The marketing process

[FONT=arial, Arial, Helvetica]Traditional marketing strategies encourage business owners to continually grow their businesses by adding new customers. In today's competitive world of business, it is more important than ever to aim for more transactions with existing customers by using the power of customer follow-up and attention to good service. These ten tips will help you in turning your existing customers into walking billboards for your business. [/FONT]
[FONT=arial, Arial, Helvetica]1. Spend thirty minutes each day talking with two existing clients. Ask them what they want, what they need, and what they like/don't like. Implement the ideas that work for you. [/FONT]
[FONT=arial, Arial, Helvetica]2. Invite your champion clients to serve on your Board of Directors. Your clients will add wisdom and will know that you value their judgment. [/FONT]
[FONT=arial, Arial, Helvetica]3. Post newspaper/magazine articles about your clients' achievements in your establishment. People love to be acknowledged for their wins. A classic picture frame will add an elegant touch. [/FONT]
[FONT=arial, Arial, Helvetica]4. Invite clients/customers to test a new product or service before you offer it to the public. Your customers will have insight about what the public wants. This will save you energy and will send the message to your client that they are the first to experience something new. [/FONT]
[FONT=arial, Arial, Helvetica]5. Partner with your clients in a marketing effort, workshop, or special event. The more opportunities you have to spend with your clients, the more you will connect on a personal basis. [/FONT]
[FONT=arial, Arial, Helvetica]6. Provide value every day. Freebies and discounts are a great way to keep clients and make new ones. A free car wash, hair cut, facial, or gift certificate are always popular. Offer something unique to show your customers that you are creative and open to new ideas. [/FONT]
[FONT=arial, Arial, Helvetica]7. Follow the successes of companies that have a reputation for outstanding customer service. By learning from the pros, your business will grow and improve. [/FONT]
[FONT=arial, Arial, Helvetica]8. Connect with your clients on common ground. Find out what you share in common with your clients. They will remember you and develop a sense of friendship. [/FONT]
[FONT=arial, Arial, Helvetica]9. Spend time with your competition, and know what they are doing. In this competitive world, it is difficult to stay ahead. Design a suggestion box for customers to let you know about better prices and better service. [/FONT]
[FONT=arial, Arial, Helvetica]10. Remember! Your customers are always right even if they're wrong. Thank your customers for both positive and negative comments. Do all in your power to make them happy. [/FONT]
 
