Understand This Human Behavior To Boost Sales

human behavior

What’s up ? This is THE stephane ANDRE !!! I watched an Olivier Roland’s video  and I learned some good stuff.

There is human bias that needs to get around to get your company up to the next level. What’s interesting with marketing is that it exposes human behavior. Marketing allows us to understand good and bad human behavior

Lazy

This one of the most common human misbehavior. Take the example of a registration page for online training. There are 200 prospects interested in this training who gave you their emails to know the start date.

You divide the prospects into 2 groups, group A and B. For group A (100 prospects), you ask them to write their first names and emails and click on the OK button in the form to register. For group B (100 prospects), their first names and emails are already pre-filled in the form, just check the information and click on the OK button. In group B, there will be about 10% more registration compared to group A.

Which means that in group A, there are about 10% of prospects who don’t have enough energy or motivaton to write their first names and emails in the form.

Honest

honesty

This is one of the most common good human behaviors. Take the example of a guarantee of 30 days without conditions satisfied or refunded. Technically, there are plenty of people who could benefit from this guarantee by saying : « I’ll use this product for 29 days and I’ll ask for a refund ». Of course, there are people who do that, but it’s always surprising to see that it’s a small minority. It’s something nice to see.

Psychology

Unfortunately, there are limits in honesty and it’s necessary to understand some human bias to have a good company. Otherwise your company is in jeopardy.

In a detective tv show, there is a perone who is looking for the best detective for his problem. The hero of this tv show is a detective.

The person sees the hero and says : « I did some research and you’re the best in your field ».

The tell him : « You did some research, but what exactly did you do ? ».

The person answers : « It’s simple, I went to see all your competitors, I asked them who was the best detective and they all said it was them. Then I asked them who was the best second detective after them and they said it was you, that’s why I realized you were the best ».

Did you see the human bias in this example ? When you ask a pro who is the best, he’ll answer you : « Me ! ». The pro does this because he wants to sell, he has his personal pride and maybe he really believes he’s the number 1 compared to others.

Which shows that it’s difficult to have the most objective answer possible with this question. By understanding this human bias, you can use a question that gets around that. This question is : « Okay, it’s obvious you’re the best but who’s second best after you ? ». In the majority of cases, the answer is objective.

Price

price

Let’s take another example. An entrepreneur conducts a survey with his prospects to determine the selling price of a product. The question is : « What is the price you would pay to buy this product ? ». If you ask your prospects how they want to help them, they’ll be honest but when you talk about the selling price, it become complicated. When you ask the question about the selling price, they will always tell you a lower price compared to the price they could pay.

There are 2 reasons :

  1. When a person ansers this question, she thinks : « If I tell him I’m willing to pay 100 dollars, he’ll sell it to me at $100. So, I’ll tell him $50 like that it will be cheaper ». It’s a behavior that all human beings do (me and you included).

  2. There are people who don’t know how much they would be willing to pay because they can’t see the product. When they see the product and see what it can improve in their life, they’ll decide whether to buy it or not.

To solve the problem of the 1st reason, ask the question this way : « As you’re one of the people who helped me to create this product, you’ll have a special price, but what do you think the price is that the rest of the world should pay ? ». With this question, the prospect knows that he is going to have a special price so he can give a more objective answer.

To solve the problem of the 2nd reason, there is only one way. It’s showing the product to prospects.

When you do a survey to prospects for the sale price, it’s very important that prospects understand that they’re going to have a special price. Ask the questions : « What price would you pay to buy this product ? » and «  As you’re one of the people who helped me to create this product, you’ll have a special price. But what do you think the price is that the rest of the world should pay ». You will be surprised by the different answers you will have. Test it !

Obviously, it’s not only with this question that you will determine your selling price, it will be just a clue. It’s very useful to understand human psychology otherwise you risk choosing a selling price really too low that should be and earn really less money.

Subscribe to my newsletter and share this article if you think it can help someone you know. Thank you.

-Steph

P.S. If you’re in Miami and you like Caribbean food, go to my cousin’s bistro to eat Haitian food, click here.

No Longer Being A Victim Of The Modern Slavery

modern slavery

What’s this is THE stephane ANDRE. I watched an Olivier Roland’s video  and I learned good stuff.

Are you a victim of modern slavery ? If you have not yet asked the question, I will tell you the case of infopreneurs victims of modern slavery.

