Have you ever wondered how to find demand for your product and services?

To know the answer to this question, all you need to do is to follow some methods and you will realise that finding demand for your product is not that difficult after all.

The first and foremost method is to look for the products or services in the market that are similar to what you have to offer. Find out how many people buy those products and what complaints and problems they have with that product. Once you are through with this survey you should design your product in such a way that it can eliminate as many complaints as possible that people have with similar products in the market.

At the same time, try to know what people like about those products and what other things they want those products to have. The idea behind this survey is to know the exact demands of the people and try to deliver them what they want. Needless to say, this will help you a great deal in finding the demand for your product or services.

You can also try to customise your product in such a manner that it can serve the demands of a specific group of people in the society. For example, you can launch a product that it is specifically designed for teens, women, senior citizens, men, doctors and so on. Apart from targeting a group of people, you can also target people of a particular geographical region.

What a lot of marketers do is that they highlight all good things about their product. We should not forget that we live in a highly competitive world and targeting the weakness of the leading products that are similar to your product and service can work wonders for your product. What you need to keep in mind is that you have to do this in very subtle manner and without mentioning the name of your competitor’s product.

In addition to focusing on the good points of your product and targeting the weaknesses of your competitor’s product, it is highly important that you focus on the brighter side of your product. You need to tell your customers what is unique about your product that other similar products available in the market do not have. Make sure you highlight the brighter side of your products in all forms of advertisements. 

Once you know people’s needs you will not only find demand for your product but you will also see that there is an increased exposure and interest among the people for your product or services. Portray yourself in such a way that people get to know you as an expert in your particular product or service

Almost everybody in sales has suffered price objections at some point of time or the other.

However, many sales people follow the wrong path and try to grab potential customers by asking questions like “If I can offer solution to your such and such problem, will you buy that one today”? or “Holding back is the only thing that you can do”? Or “What can I do to earn you business”?

But these should not be the ultimate questions, there are a lot more that sales people may find more useful.

Hang on!

Such manipulative sales tactics are the real reasons that make prospective customers feel uncomfortable and find themselves in a state of pressure to buy that product or services.

But the ultimate answer to this is to eliminate the objections altogether. You can achieve this by spending more time finding ways which will help you meet the requirement of your prospective customers.

It is also a fact that sales people that ask more and more questions face lesser objections at the time of sale. The reason is quite simple; that means that they reveal many potential objections during the early stages of sales cycle.  Moreover, there are plenty of questions that are taken up by sales staff that will help you reveal potential objections.

They are:

“What is the time frame that you are working with”?
This question leaves a good effect when asked, which means that “When do you think you will buy”.  This will help people by putting them on a self-protective side.

“Who else is involved in the decision process”?
This is the most important question that is usually asked by sales people. The main purpose of this question is to find out the other person who is involved in the decision making process. So, if the final decision is influenced by other person, then you can end your search, and try to close the sale even without his or her presence.

“Who else are you talking to?”
This is the most frequently asked question. This will enable you to understand what other companies or vendors are making their bids on a particular project. This will provide an assistance that will help you in differentiating yourself from your respective competitors.

“How was the experience?”
You can answer this question based upon your previous experience with your prospective customer. You can now position your service or product to excel their experience at your competitors.

So, these are a few questions that will help you extract more and more information from your potential customers, which will ultimately allow you to position your service and product in a way that suit best your customers’ needs and demands.

As you know, customers are the lifeblood of your business. Without them, your business doesn’t stand a chance at success – and will crash and burn along with the many other small businesses that don’t survive their first five years.

No matter how much time and money you spend on your marketing efforts, you will only succeed if you target your advertising to the right audience and pay attention to the results.

Broadening the scope of your efforts will enable you to reach unlimited numbers of potential clients.

The key to successfully promoting your business is simple:
1.  Establish your target market
2.  Learn your client’s most intimate desires in order to find customers, bring them in to your business, and deliver exactly what they need (and keep them coming back for more!)
3.  Stock your marketing arsenal with a variety of powerful advertising tools
4.  Track your progress to determine what works for your business – and don’t be afraid to change your strategy as necessary

Once you’ve developed your marketing strategy, you need to ensure that your message cuts through the clutter and speaks to your customer. This is where your Unique Selling Proposition (USP) comes in.