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Every customer looks for 3 special benefits when they do business with you. They may not specifically ask for these benefits. But you're losing sales if you don't automatically provide all 3.
Fast Results
Prospective customers may take a long time deciding whether or not they will buy from you. But once they decide to buy, they expect instant results. When people buy a car they want to drive it home today. When they sign up with a health club they expect to look and feel better by the end of the week.
Look for ways you can reduce the time your customers have to wait after a transaction before they can start enjoying the results of their decision to buy. Try to deliver your product at the point of sale. When that's not possible, look for creative ways to provide a benefit your customer can start enjoying immediately.
For example, a publisher I know recently created a special package combination of his latest "how-to" book in print and several eBooks on the same subject. When customers order his new book, they can immediately download the eBooks on their computer. They don't have to wait for the hard-cover book to arrive before they can start enjoying the benefit they paid for.
Easy Procedures
Customers want products that are easy to use and services that produce results without disturbing their daily routine. You can increase your sales by stressing the "easy to use" characteristics of your product or service in all your promotions. Convenience and ease of use are often more important to customers than price.
Simplify your buying procedure too. Make it easier for customers to buy from you and you will get more sales.
For example, many online shoppers are impatient and won't tolerate a lengthy ordering process. Minimize the number of times your customer has to click to another screen when ordering online. Use a simple order form instead of a shopping cart if you only offer 1 or 2 items. And don't ask them to give you more information than you need to process their order.
Personal Attention
Every prospect and customer wants personal attention. One way you can provide it is by giving them an opportunity to ask questions.
Only interested prospects will take the time to ask questions. Many will buy from you if they get valuable information from your answer. You can often include a promotion for your product or service as part of your answer.
Answering questions is not time consuming. The same questions will be repeated over and over again. But you only have to answer each question once if you save your answer to a permanent file. Copy it into your reply whenever you get that same question again ...and revise it slightly to personalize your response. You can answer questions quickly and your prospects will appreciate your personal attention.
TIP: If you find yourself personally answering a lot of questions, add a Questions and Answers page to your web site. Post the answers to your most frequently asked questions. It will reduce the number of questions you have to answer individually. But remember, it also deprives you of an opportunity to impress prospects with your personal attention.
Every customer wants fast results, easy procedures and personal attention. Most won't ask for these benefits. But they won't buy from you unless they get them. Make sure you provide all 3 of these special benefits ...and look for ways to improve the quality of each. Then watch how quickly your sales increase.
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[FONT=arial, Arial, Helvetica]Marketing is about results. Key to achieving results is your ability to be adaptive and forward-thinking -- involved in a process that lets you evolve your marketing campaign as new information enters the picture.[/FONT]
[FONT=arial, Arial, Helvetica] People who achieve great results from their promotional efforts understand the marketing process. You'll often notice they have high levels of energy and a ceaseless flow of great ideas. Indeed, it would appear they have the ability to create "marketing magic." [/FONT]
[FONT=arial, Arial, Helvetica] If you want to tap into this magic, you must immerse yourself in the marketing process. When you are enthusiastically involved in reaching your marketing goal, you are better able to draw upon resources and techniques which will produce high-powered results. [/FONT]
[FONT=arial, Arial, Helvetica] Here are seven dynamic ways to create your own marketing magic: [/FONT]
[FONT=arial, Arial, Helvetica] 1. Keep Your Business In Your Back Pocket[/FONT]
[FONT=arial, Arial, Helvetica] Nearly every act you perform, every word you utter, holds the opportunity to promote your business. It can be subtle and nearly invisible, or overt and commanding, but it never stops and it happens every day. [/FONT]
[FONT=arial, Arial, Helvetica] Every thought you have, every action you perform, has a reaction at some other time and in some other place. The degree to which you consciously think about promoting your business determines your ability to spot opportunities whenever they come and wherever they are. [/FONT]
[FONT=arial, Arial, Helvetica] Keep your business in your "back pocket" at all times. Promote everyday and in all circumstances. [/FONT]
[FONT=arial, Arial, Helvetica] 2. Test to Achieve Your Desired Results [/FONT]
[FONT=arial, Arial, Helvetica] You must be able to measure the results of your marketing efforts. Unless you have a way of identifying results you can never fully utilize the power of a dollar. Measuring results allows you to make comparisons among advertising models and make adjustments as needed. [/FONT]
[FONT=arial, Arial, Helvetica] 3. Focus on Investment Returns [/FONT]
[FONT=arial, Arial, Helvetica] You must focus on getting the most for your advertising dollar. The real cost of advertising is measured by the return on your investment, not the cost of obtaining the ad. Be willing to spend more up front to make more at the other end. [/FONT]
[FONT=arial, Arial, Helvetica] In less obvious ways, this principle is just as valid when dealing with people or events that seem to have no immediate bearing on your business. These are investments of your time. Use discretion since time is a precious and limited commodity. Yet, never forget that businesses are often born and millions are made when time was the only initial investment. [/FONT]
[FONT=arial, Arial, Helvetica] 4. Be An Insider [/FONT]
[FONT=arial, Arial, Helvetica] You need to be active within your industry. Stay in touch with current trends, follow the activities of your competitors, and talk with like-minded people. Be on the cutting edge by constantly expanding your network of contacts. You'll discover you can then tap into your market more easily and target your promotional efforts with greater success. [/FONT]
[FONT=arial, Arial, Helvetica] 5. Know Your Customers [/FONT]
[FONT=arial, Arial, Helvetica] Understand who your customers are, where they congregate, what they need, why they need it... in short, get inside their skin. When you know your customers you can hit their "what's in it for me?" buttons. Offer them more than they need - both before and after the sale - and your efforts will pay off. [/FONT]
[FONT=arial, Arial, Helvetica] 6. Give People Benefits [/FONT]
[FONT=arial, Arial, Helvetica] Realize that when people become interested in something they have a voracious appetite for information. If they've made an impulse decision to buy, they want information to justify that decision. If they haven't decided to buy, they need information before pulling out their credit card. Either way, you must come through to secure the sale. [/FONT]
[FONT=arial, Arial, Helvetica] Seek to inform people rather than sell to them. Inform them in ways that show what they will gain. Give them enough to feel empowered as an informed buyer. [/FONT]
[FONT=arial, Arial, Helvetica] 7. Use the Power of Words [/FONT]
[FONT=arial, Arial, Helvetica] Words are magic when their power is understood. In the hands of a skilled marketer words are crafted to create a sense of need and urgency in people. [/FONT]
[FONT=arial, Arial, Helvetica] Words arouse emotions. Used right they can conjure up vivid and seductive mental imagery. Words can inspire the trust of a spy or satisfy the logic of a mathematician. Words can motivate people to act on unfulfilled needs and desires. Use words to induce emotional responses in people and you will achieve your marketing objectives. [/FONT]
[FONT=arial, Arial, Helvetica] Rudyard Kipling called words a powerful drug. Use language to your advantage and seize the power of this drug. [/FONT]
[FONT=arial, Arial, Helvetica] These seven strategies are very powerful for the dynamic marketer. Set your sights on a desired outcome, throw in a little enthusiasm, and you've got a formula that's nothing less than magic.[/FONT]
 
:biggthump Nice tutorial for beginners. I think this should be made sticky. It is much better than what i came across of e books from some crap guru's :smashfrea about internet marketing in the beginning of my IMcareer.
 
