Wednesday, April 20, 2011

Business Development

Companies need to turn one-time customers into regular buyers.

Whatever one's business maybe, getting new clients or buyers is the foremost goal for all. Without doubt the most important goal for every company should be to find customers that one can turn into regular buyers. Having said that, the question that comes to everybody's mind is: 'How am I supposed to begin getting new buyers?' The answer to this question, though not simple, has to be answered first before you start working on your new marketing campaign.

To start with, making one's business visible both on online and offline media can possibly be the best way to bring in a new client. The simple logic that applies here is that 'more the people see you, the more likely it is that they will call you when they want to buy.' But to achieve this, you need to target the right audience. I don't think any business would like to end up showcasing itself to the wrong audience who are unlikely to be the buyers.

Businesses also need to understand that in these uncertain economic times, buyers too are keeping a tight rein on spending. So, unless you have something that is really value-for-money, chances are that you will never be considered a supplier / seller worth exploring. For the very reason, when you start looking for new buyers, try to highlight the points which makes your products stand out amongst others in the market, or simply convey a sense of exclusivity.

Another good move to make your first-time customer buy from you, is by varying your offerings. Since he is a first-time buyer, it will not be possible for you to know the buyer's budget. So make it known that you can cater to buyers of varied budgets. Also try creating an urgency in the customer's mind, which can drive a faster buying decision. This is a classical marketing principle and works almost every time.

The top reason why buyers hesitate to make a purchase is doubt. They wonder if their needs will truly be met once they buy your products. To do away with these doubts, it's imperative for each and every business to answer every query a prospective buyer might have. Failing to do so in a professional manner raises doubts in the mind of the buyer and usually leaves him with no other option than to go to the next seller / supplier.

The current competitive market dynamics demand that a business understands its potential buyer. The mantra to compel customers to buy your products is to show him how your product is capable of meeting his expectations. Are you being able to do so?

CEO's Note - - 20 April 2011

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