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Step 4: Sell Your Products and Services Cost Effectively

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The Street Smart MBA

Abstract

The best product or service in the world will do you little good if you can’t market it successfully and cost-effectively. We have learned through the school of hard knocks the three fundamental rules of marketing, which are detailed in this chapter. First, you can’t rely on anyone else to sell your product for you—no matter how much money you throw at them. Second, nobody knows for sure how a marketing campaign will turn out. The only way to know for sure is to try it out and see what happens. Third, it’s no use spending money on marketing unless you also have a plan to track your results and see what’s working and what’s not working. We have discovered many easy-to-implement techniques that can greatly affect your sales and marketing success. These techniques are described in the following pages.

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Notes

  1. 1.

     This was most likely true.

  2. 2.

     In fact, we continued to test various marketing pieces for this book until we were finally able to find one that worked. It was the thirteenth piece that worked, and we successfully rolled it out nationally. Often, you may need both persistence and patience to find an effective marketing technique.

  3. 3.

     Sometimes more than a single question is needed to obtain accurate tracking information. When I was the senior partner in a personal injury law firm, each Sunday we advertised in our local Cape Cod newspaper to generate additional business. The ad was headlined: “Hurt, Injured, or Disabled?” Each Monday the office was extremely busy with phone calls from new potential clients. Every new potential client was asked how they heard about us. Over 10 percent of the clients said they saw our ad on TV. One little problem: We never advertised on TV. The lesson here is that you may have to press the new clients to make sure they are giving you accurate tracking information.

  4. 4.

     We won’t bore you with the details of why we chose this name.

  5. 5.

     For more on cost containment, please see Chapter 5.

  6. 6.

     Please see Chapter 1.

  7. 7.

     See Chapter 1 on building your brand by not jerking people around.

  8. 8.

     See Chapter 6.

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© 2013 James J. Mangraviti, Jr.

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Babitsky, S., Mangraviti, J.J. (2013). Step 4: Sell Your Products and Services Cost Effectively. In: The Street Smart MBA. Apress, Berkeley, CA. https://doi.org/10.1007/978-1-4302-4768-5_4

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