Two Things You Can Do Today To Overpower Your Nearest Competition
Sharadd Kuumar
Solving Profitability Problems of Manufacturing Companies | Virtual CFO Services | Director | Author
Well with so much of competition and ever evolving technology, there is so much emphasis on product innovation as well as reducing cost in the business. Phew! It could be quite daunting. Then you being the head of the company or product development manager, how you do this balancing act. Below are some of the things you can do in your business:
Make The Things Simple: “What the heck” you must be in thinking your mind. Let me explain. When I say keep things simple. I want you to look at the end benefits of the product. What is the biggest problem it solves? Once you are clear on this, you can take out all the fancy stuff which your product has and only focus on the problem it intends to solve. This way you can reduce product cost multiple times and be way –ahead of the competition.
Specify Your Customer: You should clearly define your customer. It could be in terms of their age, location, what are the hot buttons and other relevant parameters. Too many marketing dollars are spent on the promotion, branding without keeping in mind the targeted customers. Once you reach out to them, make your offer don’t be shy
Show Business Coaches and Online Solopreneurs how to build a business without trying to sell anything - turning relationships into resources.
8 年With all the competition out there what are the majority of businesses doing to make themselves different or unique? Especially with all the technology that is available today there really is no excuse for it and if worse comes to worse you can even physically ask your clients why they buy from you instead of your completion. That answer may actually surprise you. It isn't always about price but has a lot more to do with actual service, you know that non existent thing today in most businesses. It is amazing what can happen. try it I think you'll be pleasantly surprised. And lastly are you dealing with your ideal customers or are you trying to be everything to everyone? If that's the case then you have no one for a client. You can't be everything to every one so don't even try. Follow Sharad's advice and clearly define your ideal client.
Show Business Coaches and Online Solopreneurs how to build a business without trying to sell anything - turning relationships into resources.
8 年How true so many businesses today are "I" specialist wanting to talk about themselves by using a lot of useless jargon like " We have the lowest prices" "We give good service." " We have convenient hours." "We have been around since 1843" Who cares about any of that? The biggest thing your prospects want to know is "Can you solve my problem? " All the rest makes you just another "me too" business where all they have to judge you by is price. Answer their biggest question "What's In It For Me - WIIFM" that is what is going to bring you business and you can even charge more for your product or service. Solve the prospects problem don't offer them another bunch of gobbly goop. That's what they really want.