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Marketing Lessons From Apples iPod
Apple Computer just announced that their earnings from the last quarter more than quadrupled mainly due to robust holiday sales of the iPod digital music player. More than 10 million iPods have been sold since it was introduced in 2001. There are some important marketing lessons to be learned from all this. First of all, Apple has created a product for a hungry market that has the financial means to purchase it even with the relatively high price point. If you find a hot and hungry market, create a product for it and you are almost guaranteed to succeed. Lesson #1: Find a hot and hungry market Ever since the introduction of the MP3 file format, we have seen the popularity of converting songs from a CD so that they can be stored on the computer. Even the Napster episode showed us that there is a huge market for a device like the iPod. Here's the summary of the first lesson - don't sell shovels to fishermen and fishing poles to gold miners. Rather, sell the shovels to gold miners and the fishing poles to fishermen. Create a product that already has an existing market. Lesson #2: Create different versions Now Apple just announced the introduction of the iPod Shuffle - a lower-priced version of the iPod with flash memory instead of hard drive storage. This strategy is called versioning. First create a product that sells. Then create another version of the product for a different market segment. In this case, Apple first came up with a more expensive product and followed it up with a cheaper product. Lesson #3: Create the halo effect The halo effect is essentially this: increasing sales of one popular product will generate more sales for your other existing products. In this case, the tremendous popularity of the iPod has created enough buzz that more people are buying Macs. In the past, Macs have made inroads only to a small segment of the market. But now, we're likely to see Apple increase its market share of personal computers in the months to come. So whatever you are selling, there are definitely some general marketing lessons to be learned from the success of the iPod. Think about it the next time you use your iPod. Hock Ng is the editor of The Marketing Tools Review, an online newsletter highlighting the latest marketing tools and strategies, especially for internet marketers. To find out more, visit: http://www.marketing-tools-review.com
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However, although you may be the most accomplished professional in the business, it does not necessarily ensure that clients will contract your services. It is as simple as that-brutal to be sure, but the truth none the less! Here is where you get to ensure that you are not one of the "other nine." Let Your Reputation Precede You We are all somebody's client-no pearl of wisdom there, I am afraid. However, think about the time-and we have all experienced this at one time or another-when you made a major purchase decision for a particular product or service without the usual angst. It just seemed the most obvious thing to drop the "green", or money, on the table. You were totally comfortable with your decision. Why was that? Dell (computers) was my experience, and not because Dell produces the best computers, either. For me, it was because their reputation for quality, and quality of service preceded them. What is the lesson that can be applied to translation style? 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One hears it all the time: these guys knew exactly what I wanted, and they got it right! Apply your listening skills and let your reputation precede you as a professional that gets the job done right first time. You will be rewarded many times over with repeated requests for your services. The job does not start until the paper work is complete! You need a contract that is detailed, and you need an agreement on that contract before anything happens. At a bare minimum, your contract should have clauses cover pricing, terms of payment, limitation of liability, delivery of product (service), dispute resolution, termination of arrangement and confidentiality. Now, some may think that a contract at this point will scare a potential client away-quite the contrary. It speaks loud and clear of "professionalism!" In addition to protecting yourself, you are dealing up front and honestly with an issue that is of obvious importance to the client. 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In addition to lending an aura of professionalism to your operation, stored records are a great source of information when your business grows to the point where data mining becomes feasible. Plan for the future now! I am a repeat customer of Dell. All our hardware (laptops, desktops, and servers) are Dell machines. As our business growths, there is a continual need to upgrade. How do I know what components to purchase? I simply log into my Dell account and enter the product number of the machine I need to upgrade. Every single information record about that machine is accessible-now that is business record keeping! Of course, not everyone has deep pockets for a state-of-the-art system, but you get the message. How long should you keep records for? In some countries, you are required by law to keep business records for a certain period of time. If you employ a project management software tool you essential have the option to store records forever (recommended). At a minimum, store records for at least one year. Communicate like a professional. This is a vast topic that I could never do justice to, and in an article of this length, I also run the risk of losing the original message. Allow me, instead, to focus on written communication since this is probably the most common form of communication that you will have with clients, and in most cases, it will be the first communication that you have with a client. Your writing abilities either are one of your greatest assets, or one of your greatest liabilities. That's it. A Japanese friend found herself in the un-enviable position of having to e-mail the entire company alerting them to an error she had made on a project that she was the lead project manager for. This was a critical error on a major project on which everyone had been slaving away for months. Tempers were very short. She asked for my input. I immediately realized that she was so stressed, and in such a hurry to fire off that e-mail that she had not done the best job she could have done on format, grammar or style. I explained