[FONT=arial, Arial, Helvetica] Two businesses -- a women's clothing boutique and a mail- order operation -- recently consulted me about the same dilemma. Each had achieved satisfying sales through channels that didn't allow for further growth. They needed a fresh marketing program that would yield a steady stream of new customers, and they were confused about where and how to advertise.[/FONT]
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Like Dorothy with the ruby slippers in the Wizard of Oz, they already had most of what they needed for a solution, but they didn't know how to use what they had. They needed to investigate who their buyers -- especially their highest- spending and most frequent patrons -- were. In doing so, they'd learn how to clone their best customers.
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The general principle: Discover the characteristics of your current customers and use that knowledge to reach more shoppers just like them.
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The clothing store already knew the age range, income level and some cultural interests and hobbies of its clientele. I suggested that they find out which newspapers, magazines and TV and radio programs their buyers read, watch or listen to, as these might prove prime advertising vehicles. Once ads are running in many places, you can also ask customers which media outlet persuaded them to come into the store, although many buyers don't remember this information.
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The mail-order operation had little knowledge of the income or the educational level of its purchasers, since orders so far had come in through the anonymity of the Internet. However, it was relatively simple for them to send a follow- up questionnaire by e-mail, which asked a buyer's age, educational background, employment status (employed or self- employed), income bracket and profession. The brief questionnaire also asked how satisfied they were with their purchase, generating glowing testimonials along with a few complaints. Questionnaire answers would help this business intelligently choose where to advertise.
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To the clothing store, I suggested marketing strategies besides advertising for cloning its best customers. Since many store regulars were involved with charitable organizations, the store could let buyers know, through a postcard to its mailing list or a flyer slipped in with purchases, that it might produce a fashion show to benefit their favorite charity. Most likely, customers' dearest non- profit organization appealed to others who would also be attracted to the boutique's distinctive style of clothing.
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Since many patrons had creative hobbies, like painting, music, weaving or writing, it made sense to appeal to others who spent spare time on the arts. I suggested selecting a different customer's creative work to feature in the store every month. I envisioned a display of one woman's pottery or poetry, with a color photo of her wearing the store's clothing. Surely the woman in the spotlight would bring in friends like herself and patrons would urge their creative women friends to apply for the honor.
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Scientists say human cloning isn't quite on the horizon, but in marketing cloning techniques like these already produce new customers!
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[FONT=arial, Arial, Helvetica]Fact: There are far more people wishing to make substantial incomes from home over the Internet than there are actually doing it.[/FONT]​
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[FONT=arial, Arial, Helvetica]That's an obvious statement to be sure, but why is that true?[/FONT]​
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[FONT=arial, Arial, Helvetica]One factor often overlooked in my opinion is that many people make poor selections when choosing what they should sell.[/FONT]​
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[FONT=arial, Arial, Helvetica]People, more often than not, decide what business to enter based on emotion, excitement, or other's success. Rarely, do people take the time to critically analyze what they will be getting into and whether or not it will be suitable for them.[/FONT]​
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[FONT=arial, Arial, Helvetica]Now, even if you're already comfortable in what you are doing, thinking through the following set of questions will be beneficial to you. Reading through them will undoubtedly either enlighten you on how to further advance what you're already involved in, or it will give you the necessary push to change to something that might work better for you.[/FONT]​
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[FONT=arial, Arial, Helvetica]Obviously, then, if you are already looking for an online business opportunity, or looking to change directions, this is for you.[/FONT]​
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[FONT=arial, Arial, Helvetica]For the sake of this discussion, we'll talk strictly in products. However, realize that marketing a business opportunity or a service is essentially still marketing a product.[/FONT]​
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[FONT=arial, Arial, Helvetica]Carefully considering all of the following aspects will put you further ahead than the vast majority of Internet marketers, give you more flexibility in your marketing plan, and realistically bring you more success.[/FONT]

[FONT=arial, Arial, Helvetica]Your Own Beliefs[/FONT]​
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[FONT=arial, Arial, Helvetica]When selecting a product or group of products to market, start first with your own beliefs. In network marketing it's absolutely critical to believe, like, and use whatever product your business offers. Without that belief you'll never have any credibility with others or convince your downline to make purchases themselves.[/FONT]​
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[FONT=arial, Arial, Helvetica]Now, with regards to working auction services this is not nearly as important. Often, you can work essentially as a middle man connecting buyers and sellers. In this case, the seller is the one whose credibility the buyer feeds off of and it's the seller also who is responsible for any guarantees, refunds, and such.[/FONT]​
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[FONT=arial, Arial, Helvetica]'Instant' sale mini sites are those specifically designed to solicit 1 of 2 immediate responses out of it's visitors -- buy or leave. With this type of site, it's not necessary for the visitor to even know who they are buying from so your personal beliefs are not as critical. (obviously if you are more personally involved in the product and the site then your personal beliefs are important. We could argue about which way works better, but the point is if you do put your name to something you'd darn well better be a believer in it yourself otherwise you have no credibility.)[/FONT]​
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[FONT=arial, Arial, Helvetica]Personally, I would never market something without first believing it to be a good product. Often growing a business can be difficult enough without doubting whether what you are offering is really worth what you're asking for it or not.[/FONT]​
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[FONT=arial, Arial, Helvetica]Consider Your Target Market[/FONT]​
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[FONT=arial, Arial, Helvetica]I believe many would-be entrepreneurs fail because they never NARROWLY consider who their target market is.[/FONT]​
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[FONT=arial, Arial, Helvetica]Someone marketing a 'work from home' program to 'whoever wants to work from home' is missing their mark. There's a big difference between someone working from home to market their own creations and someone looking to work from home re-selling others' works.[/FONT]​
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[FONT=arial, Arial, Helvetica]Answer the following questions when considering what products you want to sell.[/FONT]​

