Best Tips On Incentivise Sales.

All of us know that today, celebrities are engaged more in advertisements than they are in their own field of work. This is happening because a consumer connects with a product when he sees his favourite celebrity endorsing it. Celebrities have been proven to increase the amount of attention given to an advertisement. However, these celebrities may not be consistently persuasive. Reasons are many, but the main reason is the consumer’s perception of a celebrity, which keeps changing. As soon as a celebrity is involved in a scandal, for example, it may have a direct impact on the sales of your product.

Inducing trial for a product before its launch is a great way to secure capital. However, it is possible only when you either get consumers to buy the product for the first time, or you give it away free of cost.  During the growth stage, important needs, especially for small business owners, are persuading the consumer to buy the product and convincing them to choose it over known brands.  Here, it is also important to persuade retailers to carry the brand, and thus, retailer incentives become a large portion of promotional resources and eat up a major chunk of the promotional budget.

Advertising your business has never been easier. As discussed in my article Quick Business Development Tips, one of the best things about the internet is that the size of your company does not really matter. If you have a good website, that is user-friendly and sells unique products at competitive prices, there is no reason why your website would not rank ahead of a large multinational competitor on Google, and funnel off some of their traffic. This is an important reason why a website is even more important for a small business than a big one, it helps level the playing field.

Getting a website for your company is an important investment that you must make sooner than later.

You may read about this in detail in my article Business Development – Effective Strategies, to know about the importance of getting one now! You would think that in this day and age, everybody would know how important a website is for all businesses. Clearly that is not the case. One of the most surprising things when you look at small businesses is how many of them don’t have a website. Any business that does not have a website is missing out on one of the most powerful marketing tools available to them. At most big company websites, customers often field each other’s inquiries on products and services before they reach customer service reps.

Find a local designing and advertising company to understand what would be the best options for your specific product or budget. Among several modes of advertising, let the experts help devise the best option for you. Each medium tends to have advantages and disadvantages, which we as small business owners might not be as aware of, as the advertising companies are. Again, do your homework well, so you have questions to ask the experts.

English is the universal official language and it is important to address your customers in English. Adding the native language of your target audience is another added advantage, as you need to consider your target audience as well and make sure they understand you. Include the above in your marketing material and see the impact of positive branding.

Performing market research is highly important to understand your company’s current position and determine where it is headed. Perform research about the industry you are in, the geographical area you cover and the market segment you are targeting. There are many readymade reports about the industry, market and country available over the internet that can be useful for you. They inform you about market trends and values. You can then calculate your market-share out of the total market value.

Once you learn everything you can about the products/ services your company offers, you must learn about your competition in order to understand where you stand, compared to others. It will also help you determine your desired market positioning. Determine your company’s top competitors by setting up a criteria or mechanism for comparison, choose different variables for the comparison, like strengths, weaknesses or price, product quality, exposure, brand reputation.

Share your experiences with us. Please leave your comments in the message section.