Your USP should stand out from the crowd – and capture the essence of why your product or service is superior to the competitions’. If you have already developed a USP for your company, take a moment today to review it.

Is your USP powerful enough to have customers queuing up at your door?

This is another important concept. If you currently run one radio commercial or use only your business cards to market your business, you’ll have limited the number of customers you can reach.

By broadening your marketing efforts in several directions, you’ll be able to reach more potential customers – and be able to convince them that they should be purchasing your product or service.

Mix your marketing efforts up. Don’t allow yourself to get stuck in a rut of simply sending out direct mail or advertising through an e-mail marketing campaign. Try something new.

Maybe you could send out a promotional item such as a pen once a month, and then follow up with a direct mailing that advertises a discount on your product or service the following week.

Keep things fresh.

People will see you as innovative – after all you’re always doing something new and they’ll never know what to expect next. This will give your business a reputation for professionalism and creativity, two important traits to customers.

Your clients don’t want to work with stuffy businessmen, but rather creative entrepreneurs who put thought into their customer’s needs and wants.

Marketing can take time to pay off.

However, you will notice that some efforts are more effective than others. Don’t waste your time and, more importantly your money, on marketing tools that clearly aren’t working. If your television commercial hasn’t brought in a single customer or made the phone ring, cancel the ad and book a radio spot instead.

Remember…You will have to experiment to find the best combination of marketing strategies and tools for your business.

Before you begin, you must understand one thing. No matter how much money you spend on your marketing strategy, your attempts will be fruitless if you are marketing to the wrong audience.

Before you implement any marketing strategy, first identify your target client.

Determine who wants and needs your product or service. This will ensure that your marketing efforts have a greater chance of success.

You may have already defined your target market. You may have identified your clientele as middle class, 35-55 year olds. This isn’t enough information. You need to know your client intimately.

Learn their education level, their location, and their hobbies. Find out how your clients spend their money. The more you know about your target market, the better able you will be to tailor your marketing efforts.

Your marketing should speak directly to the audience and move them to use your service or purchase your product.

A survey of your target market will help you gain a better understanding of your clientele. You can make your product or service better, and improve communication with your customers by understanding their needs and desires.

Moreover, by listening to your potential customers and acting on their suggestions, you give the client a chance to put their personal mark on your business. What better way to motivate them to give your product or service a try?

Too much “Hard Sell” can mean “No Sale”.  With the proliferation of advertising both online and off-line, customers have grown wary of products or services marketed through traditional sales methods. 

Entrepreneurs of today must therefore learn how to invest more time and money in soft-sell methods.  Here are some real secrets to making your customers want to give you their money.

Share Information
Take a look at the web, and you will notice that most corporate sites invest considerable resources on disseminating information to their target market.  The information that these companies provide is geared not only to give customers a better idea about the products and services offered; they also help these companies build their brand as well as their credibility in their particular industry.

Notice, too, that one of the growing trends in television commercials is the use of controversial, funny or shocking information to grab viewers’ attention.  Statements like “9 out of 10 women suffer from…” or “the most common defect of…” give information about a topic of interest to the market being targeted.  Use this strategy to educate consumers and position yourself as a credible (and thus quality) supplier of relevant products or services.

The Human Touch
You must also improve your relationship with your customers.  Most businesses –especially those which are hard to differentiate from their competitors – lose a lot of customers because they lack the will or the means to maintain contact with their customers.  Invest some of your time and money to set up a system which will let you readily and regularly communicate with prospective and past customers.  This will help you capture a larger share of your market, and this will motivate your customers to spend more money on your business.

Lower Perceived Risks
For the regular customer, every purchase decision involves a delicate balance between risks and benefits.  What happens if the product doesn’t work?  Will they replace the defective product with a new one?  Will the product work as advertised?  These are just some of the questions that are usually raised whenever a customer contemplates making a purchase (especially a big one).

You should strive to lower your customers’ perceived risks.  Offer money-back guarantees or product warranties; showcase testimonials from satisfied customers or industry awards for product quality.  These and other similar methods will assure your customers that you will always stand by your promise or your unique selling point.  When customers are less wary, there’ll be less resistance to your products and services.

These are just some of the things that you can do to become irresistible to your customers.  Learn more by subscribing to our marketing newsletter.

