Webers Law

A change of stimulus is more emotional and motivational, according to base: Most subjects tested would drive across town to save $10 on a $20 item, for example, but not to save $10 on a $500 item. The lesson for sales people? If you won't lose a sale on a thousand-dollar couch over $10, sell other benefits of couch in your sales pitch.

Familiarity Fallacy

Economic choices are often made due to familiarity, even when choice is clearly worse ("But I always shop there!"). This bit of research shows need to get a customer used to coming to your business. If they are comfortable, they won't expect or demand best deal.

Anchoring

Marketing cannot be hit or miss; it must be part of your business model. Formal market planning systematically addresses getting profitable new business while maintaining and increasing profitability of your current business (busy people often overlook opportunities that are right in front of them).

That means, if selling is reaping harvest, marketing is sowing seeds.

Some SBOs and independent professionals try getting by with an unfocussed, transactional approach; savviest among them zero in on well-defined, validated market segments with good numbers and other favorables, not least of which are clear-cut needs for their products and services. By intensifying their resources and expertise in these areas and adopting market-appropriate strategies, systems and tactics, they achieve dominance in their targeted groups.

In short, they have a marketing vision and follow that vision until it’s a reality.

But that’s not all.

Developing a marketing plan also inspires SBOS and professionals to focus on big-picture need for planning and productivity throughout their practices, especially their roles in engineering their own success.

Successful men and women research, strategize, plan, and act (mostly on revenue-generating activities). Then they manage their resources so they can spend as much time and energy as possible on bottom line: doing what they do best!

About Your Marketing Vision

Marketing “vision” means looking at everything you do from a personal marketing perspective so that everything you do is true to your vision. Think of it as your conceptual framework for offering your products and services—and yourself—to prospective clients over long term: