For example, the owner of a high-quality music streaming service might find that his service appeals most to young adult to adult males with large amounts of disposable income who live in urban areas.
For example, set a goal for a maximum percentage of damaged or faulty products you’re okay with producing, for a certain number of customer complaints you think is acceptable, or for a certain customer wait time.
If your product is sold as premium alternative, you may be able to charge more than competitors. If it is a discount option, expect to charge less than competitors. You can always adjust your prices to see how your sales will respond. This method of trial and error might hurt your bottom line for a while, but finding the best price point will help you in the long run. [3] X Research source
For example, the premium music streaming service mentioned in the previous example might advertise as “the only platform that streams at a rate of 1411 kbps. " If you’re trying to sell web design services, you might comment on what you offer that website building software cannot.
Try to pinpoint your target customer’s “pain points,” which are problems that your product or service can solve, and design your marketing strategies around addressing them. For example, a customer might be unhappy with the quality of the product or service they are currently using. Other pain points might include high prices or hard to use products or services. This should also be applied to the channel you use for advertising. Only use those that your ideal customers are likely to use as well. For example, some customers may not use the radio or television very frequently, but often find themselves browsing online. In that case, you would want to focus marketing efforts online.
Then, provide proof of your claims by offering some type of data or content to back up your claims. These can include customer testimonials, reviews, success rates, rankings, or other statistics.
This metric can then be used to redirect future marketing efforts to make them more efficient and effective. [5] X Research source
You can also work through referrals by previous customers and by “influencers” to reach large groups of new customers. Another option is to try affiliate marketing, which is working with another business that attracts similar customers, but not does directly compete with you, to promote each other’s products or services. [7] X Research source
Analyze the effectiveness of promotions, different contact methods, and direct solicitations on your conversion rate. Focus on building a relationship and selling value, rather than just selling the customer as much as you can. [8] X Trustworthy Source U. S. Small Business Administration U. S. government agency focused on supporting small businesses Go to source Make sure that your website is driven to convert—a lot of that revolves around copy. Without copy, no one can find your website; so, you need to not only have those words, but have those words be compelling enough so people hang around your site.
Train your salespeople to listen to customers in an effort to identify their problems and hesitations about buying. They should be able to link those problems to the benefits offered by your product or service and address any hesitations the buyer might have. [9] X Research source
Give the customer the option to opt in to your mailing list so that you can send them regular updates. Use a mailing service, whether physical or email, to send out updates and special offers to your mailing list every few weeks or once a month. [10] X Research source
Once you have a list of your best customers, look for similarities between them. If they’re businesses, are they primarily big or small? If they are individuals, what are their primary demographic qualities? Use this information to focus your marketing efforts. [11] X Trustworthy Source U. S. Small Business Administration U. S. government agency focused on supporting small businesses Go to source
For example, coffee shops often sell pastries or other breakfast foods that can be purchased with the coffee. Salespeople need to be trained in explaining the benefits of add-ons clearly and convincingly. This will help the customer see how they work together to create a complete package. [14] X Research source
For example, you might give a 10 percent discount to customers who purchase more than $200 worth of goods. However, don’t offer too many of these discounts or make the threshold very low. If you do, customers will start to consider your products or services to be worth less than full price. [15] X Research source
Work to standardized your brand across your marketing materials, employees, and business locations. If customers know they can trust their experience with your product and customer service, they will be more likely to choose you over competitors.