Writing is one of the most important skills that a business owner can possess. Whether you are looking to write business letters, emails, blog postings, forum posts, articles, newsletters, eBooks, eZine, autoresponders or sales copy; your ability to be both clear and effective will determine your levels of impact on you readers.

Here are 5 tips for clear and effective writing:

Catch the Reader’s Attention

When you are writing you should start with a short sentence that is designed to captivate your reader’s attention. The goal of the introduction is to make your reader interested in what you have to say.

You will want to identify the bigger picture of your writing by explaining why your topic is important and how it applies to your reader’s personal or business life.

You will also be able to catch your reader’s attention by knowing the audience; who they are, what their needs are and what would they be hoping to learn or gain by reading your text.

Use Strong Verbs

Verbs describe action and readers pay attention to action. Use active verbs instead of static verbs, avoid turning verbs into nouns and beware of using technical terms that you reader may not understand.

Clear descriptions are powerful when communicating a message in a way that is interesting and easy to follow for your reader.

Keep Your Writing Simple

If your writing is not simple, you may lose your reader’s attention. Be sure to construct simple messages, avoid parentheses, strive for simple paragraphs and have a clear and organised path for your reader to follow.

An organised writing structure with well organised thoughts is crucial to use when planning your business writing.

Keep Your Readers Involved

There are several ways to keep your readers involved while they are reading your writing such as providing specific examples, using stories to paint pictures in the minds of the reader and using effective quotations when appropriate.

Use an Effective Closing

When you are concluding your written content, it is important to summarise your thoughts and to include a clear call to action for the reader to follow.

Be brief in your conclusion and be sure to end by emphasising your thoughts and what the reader’s learnings or calls to action should be.

You will need to learn how to be effective in all forms of written communication in business.

To learn about how to use clear and effective writing when drafting an email, read my article called “3 Incredibly Simple But Outrageously Powerful Keys to Guaranteeing your Email Messages are read”.

Emails can be used for business communication, general communication and sales messages as an autoresponder.
 

Discounting is a short term fix with long term consequences! While there is some disparity among experts, most say that even in the current marketplace, discounting can cause long term damage to your overall business success. According to www.sm.com.au, discounting is a costly strategy for retailers. While the book called, You Can Compete, suggests that discounting will double retail sales, most data points towards a business disaster. There are several successful alternatives to discounting that are available for your business.

Retailers who have been indulging in discounting by dropping prices and holding pre-sales before major holidays risk losing customers over the long term. Discounting can cause a business’ customers to become conditioned to sales or discounts. If a change in the economy of your infrastructure were to require a price increase, you will likely lose a large portion of the client base that you worked so diligently to build.

There are several reasons why a business should avoid using discounting as a technique to increase sales, including:

Volume
Too many companies fail to account for the effects of price on sales volume. While reducing prices could yield additional customer purchases; can the purchases match and exceed the necessary volume levels for profitability when taking into consideration the deep discount?

Impact on Customer Relationships
Dropping and then raising a price back up can create ill will within your customer base. Some companies use this pricing strategy to engage a customer or to make a sale, hoping that this sale will result in a residual long term customer. Once the loyalty has been established, some companies then participate in price gauging, losing those initial customers to their competition who has a more consistent pricing model. Deep discounting can also tarnish your brand, unless you are looking to be considered over the long term as a deep discount retailer.

Impact on the Industry
Price cuts that are not backed up by the manufacturing company’s production cost reductions can lead to competitive counter attacks, potentially eroding your company’s profits. Competition can also be created among similar retailers unexpectedly, forcing you to take a lower than expected profit per item sold.

Margins are an essential component for a business’ bottom line. To read more about the importance of business margins, click here to read another one of my articles. There are several available strategies to avoid discounting your products for sale. Your business can give away gifts with purchases that have a high perceived value to its customers.

Businesses with outstanding client service are not concerned with discounting. Evaluate your current customer satisfaction levels and your current business practices to determine how you and your business can provide outstanding customer service. In addition to great customer service, a company with outstanding products & services does not have to concern itself with discounting. Ensure that your business is offering the best products available in its field or industry so that you can demand the appropriate pricing for the product’s value.