This is often what happens to people who create text, audio and video content on the internet. Imagine this case, a blogger decides to create his/her blog to build a community around a concept, idea or theme for weeks, months or years with free content. This blogger works hard to create free quality content and his/her audience grows little by little.

Fear of losing his/her community

 

fear of losing panic

After a few months or years of work, this blogger will propose something to his/her audience, it’s a paid product or a paid service. After all, all work has its merits. But for a minority of his/her community, it’s the scandal, people will make comments things like : « Actually, all you’ve done from the beginning was just to do business. You don’t care about your community, all you want is to make money, etc ».

At that moment, this minority who is scandalized by a paid product or a paid service, doesn’t realize that the message they say is : « Listen, we like you but all we want it’s that you work for us for free. We agree to continue reading your blog’s articles as long as your work for us for free until the end of your life ». The people who act like this are called supporter of slavery. But the craziest part of all this is that these people aren’t aware of this because they are not going to the end of their own reasoning. They react emotionally.

The problem is that we too often see infopreneurs let themselves be impressed by this. It’s normal to earn money to live with dignity, it’s legitimate to have this process because that is how a company works. The goal of infopreneurs is to create a company based on their passion. It’s important not to be negatively influenced by this small minority in the community.

So don’t let yourself be impressed by modern supporter of slavery. You must realize that people who complain are a tiny minority. The silent majority in your community find it normal and these people are motivated to buy your product or service. You know, the small minority who is never happy is always very noise.

You deserve that

 

you deserve it

And I have to explain something to you, it’s something you’ll only see when you sell a product or a service. There are people in your community who have been following you for months or years, and who buys what your offer simply to thank you for the good free content you have done so far.

When you have recognition like that, it’s priceless and you don’t worry more about the modern slavery’s supporters of the world. Live your passion by creating quality free and paid content because « all work has its merits » and if a person is not happy, you can share this article. It’s the same for an infopreneur who is afraid of losing a part of his/her community if he/she makes a paid product/service, share this article.

Subscribe to my newsletter and share this article if you think it can help someone you know. Thank you.

-Steph

When Your Internet Company Is Not Working

internet company

I watched an Olivier Roland’s video  and I learned good stuff.

Here are some tips to improve your situation if you want to have an internet company or you already have an internet company. These principles are basically intended for infopreneurs, it means selling information products (ebook and online training) but over time all companies should use these principles to boost their reputations.

In an internet company, there are 3 pillars : traffic, authority and relation.

Traffic

This is the number of people who visit your website and your entire ecosystem (social media – instagram, youtube, facebook, snapchat, twitter, etc.).

Authorities

This is the way your audience sees you as an expert. You can be an excellent expert and not know how to communicate, so your audience sees your expertise at a level below your actual expertise. And it can also have the opposite situation where your audience sees your expertise at a level higher than your real expertise. In this case, you’re a crook !

Relation

This is the level where your audience appreciates you as a human being rather than a company.

Pillars check

What is interesting to do is to note where you think you are in the 3 pillars (traffic, authority and relation) from 1 to 10. « 1 » is the person who has just started and « 10 », is the person who is one of the best infopreneurs in the world like Gary Vaynerchuk  or Casey Neistat .

Don’t hesitate to ask people you know to have a more objective point of view. The ideal is a close friend who is really interested in your company and who understands what you’re doing. Ask this friend : « What rating would you give me between 1 and 10 ? Go ahead, be frank, you don’t need to spare my ego ! ». With an outside eye, it will help you find the problem.

Problems

problem

Perception

It’s possible that you have a huge traffic on your website but if people don’t perceive you as an expert who has enough experience to help them and they don’t like you (they perceive you more like a salesman as a human being), they will not buy your products and services.

Conversion rate

This concerns the conversion rate between your traffic and the people who sign up for your email list. People who sign up for your email list are people who are really interested in what you’re doing and who want receive the free gift you are offering (ebook or exclusive video). People who subscribe to your email list have given you permission to contact them through their email knowing they can unsubscribe at any time.

What it interesting to do is to note where you think to be in your conversion rate from 1 to 10 ? For example, when there are 100 people visiting your website, how many are subscribed to your email list ? If you rate is 0, you’re not offering any interesting gifts or you’re not making a call to action for your email list. In these cases, you have to work on it to offer a better free gift or tell people that they can sign up for your email list.

