Know thy product.
“Don’t find customers for your products, find products for your customers.”
Do you have the right product?
The first question you should ask yourself. Does your product solve a problem or make life easier for the consumer? Companies with products/services that directly answer a consumer problem tend to be the most successful. And when you make life easier for someone the tendency is for them to spruik it to their friends and family. So in turn, word-of-mouth referral is higher.
Another thing to consider. Is your product/service offering something unique to the market? This is referred to as a Unique Selling Proposition or Unique Value Proposition. It is hard to survive in a competitive market if you are doing the exact same thing as your competitors without setting yourself apart with some sort of edge or point of difference. So ask yourself, what are we doing differently that could become a leverage point? Once you have established that point of difference you then need to align your marketing plan to ensure you are highlighting that edge with future campaigns.
SEE your product through your customers eyes.
A lot of business owners fall victim to creating a product that they want but not necessarily what the customer wants. And let’s be honest, when you are so invested and involved in your business you create your own little creative bubble not to mention an ‘echo chamber’ with colleagues and friends with similar vested interests in the business. So without good market research, product testing, and research groups you can easily head off in your own direction which could in turn put off the very customer you are trying to attract.
As mentioned in our previous blog ‘Know thy customer’, it is worth becoming familiar with the Consumer Decision Making Process which will motivate you to understand the steps that the customer goes through in finding your product.
it goes without saying… Know your product better than anyone else.
Granted you have already got a business in existence, it would be safe to say you have spent many late nights perfecting your craft. So this one is a given. Know your product better than anyone else. Know it inside out. Try and fault it. Look for weaknesses and turn them into strengths. What are your competitors doing well? Figure out a way to do it better. Commonsense really isn’t it?
Believe in your product, because if you don’t why should anyone else.
Is this business a part of a bigger picture for you? A dream. A passion. A lifestyle. A love. Because if it isn't, it will show itself within the cracks of your business and consumers will sense it from a mile away!
This a fundamental for doing business. Do something you love, that will make you spring out of bed each morning with eagerness to see what the business day will have in store for you. Because heck there is a good chance you will be doing it for a big portion of your life.
And for the business owner who is already doing exactly that, your passion will shine through in your work and when you speak to customers. Passion is also contagious. You will leave customers vibing your energy! So props to you. Keep up the good work.
How can you add value to your product?
There are many ways you can add value both tangible and intangible. Here are just a few to get you thinking.
Outstanding customer service
Courtesy follow up after sales contact
Personal touch
Packaging
Social Aspect - % per sale donation, each sale a tree planted etc.
Referral incentive
We hope you enjoyed the read. If you and your business would like some assistance in this area we always love a chinwag at Northern Creative so please feel free to get in touch.