[FONT=arial, Arial, Helvetica]Who exactly will be interested in this product?[/FONT]​

[FONT=arial, Arial, Helvetica]Is this group large enough to support my business?[/FONT]​

[FONT=arial, Arial, Helvetica]Is this a group I can reach?[/FONT]​

[FONT=arial, Arial, Helvetica]Can I market through others already in contact with them?[/FONT]​

[FONT=arial, Arial, Helvetica]How much competition will I have?[/FONT]​

[FONT=arial, Arial, Helvetica]How well established is my competition?[/FONT]​
[FONT=arial, Arial, Helvetica]Consider Available Marketing Tactics[/FONT]​
[FONT=arial, Arial, Helvetica]I remember getting excited about a particular product, believing in it, wanting to share it with others, only to run into a brick wall as to how to go about doing it.[/FONT]​
[FONT=arial, Arial, Helvetica]It happens, and it's very discouraging when it does.[/FONT]​
[FONT=arial, Arial, Helvetica]Before you commit to selling a product, you've got to take a good hard look at how you will go about doing it. Consider the following:[/FONT]​

[FONT=arial, Arial, Helvetica]Do I already have contacts that will be interested in this?[/FONT]​

[FONT=arial, Arial, Helvetica]Can I establish a routine that will bring my product before new people consistently enough to make a profit?[/FONT]​

[FONT=arial, Arial, Helvetica]What methods will work to market this product?[/FONT]​
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[FONT=arial, Arial, Helvetica]Then consider the specifics of each marketing method. For instance with search engines, how popular are keywords that will lead to your product? How much competition do those key words have?[/FONT]​
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[FONT=arial, Arial, Helvetica]As another example, is there enough information surrounding your product to allow you to market it by publishing a weekly ezine?[/FONT]​
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[FONT=arial, Arial, Helvetica]Identify Necessary Marketing Elements[/FONT]​
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[FONT=arial, Arial, Helvetica]Not everyone has what it takes to market each and every product available online.[/FONT]​
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[FONT=arial, Arial, Helvetica]Consider your product. Is it a single purchase item or one that the same customer will buy over and over? Is it a low price item or on the high end? Are you selling just one product or an entire group of them?[/FONT]​
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[FONT=arial, Arial, Helvetica]Some products can be sold 'instantly' while others require more follow up. Do you have the tools for following up with potential customers? Do you have what it takes to lead someone from a single purchase to becoming a repeat customer or to considering other products? What will all this entail?[/FONT]​
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[FONT=arial, Arial, Helvetica]You've got to be honest in whether or not the tactics that you decide will be effective for marketing a product are ones you are comfortable -- and knowledgeable enough -- in doing.[/FONT]​
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[FONT=arial, Arial, Helvetica]Identify Your Financial Input And Budget[/FONT]​
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[FONT=arial, Arial, Helvetica]Here's one that's stopped a lot of us from succeeding. Any business is going to take some investment. Consider what you'll have to put into your business BEFORE you start.[/FONT]​
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[FONT=arial, Arial, Helvetica]I'm not only talking about what it costs to get involved, but what it will cost you to get product for yourself, and what it will take as far as advertising.[/FONT]​
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[FONT=arial, Arial, Helvetica]This, of course, all depends on how you answered the questions above. However, don't overlook this step. NEVER assume that you'll have immediate sales that will cover your future expenses, either -- ESPECIALLY if you are borrowing money to get started.[/FONT]​
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[FONT=arial, Arial, Helvetica]You've got to plan for the unexpected and have what it takes to keep your business going until it can support itself.[/FONT]​
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[FONT=arial, Arial, Helvetica]Conclusion[/FONT]​
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[FONT=arial, Arial, Helvetica]If there's any one thing that's attractive about Internet marketing it's the excitement it can breed. The idea of contacting so many people so easily and the thought of getting a lot of sales in a short period of time is thrilling.[/FONT]​
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[FONT=arial, Arial, Helvetica]However, this excitement is also dangerous. We all need to realize that while those things can happen, they do take time and effort to bring about.[/FONT]​
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[FONT=arial, Arial, Helvetica]Don't fall for the excitement without taking a good hard look at what will really be involved in working with the product of your choice. Take the time needed to examine the market you'll be jumping into and make sure it's one with good potential and room for expansion -- AND THAT IT WILL BE SUITABLE FOR YOU.[/FONT]​
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[FONT=arial, Arial, Helvetica]With effort, you can achieve success online. Just don't hinder yourself by trying to work with a product that's not realistic for your situation -- just because other's were successful with it.[/FONT]​
[FONT=arial, Arial, Helvetica]Sure, learn from the success of others. Duplicate their system IF it will work for you, but NOT just because it worked for them.[/FONT]​
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[FONT=arial, Arial, Helvetica]Make your own choices, make your own way, and you WILL make your own success.[/FONT]​
 
[FONT=arial, Arial, Helvetica]You may have heard the term "Marketing Mix" used in connection with marketing planning. It means the combination of promotions, products, places (distribution channels), and prices you chose for your business. Including both short term and long term strategies makes for a more profitable marketing mix.

