Chapter 10

Customer vector

A type of CRM report which segments by customer (or customer group) on purchases or dates of purchase

Sales leads

People who receive a promotional impression and who give some thought to buying the product.

Marketing funnel

The rule of thumb in marketing that it takes a large number of people to be made aware of your product in order to find a purchaser.

Issue recognition

A concept in public recognition which alludes to the extent to which the public is familiar with the issue or problem at hand.

Public recognition

Being recognized or acknowledged by large numbers of people, similar to "fame."

Cognitive dissonance

Doubt that occurs after a purchase has been made. An inconsistency between experience and belief.

Free ink

Mentions of your company or products in the media for which your firm did not pay.

Prospects

Sales leads who actually make some sort of effort to learn more about the product, service, or business in anticipation of a possible purchase.

Value proposition

Small business owners' unique selling points that will be used to differentiate their products and/ or services from those of the competition.

Personal Selling

Step 1: Prospecting. In this stage you are looking to find potential customers and evaluate the best methods to reach them. Step 2: Prepare your plan of attack. Have you brochures and flyers ready. Practice your pitch. 3: Present the information to the potential client Make sure the presentation is short enough to hold their attention At the same time you must convey your passion and stimulate interest. This is the only chance you get to make a first impression The Close: A major fault of presentations is that no one asks for the sale. Ask "How many would you like" or "Now lets write up your order" rather than presenting the information and walking away. Follow-up: When the order is sent, make sure it arrives in good condition and on time. Make sure the product performed as it should. This helps build a customer relationship which will lead to increased repeat sales.

Impression

What it is called when someone notices a promotional effort.

Succinct Message

Your key point in as few and as memorable words as possible effective