October 22, 2009

The Invention of 99 Cents... Negotiating like a Pro When
Making a Purchase... An Office Within a Home... A Solid
Promotional Relationship in Info Marketing... and More.

Did you know that someone invented "99 cents?"

That's right; when you see prices ending in ".99," it isn't the result of world markets and supply and demand.

No, .99 is a marketing invention. There are many reasons why 99 cents is tagged on to the end of prices. Some feel it makes the price appear to be lower (since you look at the number before the decimal point first) and some feel it is to make adding on the taxes a little bit harder.

Whatever the reason is, it doesn't quite matter, because it works. If it didn't work, well, your local grocery flyer would look a whole lot different.

Here's what I'm getting at though, the 99 cents trick has been around for a very long time, more than a hundred years. It's old news; it still works, but it is certainly nothing new.

That's what makes this invention so powerful. You don't even realize it is an invention. It is a part of daily life, so ingrained that not many people stop and think, "Hey, why is my toothpaste selling for $1.99 and not just $2?"

When you're looking at creating something new, whether it is a marketing promotion or a new product, this is what you want. You want people to look at your invention and not think, "Hey, this is new," but to actually think, "Of course, this is what I need."

So many of us love to discover new and exciting things. However, many of our discoveries from the past year have already been forgotten. It is the discoveries (or inventions, if you're the one creating them) that you want people never to forget and never to even realize they've discovered. Sounds a little tricky, right? That's because it is difficult to create these sorts of lasting inventions.

It's not every year that a new 99 cents comes along, but when one does, well, the world is changed forever.

If you want to create wealth for yourself, then you have to keep a few things in mind. You want to make money, and you also have to save money. Anytime you can save a dollar or two, take advantage of the situation. Those dollars add up over time, and the more you keep in your wallet, the better.

When you're in the market to make a purchase, you have to think about ways to save your money, and that means negotiating. You want to get the best price on an item that you can. You want to settle on a price that you can live with and that makes the purchase a real deal.

When it comes to negotiating a new price on an item, there are seven tips you should keep in mind that could help make every deal a success. When you head into a negotiation with a salesperson, you want to be in control of the situation. You want the salesperson to know that you're not going to be taken advantage of and that you are prepared to negotiate.

Here are my seven rules for negotiating effectively:

Rule #1: Never fall in love with what you're buying; only fall in love with the deal. Look, if you fall in love with that car you want, then you'll be blind to the all the numbers the dealers throw at you. Don't let your desires get the best of you. Keep a cool head and you'll get what you want for the price that you want.

Rule #2: Forget the posted price. Even though the store price may be posted on an item, this does not mean that it is written in stone. Believe it or not, a lot of salespeople will be willing to negotiate the price of an item. Again, all you have to do is let them know that you would like to negotiate the price. Here's what I would say: "You want HOW much?" Say that and I guarantee they'll get all defensive, which is the reaction you want to see. You would be surprised at how quickly salespeople will make concessions in order to ensure a sale. Keep hamming on that point. To be sure, they will ask what you want to pay. But turn the tables on them. Remember that they want to make the sale more than you want to buy the item. And, at the very least, the salesperson will guide you to another item that is similar and will be lesser in price.

Rule #3: There is a lot more you can negotiate than just the price of an item. Just by letting a salesperson know that you want to negotiate the price of an item, you are immediately letting them know that you want more. Wanting more is totally acceptable, so even if the salesperson can't beat the price of an item for you, I can almost guarantee that he/she will want to compensate you in some other way to ensure your continued business. For example, they may offer you a discount, special customer shopping days, future sales, coupons, or even tips on where to buy the item for less if they cannot give you a better price. Again, speak up and let the other person know that you are very receptive to getting something out of the negotiations.

In my next article, I will share with you my remaining rules for becoming an expert negotiator.

Because of massive layoffs caused by a slow economy, more and more Americans are taking a shot with their own businesses. It's also giving them an opportunity to enjoy the freedom of working from home for the first time.

Of course, just because working from home awards you certain freedoms and saves some of the hassles associated with office life, doesn't mean it can't present you with a number of new issues you may not have considered. These issues can include time management, socialization (or lack thereof), focus, and control.