Long term strategies build brand/company awareness and give sales revenue a permanent, gradual boost. Short term strategies create a temporary, immediate revenue boost by giving buyers an incentive to purchase.

By implementing both long and short term strategies, you can attend to immediate sales goals while building your business reputation and goodwill. Some examples of both types of strategies are below.

Long Term Marketing Strategies

Branding. General advertisements and other high profile activities contribute to your company's image. These points of contact with your target customer help mold your image, which in turn can create loyalty from your customers.

Philanthropy. Donating money, services, and/or time can build trust and a positive image for your business. Philanthropy contributes both toward your branding efforts and your company's internal well being.

New Product Pipeline. New products in development represent your future sales. If you get feedback from your customers or potential target market then design new products (or change existing ones) to meet their needs, you are ensuring a demand for your products in the future.

Short Term Marketing Strategies

Reduced Price Sales. Limited time sales encourage customers to act. You likely have customers intending to buy but have not "gotten around to it". Holding a sale will give them incentive to purchase.

Group Discounts and Offers. Discounts or other offers to a specific group can help exposure your business to new customers, resulting in a sales surge.

Pay-Per-Click Search Engines. Pay per click search engines are another way to become visible to new customers. Use them carefully, however. Do not bid more per click than the profit you expect to make from that click.

Search Engines

High search engine placement can produce both short term and long term results. Short term, you can gain immediate sales. Long term, results come as potential business partners find your site.

Do not, however, become obsessed with search engine optimization to the detriment of your other marketing strategies. Search engine marketing should be one part of a more comprehensive plan. Include other marketing strategies in your plan to reach additional customers.

I do not put a lot of time into search engine optimization - two or three hours a month at the most. Instead, I focus on quality content, which in turn creates strong rankings for my site. This approach has gotten me results with Google - close to 1,000 visitors a week through their free search engine.
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[FONT=arial, Arial, Helvetica]Never, I swear to you, never did I think, antipathetic as I am to all things reeking of MLM, that I'd ever share this with you. And yet success principles simply are. Here are the marketing strategies that took Amway (to think I'd even mention that word!) to international market penetration. What works, works. Strategies and models that let a kitchen table vision rise to world-wide success are worthy of our study. Here are the 7 actions that worked for (ugh) Amway. And they can work for you. [/FONT]

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[FONT=arial, Arial, Helvetica]1. Sell the dream. When you target decision-makers who can hire you, paint a glowing word picture of the array of benefits awaiting the organization, the decision-maker, and the audience. Lay it on with a trowel. Make the most of all the truth you've got. Speak of the joy and gratification, the recognition and professional growth awaiting the decision-maker as an outcome of choosing you to speak or train. Place the decision-maker in the picture. "Imagine how you'll feel when..." "Visualize your next Performance Evaluation after you recognize me as the ideal person to add value to your conference now..." [/FONT]

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[FONT=arial, Arial, Helvetica]If the fates allow you to be in direct touch with the CEO or EVP, focus on how your intervention will yield outcomes that delight the shareholders, the Board Chair. Delineate how your actions produce more productivity, more profits, greater market penetration, higher market share, better positioning for a brand, etc. [/FONT]

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[FONT=arial, Arial, Helvetica]When you stand before your audience, do this: Share a vivid view, an exciting promise of the spectrum of results they create for themselves personally when they abide by your recommendations. [/FONT]

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[FONT=arial, Arial, Helvetica]2. Offer residual benefits, long-term benefits, if possible. Does the reputation they establish through using your ideas live on for many years or decades? Tell them so! Is a passive income stream generated, maybe a bigger retirement cash-flow? Tell them. Think this through. Tell each level the ongoing benefits of the benefits. [/FONT]

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[FONT=arial, Arial, Helvetica]3. Offer a System and tools. People love systems. This is why franchises do so well. There's a system in place. There's a road map, a blueprint. There's a proven way to create desired outcomes. There's peace of mind. There's safety. [/FONT]

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[FONT=arial, Arial, Helvetica]4. Pre-handle problems. Tell them what to expect. Provide remedies in advance. Empower them to use those remedies. Most of all be clear that they are accountable for their actions and for what those actions yield. [/FONT]

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[FONT=arial, Arial, Helvetica]5. Build win-win relationships. Tell them how much you care. Prove it. Live your caring. Model what caring is. Provide access to you or to your surrogates. When problems arise, celebrate the opportunity. Translate the problems into challenges. View them as opportunities to serve. [/FONT]

