IFE OGUNFUWA writes on ways to develop products or services to sell fast
Small businesses and large organisations are recording dwindling sales as a result of consumers’ low purchasing power. As such, there is a need for business organisations to revisit their overall marketing strategies.
Experts say that an improved marketing strategy should not only be about promotions and advertising, but that every aspect of the development of a service or making of a product should be analysed and improved.
According to them, increasing sales at this time may require you to find new people who will buy your product or service.
Business consultants have highlighted some compelling ways to make your products and services more attractive to your consumers.
Make your products or services easy to buy
One major thing that drives the buying decisions of people is the value a product or service offers.
And in highly populated cities with perennial traffic congestion, values that consumers appreciate are convenience and timely delivery.
A business consultant, Mr. Segun Adigun, says online training services have met this need for convenience by eliminating cost of transport and addressing time management issues for many people.
For example, he adds, “Uber has revolutionised the transport industry and has made it possible for cab drivers to get customers through mobile apps on their smartphones. It also makes it easy for commuters to book for private transport and be charged fairly. E-commerce stores that offer fast delivery services are also gradually replacing brick and mortar stores.”
Develop new products
In order to develop new products, experts say that you need to analyse the existing product or service for faults.
They explain that this information can be obtained through feedback from existing customers and can be used to develop new products or services with better satisfaction.
Adigun, says that it is common for structured businesses to develop innovative products to replace less effective ones.
He says, “Email and wireless messaging was developed with the advent and wide use of the Internet as a more effective tool than postal services. DVD players are improved forms of cassette players.
“Inventors of new products should not allow competitors to take over the market through disruptive innovations, but they should invest in research and development in order to develop new products as the need arises.”
Develop multiple products or services
The Launch Coach, Dave Navarro, says that business owners need to think of two, three or more products down the line that your customers will need.
This is to ensure that when your customer gets what they need from your first product, you will have something to take care of their next problem as well, he adds.
Navarro says, “Look at what you are selling and ask yourself; ‘What needs would a customer have immediately after using my product or service?’ Then start brainstorming on ideas for additional products or services to create.”
Create products’ information in multiple formats
Navarro says that products’ information should not necessarily be produced in books or DVD, but other formats should be considered.
He explains that people like to learn in different ways; while some people prefer videos, others want to read or to listen to the products in their cars or iPod.
He advises, “If you don’t offer your products in multiple formats, fewer people will buy. The good news is that creating multiple formats and making them look good isn’t that difficult. There are plenty of tutorials on the Internet on how to make audios, videos and PDFs.”