Hello! GoldmineDistriBiz readers, welcome to your blog this week. I hope you enjoy reading these last articles I posted? I thank God for that. Now, I would like to share with you about how to sell products for a quick turnover I got a message Blogspot Alert through my blog stat.
TIP#1: Marketing Price
Selling for a quick turnover is as easy as A.B.C. But most entrepreneurs either online or offline make little mistakes because they sell at hiking prices. That is why they don’t make more money daily. Even if they sell value, they still don’t make money as they hope quick turnover. They lose customers to other smart entrepreneurs because of their greed. Selling at the hiking prices scares customers from buying into your products or service.
Read a true story here as an example as I read in the Financial and Investment weekly on March 12-18, 20012: Taefook was a CEO of ZestRobot shared his experience as he was interviewed. When he opened his email in the inbox, he noticed the headline saying EARN $5,000 TRADING ON FOREX. He was interested in it by clicking it because he wanted to know what it was. But when read through this information about the operation of the Forex, he wanted to buy it.
So he clicked it, he found that the ebook an author sold was $150(#24,000). He refused to buy it, not because of his financial situation, but because of too much. That is called extraordinary prices. Can’t you see, readers? Customers can’t buy into products or services even its qualities because of high prices.
Read this story again as I studied secretly how Jimmy D.Brown successfully outsold his expert competitors through the publication Success Digest Extra newspaper. No matter what value the high competitors sold, Jimmy D.Brown still beat them by outselling the same value as them in different titles. How? For example, he saw that customers could not buy into his competitors’ products because of its cost.
So he took advantage of this by making the same information on how to dos product as them in different titles and then selling them at cheaper prices like $3 or $5 or $10. To his surprise, he made money over $50,000 (unreal amount because I do not remember rightly as I read in the newspaper) from over the world. He doesn’t worry about the small price he sells value. But what makes him most important is quick turnover daily. That is what he wants it.
And the rich know this secret because in my country, a kobo in hundreds brings you a naira; and a naira in hundreds of thousands brings you a million of naira. And Dump Trump; Robert Kiyosaki; Robert Allen; Aliko Dangote and other smart investors know this secret because a cent or a kobo is power that can get you rich in no time. I will write you about marketing volumes in tip#2 here later. But I am sorry because it may be different from what you sell outside the internet, but it is the same thing because it compares what you sell outside.
And when you see a manufacturer or a major distributor sell value at cheap or affordable price, you will know what I mean. They refuse to sell cost no matter what value it is for they fear possible collapse later in life. But what they want to keep their business quick daily is to sell value at each kobo. The rich place value on each kobo while the poor place value on each naira.
TIP#2: Marketing Volume
According to Damilola Ibironke where I read in the Publication Success Digest Extra newspaper, Vol.6, No.31, Monday, June 20, 2011, page 4, some retailers engage in hoarding. They buy when the product is cheap and wait until the price increases before they sell. This is usually counterproductive. It is better to concentrate on selling more volume rather than on hiking price to get more profit per litre. In essence, emphasis should be more on selling more quantities of kerosene in a month.
What marketing volume is? Why marketing volume? This is an indication of large numbers or quantities you buy and sell to make money. The second question is that it is because the more of volume you sell, the quicker you make money. For instance, when I buy 1000 copies on finance which costs me $300 and sell them on each $1.25 as cheap, I make $1250. But it may be small and I need more volume. So I buy 5000 copies of a product and when I distribute it to each shop seller in some cities little by little, I make $6250 more than $1250. This is secret which the rich know it.
Read a quote from Dennis Inyang: “The rich does not see any money as small money; he values every kobo. He knows that a kobo in a hundred places is a naira and a naira in a million places is a fortune. But the poor, on the other hand, is always dreaming of the “big break” and thinks nothing of the little money that comes his way. So if you are doing a business that depends on a turnover, you will easily understand this. The profit margin per item you sell is fifty kobo. A hundred of them sold give you fifty naira. To remain in business, you would need to sell thousands of those items daily. You would probably prefer to sell wholesale than retail so as to increase volume”.
Therefore, I say if you want to make a quick turnover in business daily, you need more volume or quantities to sell at each cheap price. You need to place value on each kobo to sell to make fast money daily rather than at each hiking price. Do you get me? Good! Try and see the result. But remember, sell neither too high nor too low. Understand? Thank you for reading. I will meet you again through posting this article on next week Sunday by God’s grace. Please stay with us next week.
No comments:
Post a Comment