As an entrepreneur there are three basic thing you should be able to do to achieve the ultimate
Goal of being in business, “profit” if you must continue to be in business and even expand.
* Increasing the number of your customers.
* Persuading these customers to buy more in their initial order.
If you are starting a new business these are the three buttons you push to get your business off the ground.
If your existing business is in trouble, these are the three buttons you push to get it healthy again.
Customer Requirements
Getting more customers is all about generating leads, that is, getting your message in front of the right people, enticing them to take a look at your product.
Increasing the order is all about persuasion and bundling, that is, giving customers a better deal for a larger order.
Increasing the frequency of purchase is about the back end, that is, developing a long term relationship with your customers so they continue to patronize your business.
As an entrepreneur you may have implemented these strategies with certain incentives, but there is a problem.
As more and more firms go into same line of business, the customers now have variety from which to choose. When this occurs you may loose patronage, unless you apply new strategies strong enough to keep your customers and even attract more customers.
*For example, the first fast food eatery firm known all over Nigeria, was MR BIGGS. As the year go by, they where faced with steep contest, as more and more fast food eatery firms emerged with stronger customer friendly services.
But, because MR BIGGS was unable to apply a stronger marketing strategy, they where pushed behind in the industry.
In the business world firms and individuals in business are like fishermen while the customers are the fishes. As more and more fisher emerge in a particular river (competitors) with more bait (marketing strategies), the fishes will become more discriminating. Eventually, ordinary bait would not be enough to catch reasonable fishes. Unless you convert your bait into a super bait.
Convert your bait into a super bait- you have to make your bait stand out from all other bait. Apply the unique selling proposition USP this will differentiate you from all other competitors.
What is your USP?
* What ever it is, it must set you apart.
It must make you deferent, even after you have found a group of hungry fish. Even when you have discovered what they need to feed on.
Your bait will get lost in the midst of competing strategies, unless you figure out a way to make it stand out from the rest.
Meeting the Needs
Creating a powerfull USP
*Ultimate advantage.
*Sensational offer.
*Powerfull promise.
What specific benefit do people get doing business with you that they could not get from one of your competitors?
Give your customers a major benefit, make your benefit something that none of your competitors can offer.
Differentiate your product or services in at least one major way.
Cost Analysis
Entice your customers with certain immediate benefits on point of purchase such as:
*Worthy gift cards.
*Buy one take one home.
*Trade discount.
*Cash discount.
And other gift items’
Unfortunately these incentives are not good enough to keep you standing out from all other competitors, as this is what almost every other competitor knows to attract customers.
Our Strengths
Key Benefits
The consistent high patronage solution, equips you with the key to getting your customers act like their lives depend on patronizing your business’
No gift cards
No buying one taking one.
No cash discount.
It is simply the sales wonders of the millennium.
Brought to you by:
Godswill Whosent
t.saj@live.com the wonder man