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[FONT=arial, Arial, Helvetica]6. Work your butt off. Is that too colloquial for you? Dedicate your time and energy to the delivery of value. Then more value. Then more yet. Apply yourself diligently and relentless to your tasks. Do more than is expected, more than is required, more than anyone in their right mind would do. [/FONT]

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[FONT=arial, Arial, Helvetica]7. Surrender to your purpose. This one is from me. Surrender is the price you pay for the success you want. It always works. Give yourself wholly to the outcomes you desire. Ultimately all obstacles level off. They transmute into pathways to the attainment of your desires. [/FONT]

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[FONT=arial, Arial, Helvetica]Here's a little secret. Surrender involves love. Love your work. When you love something enough it reveals all its secrets to you. Test this thesis. Test it on some current project. Test it on a speech, a seminar, a workshop. Pretend your client is paying you 10 times as much to present this program. Then act to deliver 10 times the value. And watch what happens. [/FONT]
 
[FONT=arial, Arial, Helvetica] There are four key components of the entire marketing process. They are known as the 4 P's of marketing. [/FONT]
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They are:
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1. Product
2. Production
3. Pricing
4. Promotion
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I will touch on the importance of assigning the right price to your product or service. This is one of the most overlooked aspects of marketing.
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Choosing the right price for your product or service is very important to help maximize your profit potential. Not only that, but your price can also help people make a judgment about the quality of your product or service
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For example, a company such as Rolex sells their watches for thousands of dollars. Often this high price is associated with the prestige of the watch. If they started selling the Rolex watches for only $99, this would dramatically affect the perception people would have of these watches.
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On the other hand, if you price your product or service too low, it can give the perception to a customer that your product is cheap and of low quality. This can results in reduced sales.
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Most companies use the bottom-up approach to pricing their product or service. This means that they take all the costs associated with the making of the product and then traditionally mark-up the price a certain percent which is the company's profit.
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Other factors in determining a price is competition, type of market and overhead costs. some companies deliberately set their prices high to reap large profits. This reduces their sales, but give them less customers to work with.
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Other companies deliberately set their prices low (even at a loss sometimes) in order to penetrate the market. They then offer back-end sales to their established customer base.
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There are a couple of methods that you can use to determine the best price for your product or service.
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The first method to determine your optimal price is by sending out a survey to your present customers. For example, you may be releasing a new ebook and may not have a clue on what to price it at.
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But since you have 100 customers who have purchased a previous ebook from your company, you can solicit their opinion on what they think your second ebook should be priced at.
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Send them to the sales page for your second ebook and instead of including a price, link to a survey that asks a variety of questions that will help determine the cost of your ebook.
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The second method to price your product or service is by testing. You can create up to four or five duplicate sales pages with different prices for your product or service on each page. Advertise each page exactly the same way and view the conversion ratio from visitors to sales.
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By looking at which page converts the most visitors, you will be able to determine what the optimal price is that customers will buy your product or service for. However, it is important to make sure that each ad copy is identical to each other for a fair comparison.
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From what I have read, the best book on the topic of proper pricing is Ken Evoy's "Make Your Price Sell." Ken covers all the aspects of properly pricing your product or service in a step-by-step manner. This is the only ebook that I have come across that even covers this topic.
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[FONT=arial, Arial, Helvetica]In an increasingly price-sensitive world many business professionals feel that the only way they're going to win in a competitive RFP situation is if they slash their prices.[/FONT]
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The good news is that in most situations price isn't the burning issue. It's value-for-money or Return-On-Investment (ROI) - in other words, how much "bang they're going to get for their buck".
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Now, this is hardly revolutionary news, but by reading through most of the proposals that sit on my desk you'd think it was.
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8 in 10 proposals I see don't do anything at all to sell the value for money that's on offer. All they do is list what I'll get (the features) and then include a price buried way back towards the end of the document.
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Instead -- if they wrote their message in value-for-money terms instead of a "this is how much it will cost you" format, they would have a much more positive impact.
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Here are some ways that you can communicate value-for-money:
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*[FONT=arial, Arial, Helvetica]A better quality service, which minimizes errors or re-working, saving them money and time;[/FONT]
*[FONT=arial, Arial, Helvetica]A faster result, which means they'll be operational sooner;[/FONT]
*[FONT=arial, Arial, Helvetica]A better result, which helps them make more money, increase productivity etc.;[/FONT]
*[FONT=arial, Arial, Helvetica]A longer lasting result, which means they can go for a longer period of time before it needs replacing.[/FONT]
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[FONT=arial, Arial, Helvetica][FONT=arial, Arial, Helvetica]In other words, what is the Return on Investment?[/FONT][/FONT]
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For instance, if a $4,000 dankolabe usually provides a 10% increase in productivity for a company and the price for your dankolabes is $6,000 but they offer clients a 45% increase in productivity, the company would be crazy not to go for your product because you're offering them a 300% better result for a 50% higher price.[/FONT][/FONT]
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It's all about selling the benefits of what you have to offer.
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[FONT=arial, Arial, Helvetica][FONT=arial, Arial, Helvetica]Similarly, perhaps you're offering a product which costs 50% more, but it lasts 100% longer. Make sure you mention that fact in the proposal because it helps justify your price.[/FONT][/FONT]
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"Eg. Your investment in 5000 6mm widgets will be $xxxx and based on test results will last you for 5 years instead of the normal 2.5 years of conventional widgets. At the end of the day, that means you're saving money because they're lasting twice as long."[/FONT][/FONT]
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"The reason why our widgets last that much longer is because they're constructed of [articulate the construction process that makes your product stand out]. Not only that, they've received an xx star strength rating from xyz safety council ... something which no other "widget" has ever achieved."[/FONT][/FONT]
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See how the above statement sells the return on investment. It talks price but it also ties in the end benefits they will receive for the price they pay. It takes the focus away from price and onto results achieved.[/FONT][/FONT]
 
