With the marketplace becoming increasingly competitive for professionals, service providers, and contractors…

…More people are focusing on their marketing efforts than ever before. While marketing seems to be the logical answer to the complex problem of creating greater awareness of your products and services, it’s not an all encompassing solution.

At the heart of every marketing issue is value

Understanding value starts with understanding what it means. For that we consult Merriam-Webster and its various definitions.

1: a fair return or equivalent in goods, services, or money for something exchanged
2: the monetary worth of something: market price
3: relative worth, utility, or importance
4: a good value at the price
5: the value of base stealing in baseball
6: had nothing of value to say
7: something (as a principle or quality) intrinsically valuable or desirable sought material values instead of human values – W. H. Jones

When doing business, we tend to think about profits

After all, so many companies have a singular focus on achieving their bottom lines. The companies that are surviving and succeeding are the ones whose business models emphasize value; the value that they provide with the creation of products and/or services which they offer.

No matter what business you are in, the food chain ends with a consumer of the products/services created. Basic marketing knowledge will help anyone target the right consumers, but it takes more than basic knowledge to understand what those consumers really value. For example, clothes sold at Target appeal to those who are budget conscious. This is not to confuse Target clothing with cheap clothes. What Target shoppers really value is not inexpensive clothes, but quality clothing that’s inexpensive. The value of the clothing is that it’s affordable and fits into their budget.

Understanding where the value lies in your business functions is crucial

Up and down the spectrum, I’m seeing more and more that value is being underestimated and overlooked. In the industry in which I spent the majority of my life, the music business, I see that there’s an alarming amount of music artists who have not embraced this mantra.

As tempting as it is to think that talent reigns supreme and content is king in the music industry, it is not. Those fallacies are indicative of prehistoric thinking. The music industry is not suffering from dwindling CD sales; it’s suffering from the lack of value that music fans are experiencing in their CDs, and the lack of value in their relationships with the music artists who are making them – not the talent or the talent levels.

Even with Michael Jackson, arguably the greatest entertainer of our time, talent did not reign supreme; the quality of his immense talents were at the core of the value that enriched and heightened the entertainment experience of his fans via his music, videos, and live performances. His relationship with his fans held tremendous value to them.

Value is the single factor which launched the sales of his album Thriller into the stratosphere. It still holds the record for the most albums sold.

In business, merely having knowledge of the product/service you are selling is not enough to understand its worth to consumers

The correlation between value and worth is too often understated. When you understand value, you actually move away from the selling of products and services, and begin to focus on the value of them.

People emotionally relate more to value than they do to price, and it’s a larger factor in purchasing decisions.

Take for consideration designer clothing. People place value on them, which increases their worth monetarily. Many designer brands consist of the same fabrics sold at Target, but people do not get the ego boost, adulation, or improved social status from wearing clothes from Target that they get from wearing designer brands.

People value the ego boost experience of designer brands and what they can (possibly) accomplish by wearing them. That’s where the value gets translated into status and the style points. How much do people value that? An amount that’s equal to the worth that’s reflected in the price of such items. Ditto for cars and other luxury (i.e. status) items.

Life insurance, which was once called death insurance, was more difficult to sell because the insurance companies misplaced its value. When trying to interest families to purchase insurance policies, what they placed an emphasis on was death, and the financial ramifications of it for families. Since insurance salesmen went door-to door, an unannounced visitor reminding families of the certainty of death, put many people off. They were not emotionally receptive to the value of it.

Shift the value of the policy from the morbid thought of death, to the peace of mind that can come from knowing your family will not be left in financial ruins in the event of your untimely death, and you really identify the value of having life insurance: preparation and peace of mind about death while living.

Perhaps the most challenging aspect of value is recognizing our own

Since businesses are created to make money, the necessity and benefit of value can be easily grasped for them in most cases. But what about individuals?

The value that we hold in relationships varies from person to person in the same way that designer clothes hold value to different people. It’s your responsibility to not only know what values you possess (see definitions 3 and 7 above), but to effectively communicate, or better yet, demonstrate those values to people who know you. The worth that they associate with your value is what yields the dividends for them, and gives you leverage to get paid what you are truly worth (see definitions 1 and 2 above).

If you are not being paid what you are worth, it’s because the person who is paying you does not value the product or services that you render

Period.

Self Image… Know Your Worth… Take Care Of YOU!

This is why positioning yourself (putting yourself in a position to be recognized in a favorable way in the minds of people who may pay you) is the most important work that you can do. It’s work of the highest importance and should be done even when you have job, or a large clientele.

