Why Long-Form Sales Letters Work

Have you ever gone to a web site and realized that its nothing more than a one page sales letter? You scroll down only to see about 50 paragraphs full of rhetorical questions, descriptions, testimonials, subheaders, and postscripts. You may ask yourself - "Why in the world would someone develop their web page like this?"

Joel Comm, an online marketing expert, recently wrote the following article about Internet sales letters in the October 2008 issue of Feed Front Magazine:

For years now, the standard sales tool for Internet marketers has been the long-form sales letter. These can go on for thousands of words, offer testimonial after testimonial, sub-heading after sub-heading and postscript after postscript.

They’re enormous, often repetitive and it’s unlikely that anybody has ever read one all the way through to the end. So why do marketers still use them? The answer is simple: they work.

In one test conducted by the Marketing Experiments Journal in 2004, longform sales letters consistently outperformed short copy, sometimes by as much as 400 percent. In my own experience, I’ve seen upsells and one-time offers produce conversion rates as high as 70 percent.

That doesn’t happen often – but I’ve never had it happen with any other sales technique. The reason they work is that a well-written, long-form sales letter will do two things.

First, it will push every sales point and answer every objection from every member of the audience. That’s something that’s always going to take up a great deal of space. But it’s also why marketers don’t expect the audience to read all of the copy.

The sub-headings are meant to provide easy entry and exit points for readers. Different readers will have different objections and they’ll be persuaded to buy because of different benefits. As readers scan a sales letter, the format of the page will naturally help them to notice the points and arguments that are most likely to persuade them.

Of course, they’ll also miss a lot but that’s important too. The Internet is the ultimate comparison shopping tool. More information about a product and more products that do the same thing are never more than a click or two away.

By providing readers with an overdose of information, marketers keep truly interested buyers on the page. If they can’t even finish reading the information in front of them, they’re less likely to feel a need to look for more information elsewhere.

It’s why a common reaction to a long-form sales letter is “Okay, I get it. How much is it already?” When you can make a lead ask that question, you really should be able to turn them into a buyer.

Long-form sales letters need top quality copy. They need careful testing and tweaking. But when the information and the words are right, they’re also surprisingly effective.

To subscribe FREE to Feed Front Magazine, visit:
www.feedfront.com

Negotiate a Win-Win

I was skimming through some Donald Trump blog archives, and found this interesting one about negotiation. He writes:

My most successful negotiations have come from bridging the gap of misinformation and miscommunication between buyer and seller. Once I can get to the truth about what the parties are truly motivated by, I can then structure a deal that makes everyone happy. It’s a universal principle that holds true in business, marriage, friendships etc.

If as a businessperson, we would shut our collective mouths for a moment and listen to the other side’s position, we will gain the understanding of what they are thinking and needing to be able to accept our proposal /offer (or whatever). We can then incorporate and address those needs in our offer and thereby eliminate any objections they are having.

The hard part about invoking this strategy is that you have to know what questions to ask and be able to give the other party a comfortable way to express their side openly and honestly. This only works if you truly DO CARE about creating the WIN-WIN. The moment the other party suspects you are using their information to manipulate them, prepare for the negotiations to go cold.

Author Stephen Covey cites this principle as one of the 7 Habits of Highly Successful People - "Seek first to understand and then be understood." Try applying this to all of your relational dealings and see how much more effective you are at getting what you want in life.

Economic Forecast From One Black Entrepreneur

For over 2 years, Bro. Bedford, founder of HowToBeABlackEntrepreneur.com and author of Conversations With Black Millionaire Entrepreneurs has been warning of an impending financial collapse of the U.S. Economy.

With the collapse of the real estate market, the vanishing of some of the largest banks and businesses in the history of the United States, bailouts totaling over $1 trillion, the unemployment rate rising, as well as the price of food and gas being at record highs it is clear that his words were not empty.

When asked if this is the end of the economic slump, Bedford says, "The opposite is true, this is just the beginning of a long and painful transition from an economy that was once dominated by America to a global economy that is dominated by billions of people."

When asked, what he thought Black people should do to navigate this terrible economic environment. He comments, "We must become more entrepreneurial, and I'm not talking about implementing the business models that we see failing. I'm talking about learning how to market products or services directly to customers worldwide, affiliating yourself with similar entrepreneurs and doing joint ventures to cross sell and market products. These models are what is working and will continue to work in the future."