to her that normally people would overlook such issues as trivial, but in the current situation, she would probably be put to the stake! We re-worked the e-mail several times, took a lazy dinner, and then re-worked it some. How did her colleagues respond? In her words "Oh... it was good response!" Written communication is incredibly powerful. Take writing courses if you have to. Definitely re-work everything that clients get to read until it is perfect. And remember this, once it is out there, it becomes a permanent record that you have no control over (i.e. can not edit) for ever. You can dominate the line up by projecting an image of a true professional. Researching the client, listening carefully to identify what the client wants, tying up (legal) issues that are of concern to the client, employing project management tools, and communicating in a clear and concise manner all serve to focus that image and polish your translation style. Do Not Make Clients Look For You Getting referrals, putting out resumes, working the phones, and pressing the flesh are marketing approaches that I am sure you are employing to stay on the client's radar. What more can you do? If you maintain visibility by employing any of these approaches, then like the rest of us, occasionally you drop of the client's radar. How does this happen? Well, physical addresses change, as do phone numbers, when you move. Maybe your e-mail address changed with your new ISP that you got a great deal on. Or, simply, you changed your e-mail provider because you were unhappy with the service. Do you even remember all the places where you have posted your contact details? The point is this: your hard work at staying visible is all for naught because the client will not be able to contact you about a proposal during this transitional phase, if at all. An internet web site offers a permanent solution. Most professionals shy away from a web presence for a number of reasons. They assume that the cost is too prohibitive, that they do not have the technical skill requirements, or that the commitment is too great. This could not be further from the truth. Unfortunately, these misconceptions may be preventing you from harnessing the full potential of the web to grow your freelance business. A web presence is within anybody's reach! What are the possibilities? Your internet address, or domain name, will never change, which means that you will have a permanent sign pointing to your office door. You will always have the latest version of your material in front of the client that can be accessed from anywhere at any time. In effect, you will be open for business 24/7. A web presence will not only stabilize your income, it will provide the opportunity for growth-planning for the future. Stay accessible to clients, stay in the line up. Who Do You Do Business With Let's revisit that major purchase decision that we happily made a while back. Sure, the product (service) came with a good reputation, the operation was professional, and we did not have to look too hard for it. In other words, even before we made the purchasing decision, we were already quite comfortable with the idea of making a purchasing decision. In effect, we were already "pre-sold." However, pre-sold is not quite the same as "sold." That fleeting interval between pre-sold and actually making the purchasing decision-laying out the green-is where it all happens. Sales people refer to this as "closing the sale." And sales people know that in order to close the sale, the client must not only feel comfortable with the deal, but must also like the person making the sale. Surprised? Do not be, you do it all the time, and so do your clients! All things being equal, we buy from those we like. That bears repeating: 10 candidates offering the exact same qualifications and benefits, and clients will always go with the professional they feel most comfortable with and like. I am afraid that there is not much that can be done about character-we are who we are. But, there definitely are some things that you can do to improve your "likeability" ranking. A good, positive attitude attracts clients. Clients do not want to work with professionals; they want to work with professionals that project a positive attitude. Just as we avoid colleagues that are unpleasant to be around, so do clients avoid contracting professionals that do not project the right attitude. Show appreciation for having the opportunity to work with a client. Send a card, nothing fancy or expensive, with a personal and original thank you message. You should try it-it works wonders. Have a genuine interest in your client's best interest. Share you insider knowledge of the industry with your client. When you can not take on a job (maybe you have enough work, or are not qualified for that particular subject matter), reach out to your network and forward the job to a colleague. You can also point clients to web sites that can handle their translation project. Clients appreciate these small acts of kindness, and they certainly do not forget about them! After completing under graduate school in Japan, I returned to Zambia briefly to help in the family business. We made it a policy to recommend customers to establishments-even if they were competitors-that most likely carried the product that we could not provide. Did customers ever appreciate it! They ended up coming around more regularly and making more purchases. Not only that, but even our competitors started referring their customers to us during stock outs. Of course, we made sure not to run out of stock too often-clients also have businesses to run? The customary caution is not to introduce the client to a nightmare. A good rule of thumb to follow is to never introduce the client to a product (service) that you yourself would not layout money for. When clients like you, you are the line up. Conclusion Ultimately, the success of your translation style can only be measured by the number of your clients, and the number of projects that those client entrust you with. That is very much a function of how successful you are in making your clients feel comfortable with your deal-as defined by reputation, professionalism and visibility-and by climbing in the "likeability" rankings. 