We must know that today, email remains the most effective way to contact people and it will remain so for a long time. Attention, that doesn’t mean that when you send an email thanking for the loyalty of your subscribers or a promotional email for a product/service, you shouldn’t also talk about that in your ecosystem (social media) with a video, a picture, a post on different platforms.

It’s important to know that if you’re doing content marketing and your company is based on the free content you create, you need at least a 5% conversion rate. If you do below that, you have work to do to improve your conversion rate.

Solutions

solution

Product/service

It’s possible that you don’t have a product or service to sell or like me at the beginning, I sold a product but there are only 5 people who bought it. In this case, you can do a survey with the people who are on your email list to find out what is the problem they would like to settle as quickly as possible. With this method, you’ll soon be able to create a profitable product because you solve the main problem of you audience. Attention, it’s necessary that you have 1000 people subscribed on your email list to make this survey.

Coaching

This is one of the simplest ways you can make money. It doesn’t matter if you have more than 1000 people on your email list. When we start an internet company, it’s the easiest thing to do. You offer your skills as a service to your audience. With a small audience, a good authority and a good relation, you’ll have people who will be interested to work with you by doing coaching sessions on Skype, for example.

Ebook

If you’re a person who likes to write (like me), you can create an ebook that you can sell between USD 17.- and 27.- to start earning some money.

Action

We could talk about this for hours because every situation is different. I don’t know your situation but by following these advices, you will be able to improve your company’s situation, so ACTION.

Subscribe to my newsletter and share this article if you think it can help someone you know. Thank you.

-Steph

Simple Tips To Boost Sales

boost sales

What’s ? This is THE stephane ANDRE ! I watched an Olivier Roland’s video  and I learned good stuff.

The majority of entrepreneurs all make the same mistake and if you understand this mistake, you can have the advantage over them. This is because theses entrepreneurs are focused on acquiring new clients. For example an entrepreneur who want to increase the client base by 20% per year, he/she will say to himself/herself : « OK, I have to find 20% more new clients per year ». And you know what ? This reasoning is wrong.

I’ll explain why it’s wrong. In this reasoning, these entrepreneurs don’t take in account attrition. Attrition is the clients who no longer do business with the entrepreneur. Look, if an entrepreneur has an attrition of 10% per year, which means that 10% of the clients that the entrepreneur has convinced, stop using his/her products/services. Now, if this entrepreneur wants to increase the client base by 20% per year, he/she must actually find 30% more clients per year.

You see the problem. To improve the situation, it’s necessary to know the 3 category of clients who stop using your product or service (a client who leaves the company).

Category 1

problem solve

This the easier category to deduce, it’s the client who is not happy. This client liked your product/service for a while, something didn’t go well and this client decided to stop using your product/service. What is important to know is that these clients will leave and never buy a product/service in your company without ever explaining why. That’s why I recommend you to put a system to ask those client who leave, the reasons. You can ask this type of question : « Is there a problem ? If yes, can you describe it to us ? ».

Clients in this category leave your company because there was something wrong with the product/service and often these are things that are very easy to repair. It’s possible that these are legitimate problems that are easy to solve, in this case, repair it very quickly. You can use a sentence like : « Yes, it’s our fault and we solved the problem, sorry. To be forgiven, we give you a  ?_ ? % discount on the next product/service you buy. This is a simple way to win back some of those clients who would otherwise be gone forever.

Sometimes, you’ll have clients who want while paying as little as possible and who are never happy. In this case, let these clients go because your business is much better without these people.

Category 2

This is the category whose client situation evolved. This means that at some point in their lives these clients needed your product/service and today they’re in a different situation. It’s not that these clients don’t like you product/service anymore, it’s just that they no longer need to use it.

For example, you sell a product/service for pregnant women. Once women have given birth, they’re automatically no longer clients. It’s impossible to keep those clients. But if these clients were happy with the product/service, you can ask them : « OK, now that you no longer need to use our product/service, can you share our product/service with someone do you know and we will offer her a welcome gift, because this person comes because of you ? ».

In this type of industry, clients use a product/service for a limited time so this little trick make it easy to have new clients.

