Enhance Your Product Or Service And Increase Sales

by admin on May 19, 2010

Here’s an exercise that you should go through periodically to evaluate ways you can make your product or service better, and thereby either increase sales or extend the product life cycle.

Get out a piece of paper and answer the following questions.

#1    Write down not what your product or service is, but the need or desire of your target market that you have perceived.

#2    Brainstorm other ways to fulfill that need in ways other than through the use of your current product or service.

#3    List all the obvious and not-so-obvious features of your product or service.

#4    Enhance your product or service with alternative ways to fulfill your customer’s needs based on the ways you brainstormed in #2.

#5    Identify your USA versus your competitor’s and any other alternative products or services. Don’t limit yourself to the list I’m about to give you, but here are some ways you can begin. These are reasons customers typically patronize a certain business.

Low price
Top quality
Convenient location
Friendly employees
Knowledgeable employees
Nice business surroundings or environment
Fair credit or return policy
Good selection
Convenient hours

I want you to identify major sales advantages that you have over your competition.

#6    Create five different front and back-end upsell scenarios for each product and service you intend to offer. You can encompass one of these attributes in each sales scenario that you come up with:

Price discounts or cost savings
Value

Luxury item
Convenience
Grief reduction

Go through these six steps and you should come up with some ways to increase sales.

Here are some examples.

A dry cleaner on the front-end might offer some price discounts, while on the back-end they might sell a book of discount tickets that are good for each quarter.

A plumber might have a back-end of a maintenance agreement that would offer convenience and value.

A pool cleaning service might sell based on prestige of having a “Pool Boy” on staff.

#7    Determine how best to incorporate incentives for getting your prospects to buy. You want them to buy, buy now, and buy from you.

Giving away freebies
Discounts
Great guarantees
Offering credit
Offering great service

Have A Marketing Plan

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