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But if potential clients and customers don't know you exist, or can't find you, you will go bankrupt! They won't benefit from your services, and you won't make any money. So, marketing is a necessity. Advertising is one form of marketing, but it's terribly expensive. Here are the Top 10 alternatives: 10 Proven Ways To Accelerate Your Profits 1. Make copies of your web site in many different languages. This'll allow foreign speaking people to read your web site and advertisements. Helping Your Prospects Overcome ?Buying Fears? By Using Testimonials You DO use direct marketing for your small business? right? If so, you're taking advantage of the most cost-effective means of advertising available. (Yes? I'm biased? I admit it!) Whats In a Business Card? Over the years as I have attended trade shows, networking meetings, chamber events and more; I have noticed a few things about the successful and the not so successful. First of all, do you have a business card? If you belong to a large corporation, you were probably issued business cards as a matter of course, almost as if it was a company perk. If you are in a small or home-based business, chances are you, personally, made the effort to get business cards, which entailed design, print and distribution. So if you went to all of the trouble of acquiring them, you should use them to your advantage. Here are a few tried and true rules for marketing with your card. 1. Never leave home without the cards. I have stopped for coffee already and had someone ask me for a card because they saw my car sign as I pulled into the local coffee shop lot. If you want people to discredit you as a businessperson, all you have to do is say "Oh sorry I forgot my cards today." I have even been to trade shows and fellow exhibitors were walking around without cards. You have not only lost an immediate opportunity to market your business, but you look like an amateur who doesn't deserve the business. 2. Is the information correct? The reality is that sometimes we change our contact information. If you know that there will be changes in the near future, then limit the number of cards you have printed. Do not, scribble out and hand write information on your card. Back to "Can anyone say amateur?" I said that to someone once and his reply was, "yes but business cards are expensive." That says two things to me: 1) he didn't shop around for a good price and 2) AMATEUR! The idea is to attract business not scare it away. 3. Does the card say what you want it to say? What message are you trying to get across? When designing a business card, think about the placement of information on the card. Is the key information in a prominent place on the card? Does the design work with the rest of your company image? Your business card should be an extension of your company just like your logo, stationery, checks, signage, website and more. They should all get across the same message and design. 4. Can prospective clients contact you easily with the information provided on your card? This is a big one! Is your website up to date? Do you check your email at least once a day? (and respond!) Is your email address professional (not mycompany@genericfreeemail.com) Is your voice mail message clear, concise and professional? In this day of technology everyone assumes you must have email and a website for your business to be successful. This is not necessarily true. If you do not conduct business via email or internet then do not put that information on your card. No matter what you use, the key is to be accessible. 5. Are you marketing with your business card? Keeping them in your pocket is a waste of time and money. Be clear about who your target client is. When you see an opportunity slip in your business card. Do not be rude and pushy, but confident that the person could benefit from your services. If you are not sure that your business card is getting you where you want, market test it. Give it to some friends and colleagues and ask them for their opinions. If your friends are not going to be honest with you, then try "strangers." At the next event you attend ask some people what they think of your design. Want To Impress Customers, Win Clients and Influence People? Remember the baseball cards kids traded while chewing their way through kilos of noxious bubblegum, all for about a nickle a pack? No? Then ask your Dad. Are you familiar with the latest digital CD Cardz that look like traditional sports trading cards and play interactive video, triva, bios, stats, music, as well as desktop goodies? No? Then ask your kid. Seriously, my point is that times are changing and you no longer have to feel that you are either a stereotypical blue collar worker or a red necked Luddite. The truth is, you too can jump on the multimedia gravy train ? (just ask for 1st class compartment Serious) and utilize these cool mediums within your corporate environment. Over a career year, you probably hand out small forests of business cards with merely your contact information printed on them right? So what if you were to hand out a business card-sized CD-Rom instead, that not only had your contact information on it, but held your company website or a pertinent presentation, video, music, a free corporate screen saver etc, all hyperlinking to your on line site too? So we are talking a talking business card and there are two routes to take. If you want professional help in creating the all singing and dancing marketing tool, come to us at http://www.serious.com, where we will hold your hand and do the work for you. However in truth this is only viable for larger orders of cardz and you might well be a small business or a freelancer with no need for huge quantities, but yet still want to make a lasting impression. If this is the case, then you can buy our transparent blank 50 MB CD-R cardz from us and create your own! These come in starter packs of 10, with a label applicator, label and presentation software, including web site templates and there are also refill packs available. How to Successfully Promote your Business to an International Audience Breaking into the international marketplace can catapult a company into increased profitability and growth more rapidly than when selling to a domestic market. Mobile Marketing a New Age Strategy More and more companies seem to be looking for new and innovative ways to market their products. Overlooking most of the traditional marketing techniques, more companies are pioneering the relatively new mobile marketing campaign. Mobile event trailers and vehicle graphic wraps are bringing the products directly to the consumers. With an array of games, giveaways, contests and twenty-five foot product shots surrounding and engaging the consumer, it's hard to see why this form of marketing is not more widely used.
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