Please share this Christmas gift with your e-mail list. Happy Holidays!
Please share this Christmas gift with your e-mail list. Happy
Holidays!
On the second day of Christmas, Mesmerizzzed! gives to you - two engineered
products and a focused target market.
What is an “engineered” product - and why would you need two of them?
Engineering is defined as the careful analysis, design and construction of works
for practical purposes. The unique task of an engineer is to identify,
understand and interpret the constraints on a design in order to produce a
successful result. By understanding the constraints, engineers derive
specifications for production.
Creating a product or service for your focused target market involves careful
analysis, design and ultimately, construction. You must understand the wants,
needs and desires of your market (the constraints). You must then define the
specifications to meet the needs of that market.
Okay, that’s confusing. What does that have to do with marketing? Let’s look at
your first engineered product, your core product or service, your primary pitch
to prospects.
It’s all in the communication. Far too often, we fall in love with our products
and services. We meet with a prospect and gush about all of the things it can
do, how it works, why your product is the best. The prospect asks you for the
time, and you tell them how to build a watch.
What should you really be doing? Get crystal clear on the benefits - not the
features - of your product or service. What’s the difference?
· Features - the facts, data and information about your products and services.
Features are wonderful little things, but generally do nothing to persuade
anyone to buy your widget.
· Benefits - a benefit shows how your product or service meets an explicit need
of the customers in your target market. Benefits play on radio station WIIFM -
what’s in it for me - the potential buyer.
Engineering a product or service demands you do the deep thinking to discover
the benefits. You don’t spout off your laundry list of features and take another
toke of “hopium” - hoping that they’ll fall for your shallow pitch and buy
because of your pleasing personality. You do the work to define in advance
(engineer) the benefits - then help them buy by educating your prospects on what
your product or service will do for them.
Okay, there’s some of the important work you need to do on your first engineered
product. If you offer more than one product or service, or serve more than one
focused target market, you’ll need to engineer that product or service too!
What’s the second engineered product?
The second engineered product is the service for your product or service. You’ve
made the sale - they’ve purchased your widget. Now, how do you create a customer
for life - one who buys more, more often and refers you to everyone they know?
Now you have to engineer how your product or service is packaged, sold,
distributed, delivered, promoted, installed, repaired, supported, trained and
much, much more. In other words, how will you “engineer” your customer
relationship?
You probably haven’t thought about engineering your second product. How do we
know that? Here are some facts assembled by the American Society for Quality
Control (ASQC) showing reasons companies lose customers:
Die 1%
Move 3%
Influenced by friends 5%
Lured away from the competition 9%
Dissatisfied with core product 14%
Apathy of company 68%
At least 82% of your customer retention issues are in your control - because you
can eliminate apathy and eliminate core product dissatisfaction. How would that
affect your bottom line over the lifetime of your customers?
Isn’t it time you engineered your two products and services?
About Mesmerizzzed! Marketing
Based in Las Vegas, Mesmerizzzed! Marketing focuses on small businesses with
dramatic growth potential. The Mesmerizzzed! methodology starts with directing a
laser beam focus to our client’s target market, then engineering the product,
pricing and sales process for optimum growth in profitability. Only then do we
develop and deploy any of the hundreds of weapons in our promotional arsenal.
Learn more at www.mesmerizzzed.com
or call us toll free at 1.866.313.8081 for a FREE, no obligation consultation.
Watch for our launch of the “Mysteries of Marketing” Program - coming in the
first quarter, 2007.
Please share this Christmas gift with your e-mail list. Happy Holidays!
Bill Merrow
702.523.5044
bill@mesmerizzzed.com
Mesmerizzzed! Inc.
4132 South Rainbow Boulevard Suite 452
Las Vegas, Nevada 89103
www.mesmerizzzed.com
Toll Free: 866.313.8081
Fax: 702.247.8749
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