[FONT=arial, Arial, Helvetica] Not keeping track of your advertising results is pretty much the same as throwing your hard earned money at a dart board. [/FONT]
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It is basically a "hit or miss" campaign.
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One of the key factors to making your marketing campaign effective is by tracking everything that you do, and I mean everything!
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What key sales components can be tracked?
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Here is a brief list:
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*[FONT=arial, Arial, Helvetica]Where you advertise[/FONT]
*[FONT=arial, Arial, Helvetica]Your sales letter[/FONT]
*[FONT=arial, Arial, Helvetica]The price you charge[/FONT]
*[FONT=arial, Arial, Helvetica]Your order options[/FONT]
*[FONT=arial, Arial, Helvetica]Your web site load up time[/FONT]
*[FONT=arial, Arial, Helvetica]Your advertising venue[/FONT]
*[FONT=arial, Arial, Helvetica]etc...[/FONT]
[FONT=arial, Arial, Helvetica] With these many key sales components, it is no wonder people who do not measure these factors are not making any money on the Internet. [/FONT]
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Many new Internet marketers complain that they do not have time to measure the effectiveness of their advertising campaigns. But my question to you is...
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Can you afford NOT to?
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Tracking your ads not only saves you money in the long run, but it also forces you to create the most optimal advertising campaign.
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For example, how do you know that you have assigned the right price to your product or service. You may be charging your customers only $29 for a product that they would gladly be willing to pay $49 for.
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An easy way to find out what the optimal price for your product or service should be is by creating two identical ads with the only difference being the price. You should also advertise in similar advertising environments (i.e. same topic) as not to skew your results.
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Lets take a look at our imaginary results.
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[FONT=arial, Arial, Helvetica]1st Campaign[/FONT] [FONT=arial, Arial, Helvetica] 2nd Campaign[/FONT] [FONT=arial, Arial, Helvetica] Price: [/FONT] [FONT=arial, Arial, Helvetica] $29 [/FONT] [FONT=arial, Arial, Helvetica] $49[/FONT] [FONT=arial, Arial, Helvetica] Visits: [/FONT] [FONT=arial, Arial, Helvetica] 3,020 [/FONT] [FONT=arial, Arial, Helvetica] 3,050[/FONT] [FONT=arial, Arial, Helvetica] Orders: [/FONT] [FONT=arial, Arial, Helvetica] 33 [/FONT] [FONT=arial, Arial, Helvetica] 24[/FONT] [FONT=arial, Arial, Helvetica] Total Sales: [/FONT] [FONT=arial, Arial, Helvetica] $957.00 [/FONT] [FONT=arial, Arial, Helvetica] $1176.00[/FONT]​
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Both ezines brought in a similar number of targeted visitors and although the first campaign had more orders, the second campaign brought in more total revenue.
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Conclusion: It was better to advertise with $49 price rather than the $29.
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Many companies also test their banner advertising methods by fiddling around with the colors. They change the colors on the exact banner and then run the various versions of the banner on the same web site. They then sit back and track the results to see if color influences the click-thru percent that the banner receives.
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[FONT=arial, Arial, Helvetica] In the above examples, we only changed ONE variable. In the first example it was price and in the second example, it was color. Now, can you imagine what you sales would have been if you could determine what the optimal price, sales letter, colors, order options, web site load up time, advertising venue, etc., should be?! [/FONT]
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Let me show you the entire impact in the following example:
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Lets assume that you sell cowboy boots on your web site. For every 10,000 visitors, you make 300 sales. Now lets say we tweak up each factor the best that we can, the following results should appear.
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[FONT=arial, Arial, Helvetica]Impact On
Sales
[/FONT] [FONT=arial, Arial, Helvetica] Increase In
Sales
[/FONT] [FONT=arial, Arial, Helvetica] Change Factor #1 [/FONT] [FONT=arial, Arial, Helvetica] 5% [/FONT] [FONT=arial, Arial, Helvetica] 15[/FONT] [FONT=arial, Arial, Helvetica] Change Factor #2 [/FONT] [FONT=arial, Arial, Helvetica] 2% [/FONT] [FONT=arial, Arial, Helvetica] 6[/FONT] [FONT=arial, Arial, Helvetica] Change Factor #3 [/FONT] [FONT=arial, Arial, Helvetica] 8% [/FONT] [FONT=arial, Arial, Helvetica] 24[/FONT] [FONT=arial, Arial, Helvetica] Change Factor #4 [/FONT] [FONT=arial, Arial, Helvetica] 12% [/FONT] [FONT=arial, Arial, Helvetica] 36[/FONT] [FONT=arial, Arial, Helvetica] Change Factor #5 [/FONT] [FONT=arial, Arial, Helvetica] 4%[/FONT] [FONT=arial, Arial, Helvetica]12[/FONT] [FONT=arial, Arial, Helvetica] Change Factor #6 [/FONT] [FONT=arial, Arial, Helvetica] 14% [/FONT] [FONT=arial, Arial, Helvetica] 42[/FONT]​
[FONT=arial, Arial, Helvetica] Total extra sales: 135 [/FONT]
[FONT=arial, Arial, Helvetica] Therefore I increased my sales by a whooping 45% by changing my key sales components to their optimal levels. How do you find the optimal level for each key sales component? [/FONT]
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Testing!
Testing!
Testing!
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Oh, by the way, to find the optimal level for each key sales component you will have to, well you guess it, TEST!
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Advertising tracking will become a science for you and you will be able to predict the results with confidence every time you advertise.
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Once you get everything down pat, you will be able to determine how much money you will make with your next advertising campaign.
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Listen to my device little Jedi, and you too will have the advertising "force" behind you!
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[FONT=arial, Arial, Helvetica] This scenario all to often happens...[/FONT]