Category 3

forget omer simpson

This is the category of clients who used your product/service for a while and have forgotten you. It hurt your ego but we all have billions of things to do. We have already used a good product/service and after a while, forget it. For example, I have a Tumblr‘s account. 2 years ago, I often went on Tumblr and for 1 year, I stopped to use it. For my blog, I automated a process to share a link of each article I publish on my blog to Tumblr. 2-3 weeks ago, I noticed on one of my emails that there were several new people everyday following me on my Tumblr account. Seeing this , I decided to use Tumblr more often.

Sometimes these are cases where you used a product/service for a while and for 1 year, you no longer use this product/service. Once, by chance, you see the ads of a competitor and you will buy from the competitor. You have completely forgotten that there are 1-2 years ago, you used a product/service that did the same thing.

For clients in this category, it’s necessary that you identify them to recontact them as soon as possible by offering them a gift (a discount, an invitation to an event, etc).

Conclusion

By focusing on these 3 clients categories and by setting up actions that I shared with you, you’ll be able to decrease your company’s attrition. With that you’ll have an advantage over your competitors who focus only on having new clients.

Subscribe to my newsletter and share this article if you think it can help someone you know. Thank you.

-Steph

Be A Curious Entrepreneur To Boost Sales

be curious

I watched an Olivier Roland’s video  and I learned good stuff.

I read an article about Otzi, a man who died about 3255 or 3300 BCE. It’s been over 5000 years. Otzi is the name given to a frozen and dehydrated human being discovered on 19 September 1991 at an altitude of 3210 meters nears Hauslabjoch on the border between Austria and Italy. Otzi discovered with his axe in wooden handle and a copper blade. But why a copper blade because copper is soft ?

Apart from gold, the first metal used by men to make tools was cooper. It’s just because at the time, they didn’t know that by adding tin, it made a stronger alloy, bronze.

Now, it seems obvious to people with knowledge of metallurgy but for a long time nobody knew this alloy.

What I mean is that we’re all ignorant of something. This may be something that a small minority of the population knows or something everyone knows. I’m talking about it in a broad sense, it goes to confidential discoveries to widespread discoveries. We’re ignorant of many of these discoveries, no matter how popular these discoveries are.

Here is an example. Since 1977, it has been scientifically proven that when you make a request to a person (no matter the demand), if you touch the forearm or the shoulder of this person, you can even double your chance that the person tells you « yes ». There are still plenty of people who don’t know this and there are also people who know that but don’t use it. When you become aware of this, you realize that staying alone in you corner doesn’t help you to know the discoveries that there are in the world. And over time, you’ll become the last person to know what everyone starts to learn.

Stay in touch with innovations/discoveries

innovation discovery

What is important to understand for an entrepreneur is that it’s a duty, a philosophy and a way of life to always be in touch with innovations in the scientific field and also in other fields.

Today, there are many techniques or methods that have been used and proven in thousands of sectors to sell effectively on internet. What I find amazing is that there are still a lot of entrepreneurs who don’t know that selling their products on internet is possible. It’s almost a malpractice of theirs because they cut themselves off from an enormous potential for growth.

We all know people who have recently learned things that everyone knew. We have already discovered something and realize that everyone already knew that (or almost).

What is necessary for you to be successful in the long term and build your legacy is that you need to be constantly on a process of meeting people in your field and outside of your field to learn all the time from new things. Which means that you have to read books, follow trainings, follow Youtube educational channel. You also have to go to place to meet people who inspire you and people who motivate you.

Think about it : « If you’re always in a room where you’re the smartest person, you’re in the wrong room ». It may work for a while, but soon you will not evolve and during this time, the world is moving very fast. Be part of the people who take a few steps forward to learn and execute new things and let others stand-still.

Share this article if you think it can help someone you know. Thank you .

-Steph

Work Effectively And Earn More (Part 2)

work effectively effective

I watched an Olivier Roland’s video  and I learned good stuff.

If you don’t have read Part 1, click here .

5 actions to be effective

5

Optimize your working time

Use Pareto’s Law by focusing on the 20% of your actions that contribute 80% of your results and using Parkinson’s Law to determine how long to complete a task.

Here are other actions to put in place to optimize your time :

  • Don’t disperse yourself

  • Stop multitasking – This has been scientifically proven to be a waste of time and productivity. Read this scientific study .

  • Stop interruptions – Things like smartphone notifications, emails or messages.

  • Group actions.

