How To Easily Get Testimonials For Your Products & Services

Most people want some reassurance that the product or service they are about to spend money on is actually worth it. It is not hard to figure out why this is the case. Testimonials provide a strong incentive to convert web site visitors into customers.

There is also a psychological factor involved called “conformity to group norms”. This basically means that people don’t want to be left out of the group. When they see something that other people are involved in, the tendency is to want to join them to benefit from it also.

The question becomes, “Are there more effective ways than others to get testimonials?” The answer is yes.

The Chicken or The Egg

Which comes first: the testimonials or the website sales letter? The answer may surprise you. Most people would immediately say that they need to have their product available online before they can start asking for testimonials. This is not necessarily the case.

Getting Testimonials Before You Launch

You want to get your website off to a running start right? Then focus on getting testimonials before you launch. Its pretty easy to do.

The best way to do it quickly is to find willing volunteers to evaluate your product or service. Let say for a moment that your website will be selling a digital product such as an eBook. The odds are pretty good that you have already found a wealth of informative spots on the internet related to your product. There is a forum or discussion board that relates to just about anything imaginable online. Visit the forums and focus on contacting those people that frequently post there. You can approach them with an offer of them getting a free copy of your product in return for some feedback. I suggest the frequent posters because you are more likely to actually get a response from them once they get your product. They have already proven that they want to help out because they do so in the forum. If you leave it open to everyone in the forum, you are likely to get more freebie seekers who may never get back to you.

Once you have contacted the people, tell them that if they do enjoy the product, then a testimonial would be great. If they wished to give constructive feedback, that would be appreciated too. It is also important not to stress the fact that you are expecting a testimonial from them. This takes some pressure off of them, so that they’re not being forced to write something that isn’t genuine. It can also make a fantastic feedback tool for you because you can work on any issues that they may point out. Your testimonials will tend to be better because of them. About the only thing worse than having no testimonials is having ones that are not genuine or even worse, made up.

Your Network Of Associates

Another great source of potential testimonials is your network of friends or associates online. These are people that you may have had email exchanges with in the past. You need to assess each person on a case-by-case basis to figure out how appropriate it is to ask them. If you know someone is in the middle of a huge project or who probably has no interest in your product, then you don’t want to bother them. Most people would probably be willing to help as long as you didn’t ask in very short notice.

Going After Big Name Testimonials

A big name on a testimonial can certainly help increase the power of the testimonial, usually. I’m not sure about you, but I see some of the same names on dozens of websites pretty much giving the same testimonials. This isn’t real convincing! As a matter of fact, some of the testimonials are pretty obvious that they did not even review the product thoroughly. Instead they offer a generic plug. Why would someone bother even posting that?

On the other hand, it may be well your time to get a testimonial from a “big name” that is well respected in your subject matter. You can contact them via email with a direct link to the product for them to review. Don’t get all offended if they are unable to help out as they probably get approached quite a bit for it.

What Makes A Good Testimonial?

You finally hear back from someone with a testimonial. You read it and discover it’s pretty weak. Maybe something like “Its great! Buy it!! – Henry”

A testimonial like that kind of stinks! Don’t just leave it up to them to figure out what would make a good testimonial. Most people probably don’t give a lot of thought into what it is you are actually trying to accomplish with the testimonial. It’s not their fault!

The best way to get a good testimonial is to give some suggestions ahead of time. You could mention a few things that they might want to comment about such as:

Were there any specific ways it might have helped you?
Do you think it can help you make or save money (or time)? If so, how?
Anything that surprised you about the quality of the product?
Is it okay to use your name and web address (if available)?
These questions are encouraging them to think about the benefits of your product and why people should get it. This can help make the testimonials more interesting and relevant for visitors coming to your site. You are much more likely to be happy with the results.

Financing And Refinancing Through Commercial Loans

Business establishments all over the world need a proper channel of cash flow so that they can maintain regularity in growth and diversification. As it is rightly said, finance is fundamental to the growth of an old business and vital for any businessman to put the business planning take into action.