While discounting may be implemented and appropriate for some retailers and businesses, the concept should be carefully considered for its effects on your business. The use of alternatives to discounting will be more beneficial for your business growth over the long term. Consider which strategies will be the most effective for your business and business niche.

Creating a great Unique Selling Point or USP is much like making a love letter.  You must, through words, create an image of yourself that the object of your affection will love in return.  Unlike love letters though, you’ll have fewer words with which to accomplish your goal.

Daunting as it may seem, making a USP for your business is actually quite easy if you follow the steps outlined below.  By breaking the task down into manageable items, you will be able to trim down your message to include only the most pertinent, compelling and effective words in your USP.

1.  List down the Unmet Wants or Needs. 

To make an effective USP, know what your customers want and need.  Next, determine which among them are not being met by your competitors’ USPs.  For instance, due to the rising popularity of health products and healthy lifestyle, a restaurant that has a USP of “all ingredients are 100% organic, guaranteed!” can effectively compel a significant portion of the market to dine in the said restaurant.  Gift shops can also take advantage of the market’s growing need for more personalised gifts; they can offer a range of customised or made-to-order products as well as free hand courier service.  To gain some insight on your customers’ unmet needs, talk to your customers; conduct a baseline market study.

2.  Determine Which among Possible USPs You Can Deliver. 

A powerful USP is only half of the equation.  For your USP to be really effective, you should actually be able to deliver its promise.  Offering a 30-minute delivery guarantee to customers, for example, entails that you make a study of the routes, traffic flow, production process, and the many factors involved in making and delivering your product to your customers.  This can cost money.  You may have to invest in new equipment (e.g. automatic ovens, GPS-capable gadgets), a traffic update service subscription, personnel training, etc.  Choose from among your possible USPs one that not only packs a powerful message but is also affordable, manageable and deliverable.

3.  Keep it Short, Effective and Unique: 

Now, trim down your USP to its most effective length.  Keep it below 10 words.  Include powerful ad words such as YOU (to directly communicate with the customer) and highly visual adjectives.  Furthermore, the benefit must be couched in tangible and measurable terms (delivery within 30 minutes, $xx dollars less, uses 300 Watts less power, etc) so that the readers will immediately realise its value to them.  Naturally, your final USP must be unique.
 

Having a business without a Unique Selling Point (USP) is like running for office without a defining slogan.  The result can be similarly devastating:  you’ll lose.

Your business needs a USP.  It’s your business’ unique promise to customers.  It cuts through miles of marketing red tape and categorically tells your customers that “this is who we are and this is what we can do for you that any other company cannot”.

Not having a USP will hurt your business in more ways than one:

1.  Lower Conversion Rate: 

Having no USP almost certainly means a lower conversion rate for your ads.  Your Unique Selling Point is the central marketing message upon which the customers you are targeting will focus; it will be the pivotal factor in converting potential customers into buying customers.  To illustrate, imagine that you are a typical customer who has become tired of pizza delivery delays.  Wouldn’t an ad for a pizza place that says “delivered within 30 minutes or your money back” compel you to try out the company that made this claim?

2.  Less Memorable: 

People tend to think of businesses and brands the way they think of other people.  Some are hard to remember and yet others (the noisiest, the most trustworthy, the most artistic, etc) are very easy to remember because of their defining characteristic.  In the same way, businesses that are able to invoke emotional responses from customers through a defining characteristic are usually remembered and get referred to others.  Loreal’s “because you are worth it” manages to cut through the price issue by addressing its customers’ need for quality and their desire to pamper themselves and to feel good.

3.  Less Focused: 

Not having a USP also decreases the focus for your business and leads you to try covering all the bases – to try satisfying all of the implicit and explicit promises you make to your customers.  This stretches out your resources for less the market share.  Consider Head & Shoulders’ USP “you get rid of dandruff”.  By focusing on the dandruff issue, Head & Shoulders is able to concentrate all of its resources in delivering this single promise.  It is also able to corner a specific niche or portion of the shampoo-buying market.

Indeed, being generic hurts your business.  Stand out from the crowd through your unique selling point.  Start by reading about how you can formulate a USP for your business.  Resources abound online; marketing newsletters are especially helpful in this regard.  If you are finding it exceedingly hard to create your own USP, seek professional marketing help.