Category: Business Blog

You came up with a great product idea, started your own company and before you knew it, you were making loads of sales. If you’re going to capitalise on that success, you need to start expanding your product lines. Your customers are going to get bored if you don’t. But so many businesses get to this point and then struggle to move forward. It’s so frustrating if you create a new product and it just doesn’t sell. If your first product was so great, what went wrong with the second one?

You Missed What Was Great The First Time

When you’re trying to create a new product, you want to emulate what people loved about your other products. But if you get it wrong and you misunderstand what was so great the first time around, you’ll be going at it from the wrong angle. What you need to be doing is looking at customer reviews and encouraging people to give you feedback. Then you’ll be able to identify what they love about your products and recreate it.

The Quality Is Bad

This is the biggest mistake that any business can make. You might think that you can increase your profit margins by cutting costs on the manufacturing but it’s always going to come back to bite you. Customers will always be put off by poor quality products so you need to make sure you’re using a good manufacturing company like Agentdraw to build your products for you. You’ll get better reviews and make more sales, meaning that you’ll make more money in the long run. Selling cheap, bad quality products might get you a few initial sales but it’s not the way to build a sustainable business.

It’s Already Been Done

Any product that’s going to sell well has to fulfil a need of some kind. But if somebody else is already doing it, why would customers buy your products and not theirs? The short answer is, they probably won’t. However, there are some exceptions to the rule and emulating another company can work sometimes. If you’re going to use an idea that somebody else is already selling, you need to make it different somehow. That could mean making it cheaper or adding extra features. Whatever you do, make sure customers have a reason to come to you instead of going elsewhere.

You Aren’t Spending Enough On Marketing

It’s easy to get complacent when you’ve found some success and think that you’ll make enough sales off the back of your existing customers when you release a new product. You will get some sales without having to do that much work but don’t make the mistake of thinking that you don’t need to spend as much on marketing as you did the first time around. You should still be focused on bringing in new customers instead of just relying on your existing ones to carry you.

Don’t give up on your new product just yet. You might need to have a bit of a rethink and make sure that you’re giving people what they want, and don’t get complacent when it comes to marketing.

It’s no secret that online shopping seems to be getting more popular every day. Most physical stores also inhabit an online space where their consumers can shop 24/7 from the comfort of their sofa, or on their commute. E-commerce is growing due to the convenience factor and the chance to grab something at a fraction of the cost. The appeal of reduced rent prices and fewer overheads also means that more startups and brands are taking their businesses online immediately, without ever having the need for a physical store.

However, thousands of consumers are still visiting the high street each week, to feel and see the products in real life, along with the enjoyment factor of a day out shopping with loved ones. It’s difficult to provide the friendly, face-to-face style of customer service when your brand is only available online. Therefore, it’s a smart idea to put your company in a pop-up store setting every so often. A pop-up store and retail environment will allow you to meet your consumers, gauge their real-life reactions to your items and prices, and give them a bit more of your personality, background, and brand identity. You’ll have the chance to increase your consumer audience, and bring in fresh traffic to your website; it’s an effective physical marketing tactic. The following are some ideas for those who want to test the waters and create a successful pop-up setting for their brand and customers alike.

Everything You Need To Make A Sale

Visitors to your pop-up will appreciate a clean environment that they can move around and navigate with ease. Therefore, you’ll need to ensure your space is spotless and you have clear and bold signage that’s easily spotted from across the store. You can utilise temporary signs that will give your shop and customers the information they need to navigate around the space. Make sure that you have adequate surface space, and your products and wares can be displayed so that people can engage and pick up or try on the items; over-cluttered environments will put people off, and they won’t hang around for very long.

Using merchant processing services from GB Payments will ensure that your patrons will be able to make card paymets with ease, and it won’t cost you a huge amount. Most people prefer to use their cards to pay nowadays, so it’s worth ensuring that they can do so, and aren’t put off purchases due to a cash-only environment.

Building Friendly Relationships

Obviously, you’ll want to encourage as many of your audience as possible to pop and visit your temporary store, so it’s worth giving them some special offers and deals for the limited time your there. Bargains will also encourage new consumers to walk in and invest in your business, and if they like what they buy; they’ll be sure to return in an online setting. Nobody enjoys a pushy sales team; however, chatting to customers as they browse and purchase your goods will give them a positive feeling regarding your brand.

Let them know why you’ve decided to hold a pop-up store and encourage them to visit your brand again in the future. You’ll be able to discuss your brand identity and give your patrons a sense of why you started your business, which will encourage your audience to invest even more.

If you’re running a business, then one area that you need to put a lot of your attention on, is the marketing. Marketing is your way of reaching out to the masses and give them a good reason to do business with you – it’s essentially what every business relies on as it’s their way of ensuring there are sales to be made. Without this, how will you expect people to know about what you’re selling? Every business has to market themselves, and there are many different ways of doing this, it’s all down to what works best for you, so the trial and error process is a must, as the deeper you delve, the more you will learn about your business while finding out what strategies work better than others.

Figuring out who your target audience is one of the first things you will need to do, because without knowing who they are, you won’t know who you’re supposed to be addressing, meaning you won’t know what kind of adverts to put out there to bring you what you need. So for example, if you’re a male clothing brand that makes clothes that follow the current trends, then your target audience will be focused towards young to matured males.

Here are a couple more must-have marketing tips to keep you ahead of the game.

Throw a launch party

One great way of getting you and your business seen by a bunch of influential people at the same time, is to throw a launch party and invite all of your most important guests. This could be customers, potential business partners, bloggers, and press. The more exposure, the better. You will also want to think about the presentation and layout as that is the first impression your products will get from your guests, so it has to be perfect. CMEX exhibition stands are custom built so that you can have full range over the design so it fits in perfectly with your brand and overall style and feel.

Get posting on social media

Social media is by far one of the most biggest platforms out there for businesses nowadays, and what makes it even better is the fact that it’s entirely free. All you need to do is open up an account and get posting exciting content so that you can accumulate a decent following and create a buzz. All the leads that you are able to make from there can then be turned into potential sales, so every single new follower is just as important as the next. Hashtags are also a very important key to this as they can place you in the right category and get you seen by the people you need to be seen by, essentially giving you more exposure.

Now you have a couple of examples, you will be able to take things even further and get the sales you need in order to be a successful business right off the bat.