POOR

I’ve been trying to figure out why I’ve lost all respect for politicians, and I think I’ve found the answer. Paradoxically, it’s because they’ve become more like me.  

Let me explain… 

I’ve always admired conviction politicians – people like Margaret Thatcher, Tony Benn and Dennis Skinner. I may not agree with what they have to say, but I know when they say it, that it comes from the heart. They truly believe what they’re saying – they truly believe that what they’re proposing is right for the country. 

But politicians like these are of a dying breed. In fact they may have died out already. You’ll note I haven’t given you any examples from the modern era. That’s because I can’t think of any. There’s not really a place in modern politics, for people like this. 

The new approach is characterised by people like Tony Blair and David Cameron – chameleon-like characters who, if truthful, would respond to the question “What do you stand for?” with: 

“What do you want me to stand for. I’m flexible.” 

To my mind, this is morally indefensible, and I don’t understand why anyone would want to forge a political career on that footing. The idea that you form policies on the basis of what people say they want, rather than what you believe to be right, just seems ridiculous. Surely the whole point of going into politics is to bring about changes and improvements in the precise direction you believe to be right – not to deliver some half-arsed compromise, ordered up by an electorate primarily motivated by self-interest, greed and envy… 

If I’m going to find out what people want, and then deliver it to them, I’ll do it in a business thank you very much. The money is better and you get to sleep at night. And that’s what I choose to do. 

In a business, it’s called marketing ~ and it’s ethical and deserving of respect. In politics, it’s called opportunism ~ and it’s unethical, and deserving of contempt. In business, you have to give people what they want, but as a politician you should be giving them what they need. There’s a massive difference. 

If you go into politics, please become a conviction politician. I’ll vote for you at least. But if you go into business, please don’t become a conviction marketer. There’s no surer way to the poor house. 

Let me explain what I mean… 

So many people launch a business or money-making enterprise on the back of a conviction. They have an idea for a product or service, and believe that it’s something people need and will pay for. They have no evidence for this, other than their own firmly-held belief. I speak to people like this all the time. 

They approach me with a product or service they’d like me to sell for them. They’ve often spent months (sometimes years) perfecting their offering, without ever going to the trouble of finding out whether people actually want what they’ve perfected. When I ask them about their market research, their test promotions, or their target market, there’s no response other than: “Well, we haven’t done that yet.” 

And what they’ve ended up with, is something perfectly crafted ~ but something there’s a strong possibility that nobody wants to buy. Such is their belief, their conviction, in the product, that they’re blinded to the realities of the market. That’s fine for a politician on a crusade to bring about change he believes in, and being paid to do it, but out-and-out disaster for any entrepreneur who stands or falls on sales and profit. 

Take a leaf out of the modern politicians book… 

Find out what people want and then set about delivering it to them. Don’t waste time and energy trying to sell what you think they need. Sell them what they want instead. And don’t fall in love with your product. Be prepared to adapt and change it into a form that will attract the maximum number of buyers. 

As a politician it’s what makes you a contemptible opportunist ~ but as a marketer it’s what makes you rich.   

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 John Harrison

FALSE FORECASTS

Just read a list of expensive mistakes that businesses make in Forbes magazine, and one error in particular struck a chord – making wildly optimistic sales forecasts.

One of the recurrent head-in-hands moments for me, is when someone hoping to do business with us says something along the lines of…”If just one person in a thousand who reads our ad places an order, we’ll make…”It sounds logical, it sounds viable but it rarely is. It’s usually based on nothing more than guess work…surely one in a thousand will be easy. Most of the time it won’t.

The bottom line is to always make sure your sales forecasts are based on hard facts rather than what ‘common sense’ tells you what should be a viable response from a big target market. It rarely works the way you expect.

Motivational Quote Of The Day

“If everyone is thinking alike, then somebody isn’t thinking.”                                       

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George S Patton

Alternative Quote Of The Day

“The biggest thing in my life right now is my girlfriend. I love this girl. I know I love her because she told me.”                                                                    

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Adam Ferrara

Are You Doing Too Much?

Sometimes, what seems like a retrograde step turns out to be quite the opposite. When Terri Urbash left her job as a court reporter to start a family, she expected her income to go into reverse, but in fact the opposite happened. 

You see, the assignments continued to come in, and because she couldn’t now deal with them personally, she started farming them out to other court reporters. Then a large insurance company was looking to hire a deposition service. Urbash assumed it would go to a national competitor, but she applied for the contract anyway, and she got it. Network Deposition Services has soared since landing the client, expanding throughout Pennsylvania and now moving across the country.

What Urbash discovered perhaps by accident, is that you only start to make some real money when you stop DOING the work and start ORGANISING the work. There are only so many hours you can personally work each day or week, but when you start organising the work of others, you can profit from an almost infinite number of hours worked.

Are you guilty of spending too much time doing it, and not enough time organising it? 

Today’s National Day   

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NATIONAL LAZY DAY!  

         

PUBLISHERS NOTICE

This Will Make You Money, Guaranteed

Hello, 

I know, I know – It’s very big claim in that subject line. 

But this really is one of the few extra income ideas where I genuinely believe you can use the word ‘Guaranteed’!

Look, I don’t want to beat about the bush with this.

I’ve had many years experience with these types of systems and this is one I can strongly recommend. 

Take a look today:

www.streetwisenews.com/variant6 

Best Wishes  

john sig.png

John Harrison