There are times when your product isn’t selling as you have expected to! Assuming you haven’t created something with a high degree of artificial intelligence, you should decide that your product won’t sell itself.
As you know, you will need to get to work on your marketing strategy to get your product out into the world and into the hands of the consumer. However, if your product isn’t selling well as you thought it would, despite your best efforts, you may need to ask yourself the following five questions.
What you will read in this article:
1. Am I Targeting The Right Demographic?
Don’t waste your time targeting a specific age group or gender if the product is designed to be used by a certain part of the consumer market.
As part of your branding strategy, you need to know who you are targeting, and how to get the word out to those people.
This includes advertising in particular online and offline media, using keywords and slogans that appeal to specific groups and checking out your competition to see who they are targeting.
2. Is My Product Priced Effectively?
It may be that your product is overpriced, especially when compared to similar items currently for sale in the marketplace. In which case, you need to do your research online and price your product competitively.
On the other hand, you may be underselling your product. While this might attract more buyers, it may have the opposite effect.
If something is cheap, it lessens its value, especially in the eyes of the customer. You should also use a service such as Trade Vitality, who will check that resellers of your product aren’t contravening the pricing policies you originally put in place.
3. Does My Product Have A Place In The Marketplace?
This is something you should have thought about before production began. If your product is going into an oversaturated marketplace, or the consumers aren’t sure as to how your product will impact their lives, you are going to struggle when trying to make sales.
There need to be obvious benefits to the customer, which includes having advantages over any similar products that are currently clogging up space on store shelves and online retailers.
4. Is My Product Up To Scratch?
In short, you don’t want to sell anything that is flawed.
Today’s customers have a lot of choice in what to buy, and if your product doesn’t cut it for them in terms of quality, you aren’t going to sell very many. Remember too, that word of mouth counts for a lot.
If you are releasing a shoddy product, people are going to find out about it, especially on social media.
It’s your responsibility to make a product that is safe and practical; otherwise, you will experience a loss in sales, as well as being answerable to savvy customers aware of their legal rights.
5. Am I Passionate About My Product?
Unfortunately, your lack of passion will show. In both your sales tactics and in the finished result, if you don’t display pride in your product, you aren’t going to succeed. This is also true if your only goal is to make money, rather than producing something that is high quality and of high demand.
You will make a few sales, but you need to have the drive to see your business thrive. Having passion will make you strive to get the sales you want because you are determined that what you are offering is something that will genuinely make an impact.
If you don’t feel this passion, you may need to go back to the drawing board and come up with an idea that you and others will be genuinely interested in.
The Bottom Line Of Why Your Product Isn’t Selling Itself!
If any of this article related to you, we hope you can make a turnaround in sales by answering the questions above.
There may be a simple solution, so reflect on what you are doing going forward.