In today’s business world, many startups and small businesses struggle to increase sales regularly not because they do not have good products/services in the market, or because they lack the right team to push their products. Rather they struggle with sales because of their understanding of the client’s needs, and their ability to create value.
To increase sales there are important questions you must answer as a business.
Why do people buy from me or the competition?
The answer to this question is very simple. As an entrepreneur, you must understand that people don’t just buy products or services for the fun of it, they buy because they want to solve a problem. Whether it is from you or your competition the goal for the client is to solve a particular problem.
How best I’m I solving the needs of my clients/target market?
To answer this question you have to properly understand the client’s needs, evaluate your product or service, and be honest enough to say whether or not your current product or service is well-positioned enough to meet the needs of your target market. If it is not, highlight the areas where you are lacking and improve on those areas if you want to increase sales.
Why should people buy from me and not the competition?
People will buy from you and not the competition if your product or service possesses any or both of these characteristics; Efficiency & Cost-Effectiveness.
Clients are looking for a more efficient and cost-effective way to solve their problems, if your solution can meet these criteria better than your competition you will automatically acquire more market share and increase sales compared to the competition.
How do I create more value for my clients in order to increase sales?
To do this, you have to truly understand the needs of your clients and your target audience. There is no magical way to do this except by requesting feedback from customers, carrying out product or service satisfaction surveys, user engagement research, and exercises, etc.
As a business, to turn in sales, you have to properly understand the needs of your target market, make sure you are in the best position to satisfy these needs by creating the best value for them, and endeavor you are flexible enough to adapt as your customer needs changes.
