Dear Entrepreneur,
Starting or running a business may seem more challenging than ever given the oversaturated and intensely competitive market. Therefore, in order to properly position their products in the market, entrepreneurs need to arm themselves with a critical understanding of people, marketing principles, and communication. Here are 5 suggestions for answering the crucial question of why a customer should choose to do business with you as opposed to your competitors.
Unique Selling Point
The world would be boring if everything was a clone so why should your business. People are looking for uniqueness and this something you can use to your advantage so that you stand out from the crowd. Whilst selling your product to a potential customer, talk about your uniqueness. This factor could be the features of the product or even the quality. Either way, you need to identify a way for your product or service delivers something special, otherwise, your customers can easily justify buying from your competitors
Trust
In every relationship with your customers, you need to build trust. Without trust, there is no certainty for customers and this increases the likelihood of customers shopping elsewhere. Therefore whilst talking to a potential customer its essential you establish why they should trust you so that they have a strong incentive to buy from you and become future loyal customers.
Price
Yes, pricing matters, but you don’t always have to offer the lowest prices in the market to attract people. For instance, why do people purchase a N30 million Range Rover when there are more useful alternatives that cost less? This is because there are many emotional considerations that influence and persuade us that these goods or services are worthwhile of the greater price. You can charge more because of your quality and unique selling proposition, but you must be able to convince clients of this. Your clients can then rationalise making a purchase by displaying your unique selling proposition or the value you have to give.
Quality
It’s true that we all like receiving high-quality services or goods since they reassure us that they will perform as promised. Quality is crucial from a business owner’s perspective, and if you invest enough time in creating your product, it will sell itself. This is because if your consumers have a good experience, they will probably tell their friends and family about and because we trust our friends and family more than anyone else, this helps create word of mouth marketing which is one of the best strategies to attract new clients. Its therefore important that you emphasise the quality of your product or service when selling to a potential customer.
Easy to access
Informing a potential client about the ease of accessing your product is super important. As a business owner you need to consider how you can make your offering easily accessible for your customers. They are more inclined to buy from you and keep doing business with you in the future if they experience less discomfort or friction when obtaining your good or service.
Parting Thoughts
Marketing is essentially the art and science of getting and keeping profitable and valuable customers, and it’s the hub of every business. That necessitates that you, as a business owner must fully comprehend the issues and worries of your target audience and be able to articulate how you can assist them in resolving those issues.
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