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Money Making Tips Simple, but neglected sales and marketing strategies & tactics Presented by: Laurentiu Ghenciu VP of Sales & Marketing

Money Making Tips

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Money Making Tips - Simple, but neglected sales and marketing strategies & tactics - was held by Laurentiu Ghenciu, VP of Global Sales & Marketing, at Avangate, during the ISDEF Autumn 2009 Conference, in Moscow, Russia.

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Page 1: Money Making Tips

Money Making TipsSimple, but neglected sales and marketing strategies & tactics

Presented by:Laurentiu GhenciuVP of Sales & Marketing

Page 2: Money Making Tips

About your Speaker today

Full Name: Laurentiu GHENCIU

коммерческий директор at Avangate

Expertise and experience in online software sales, channel software sales & marketing

4 years at Avangate, e-commerce and ESD provider for Software Vendors

Talk with hundreds of Software Vendors, all over the world

Page 3: Money Making Tips

Presentation Overview

What successful companies do in terms of online sales & marketing, details that make the difference:

1. Continuous work to understand the customers and prospects needs2. Maximizing results with the same simple Marketing Tools, but used

more effectively• Viral Marketing, Bundling, Up-selling

3. Approach the latest trends in the industry• Approach new licensing models

• Sell solutions, not products

• Use the new power of “Social Marketing”

Page 4: Money Making Tips

1. Learn from your customers

“Seek first to understand and then to be understood”

Customers continuous survey

Things you can do tomorrow• 1 question survey [poll]

• After purchase

• Or before purchase

Page 5: Money Making Tips

2.1 Viral Marketing

A happy customer is your best salesman ever !

A happy customer will return and buy from you again soon!

Customize Back-Up CDs, delivery eMails, “Thank you” Page to• Invite the customer to test another product: “Thank you for choosing our product !

As a new customer we are happy to offer you a FREE 30 / 60 / 90 days trial of one of our latest products you might like”

• Invite your new happy customers to recommend your just purchased product to a friend - adding a 20% discount coupon might do miracles

• Ask for their feedback: What do you like about our product ?

• Offer him a 3/6 months discount coupon for future purchases on your site

Page 6: Money Making Tips

2.2 Marketing Tools: Bundle & Up-sell !

Less than 15% of the companies here use bundling / up-selling as marketing packaging strategy

“other” Bundling options• With other Vendors’ Products

• With other “Value Added” items/services: hardware, books, support, etc.

Up-sell to a bundle Things you can do tomorrow

• Just set up a bundle product in your eCommerce engine and display it on your site – see what happens

Page 7: Money Making Tips

3.1 New Licensing Models - Subscriptions

Shoppers need a fast and cheap solution to their problem NOW

Companies appreciate this more, as they are concerned about their cash flow

Highly recommended for high value products

Your prices will look better and will convert your shopper more quickly

• From $89/liftime, you can sell with $9 / month

Offer a time limited subscription option for your product, as an alternative to your lifetime license

Page 8: Money Making Tips

3.1 New Licensing Models - Subscriptions

What you need• DRM protection to limit your product lifetime• Recurrent billing capability [recommended]• Micropayments support

What you can do tomorrow• You do not need to change your product marketing

information• Almost any e-commerce provider can help you with a DRM

Page 9: Money Making Tips

3.2 Offer Solutions, not Products

Now some wise words• People don’t look for your product, people look for a solution to

their problem

Offer them MORE than a product• Consultancy, Information, Recommendations• Include COMPLEMENTARY products from other Vendors

Associate with good brands !• Offer a COMPLETE SOLUTION, and they will get back to you,

because YOU ARE THE EXPERT

Page 10: Money Making Tips

3.2 Offer Solutions, not Products

What do I need ?• An e-commerce platform that supports cross-vendor selling and has

your desired products set up in the system

What you can do tomorrow• Research for complementary products• Open an affiliate account to an eCommerce provider• Establish partnerships with the desired Vendors• Make 1 page on your site with complementary products • List your recommended products there (no more than 5)

This is money making from the day 1, if the products you recommend are best sellers

Page 11: Money Making Tips

3.3 Marketing via Social Networks

More and more people use social networks for business and to search qualified advice• LinkedIn, 40 mil. users• Twitter, 55 mil. Visitors/m• Facebook, 300 mil. users

Let people know about the problems your products solve

Participate to Question & Answers sections (LinkedIn)

There are many tips & tricks about how to use these new powerful marketing channels

But, be careful, it can be DANGEROUS, if you do not know how to do it !

Page 12: Money Making Tips

3.3 Social Networks - Twitter works ?

Traffic generation tool Monitor competition by using

Search Twitter http/www.search.twitter.com

It builds trust Easy to start, but hard to keep

it going Big guys are using it too !

[McAfee, Microsoft, etc]

Page 13: Money Making Tips

3.3 Marketing via Social Networks

Things you can do tomorrow• Make your LinkedIn or

Facebook profile, start Twitting

• Invite your customers to follow you on TwitterEmail them about it !

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Finally - 3 Things to remember

1. Don’t waste time – start learning from your customers now 1 question per month is a good start

2. Happy customers will buy again & sell better than you do so, use your CDs, “Thank you” Page, License Delivery Email to

give them the opportunity to recommend you and / or to buy from you again

3. Follow the trends: market your products via Social Networks, offer subscriptions as alternative licensing model

Page 15: Money Making Tips

More tips and information on

LinkedIn blog: http://blog.linkedin.com/

Free tips on Avangate articles section http://blog.avangate.com • Twitter for Dummies• LinkedIn for Dummies

Participate to Avangate Russian webinar in November

Page 16: Money Making Tips

Thank You For Your Attention Questions please ?

[email protected]

Follow us on Twitter http://www.twitter.com/avangate