Do you know that you can raise the price list of your products and increase margins above every other company or competitors around you without loosing your customers? here are some strategy of making the process a lot more seamless.
Packaging
The difference between a resturant and mama put is packaging, the word packaging in a general sence has to do with the finishing or final touch of your product. This in a sence is involve with the science and art of all the available forces, techniques of executing a packaging plan as effective as possible. Are you a strategic packager? packaging is another way of been innovative, that is bringing what people have done before in another format.
Packaging adds value to a particular product, for an example, the first person that start to sell water started with nylon, tie the mouth and sell it N1 (one naira), it was packaging that brought about sachet water, which also resulted in an increment of the same water from N1 (one naira) to N5 (five naira). Gradually, it developed into bottle water and the price changes to N50 (fifty naira) today you can see how CWAY has eventually turn the process into a system were by a keg of water is now attach with a refrigerator which makes it more effective use in the offices. Why not think of how you can bit your competitor with a simple packaging?.
Produce Quality Products
It’s important to always note this fact that your product speaks louder than you can possibely do in your advertisement. When your products are of good standard, it will only require one or two persons to use the product and testify the quality, before you know it, your products has climbed to be the raining brand. At this point you may deciede to increase your price. Before then you have succeeded in making your customers have the taste of your product. While some customers focus on the price alone, most others will be giving considerations to the balance of quality and price. Therefore leaving your brand for another will become problem.
Guarantee Your Products
We live in a time were it becomes had to believe the mere sayings of a manufacturer, how do you differentiate yourself? once you give the privilege of returning a particular product bought from you, when it becomes faulty under the guarantee period, people will always have that confidence of buying your product.
Pay Constant Attention To Customer’s Needs
No matter the quality your products are, if you are not meeting up with customer’s demand, they place an order with you requesting for product, and finds out that the product are not available the first time, call the second time meet the same excuse, the person will find it difficult to come back the third time. This can reduce your customer which could eventually affects your production. The more the demand from the customers, the faster the production will be.
Value Your Customers
Your altitude towards your customers matters alot, how do you attend to your customers? when they lay complain how do you respond, harsly? always take to note that your customers are your priority. When ever they complain, maybe on price increment always endeavour to explain why they have to bear the sudden inflation in prices. For an instance, when fuel skyrocket the price of many thins will have to take the effect due to dramatic impact on their cost. Customers will easily understand situation around the rising of price, if only you mannerly and respectfully explain to them.
Introducing Premium (bonanza) Prices
At a certain time of the year it’s always important that you introduce a kind of privilege to your customers by giving them some discount. This could be done by setting a condition that, any customer buying 5 pieces of a particular product should be granted a privilege of having one free, or you can decide to reduce the price of every product with some token amount, this will motivate your customers to patronizing you more than ever before. Some who have not be coming to your enterprise may hear the promotion existing in your firm and start rushing to buy one or two things from you in other to enjoy the promo. This also increases customers demand, most especially, if the condition lies on giving one free product to any customer who buy 5 pieces of a particular goods.
Re-brand Business Location
The area you cite your business has a great dealings with the business itself, it’s always advisable to establish your business in a busy area were people can always work in and buy what ever they want. If your business is in a rural or remote area, the tendency of you having customers will be minimal, why because the accessibility of the business location is only restricted to the people in the vicinity.
Generally, it’s my submission that to survive in any business you must strengthen your business connections and network, and most importantly you must always pray for divine intervention. As noted above, behind every successful business there always exist planning ahead.
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