Friday, December 7, 2007

Chapter 7

Ahhhhh, finally! My cup of tea! I have a degree in marketing and I worked in sales for a year before starting this program so I can relate to everything Simson said in this chapter. Sales is all about numbers. It's a numbers game and is very much a contact sport. The more people you contact, the better shot you have at making money. In my industry, on average, 50 touches accounted for 3 sales (or there about) so you had to contact as many people as possible to try to get the sale. This is what is being said in this chapter. With the help of technology, CRM systems are being more and more advanced allowing people to market to individuals, not groups. I get emails from Best Buy and Circuit City telling me about the newest DLP TVs and other electronics. Why? Because I purchase electronics and DVDs at those stores. It really is genius how firms are able to massage data to determine who would be best to advertise to. Like was said early in the chapter, "you don't sell dog food to a cat person". This is why I am not getting information about the latest appliances that are on sale. I simply do not buy those items. Technology has enabled companies to predict future purchases based on previous ones. It has really changed the marketing industry because it used to be, "throw it on the wall and whatever sticks is good". Now it's more like a sniper. You target who you want and go for them with out wasting time or resources on people that you do not want.
Unfortunately, there are people who buy information and use it against others. These people are the scammers who try to get you to donate money or invest in the "lastest and greatest" invention ever! There are no laws prohibiting this though as long as the amount of money people are sending is relatively small. So a word of advice to you is never send anyone money...... It's just not smart.

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