Ultimately, we are valued for solving problems, fulfilling needs, or catering to desires. The worth of your value will always be tied to these principles. So when it comes to a question of value, the value is usually in the experience or the relationship which yields the dividends; that’s where your real focus should be, and that’s where your true worth lies.

Gian Fiero is an educator, speaker and consultant who specializes in business development, career planning, and personal growth issues.

Article Source: A Question of Value – Understanding Your Worth

© 2010, 1SocialMediaManager.com. All rights reserved. The format and presentations here are creations by this Website owner: ©1984 - Leanne C Boyd. All people and products reviewed here own their respective copyrights.

© 2012 1SocialMediaManager.com. All Rights Reserved.

Technorati Tags: basic marketing, Brands, business functions, business models, career, estimate, marketing, marketing efforts, marketplace, money, Price, product, professional, quality, question of value, relationship

Author: Kathleen Poole

Do You Sell Your Writing For Practically Nothing?

Do you respond to online “freelance banks” that promise the astonishing payment of $25 for a 500-word article, $100 for a print brochure or 59 cents per word?

Immediately stop selling yourself so cheap! If you have any writing talent at all, you deserve much, much more than many of those freelance-writing sites can offer.

It may seem tempting to take on these cheap jobs. You may think a little money is better than no money at all. But the time you spend writing a cheap article or e-zine could be much better spent looking for better paying jobs. They really are out there.

Do you really want to spend four hours writing an article that will bring you only $50? Your hourly rate would be a dismal $12.50. Even if you managed to work like that for 40 hours a week, which is extremely unlikely, your annual revenue would be $25,000 at the most, assuming you took a two-week vacation.

How well can you live on $25,000? As a freelance writer, will you be able to pay your own health insurance (which may be $500 or more per month)? Will you have enough money to promote your business and bring in high-paying clients? Will you ever save for retirement or your children’s college educations or your dream home? Will you ever pay off your debt? It’s much less likely that you can do any of these things if you continue to be a cheap writer.

The Internet is loaded with dozens of sites promising you all kinds of freelance work once you register (often for a fee). Many of these sites, though certainly not all, exploit young, inexperienced or desperate writers. Worst of all, they make it very difficult for good, decent, talented writers to make a comfortable living at their craft. Why should a client pay savvy Writer A $800 for a website article when cheap Writer B will do it for $30?

Here’s a typical scenario: Someone needs something written and heads for the Internet. They post their job on these cheapo sites and wait for the lowest possible bidders. These whippersnappers who think they can make good money cranking out $30 articles or $100 brochures shut out the experienced writers –the ones who know what their services are worth –. The truth is, you will never, ever be a prosperous writer if you accept low rates. In fact, you probably will be a miserable writer who will not last long as a freelancer.

As Long As The World Is Filled With Cheap Writers, It’s Much Harder For The Rest Of Us To Prosper

So I am imploring cheap writers to increase their prices. You will be pleasantly surprised when most clients will not balk at higher fees. You may find you get higher paying work because people perceive that you offer greater value when you change more.

“Won’t I lose a lot of clients if I raise my fees?” Yes, that’s possible. But without cheap clients in your way, you are freer to find and cultivate relationships with bigger fish–communications directors in large companies, creative directors at medium- and large-size ad agencies, companies that need to revamp their written communications so they can be more visible, accessible and prosperous. Imagine all you can do for them!

Many writers who want to prosper will be more than happy to help you price your services in line with the going rates, your value to your clients, and the benefits your writing can bring. You really do have negotiating power – a skill that can be learned. And remember, you have something the client wants: expert writing. The art of negotiating can be taught, and it’s really worth a little coaching to make sure you are paid what you are worth.

Bottom line: If a writer is willing to receive $25 or $50 or $100 for a 500-word article, that writer is not professional and has no idea how to be a successful freelance writer. Many clients will know you are green and will take advantage of your cheap prices. A cheap writer cannot be a prosperous writer without a complete shift in thinking and acting.

Protect Your Rights As A Writer

Talk to people who know about these things. And above all, don’t cheapen yourself and other professional writers by accepting writing assignments that pay a pittance. It hurts all of us, it hurts the profession and it hurts you.

For a reasonable estimate of writing, editing and related fees, click on this link: Writer’s Market 2008. You may charge more than the fees stated in this book if you have extensive experience in or knowledge of the industry. Also, some geographical areas more easily accept higher fees. In a later article I will talk about how to negotiate the best price for a freelance writing assignment.

