Have you ever wonder after spending so much time marketing your product you are still not getting the desired increase in sales you would like for your business?
The truth is consumers have certain needs and they go through a thought process about the benefits and the perceived value of a product that will eventually persuade them to buy or reject. If your marketing is not meeting those requirements it is probably why your product is not selling as well.
In addition, most consumers are simply not only persuaded by the “price” tag, they are more visually stimulated by what a product can bring and do for them. That is the most important reason for purchasing.
If you are totally bewildered and having difficulty in selling your product after implementing so many marketing and promotional strategies you may want to consider the following reasons why consumers don’t buy from you.
1. Lack of Awareness!
Consumers cannot purchase products they are not aware of. If you are aggressively marketing, but consumers are unfamiliar about your product, it is time to evaluate why your marketing campaigns are not working and save your hard earned money.
Invest smartly from your allocated marketing budget as this will become a major component of most small businesses’ operating expenses.
Firstly ask, are you targeting the right demographics with your message? Is your message reaching a specific audience that would have a strong interest in your product?
It’s important to remember that the answer may not be more marketing as the problem could lie with where you are marketing at, and what marketing vehicles (print, internet, TV, radio, events and trade shows) you are using.
All marketing vehicles will have a specific concentration of a particular group of niche audiences ( age, gender, occupation, nationality and income level ). By talking to the publishers and promotional organisers of these marketing vehicles before you commit to advertising, you should be able to gain valuable insight into what type of medium is best suited for your product as you can narrow down the demographics of your targeted audience.
2. They don’t understand your product
Consumers don’t buy products solely based on price. This does not mean that they don’t factor in price, of course they do. However, the modern consumer will effectively buy based on the benefits your product brings to them.
If you asked your customers what the benefits of your product are, would they know? This is important, as it is an indication of whether the marketing messages are getting through to your target market.
Nobody knows the benefits of a particular product better than its maker or supplier. List the many benefits of your product and for maximum impact only use the top three benefits to capture the essence of what your product has to offer. If you use more three benefits, your marketing messages may become too cluttered and superficial to the consumer.
3. I don’t see value in your products
Consumers will not buy if they perceive your product as having no intrinsic value. Many marketers have tried using various clever and obscure messages in their marketing strategy. This does not create consumer interest or curiosity and may often lead to the rejection of the product you are trying to promote.
Most consumers these days are quite savvy and will constantly put a value to your product. You can use the benefits of your product to create a perceived value of quality, reliability and customer satisfaction. It is this perceived value that will eventually drive the sales of your product. If a customer cannot see value they will simply pass by your product without any hesitation.
Again, many companies make mistakes in focusing their marketing on price, and they think price means price. In reality, value can be a non-monetary term, it could be your products are designed for specific event, or for a specific market or location. You have to create your value proposition in your marketing campaigns.
4. Customers do not see how your product meets their needs.
What are their needs? Again, this can be a diverse reason: It could be convenience, for instance, fast food reduce their time in cooking, some databases can assist clients reducing their time in leads generations. Or, this can have “feel-good” factor, by having your product, they can increase their self-esteem or maybe social status?
The needs may not be obvious and can be a moment of awareness. For instance, I was at Staples last week, suddenly, I saw a storage box for hanging-folders, I needed something to organize my folders ‘” and they include 9 folders in the storage box. Or, it could be a report I really need as part of my project, so that created an instant need for your products.
5. Customers can’t buy your products
Consumers cannot buy what is not available to them. If they hear about your product but it is not accessible, then they will just go somewhere else.
Never assume that customers will try hard to find where your products are, that only happens in a very few cases, majority of customers will simply switch to another customer.
It is the same for check-out and “buying experience” as well. Recently, I wanted to buy some sun protection products on website, but the check-out process was not very simple, after two attempts, I had just given up.
One secret why companies such as Amazon and Best Buy are so successful is their check out process ‘” not only it is very easy to use and navigate, they also make the check-out as the best opportunity to create cross-buying opportunities.