There are many reasons why starting businesses fail. It might come as a surprise to many that money is not the biggest reason why. Instead, the difference between failure and success often comes down to smart decisions, right timing, and customer appreciation.
What many new entrepreneurs fail to recognize is that the product itself is not the only driver of profit. Sure, businesses sell products and services. Without them, it is impossible to make an income. I can’t sell what I don’t have.
Still, there are other areas to look into. They include product packaging and presentation, customer acquisition through involvement, and proper marketing.
The Beauty of Presentation
Apple founder and former CEO Steve Jobs once said, “packaging can be theater, it can create a story.” In the current age of digital technology and multimedia, this rings true more than ever before. As customers, we have thousands, if not millions of products and services at our fingertips. As such, companies are faced with the constant challenge of providing something unique, something different.
It’s no longer an advantage to have a great product to sell. Most companies do. Instead, the focus is on real value, a combination of factors including quality, presentation, and delivery.
Presentation is not only about having a shiny wrapper or a colorful box. It’s about perception, how the consumer sees your product, your brand, and your employees. Given a high-quality product, businesses can enhance this perception in a variety of ways including:
- Maintaining clean, well-organized shops and facilities. There is nothing worse than walking into a store and realizing that the floors, walls, and stands are dirty or covered in mold.
- For companies with front-line staff, proper presentation entails well-groomed salespeople wearing impeccable clothes. Ideally, your business will hire a commercial laundry services provider to ensure uniforms are always clean, pressed, and in good condition.
- Timeliness and reliability. If you own a delivery or courier service, pickup and delivery staff are punctual, friendly, and professional.
- For those working in hotels, restaurants, resorts, and other areas related to tourism, great packaging is clean pools, functional gyms, and well-equipped meeting rooms and event halls.
By focusing on these and other details, businesses can stand out from the competition and create a valuable imprint in their customers’ minds.
Two-way Feedback and Customer Involvement
One way companies can get feedback from their clientele is through customer satisfaction surveys and questionnaires. But this is not enough as it requires minimal customer involvement. If you want to know what your customers think you should talk to them, ask them questions, have them ask you questions in return.
Many businesses use surveys as a lazy substitute for real customer communication. If you want yours to succeed, don’t do this. Instead, organize physical and online events, use social media to reach out to potential buyers, incorporate customer opinions in product design decisions, build communities, and provide extra content.
Customers buy from companies who care about them, not from those interested in selling things to them. It doesn’t matter how great your product or service is. If customers feel as though they are just another number, another sale, they will go elsewhere. Remember, there are plenty of options from which they can choose.
Sell an Idea, Not a Product
Efficient marketing is not bombarding your customers with as many ads, popups, emails, and promotions. If you want to sell a phone, don’t focus on the device itself or how pretty it looks. Market your product as a communication tool, a way for families and loved ones to stay close to each other no matter where they are in the world. A car is not an engine, a chassis, and four wheels. It’s an opportunity for people to share unforgettable experiences, build friendships, and create long-lasting memories filled with happiness and joy.
The best commercials share a story, a bit of life. They inspire people to take a leap of faith, to be bold and courageous, to take a chance on being better versions of themselves. If you don’t have the budget for an ad filled with athletes and celebrities, then use the tools at your disposal. Creativity and passion will take you further than any amount of dollars you have. Ask yourself what kind of products you like and why you like them.
Building a brand takes time, effort, commitment, and constant change. It’s the same with creating a loyal, stable customer base. However, if you start by thinking about product presentation, involving your customers, and creating an effective marketing campaign, it can also be a journey full of pleasant surprises. If you believe in your business, it is definitely worth a shot.