Sell Small Pieces of Large Reports
An article published in The Baltimore Sun reports that CD sales are “down almost 7 percent” from last year’s totals, while “paid download sales grew 175 percent the first half of 2005.” It seems obvious that music lovers are smitten with having access to one or two songs from a CD rather than buying the entire album.
The music industry seems to have come full circle, with one song, reminiscent of the vinyl 45s we used to buy, being a popular buying choice, this time in a downloaded format. But industry veterans believe that complete CDs will continue selling well.
What can solo and small business owners learn from the music industry? Large reports, collections, and other high-priced products and services should be reviewed to see what can be sold as a smaller, single product.
For example, my company sells a guide listing 450 wholesalers. The guide is also available in smaller, single state versions, which has outpaced sales of the complete guide. More revenue has been earned through selling the state versions, as customers want to know where they can buy locally rather than nationwide.
Some of you may have a gold mine of intellectual property to segment in this manner. If you can’t see the potential, get advice from allies at networking events or by surveying your customers. Make more money by separating already-collected data into smaller pieces. It’s a no brainer.
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Shirley George Frazier - Solo Business Expert, Author, College Mentor
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This tip is going to help me tremendously. I do indeed have a wealth of intellectual property that can be separated into smaller chunks. I’m going to examine my files right now and begin chopping them into smaller money-making pieces.
Thanks for this no-brainer.
It’s wonderful how this not only lets you create new products and services but also increases your marketing potential.
Promotion can be channeled locally, straight to the people within a state, region, or city who are most likely to buy. That’s much easier than national promotion.