Loans for business purposes are available by pledging commercial properties or by borrowing without supplying any security. In both cases, there are lots of differences like the loan eligibility, the rate of interest offered by the lender, the loan tenure and repayment conditions. A successful business project is very often an organized one. You have to plan it well and supply with right dose of capitalization. If over capitalization of business can result in lower earning per share, the under capitalization can also have its negative effect in the form of unnecessarily high stock prices that are unrealistic.

A successful businessman always takes care of under investments and over investments. More complex financial aspects are taken care of by the financial experts and brilliant business minds. But, arranging for the daily cash flow requirement is relatively low level task that is handed over to the delegates having authority to deal with day to day functioning of the company. Business loans are one of the easiest means to ensure that any shortage in funds is met effectively at lower rates and in a competitive environment.

If you are seeking funds for a new venture, it will be perfect to take care of every possible aspect so that no problem arises later on. The root level problem that people face is the lack of knowledge when they go out and start searching for a commercial loan at low rate []. The second obstacle comes when finance is made available to you. It relates to how to generate profits out of it so that interest payments can be justified. Both these things can be answered by a well-planned and well-implemented course of action. There should be a clear-cut plan of what you are going to do with money and how you are going to generate the profits. This should be your biggest and legitimate concern if you are to reach the top of the business world.

Market trends and in-depth knowledge about the business is necessary before take a plunge into it. If you are not confident, it is not advisable to take commercial business loans and risk your capital; business is surely not a fun expedition. On the other hand, there are people who lose valuable opportunities because they think that the cost of capital is too high. The market rates are bound to fluctuate in the market. There is an opportunity to refinance commercial loans if the interest rates fall drastically in the time to come. So, do not waste too much of your precious time and proceed with your plans if you are confident of the business project you are handling.

The author is a business writer specializing in finance and credit products and has written authoritative articles on the finance industry. He has done his masters in Business Administration and is currently assisting as a finance specialist.

New Product Scorecard For Effective Development And Launch

A product is considered new if it entirely opens up a new market, replaces an existing product or significantly broadens the market for the said existing product. Old products may be considered new when introduced to a new market, newly packaged or is marketed in a different approach.

Some new product sources include academic institutions, acquisition, competition, customers, external investors and internal product development. Development and launch of new products can be very expensive and risky. In fact it is generally said to be riskier than market development or penetration. A way to make sure that the money used in developing new products does not go to waste or to reduce flops in new product launches is to adopt the new product development process.

This process constitutes generation of ideas, selection of new ideas, development and testing of concepts, business analysis, marketing strategy and many others. Planning and measuring of the new product’s success may be done against how it performs at various stages of the product life cycle – that is if the company uses this control method over the products’ progress. Important stages to consider when it comes to new product launch are the introduction, growth and maturity. The company, however, can choose other indicators as well.

For instance, indicators such as revenue from new product sales, cash flow and profit margin will indicate the performance of a new product from the financial standpoint. New products, however, are usually subject to loss at the introductory stage due to inadequate demand, research and development costs, high fixed costs and others. This must be taken into account when establishing objectives and gauging results.

Also, market share growth serves as a positive success indicator although this may not apply to all products or markets. For instance, there are some niche products or a specific product that is new and needs to open its own market.

Internal perspective indicators constitute indicators that show how the processes within the company affect the new product’s success in terms of development and launch. These indicators are budget and schedule compliance, new product development evaluation, marketing mix and occurrence of shortages or excess of new products and resources. Going beyond the budget or schedule or regular shortages show that something could be wrong in the company’s operations, which may lead to failure in new product development and launch.

Moreover, frequent evaluation of the new product development process and the marketing mix quality can help boost company expertise as well as identify changes or modifications that can be established to improve product performance as well as the company’s performance overall.

The next set of indicators shows how new product launch can affect the situation in the company. Additionally, customer perspective indicators include repurchase rate, number of complaints and customer awareness of new products. Development and production of new products usually require new skills, which could be through training. Employee participation in new product development is also similarly important as well. In addition, evaluation and analysis of every launch is essential in order to achieve company expertise in launching new products.