Too often, when a product isn’t selling the way it should companies that don’t know any better reel in their marketing dollars and wait to see how things shake out. What this generally leads to, however, is an even greater dip in sales. If a product isn’t selling the way it’s expected to, instead of cutting your marketing budget it’s time to examine the marketing strategy and message that’s being put forth to the prospects.
Let’s look at a few reasons a company’s product or service might not be selling, and how you can get your foot in the door by presenting yourself as an expert marketer:
- Consumers are not aware of the product or service. More often than not, if a product or service isn’t selling it’s the result of a poor advertising campaign. Evaluate why it’s not working. Is the product being marketed to the right audience? Is it using the right vehicle? Analyze the problem and present a logical solution.
- Consumers don’t understand the benefits of the product or service. Consumers buy products and services based on the benefits they provide. Price is a factor, of course, but if the benefits aren’t clearly stated, price goes out the window because the product just won’t matter to consumers. Create a list of the top three benefits the product or service offers. If the company is already enlisting those, then create a list of the “results” the benefits bring. Remember, there’s always another level you can take it to!
- Consumers don’t feel the product or service has perceived value. Consumers will not buy things that they perceive as having no value. If you see this as a problem, come up with an idea you can show the company that will clearly demonstrate the value of purchasing their product or service. It ties into the old marketing adage, “sell the sizzle, not the steak.”
- Consumers don’t see how a product or service fulfills a need. Does the product or service make a person’s life easier, save them time, or make them feel better? Does it satisfy a need? If this isn’t clearly stated then the marketing program falls flat. Analyze how the company is presenting the product. Does it make consumers guess, or does it educate them? Remember, a lot of smaller and mid-size companies wing it when it comes to marketing. They need YOU to tell them how to fix what’s broken!
- The product or service is not accessible to consumers. Okay, so maybe the company has a killer marketing campaign that’s hitting all the hot buttons. Yet still, the product doesn’t sell. What do you do? You analyze their distribution model. Consumers want ease in obtaining and using a product, and if it’s not accessible, then maybe a competitor’s is. Think about how you can make it better. Can it be put in a different location? Can it be migrated to an online offering? Evaluate the accessibility of the product or service and come up with a proposal on how to improve it.
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