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[FONT=arial, Arial, Helvetica]A company or individual develops and markets a new product or service that takes the world by storm. Orders start pouring in and everyone is thrilled with the results. Then all of a sudden there is a large drop in sales?[/FONT]

[FONT=arial, Arial, Helvetica] [/FONT]
[FONT=arial, Arial, Helvetica]Why? Because a knock-off of that product or service has emerged onto the market at a lower price.[/FONT]

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[FONT=arial, Arial, Helvetica]One prime example is the fitness product "SoloFlex" that used to be advertised in the form of infomercials on late night television. This fitness product was unique because they used rubber to form resistance rather than weights.[/FONT]

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[FONT=arial, Arial, Helvetica]Once the product or service is deemed to be a success, pretty soon knock off products emerged such as BowFlex, NordicFlex, etc... and they took a nice chunk out of SoloFlex's profits. [/FONT]

[FONT=arial, Arial, Helvetica] [/FONT]
[FONT=arial, Arial, Helvetica]How does a good marketer compete against these marketing conditions? They introduce a knock-off of their own product onto the market.[/FONT]

[FONT=arial, Arial, Helvetica] [/FONT]
[FONT=arial, Arial, Helvetica]This helps the company or individual dominate the market and makes it harder for other companies to compete with a similar product. [/FONT]

[FONT=arial, Arial, Helvetica] [/FONT]
[FONT=arial, Arial, Helvetica]Some people might not think that it makes sense because the company or individual will be taking orders away from their first product. But it may work in the companies favour. [/FONT]

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[FONT=arial, Arial, Helvetica]Let me explain. [/FONT]

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[FONT=arial, Arial, Helvetica]For example, lets assume you have developed a new invention that cleans carpets in only five minutes. Your product receives rave reviews and has become a huge hit. When you introduce a knock- off product that does that same thing your are also increasing brand awareness for the invention. [/FONT]

[FONT=arial, Arial, Helvetica] [/FONT]
[FONT=arial, Arial, Helvetica]When brand awareness increases, so do orders. So in some cases, introducing a knock-off product could even increase your sales. A customer faced with only one ad may not be tempted enough to purchase the product. But when faced with two or three competing ads, will increase the chances of the customer purchasing. [/FONT]

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[FONT=arial, Arial, Helvetica]Of course the negative factors of introducing a knock-off product is that it can be quite costly. Also the advertising costs or the knock-off product may not be entirely recouped. [/FONT]
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A lot of research and profit analysis should be done before a decision to launch a knock-off product is made. But if you have a developed a product or service that can be easily copied, developing a knock-off version might be your only alternative to maintaining your market share
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Nice thread.

By the way, I am having copy pasta for dinner tonight. My girlfriend is being such a thanks whore about it though. I just told her to go out and pick me up some post count if she really wants.
 
Oh im sorry, PLR articles are what???? Oh and no I didn't get the information from that site... In fact, most of this stuff is hidden within the pages of these sites in thousands of plr articles and ebooks everywhere. I just compiled them, I think I have said that before. And you know what, my post count isn't why I do this. I just get tired of people saying, welll how do I get started? So I have went through thousands of articles and put them in a way where they were digested. And a lot of people dont just click links. And if I could figure out who wrote the articles, Sure, I would give them credit. Also, I don't have all the time in the world for writing this stuff, I mean seriously, If you look at the datest that I posted this stuff and the times, yes it is obvious that I copied and pasted... This is bhw, its not like I am the first to do this type of thing. I just hope people are getting use out of some of this. Good luck with all your money making.
 
i have no idea if people read this or not ...but it seens that a few see it.
 
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