Not trying to understand Your Client, Their Needs, And Desires
This is really very important part of business which is not taken seriously specially by SMEs. I have seen in my experience most of the business people are pushing their products by advertising and other tactical approaches. However the basic and first things every business person has to do is to understand the real need of clients and also you need to keep on searching for the different permutation for satisfy that needs. This will create pull of clients whose needs you going to satisfying.
Being Tactical not Strategic
Now a days Strategy is word which is commonly used without understanding the real implication. I can see that strategy word is use instead of tactics. Let me give you an example if I ask company to increase sales and sales manager responded we need to get our sales person called twice as much as we are doing now. I will challenge you to think what we could do so that first time we try and that would really get attention and that is strategy which requires planning and thinking for the longer period of time. Biggest mistake companies are doing when they are too tactical. How most of people run the business is you give your sales people rate card, price list , and tell them go find the customers. Very little plan going on lot of things left on to sales rep. and individual and not a lot of planning goes on there. What I want to really think is how you plan and how you strategies. Which makes the real difference in the your business. To Attend free seminar on Strategic Management Please mail us on sanjay@nucleusconsultant.in
Not Having A Marketing Or Sales System
When we say system it is not only technological system or software. Systems means step by step designed processed which is followed by every one in the company. In SMEs when we meet Sales and Marketing staff as a part of Business Consulting assignment every one has their own ways of doing the same. Every one is running their own system based on moods and feeling and which actually don’t help you reach where you wanted. A proper systems not only help you to increase the sales but also to train newly joined employee and also to have proper analysis of data so that we can find out the exact gap of under performance. To Attend free seminar on “Creating Excellent Sales System” Please mail us on sanjay@nucleusconsultant.in
Running Informative Advertising
For me Advertisement is equal to Salesmanship. Many of Advertisement I observe now a days run under the heading of “Branding purpose” which I call “EGO PIECE” and in reality it fetches very minimal effect on your business. Even I have marked that there are very few company’s which analyzed the results generated through advertisement. As a business person we need to understand that there is a fixed cost of Advertisement and it is up to us how we can get best out of that. We need to ask ourselves after this advertisement how many leads are we going to generate? For that in every advertisement you need to have any type of “call on action”.
Not Uniquely Differentiating Your Business
In order to stand above the crowded marketplace, you or your company must offer your prospect or client a unique and distinctive benefit or advantage above and beyond that of your competitor. If you don’t, people have no motivation to do business with you instead of your competition. You must identify and understand what it is you or your company do or can start doing for your clients that provide them with a result or an advantage superior to the competition. This is called the Unique Selling Proposition (USP). When you identify what that distinct advantage is, you then must integrate it into all your promotional, marketing, advertising and selling operations. This includes what you or your salespeople do and say, plus all the collateral material you use, the brochures, the sales letters, advertising — everything. You don’t just want to say it, you want to constantly demonstrate it. You want to live it. That means that whatever your USP stands for, you do at all times.
Not understanding client’s Problem and Educating them to solve it
Most of business is just on focusing generating more profit and in that process “Customer is our God” stay only in conceptual level. In reality while being in business it is our moral responsibility to guide and educate our customer which help them solve the problem. Many of business people are having sense of insecurity for educating customer which helps you to get business right now but in reality it actually hampers long term business relationship. In this competitive world and world of technology there is no information which you can control and hence it is who will the first to educate their clients wins in longer term.
Making it hard to do the Business with you
While doing business with any one everyone has a one question back of the mind which is how can I trust you? What if anything will go wrong? Everyone of us ask the same question if not upfront but in our mind. Which is one of the biggest hurdle every business person needs to cross to convert prospect into Client. However, there are very few business people who think on this. If you as business person take the whole responsibility for the performance of your product/services it is very easy for any of client to say yes for doing business with your company. And if you are not able to guarantee the same then you need to rethink of product/services you are providing and rather better to change the same.
Not Telling Your Clients The “Reason Why”
Many of times I ask Business people why should I buy your product/services then almost 70% of business people has the same answer i.e. We have very good quality. In this there is no specification of what Quality means and other thing question client is asking internally that why should I believe you that you have good quality. There are very few organization I have visited where they have articulated the exact reasons which rivet people to do business with you.
Targeting every one as market.
Focus gives not only power but results. Deciding target audience for your product and services helps you to give direction to your all marketing and sales efforts which will generate result otherwise there will be haphazard efforts and there will be very small results and which create frustration. Target market also helps to utilized our resources very effectively. Target market helps you to understand the competition in to your niche.
Not Capturing Prospect’s Contact Information.
When we get into any of organization for business consulting we found a common error in every SMEs that they don’t bother to capture detail of clients and if they might capture it they haven’t stored it well which can be use in proper manner. In my earlier blog I have written that one of the way to increase business is to resale the existing clients. However, if we do not have a contact information then there is no possibility to recreate this business.
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