What do you do if your products or services need a boost?

Conduct Market Research: Start by conducting market research to understand your target audience's needs, preferences, and pain points. Identify trends in your industry and gather feedback from existing customers to pinpoint areas for improvement. Refine Your Value Proposition: Clarify and refine your value proposition to clearly communicate the unique benefits and advantages of your products or services. Highlight what sets you apart from competitors and why customers should choose your offerings.

I have a simple approach to Marketing. 4 Steps to Success. Step1: Meet with your customers, Step2: Find out what they want from their suppliers, Step 3 Give it to them. Step4: Show them how to execute and grow together.

Explore new market, and also work on gathering feedback from real consumers rather than early adopters or buyers. Value chain always has scope to add value, so value chain needs to reassessment.

Begin by grappling with the essence of your ‘why’—that driving force fuelling your product or your service. It's about galvanising your squad, carving out your niche, broadcasting your dream with clarity and conviction. Yet, that’s merely the starting block. Wrap your arms around the Triple Bottom Line: your financial gain, your team, and the great blue and green orb we call home. Forge ahead with innovation, but do so thoughtfully. Lock arms in partnership, cultivate enduring worth. This journey transcends mere profit-making; it’s about imprinting your mark on the world, indelibly, for the better.

In moments when our products don't hit the mark, I look straight to the core: what do they truly offer to our customers? If there's a mismatch or if they've lost their edge, it's back to the drawing board. This isn't just about tweaks or new features; it's about realigning with what our users need and value most. It's a straightforward approach, but it keeps us connected and relevant, ensuring we deliver not just what we think they need, but what they actually do.

Connect with your customers to collect feedback on your product or service. Use surveys, focus groups, or chats to gather their honest opinions. Look out for recurring comments that signal areas needing improvement. Acting on this feedback not only enhances your offering but also fosters stronger customer loyalty by showing you value their input.

Feedback is something you should be doing all the time... and note.. it does not have to be requested. Gather online reviews of your product, use a heatmap on your software screens. there are several ways to gather and analyze the data.. But what you want to look for is a pattern.. x number of individuals do not like how we do this in our product.. Go after the low lying fruit, short wins to start. Measure your ROI. Develop a product roadmap, and execute.

Eine Meta Perspektive auf die Feedback-Kultur gibt Aufschluss auf die Kritikf?higkeit und auch die Anpassungsf?higkeit von Gründern. Natürlich hilft die direkte Einbindung von Kundenfeedback unmittelbar der Iteration von Product-Market Fit und der L?sung der wahren Kundenprobleme. Die indirekte Betrachtung, wie mit Feedback umgegangen wird, hilft darüberhinaus insbesondere Investoren und frühphasigen Partnern (auch frühen Mitarbeitern) bei der Einsch?tzung der Unternehmer im Hinblick auf die F?higkeit, sich auf Ver?nderungen einzustellen, und auch kritische Feedbacks anzunehmen und angemessen (auch kommunikativ) darauf zu reagieren.

The bedrock of running a business is listening to customers. - Direct calls & customer visits. - Speaking to team members and gathering their insight. - Speaking to suppliers who come in to contact the customer - Monitoring the customer socials and news

To enhance your product or service, actively seek and analyze customer feedback through surveys, focus groups, and direct interactions. Prioritize changes based on recurring themes in the feedback, demonstrating responsiveness to customer needs. Show appreciation for their input by communicating how it influenced improvements. Make feedback collection an ongoing process to stay aligned with customer expectations and foster brand loyalty. This approach not only leads to a better product but also strengthens customer relationships, enhancing brand perception and loyalty.

If I have to optimize pricing , I will offer a splitted payment most especially if I see my customer has left the website with an empty basket . The goal is to remain attractive without reducing your inner value . You can also offer additional features, as Money back Guarantee.

In our MBA program, we had a whole section just about pricing. It taught us how important pricing is for any business. It's not just about picking a number; it's about understanding value, making money, and staying ahead of competitors. Pricing decisions can really make or break a company.

Truthfully if you are having to review your pricing you have not positioned your products or services well enough as a niche. To genuinely ensure you are not shooting yourself in the foot, it's vital to first carry out full analytics on the history of sales. During this process, key information will become obvious, particularly if solid Analytics work is done including the use of AI over the data set. Once this information is available, for example for some reason Swedish revenue is dropping on some product lines, before adapting the price, we need to take a deep dive into that local market and cover a full competitive analysis and local environmental analysis to see what's changed. It's also sometimes as simple as the paywall isn't up!

Strategically calibrate pricing to align with prevailing market dynamics while conducting a comprehensive analysis of competitors' actions and strategies within the market landscape. By meticulously assessing market trends, demand fluctuations, and consumer behaviors, we can optimize pricing structures to remain competitive and maximize profitability. This involves a multifaceted approach that integrates real-time market data, competitor pricing strategies, and customer feedback to inform our pricing decisions

Pricing can significantly impact both sales volume and profitability, making it a crucial aspect of any business strategy. Start by conducting thorough market research to understand pricing trends within your industry and competitive landscape. What are similar products or services priced at, and how does your offering compare in terms of value?

Start by refreshing your branding to ensure it accurately reflects your value proposition and resonates with your target audience. This could involve updating your logo, redesigning your website, or refining your messaging to better communicate the benefits of your product or service. Once you have a solid foundation in place, focus on developing compelling content that engages and informs your target audience. This could include blog posts, social media updates, videos, or infographics that highlight the unique features and benefits of your offering.

Feel free to experiment with your marketing strategies—you don’t need to break the bank to find out what works best for you. Try mixing things up with different channels and see how your audience responds. A good tip is to take a peek at what your competitors or similar brands are doing. Which channels are they using? What seems to be working for them? Use that as a starting point, then tweak it not just to match their efforts but actually outdo them. This way, you can set your brand apart while staying budget-friendly.