"From an investment standpoint I suggest buying silver and gold," he adds. Bedford has a Free Report discussing the fall of the U.S. Dollar and Black people being prepared located online at www.fallofthedollar.com

To gain immediate access to an audio-MP3 and PDF transcript of the training of How To Buy Silver & Gold: To Protect Your Wealth and Savings, visit: www.howtobuysilverandgold.com

2008 Booker T. Washington Economic Development Summit

Booker T. Washington, (first President) of Tuskegee Institute (University) was a staunch supporter of entrepreneurship and other economic growth among African-Americans. He was founder of the National Negro Business League in 1900 after seeing a need for African-Americans to build an economic network and allow that to be a catalyst for change and social improvement.

Today, the Summit, adheres to the historical and philosophical perspectives of Washington and focuses on entrepreneurship and business development as a means for African-Americans and other people of color to obtain economic and political parity. It targets individuals, organizations and institutions for empowerment through knowledge acquisition and networking for entrepreneurship as key ingredients to a whole-community approach to economic development.

The 13th annual summit will take place November 19-21, 2008 in Tuskegee, Alabama. Speakers include Dr. Farrah Gray, Dr. Randal Pinkett, Dante Lee, and others.

Who should attend?

* Collegiate entrepreneurs and advisors
* Community development corporations
* Small business owners
* High school students and advisers
* Youth services agencies
* Youth development personnel
* Entrepreneur training developers

For more information and/or to register, visit:
www.tuskegee.edu/btwsummit

How To Get A Standing Ovation

Guy Kawasaki of Entrepreneur Magazine recently outlined several points on how to put on a successful speech, and get a standing ovation. Here are just a few:

1. Have something interesting to say. This is 80 percent of the battle. If you have nothing to say, you shouldn't speak--end of discussion. It's better to decline the opportunity so no one knows you don't have anything to say than it is to make the speech and prove it.

2. Cut the sales pitch. The purpose of most keynotes is to entertain and inform. It's seldom to provide you with an opportunity to pitch. For example, if you're invited to speak about the future of digital music, don't talk about the latest MP3 player your company is selling.

3. Focus on entertaining. Many speech coaches will disagree, but the goal of a speech is to entertain the audience. If people are entertained, you can slip in a few nuggets of information. But if your speech is dull, no amount of information will make it great. If I had to pick between entertaining and informing an audience, I would pick entertaining, knowing that informing will probably happen, too.

4. Understand the audience. If you can prove to your audience in the first five minutes that you understand who they are, you've got them for the rest of the speech. All you need to understand are the trends, competition and key issues facing the audience members. This simply requires consultation with the host organization and a willingness to customize your introductory remarks.

5. Tell stories. The best way to relax when giving a speech is to tell stories--any stories: stories about your youth, stories about your customers, etc. When you tell a story, you lose yourself in the storytelling. You're not "making a speech" anymore. You're simply having a conversation. Good speakers are good storytellers; great speakers tell stories that support their message.

6. Precirculate with the audience. Here's how to heighten the audience's connection with you: Talk to them before the speech--especially the ones in the first rows. Then, when you're at the podium, you'll see these friendly faces. Your confidence will soar, you'll relax and you'll be great.

7. Practice, and speak all the time. This is a "duh-ism" but nonetheless relevant. My theory is that you have to give a speech at least 20 times to get decent at it. You can give it 19 times to your dog if you like, but it takes practice and repetition. There's no shortcut to Carnegie Hall. As renowned violinist Jascha Heifetz once said, "If I don't practice for one day, I know it. If I don't practice for two days, the critics know it. If I don't practice for three days, the audience knows it."

For the full article, visit:
www.entrepreneur.com/magazine/entrepreneur/2008/october/197100.html

The Business Plan is Dead?

Raising capital is a competitive situation in any arena, couple that with a new economy that operates at light speed and technology that can make an idea obsolete, the days of the 80-page business plans are over.

Based on his experience raising millions of dollars for various business ventures, African American venture capitalist Jeff Wofford offers his invaluable knowledge for "fund" raising in the new book, The Business Plan Is Dead: How to Raise Capital in the New Economy.

He skillfully guides experienced entrepreneurs who want to start a business or those that need more capital on what's important to focus on within their business plan.

He comments, "Raising capital is a competitive proposition. Your new economy business plan will help build a concise compelling story. Traditional business plans are long-winded, no longer used and frankly irrelevant for raising startup capital."

The book is available at Amazon.com and BarnesandNoble.com

Be Prepared For A Down Economy

Its interesting to note that while Washington Mutual is going through bank failure, JP Morgan & Chase is acquiring them. Likewise, Wachovia Bank is going under, but Wells Fargo and Citibank are making bids to buy them out.

In a failing economy, how is that one bank is going out of business, but another is doing so well that they can purchase the other for billions of dollars?

The answer is simple. The ones going out of business were not prepared for the economy crisis.