In the meantime, give yourself a much-deserved raise in 2008! You may find yourself getting more high-quality clients!

About the Author

© 2008 by ProClarity, Inc. All Rights Reserved in all media. Kathy Poole has had a highly profitable freelance copywriting business since 1985. As a Writer’s Coach, she helps other writers prosper financially, create freely and live passionately. For more information, resources and inspiration, visit http://www.prosperouswriter.com. This article may be copied and distributed in its entirety and without alteration, if accompanied by this paragraph.

Article Source: http://www.articlesbase.com/writing-articles/dont-be-a-cheap-freelance-writer-313870.html

© 2010, 1SocialMediaManager.com. All rights reserved. The format and presentations here are creations by this Website owner: ©1984 - Leanne C Boyd. All people and products reviewed here own their respective copyrights.

© 2012 1SocialMediaManager.com. All Rights Reserved.

Technorati Tags: cheapen, estimate, freelance writer, freelance writing, freelancer, hourly rate, Kathleen Poole, money, Price, professional, Prosper, talented writers, website article, word article, writer author

How do you decide the best price for a JV product?

I’ve read a lot of very complicated, scientific theories on this. And I’m not sure any of them work. So here I’m going to run through a few very simple tips which I think you will find very useful.

Firstly, you need to know the economics of your business. You’ve got to know the price of your product and all your other overhead costs – like mailing, fulfillment and your partner’s JV commission. And you’ve got to add on a little bit… well preferably a lot… as a profit margin. It stands to sense that your perfect selling price has to be at least what all those amounts add up to.

Now what about the price in terms of marketing pull. Well, although it seems logical, charging the lowest price you can afford to charge is probably not the best strategy. You have to understand a bit about your product and your customer to know how price pushes their buying buttons.

To give you an example: I’ve seen modern art for sale in fashionable, posh-part-of-town art galleries at $250, $350, $500 and even more. Presumably someone must buy them, because those sort of upmarket businesses seem to do very nicely thank you. Then again, I’ve seen much the same thing up for sale in discount stores for $15… but they just sit gathering dust for months. You see, there’s something about the fashionable gallery environment that attracts the higher spending customer and persuades them to spend more on what they want. It’s just the same for lots of other JV-related products.

With every product there will also some level of price resistance. Together with various price points which the customer is happy to buy at. In the information manual and DVD business the first price point might be $29.95 – a point where sales drop off if you go beyond it. However, once you pass that point there might be no significant difference in sales conversion rates between $39.95 and $79.95. That means that if you can’t price it at $29.95 you might as well price it at $79.95! There are other variables of course, such as the exact contents of the package, but many times it works like that.

Every product or service has its own range of price points. You have to take some time to find out yours.

What about ‘full pound’ prices – $30 versus $29.95 or even $29.99. This is one of those great marketing talking points. Often I find that a price ending in .95 works better than .99, .89 works better than .95 and odd pound figures almost always outsell even pound amounts.

If you sell on installment terms or finance you might not headline on the total price at all. I have seen lots of courses sold on offers such as ‘3 Monthly Payments Of Only $27.89?. In these cases, it’s important to get the installment price right rather than the total price. (Which in this case is a totally bizarre $83.67, but you might well find that it works very, very well.)

I will, however, make this very important point: The skimpier the sales job you do the lower you cap your price. And if you’re very limited in terms of time and space then the price gets a lot more important.

Try this great technique for seducing your customers! If you think your price seems a bit high and you want to make it look fantastic value then consider using price comparisons, like this ….

In top brand designer stores you’ll probably pay $180 to $200.

In popular discount stores you may pay as little as $49 to $69.

But our direct valued-customer price is just $27.97.

OK, so let’s try and summarise the secret of great JV pricing in just four simple points:

* The economics of your individual business decides your lowest possible price.

* Knowing your product and your customers will tell you how little they would like to pay – and also how much they will pay.

* Know your individual price points. Testing will help. If you can’t stay within one price point you might as well push your price up to the next one.

* How you present price can make a difference.

This article courtesy of SiteProNews.com

© 2010, 1SocialMediaManager.com. All rights reserved. The format and presentations here are creations by this Website owner: ©1984 - Leanne C Boyd. All people and products reviewed here own their respective copyrights.

© 2012 1SocialMediaManager.com. All Rights Reserved.

Technorati Tags: cost, Internet, marketing, perfect selling price, Price, price resistance, pricing, product, profit margin, sales conversion rates