Anyone can start a business in their house or work from home. It's easy. It's the success part that can make it a little bit more difficult. Over the next two days, I'll give you a list of things you need to do to run a successful home business.

Location: Although this may not seem like a big deal at all, it can make a huge difference in the success of your business. You're going to want to pick an area of the house that you will be able to work effectively in. Whether you're working out of the basement, garage, den, kitchen or a home office, you'll need to think about some things. First off, will there be a lot of distractions in the immediate area? For instance, if you decide to set up shop in a room beside the space where your family tends to congregate throughout the day, it may not be the best idea. The last thing you need is to be trying to get some work done and having to deal with a bunch of people having a discussion right beside you. Pick a place where you can isolate yourself, concentrate easily and be productive.

Equipment: The nice part about a home office is that it won't have to be exceptionally furnished, but there are a few high- quality items that you should acquire. In terms of furniture, anything should do. If you've got an old sofa, desk and chair sitting out in the garage or in the attic, you might as well dust them off. However, depending on the business, you may need to spend some more money on certain equipment. A few items that come to mind that you will likely need to acquire would be a high-speed photocopier/fax machine, Internet access, and a good computer. After all, these will likely be the main tools of your business, so you're going to want to makes sure they are durable, high quality pieces of machinery. You'll also need sufficient storage and filing space for your materials and files.

** A Solid Promotional Relationship in Info Marketing
By James Burt, Online Marketing Expert

Question: do you like swag?

Swag -- that free stuff a company gives you for prize or promotional purposes -- is something that I admit gets me really excited when I get the chance to acquire some. When I wrote for my college paper, our office would get free tickets and shirts for a new band or movie, or an event on an irregular, but very frequent basis. Later on, my friend and I would often track down a patio in the summer where a promotional event was going on and experience the pleasures of t-shirts, Frisbees, and beer samples.

About six months ago, I went over to another buddy's house. He was an avid beer and scotch enthusiast and had become an info marketer a few months before, writing on breweries, both local and abroad, and covering everything from brewing techniques to new product announcements. When I stepped into his apartment foyer that day, I saw stacks of beer cases, t- shirts, and footballs lying around. He handed me a can and smiled.

"Isn't this cool?"

I was a bit perplexed and asked what had happened. He mentioned that he had been contacted by this particular beer company after writing some content for a blog in which he had rated them highly. Very appreciative, they sent him some free samples and lots of swag for him to write about.

"I got so much stuff here, man; I'm going to be working for a while."

Very happy for him, I nodded in agreement and toasted the beer with him.

Getting involved in company promotions and swag is a great asset to info marketers. First of all, it's loads of fun. What can be cooler than getting free stuff? You can get samples, clothes, and other free items, sometimes fresh off the presses or in their prototype form. Things that the average consumer would not normally be exposed to. You get to sample, examine, and keep it all.

The second reason for getting involved in promos is how it can help your business. Your clients will love getting new information. As new as possible, in fact. Clients will want to know what is coming their way in their area of interest. As such, they will be happy to dig down into their pocket for that information. Even if it's an announcement or something that might not wind up being a long-term venture, your clients will want to know the inside scoop ASAP. This can only keep the engine of your business going stronger and stronger.

Finally, getting involved in a promo builds a great professional relationship. When a company sets its sights on someone or some agency to examine this sort of thing, they are giving out a product so that they can both see the public's reaction and get some homegrown promotion as well. It's a pretty good privilege to have and not every company does it, nor do they give it out to just anyone. If you get the offer to act as a promotional public liaison with a big company, take it as a professional compliment to your work and strive to provide the best information on the product as you can. Be honest but fair. You might not get paid at first, but you will save on expenses for your business, as you don't have to pay for the product being sent your way. Again, be a pro about it. The company will appreciate it and you can never predict what future avenues can open up. My friend that I mentioned ! above continues to get free samples to this day and also contributes a regular newsletter to the brewery's web site. As he put it before, "How cool is that?"

Indeed.

Promotional relationships in information marketing are not really something that you can go looking for. They are offers and will only last if you rise to the occasion. But once you establish your business and deliver the great information your clients rely on, the sky's the limit as to what offers related businesses can offer you down the road. And when they come, they are sweet deals for sure.