How to turn your sales around and win more customers
I’m no stranger to discussing numbers on the blog, but they usually involve the expenses side of a business. This month, I want to discuss the other side of the equation—the revenue side.
People start a business for many different reasons. Those reasons often involve serving an underserved population or providing products that people need. The entrepreneur’s reasons are usually bigger than just making a profit.
However, if your business continually spends more money than it takes in, it won’t be a business for long. In order to be successful in business, you have to provide a product or service that people want.
I have seen many businesses shut down because they didn’t sell what people wanted. In my eight years in business, I’ve also learned a few things, and I’d like to share them with you.
I may not be a professional marketer, but I’ve learned that there are three ways you can help ensure that your business provides something someone wants:
Find your target market - Your target market is the section of society that will purchase your goods or services. Your target market is not “everybody.” For example, there are very few items that both a 65-year-old man and a 25-year-old woman would want. Even among 25-year-old women, there are various categories and life stages: married, single, mother, working, college student, etc. Each of these categories has different wants and needs.
Ask them - Once you identify your target market, find out where they hang out. See what their needs are. What are their pain points? How can your product or service help alleviate that pain?
Craft your offer - Once you know your target market’s pain points and you have a product or service that can meet those needs, put together a package that addresses those needs. If you can’t fulfill their needs, be clear about that and, if possible, refer them to someone who can help.
One last lesson I have learned in business is to not be afraid of other people who are offering the same (or similar) product or service you are. There are plenty of customers in the world to go around. Plus, while your product or service may look like someone else’s on the surface when you get down to details, it could vary significantly from what you are offering. Also, you are unique! No one else is quite like you. So even if you are offering the exact same product or service, the way you offer it and the unique experience you provide could be what sways someone to purchase from you instead of your competitors.
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