Posts

, ,

Strategies to Keep Your Business One Step Ahead of the Competition

bims_8.10Every business owner wants his business to stay ahead of the competition. But if you want to remain successful, a lot of things should be done and most of them are not particularly easy.

Here are some strategies that you can use to keep your business one step ahead of the competition.

Know your competitors

Entrepreneurs can enjoy great benefits by keeping track of their competitors. While we urge you to spy on your competitors, we discourage you from duplicating their ideas. Your goal is to see what they are offering and what their unique selling point is. Figure out a way to make it work for your business and use this knowledge to your advantage. If you want to stay ahead of the competition, you need to do it better than they did.

Build a relationship with your customers

You and your competitors will be competing for the same customers. Whoever wins will receive a bigger segment of the market.

It is easier to keep a customer than it is to acquire a new one. All it takes is a better offer from a competitor or a single negative experience. Show your customers how much you value them by interacting with them through social media and improving customer service.

Never stop innovating

In order to succeed in today’s quickly developing world, you need to change more often and sooner than you think. What might be working for you today might not be effective in the future.

Innovation is the key to sustaining your company. If you want to satisfy your target audience then you need to give them what they want. But most of the time, their wants and needs change. You need to be able to keep up with the demands of the people. Follow consumer trends and try to keep up with the developments in your sector.

/by
, ,

How to Motivate Customers to Buy Your Product

BIMS_8.4.15If you have social media buttons on your product page, we’re guessing that you added them because you wanted people to share your products through different social channels. After all, more shares mean more publicity, and more publicity can lead to more sales. But you also have to understand that people don’t just buy things they see online. They need a reason to visit your store or website and buy your products.

Here are 3 simple ways to motivate customers to want to purchase from you rather than your competitor.

Understand your customers

To increase sales, you have to understand the psychology behind how people make their buying decision. It would be extremely difficult for you to motivate them to buy if you don’t know their wants and needs.

Identify your target market and conduct a survey to help you find out the types of products they’re interested in or if your current products meet their expectations and some products suggestions that they would like to see in you sell in the future.

Feel good products

During the times of economic stress, the sales of non-essential items decrease significantly except for one: lipstick.

While people are looking for ways to put food on the table, lipstick sales were still skyrocketing. Why? For women, these tubes of colored wax are more than just cosmetics. When they’re feeling blue, lipstick provides confidence and represents happiness, hope and opportunity. If you think of it that way, then $8 is just a small price to pay as compared to the benefits they can get out of it.

Sell the benefits

You have probably heard of this a dozen of times before. When creating a product, be sure that it solves a problem. Most customers buy a product to solve a specific problem.

After a long day at work, this man found out that his dog chewed off his favorite pair of shoes. Now, he’s looking to buy a new pair of shoes. Now that you have a potential customer, the best thing you can do is to promote the benefits of your product. Don’t just stop at describing the product; provide them with additional information such as the price, features, awards etc.

/by