4 Steps To Business Survival
4 Steps To Business Survival
The answer is to innovate! Pure and simple. People are still buying products and services and if you can make your offer standout you will get business. You can innovate on quality or cost or a host of other factors to appeal to any specific target market. Just follow these 4 steps:
1 Study your target market their behaviours attitudes like dislikes etc ask questions!
2 Decide how you can match one or more of their wants or needs
3 Test Market it to them
4 Return to step 1 and REFINE
You need to constantly refine your offering because customers now have the whip hand. They aren’t begging for your product or service as they were during the boom!
You need to convince them to buy your offering from a host of “me to” offerings. The only way to do that is to match your customers needs. So in practice you don’t talk about the features of your product or service you talk about the benefits that the customer receives. Specifically you try to find a single point that you are better than the opposition at and you own that point. Perhaps your widget is smaller or bigger or prettier or plainer than the other guys so that is the point you make.
Then rather than competing with everybody else’s widget you start to split yourself away from the pack. So the people who start to call you are people who really care about for example small widgets! Then you have a real advantage!
Naturally you find the killer angle first time so you need to experiment! Which is why we recommend a 4 step process which involves a lot of testing.
About the writer:nbsp;nbsp;Passionate about building businesses Mike Spratt BE MBA MIEI is a Dublin based marketing consultant.
For help and assistance with this or for any of your marketing needs please give me a call. I’m very happy to discuss how we could help you further.
Best wishes
Mike Spratt
http://www.rapidbusinessgrowth.ie
Phone: 353 1 491 3328
Related posts: