If you have discovered your passion for your business and know what you do best, you can build on this to add more value to your products and services. If you know your products and services will deliver results for your customers then highlight these benefits in your marketing to develop business growth and increase your market share in your business arena.
Planning business growth and setting sales targets to increase your profits is naturally orientated around improving one or more of the following goals:
- Increase your lead generation efforts to get more enquiries
- Increase your conversion rate from your enquiries to get more customers
- Increase your number of transactions per customer to get more sales
- Increase your average sale per transaction to get more revenue
- Increase your gross margin to get more profit
Your marketing strategies will outline how you plan to implement these goals and include targets and milestones in order to measure the success of your strategies.
The prospects that see these value added benefits and appreciate your motives for implementing them will become great customers because they will embrace the passion within your business. Other prospects that fail to see this will only be interested in discounted deals anyway, and not help you in your marketing strategies.
If your motives to add value and results are clearly visible, your products and services will appeal to a wider market audience. This will include larger businesses and businesses outside of your normal demographics. With a larger audience, your products will be in demand and your plans to increase margins will become easier to implement.
Adding value and results will also bring substance behind your marketing. The reasons for any offer or campaign will now be based on your motives to add value and deliver results to your customers, not to increase profit. As a consequence, your customers will be attracted to your offers and your marketing strategies will stand a higher chance of success.
How to add value and results…
Look at your current portfolio of products and services and assess each one by the following:
- how valuable are they seen by your customers?
- how effective are they in delivering the expected results?
- how closely do they relate to your passion?
- what could you give more to increase value and results?
- what could you share more to increase value and results?
- how could you serve more to increase value and results?
- What investment to increase value and results would you consider?
If your motives behind how you plan to implement your business growth goals are unclear, you risk pushing away your customers with aggressive sales techniques and unattractive prices. If your motives are simply to increase profit, your customers will quickly see through this and walk away.
Whatever the price of your product or service, your customers will only want to buy it if they know it will add value and deliver results to their business.