Small Business Marketing: Money… from dust
Special announcement later today. But first, here’s a very simple strategy you can use, to create a surge of money out of virtually nothing. It’s nothing mind-blowing, just one of those things you need to be reminded of, or prodded to do, that can bring in a windfall of cash from out of nowhere.
OK, here goes.
Last week we talked about “bundling” products. And I think I used the entertainment industry as an example, where they put boxed sets together, for Audio CDs and DVD movies.
Well another very similar thing you can do, is dust off your old products, and either bundle, repackage, or update them. There are 3 strategies you can use when you do this, that’ll make them even more appealing than simply blowing the dust off and then sticking a fresh clean label across the top. I’ll share them with you in just a minute. But…
I’m purposely going to stay away from examples related to information publishing. And that’s because if you can see how to use these strategies in difficult situations, it’ll be a breeze using them in the publishing industry. So here goes:
1. Update the contents!
I don’t care whether you’re publishing information or selling furniture. Making some kind of a modification to the product that creates the perception the product’s been ‘updated,’ is almost a necessity.
Bringing out the same old stuff you released before is only going to create a lukewarm reception. That’s why, many times, even when an artist releases a ‘Greatest Hits’ CD, they add a number of ‘previously unreleased’ tracks.
Unfortunately, most of the time, these tracks really suck, and there was a good reason they were unreleased in the first place. BUT… the point is to create a perception your buyers are getting something new. In the real world — the world you and I are living in right now, anyway — you don’t want to sell worthless items, so make sure the updates you make are valuable and appreciated.
2. Have your update reflect something people are talking about today.
For instance, if you’re a furniture manufacturer, update your wood using new, longer-lasting wood from more sustainable or environmentally friendly sources. Or use a different kind of staining process that’s environmentally safer, lasts longer, doesn’t fade so easily, or offers something else people want.
In other words, stay on the cutting edge!
3. Rename your product to reflect current pop culture!
This one’s easy. You could call something a “Recsssion Busting Update,” or an “Economic Recovery Update” or the “Stock Market Rebound” or the “Revised 2011 Update.”
Even something like a “New, Digital WIDE Sound Package” if you’re selling audio home speakers. (I’m listening to music right now, which is what made me think of this.)
The point is, tie the revision to your buyers concerns today, and you’ll easily be able to enter the conversation they’re already having inside their mind.
Doesn’t sound too difficult, does it?
Now go sell something, Craig Garber
P.S. “Craig, your book is brilliant. I’ve just finished Chapter 13. I thought I knew upsells pretty well…apparently not. The material is fantastic. Thanks so much.” Nick Penney – Richmond, United Kingdom (England)
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