Every business exists to sell products and services. Without sales, all businesses will starve and eventually die. That is why it is important to find the reason why you are suffering from low sales performance and why customers are not buying your services or products.
In order for you to succeed in business, you have to find customers who will happily give you money in exchange for what you are selling.
Thousands of businesses around the world close down because they could not generate enough sales. Although there are many reasons why businesses fail, here we are going to shed light on three of the most critical factors on why customers are not buying your products or services.
You are definitely going to find something in this article that will change how you sell your products and services such that it will attract customers to your business.
Nobody is going to buy your stuff except they are hungry for it. Bottom line: People often buy things they need.
Many business people make the mistake of selling products that customers don’t really need. You are not going to get any sales if you are selling an item that people already have or don’t need
Many entrepreneurs give all their attention towards creating a great product without first establishing a market that has a need for the product they plan to sell.
Below are some reasons why customers may not need the services or product you are selling.
Competition: If there is a business already addressing the problems and the needs of your target customers; they are likely not going to buy from you. Except they are not fully satisfied with the product they are presently using.
However, if your services or product is cheap, safe, faster or more valuable than the ones they are presently using, they would consider yours.
Substitutes: If your customers already have a product or a service that can do the same thing as yours, they likely may not need yours.
The lesson here is straightforward and simple. Any product that doesn’t solve a pressing problem will be difficult to sell to customers. Sales usually happen because a customer needs a service or a product to solve their problems.
Everybody might be telling you how amazing and wonderful your products are but nobody is buying them. Some businesses still find it difficult to sell their product and services to enough customers. Even when there is a serious need for their products.
Why would this happen? Below are a couple of reasons :
Too expensive: Even when there is a need for your product, people are not going to purchase them if the price is too high. Price is a sensitive issue for most people. They are not going to buy from you if your price is too high.
Wrong market: Location is very important especially when it comes to setting up any business. You are in trouble if your business is surrounded by people who cannot afford the services and products you are selling. As a business person, you must target the people who need your product and have the money to pay for it.
Bad timing: If you don’t know much about the buying patterns and habit of your customers, you may be selling your products at the wrong time. If you are able to figure out when your customers need your products or service, you are going to get more sales.
No urgency, no sales: Have you ever seen ads that say: “Buy now at 50 percent discount. Offer valid for only 7 days”?
Procrastination is a fundamental part of our human nature. Even when people see an item or a product they like, they may not buy it and will prefer to wait for a later date.
The longer they wait, the lesser the chances of them purchasing or even remembering your product. If you are able to create an urgency to buy your products, your customers will have a solid reason to make a decision immediately.
Most people like to take advantage of a discount to get a product or service at a lower price. Everybody likes a good offer.
There are a couple of ways you can get more from the ‘hurry’ strategy.
New product lunch: If you have just introduced a new service or product to the market the ‘hurry’ strategy would work very well for you. Offing your products at a discount or for free for a couple of days will give customers a chance to try out your product. If it solves their problem and they like it, they will be more than willing to pay for it even after the promo has ended.
Most customers need to be motivated before they buy a service or a product. One of the most effective ways to create a strong desire for your product is to sell the results and the benefits. People are always interested in knowing what they are going to enjoy or get when they spend their money on your product.
Below are two effective ways to use ‘desire’ to sell more services and products.
Sell the benefits first: Customers are buys product with the notion of ‘What’s in it for me?”. Their focus is basically on how your product and services will serve them. They don’t care about the features or the name of your product. They are only interested in the results and benefits they are going to derive from it.
As a business owner, you need to learn how to sell the benefits of your services and products. Rather than telling your customers the specification of your product, show them how it is going to benefit them.
Be specific: Be specific about the results and benefits your product can deliver. You will be seen as credible if you are able to provide an idea of the value your customer will gain when they use your product. Always be specific about the benefits of your products. If your product saves time, tell them how much time it saves.
If you apply some of the tips you have learned in this article, you will start to notice positive changes in your business.