What about you? Is your company prepared for a down economy? Do you have a worst case scenario plan ready? Do you have money tucked away for not just rainy, but stormy days?

Here are some tips from eHow.com:

1) Think about how you can recession-proof your business. Determine how you can keep it running with some type of service work, or sell a product that customers will purchase no matter how difficult the economy.

2) Consider how you will recession-proof your finances. Find a way to put money into an emergency fund every month and try to save six months worth of living expenses.

3) Set a budget and monitor your spending on a daily basis to prepare for a down economy. Write down every expense you have or you anticipate so there is nothing that will keep you from staying on budget.

4) Control your income by saving for large long-term bills. Put a specified amount away every month to pay the semi-annual and annual bills such as insurance; you usually receive a discount for paying in full instead of paying monthly.

5) Diversify your investments with stocks and bonds. Consider moving a large amount of your stock money into bonds during a threat of a down economy, because bonds usually go up when interest rates go down.

6) Make a change of industry. Check out professional contacts, have your resume up to date and keep your eyes open for new opportunities.

7) Prepare emotionally for a down economy so you don't panic if it happens.

Internet Guerilla Marketing 101

Guerilla marketing consists of a series of highly aggressive marketing practices using unconventional methods. It works wonders for those who have very little time and money to invest in their marketing agendas.

Jay Conrad Levinson, the father of guerrilla marketing, has authored several books on the subject - showing people how to survive the advertising jungle on a shoestring budget.

Recently, Levinson and online marketing masters Mitch Meyerson and Mary Eule Scarborough have released their newest book entitled Guerilla Marketing on the Internet that shows you how to successfully enhance your initiatives on the web.

The book reveals:

* The 10 most effective Guerrilla strategies
* Case studies of the five greatest online Guerrilla Marketing campaigns
* How to create a high-impact website on a budget
* Low-cost tactics for maximizing traffic
* The 12 biggest internet marketing mistakes and how to avoid them
* Creative tactics and cutting-edge tools that inspire customers to take action
* Essential information on cutting-edge technology

I highly recommend getting this book!

The First Social Network For Black CEOs

My company, Lee Moss Media, has recently launched BlackCEOs.com - the first ever social network and online community for African American business owners. Free to join, users can create their profiles and interact with other users. They can also read and post news, blogs, events, and more.

Members vary from local business owners to nationally-recognized CEOs. The objective, is not necessarily to get them to do business with each other, but to share resources and tips, and dialogue about potential ways to work together as partners.

Many of you who are members of LinkedIn.com or Plaxo.com will find this to be a similar resource, just more targeted to African Americans. I highly recommend you join if you're interested in surrounding yourself with other like-minded individuals like yourself. Again, it's 100% free.

To join the site, visit:
www.BlackCEOs.com

Nominations Needed For "Influential Black Women in Business Awards"

The Network Journal is currently seeking nominations for its 11th Annual 25 Influential Black Women in Business Awards. The selected group of honorees will be recognized for their contribution to the community and the success they have achieved in their businesses and professional careers. The awards are open to women who are business owners, or senior executives in the public, private, or non-profit sectors.

The Network Journal seeks applicants with a proven track record, as well as exceptional individuals who are up and coming in their field. The ideal candidate will be an accomplished professional with a commitment to excellence and their community. Women may be self-nominated or nominated by a third party.

Women may be self-nominated or nominated by a third party. The nomination packet must include a cover page, a current biographical profile, resume, two letters of recommendation, and optional supporting documentation of the nominee's professional commitment and community involvement. The cover page must include the nominee's name, address, telephone, cell and fax numbers, email address, place of employment, length of employment, and current title. It should also include the nominator's name, address, telephone, cell and fax numbers, email address, place of employment and current title if the applicant is not being self-nominated. DEADLINE FOR ENTRY IS FRIDAY, OCTOBER 17, 2008.

Please submit the completed packet to:

The Network Journal
25 Influential Black Women in Business Review Board
39 Broadway, Suite 2120
New York, NY 10006
OR
Denise@tnj.com

Upon acceptance, award recipients will be required to provide between five to ten photographs including a high-quality professional headshot. Honorees will also be required to submit other pertinent documentation. Failure to do so in a timely manner will result in immediate disqualification. Please be advised that photographs, age, birth date, title, and company of award recipients will be used on promotional items for the awards program including the March 2009 edition of the magazine.

For more information call 212-962-3791, or visit www.tnj.com/events/25women_form.php


The Network Journal is a monthly business magazine with more than 86,000 readers. The publication is distributed nationwide with a focus on the Tri-state area (NY/NJ/CT) and features business articles of interest such as finance, technology, industry focus and ideas for Black professionals and small business owners. More information can be located at the publication's web site www.tnj.com