  • Remove unnecessary tasks – To find out if you’re doing a useless task, ask yourself this question from Peter Drucker : « Why am I doing this ? Is it necessary ? » With this question, you can easily delete unnecessary tasks. Exceptionally, you can use a notification on your smartphone that displays this question every 30 minutes. It’s a type of reminder all day long.

  • Identify the 20% of things and people that cause 80% of your problems and delete them. If it’s someone in your family, talk to that person 2-3 times a week instead of every day.

Automate everything you can

Many tasks can be automated in companies. For example to send messages on social media (I use Buffer  ). It’s possible to automate a sale on internet, it’s the customer who does everything. The customer looks for a product, uses his/her credit card by filing out the payment form of the website, and the bill created automatically based on the information provided by the customer, etc.

It’s also possible to automate a company, this is the case of Drop Shipping. Drop Shipping is when you sell products that you don’t have in stock and that are sent directly from the supplier to the customers. Amazon offers this type of service too, you can put in their catalogs products that you sell and entrust to Amazon for the stock’s management, sending and returns of products. I wrote an article on Amazon’s drop shipping, here.

There is also the case of muses that explains Tim Ferriss in his book « 4 hours workweek ».

Delegate

Focus on your strengths and delegate the rest. Create a list of tasks that you want to delegate with instructions. Then gives these tasks to a team by assigning each type of task to a specialist.

Duplicate

There is no point in reinventing the wheel. You can duplicate the recipes of your mentors success and use that in your own company.

Recycle

A job that you did can be reused in a different form. For example, articles from a blog can be used to make a book, a podcast or a video.

4 actions to earn more

4

Determine your goal and strategy

Determine your goal, your process to reach it and the strategy to put in place. Here are some examples of strategies for developing your wealth :

  • Replace your salary with real estate income and start your own company.

  • Keep your work as employee and invest a maximum on stock market to create passive income.

  • Create a company to have a complementary income like a blog, a podcast or a Youtube channel.

  • Buy a piece of land and build several apartments (condos).

  • Etc.

Optimize your management to spend less money

  • Analyse the things you have to pay to eliminate waste : unnecessary subscription, insurance too expensive, etc.

  • Print your bank statement and analyze it

  • Seeking a way to achieve the same result by spending less : compare, buy cheaper, negotiate to save money for the things you really need.

  • Optimize your taxation by reducing your taxes.

Recycle your skills and your work

You can work on something once and get paid several times. You can create a seminar, keep 3 children instead of 1, you walk 5 dogs instead of 1, etc.

You can also use a job you have already done to create complementary income. Foe example, if you like to take picture, you can put them in stock photos on internet.

Duplicate the processes known to create wealth

  • Pay yourself first

  • Make money work for you by saving at least 10% of your income to invest them.

  • Invest in yourself with training to learn new skills

Here are the options you can use to create a company that serves your life (and not your life serving your company). With internet it’s easier to use these levers with a blog, podcast or a Youtube channel by creating content.

Share this article if you think it can help someone you know. Thank you.

-Steph

Company Creation And Taxes

taxation

I watched an Olivier Roland’s video  and I learned good stuff.

It’s true that a frequent question, how to optimize taxation when we start a company.

Solid foundation

mountain

It’s extremely simple. Here are the 3 most important steps to do when we create a company :

  • First step => sell

  • Second step => sell

  • Third step => sell

The only thing that is important is to find customers who are willing to pay for your products/services. Everything else is superfluous.

Spend all your days looking for ways to pay as little tax as possible or have a Zen office to stimulate your creativity or create your website with the best design in the world, all this is superfluous. This is intelligent procrastination.

To grow your company, you need to find customers in the most efficient way possible.

Be profitable

profitable profit growth

The truth is that you’re going to ask yourself how you can optimize your taxes when you ask yourself: « Wow, I’m paying too much taxes now, I need to improve that ! ». When you ask yourself this, you’ll have ways to pay a specialist’s service. And it will also mean that your company is profitable, which is excellent.

It’s normal for an entrepreneur to minimize costs as much as possible to make the company profitable. But taxes shouldn’t be an obsession because it can make you forget the company’s mission. Your company isn’t profitable because you pay the minimum taxes. Your company is profitable because of the added value of your products/services.

So when you start your company, the 3 most important things are to sell, sell, and sell to have a profitable company.

Share this article if you think it can help someone you know. Thank you.

-Steph