Understand What Your Customers Want And They Will Open Their Wallets
By Business Desk
Tuesday, October 11, 2016.
The ultimate goal of any business owner is to increase sales in their company. But is this easier said than done? After all, take a look at the economy right now, and there are plenty of businesses struggling to stay afloat. Either due to a lull in demand or because they never received the interest they needed from the market, the business fails. You don’t want that to be the future situation of your company, so let’s look into how you can directly impact sales. To do this, we just need to answer one question. What do customers want?
They Want To Be Reminded
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Don’t forget that customers are quite fickle. They’ll move on quickly from one business to another, and very few will stay loyal for long. Look at it this way. Your favourite store is selling a product you want. But, another shop is selling the exact same product at a lower price. Where do you buy? While some people will stick with the store they know, others will opt for the cheaper deal. That’s what you’re up against, a constant shift in buying behaviour. To accommodate for this, you must make sure that your business is always on the minds of your customers. One way to do this is through proactive marketing. With proactive marketing such as mailing lists, you can remind customers your business exists. Sometimes a reminder is all they need to encourage them to shop, and you’ll see an increase in sales.
They Want To Be Wooed
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Of course, in other cases, it’s not enough to just wave at the customer. You need to give them something they can’t refuse. One thing customers love that they can’t say no to is a good sale. You might think that a sale is just a chance for customers to lose money. But that’s not true at all. In fact, businesses hardly lose any money through a typical sale. The trick is to cut the prices of products that aren’t selling anyway. By doing this, you’re not losing any profits at all. Here’s the better part. Having a sale also promotes goods that aren’t included in the deals. You see? Everything sells, the customers feel like they are being rewarded and you make massive profits!
They Want Options
You need to make sure that you are giving customers as many options as possible. It’s not just about what they buy, it’s how they buy. For instance, a lot of businesses that sell expensive goods offer financing options. The product can be bought through payments rather than one purchase. Other businesses accept credit cards to ensure that the biggest number of customers can buy from their store. These are the type of options that customers want and that you need to offer.
They Want To Always Be Right
A simple piece of advice this one, and yet crucially important. You must always remember that the customer is right. They get what they want when they want, how they want. If they are not happy with the goods you’re offering, make sure that refunds or replacements are both on the table. Do this, and you will earn their loyalty even in a competitive market.