Business is all about selling a product. The product varies, but the overall goal of any business is to get as many people to be interested in and buying into your product as possible. Above this, the goal is to turn as large of a profit as is possible. There is no other motive. This means that you have to know how to get what you want out of consumers. The question is how?
Marketing is full of complex algorithms and it’s impossible to know what your target audience wants without having good software that is able to compute the complexities hidden in the data. Besides having computers do all the work for you, there are ways to get more from your target audience. Here’s how:
Find Ways to Upsell That Don’t Cause Questions
It’s a fine line to walk to find ways to make more money and get more out of your customers as a business. People don’t like to spend money on things. If you continue to raise prices on a product that people are already paying for, it causes anger and discontentment, but if you find ways to upsell that are a little less in your face, people won’t ask as many questions.
For example, gaming companies do it all the time. You offer a service like a game for a set rate. They have a certain amount of levels and if the client wants more levels, they have to pay a price for it. It makes sense to people and they don’t ask why you just went and raised the price on a service they didn’t have to pay that much for 5 years ago.
When people see that things are being given away, they create an instant bond with a product and company. When you’re generous and do promotional sales or you offer up sample product, people will often pay more for more of your products just for the plain fact that you gave them something without making them pay for it off the bat.
There is a principle of “give and you shall receive” that is commonly believed in life. If you practice this as a business in all aspects of operation, you just might see the customers and cash flow coming in because of that simple principle.
There’s a fine line between keeping contact with a customer and creating a relationship and flat out annoying them. If you learn to walk the line properly this will be your greatest asset in business. Getting new customers is great, but it’s about building relationships and keeping them in your corner that makes business profitable for you in the end.
Originally posted on June 22, 2016 @ 5:11 pm