Take a close look at your marketing strategy and find ways to enhance it. Update your advertising, leverage social media, and create compelling content that speaks to your audience. Emphasize the unique advantages of your product to stand out in the market.

To rejuvenate your products or services, revamp your marketing by analyzing and identifying improvement areas within your current strategy. Refresh advertising campaigns, enhance social media engagement, and develop valuable content that showcases the unique benefits of your offering. Ensure your marketing clearly communicates what sets your product apart, focusing on its distinctive features and customer benefits. Regularly monitor the performance of your marketing initiatives, using insights to make necessary adjustments. Effective marketing not only increases visibility but also attracts new customers and revitalizes interest in your offerings.

We are in the age of modern social media where consumers are your best marketeers. TikTok has proven through its store that your best salespeople are the persons that your clients feel most connected to. For example, when a Housewife who has children is explaining how the product helps her children do better in some activity, her followers trust her more than any company. It's important we embrace the power of people being able to benefit from the sales our products and services easily through simple tools provided to them along with frictionless paywalls. I would recommend using new platforms like this and being comfortable with the share on profits taken. Ultimately the people using your product are your brand.

Stay ahead of the curve by embracing technology. Integrate e-commerce, use data analytics to understand your customers, and automate tasks for efficiency. Keep an eye on emerging tech trends to stay competitive in your industry.

Utilizing technology is key to scaling your business and enhancing the customer experience. Integrate e-commerce to broaden your market reach, employ data analytics for customer insights, and use automation to streamline operations. Stay informed about industry tech trends and thoughtfully integrate new technologies that align with your business goals. Prioritize innovations that improve the customer experience, such as personalized marketing or innovative product features. Strategic adoption of technology not only increases efficiency but also sets your business apart in a competitive landscape.

Technology only wins in a organization if it does not contain a Tax. Does the implementation of a new technology provide a ROI. It needs to be measurable. If we implement X, it will cost us Y, but we can increase/add on Z to our revenue over Q number of years. Your return can be measured in a lot of values. Not just $$, but speed, learning curve, automation enhancement. A lot of talk about LLM's, and they are a sweet technology.. but what does it gain us if we implement it in our product.

Utilizing technology is imperative in today's landscape; staying adaptable to change is essential to remain competitive. Leveraging data to your advantage and making informed decisions aligned with your business needs are crucial elements in navigating the modern market.

Expanding your reach is essential for reaching new customers and growing your business. Start by exploring new distribution channels that align with your target audience and offer opportunities for increased visibility and exposure. This could involve partnering with retailers, distributors, or online marketplaces to reach customers in new geographic regions or demographics.

Broaden your horizons by expanding your market reach. Explore new markets, diversify distribution channels, and form strategic partnerships. By increasing your presence, you can attract a larger audience and boost revenue. Just ensure expansion aligns with your business goals.

Innovate, it's vital for an organization to be continuously innovating, particularly in today's new digital world. Where do you see your industry moving, how can your existing organisation be on the right side of this disruption. Which team members within the company can help you put together this future, who has that entrepreneural spirit from all levels and all departments. Ideally a small focused team. Once you have hacked a new approach the challenge comes to explain it to everyone and get enough buy in. You will need an inspirational leader here to explain it all in simple terms, the vision and inspire a passion in everyone to build this new value for everyone. Innovation is vital to survive, it's your only key to ongoing success.

In today's dynamic environment, expansion knows no bounds; having the right people and technology is key. With advancements like AI, the possibilities are limitless. For instance, language barriers have become thinner with the availability of large language models, making work significantly easier.

Sometimes all that one needs is to refresh the offering, by doing a number of minor tweaks. This can cover a number of facets including subtle rebranding, price adjustment, different positioning and perceived improvement and value for money. These are usually a short term measures which buy you time until you carry out major surgery in the area or areas that you determine are root causes of the problem of lack of sales. Actually, if the tweaks prove successful then the surgery can actually be a bolder emphasis on the minor adjustments, which can also be considered as reasonably pain free experiments

Sales is all about creating an urgency to buy for individuals whom we consider to be our TG. Carpet Bombing or Everyone is my customer is like shooting in the dark expecting something to work. As Entrepreneurs we should always remember that everything is finite and we should use it prudently. For Creating Urgency when you really need a sales boost.. Price is a low hanging fruit followed by some Value Add on for the existing offering.

To boost your service or product, analyze feedback, refine offerings, develop a strong marketing strategy, offer promotions, explore partnerships, and innovate continuously. Customer feedback is crucial; we once fixed an issue highlighted by a customer, refining our product significantly. Listening to customers is invaluable for growth.

Create urgency and incentivize purchases by offering time-limited discounts, promotions, or special deals Referral Programs by incentivizing existing customers to refer friends and family to quickly expand customer base Organize Social Media Contests/Giveaways & launch paid campaigns to increase engagement around your products & services Send out a series of targeted and compelling email campaigns to your subscriber list promoting your offerings, special deals, or new arrivals Collaborations with Influencers in your industry or niche to leverage their audience. Launch a New Product/Service with a strong marketing campaign highlighting its unique features, value proposition with introductory discounts Optimize Landing Pages of your website

Revitalizing your products or services starts with a deep dive into customer feedback and suggestions. Their insights hold the key to unlocking growth opportunities. Conduct in-depth interviews and surveys to understand evolving customer needs, pain points, and expectations. Analyze this qualitative data to uncover emerging market trends and whitespace. Leverage these customer-centric insights to ideate innovative solutions that better serve your existing client base. Perhaps it's an additional feature, a complementary offering, or even a transformative new product - the focus should be on delivering exceptional value.