If you have a ‘great’ product that is not giving you the enough sales in the marketplace, it’s time to reconsider your sales strategy. You are in business to make money and keep up with the provisions of valuable product/service to satisfy customers’ needs.
Increasing sales performance is fundamental to making money online, and the necessary steps must be taken to sustain it.
The question now is how does one improve sales performance? It will depend on the cause of the sales decline in the first place. Agreed, there are factors – government policies, natural disasters, etc. – which would prove ‘beyond our control’, but to a large extent, increased sales can be function of our actions rather than that of our inactions.
There are different reasons sales decline for different online marketer despite a great product. Consequently, addressing the exact cause would be very first step in reversing the declining sales trend.
That being said, you can take the following actions to improve sales performance of your great product in the marketplace:
Redefine who your Ideal customer is
If you are selling to the wrong audience then you will not be getting the amount of sales you need.
You need to understand “who” your ideal customer is and sell to them. Understanding their buying habits, education, income, age and gender is good step to presenting them with products they would not resist.
So, to improve your sales, redefine who your customer is and sell directly or indirectly to him/her.
Forget features and sell benefits to your customers
Whatever product we have to present, it is important that we show the customer the true benefits.
For instance, instead of presenting a “quad-core” powered laptop to a customer, we should rather tell the customer that he can have laptop that will save time for him while working. The customer wants to know “what’s in it for me” instead of the “amazing features” of your ‘great product’.
So, start projecting the benefits of product more than dangling the features. The more benefits seen by the customer, the more likely they would buy that product.
Strengthen your competitive advantage
Your product is not the only one in the marketplace, thus, you must show customers reasons to buy from you instead of going to your competitor. You must identify your competitive advantage and project it.
This advantage must be a clear focus on the benefits your product provides better than those of your rivals. Making your product better than your competition will give you better chance of making more sales.
Build lasting relationship with your customers
It is important that you build a relationship that is lasting with your ideal customers. You must interact with them and address their concerns through effective customer support.
Show interest in every little bit of their concerns and even offer them great products for FREE, when necessary.
Leave comments to help them, recommend useful resources to them, guide them on how to use a product or tool, and empathize with them.
A customer whom you have created a bond with will trust and buy from you.
Set the right price for your product
Price is one of the reasons customers buy a product. With the right price you will get more sales. People often attach price to “perceived value”. If you plan to set a higher price than your competitors then be ready to ‘over-deliver’. You can decide to set low prices to attract more buyers but you must not compromise on quality. If you want more sales then you need to set a price that would attract more customers.
Conclusively, you need to find the cause of sales decline and resolve them. The above are my take on improving sales performance.
What do you thing think can be done to improve the sales performance of a great product?