In difficult economic times only the strong will thrive. Great products and a solid sales program will keep your sales pipeline filled when your competitor's well runs dry. Product, packaging, pricing, positioning and professionalism make the difference in lean times. Your marketing program begins in the lab and goes all the way to your warranty service department. The entire chain must be filled with good decisions because the cliche is true: a chain is only as strong as the weakest link.
Product comes first.
Your product, whether tangible goods or a service, needs to be competitive. You don't have to hold the leading edge, be the very best, or offer the lowest price. Your customers have a variety of needs. Pick one and fill it. First satisfy yourself that you believe in your product. Your customers will respond to your enthusiasm.
Packaging means more than a box.
Packaging is your delivery system. For tech products the package includes professional graphics on the outside and much more on the inside. Delicate components have to be sealed, cushioned and stabilized. Quick-start instructions should be included to supplement detailed manuals.
Great packaging reassures your buyers that they've made a smart decision. For services, packaging includes your set-up call, confirmation, supplemental literature and warranties, and follow-up.
Pricing is a science.
One truism offers, "if price was all that mattered, we'd all be driving Yugo's." Accept your sales team's feedback, but use market dynamics and sound accounting to set price points. If your product is clearly superior, beware of discounting. Or, if your widget is the low price leader, lead with that pitch.
Electronics items are famous for driving sales with rebates. Don't kid yourself that buyers love those programs - they despise them. Circuit City relied on rebates extensively. They're closing every store now. Better to add value to your product by bundling. Offer a free flash drive with your USB hard drive, for instance.
Positioning drives your sales.
Every product has its niche. Make sure yours is optimized for its spot. OEM, wholesale, retail, direct-to-consumer, internet-only, and even "as seen on TV" each need different approaches. Taylor your program to fit its niche. Don't take for granted that your product or service has already found its home. That's where the phrase "think outside the box" came from.
Take a hard look at your strengths and weaknesses. If high-volume is your forte, take advantage of that. If superior customer service sets you apart, become your industry's Rolls-Royce. A mid-line product can outshine the rest through great marketing. Differentiate your offering so your customers know why they should rely on you.
Professionalism seals the deal.
Answer your phones. Reply promptly to emails. Proofread every mailing and enclosure. Insist on professional staff email signatures. Offer extensive team sales training, including voice and assertiveness classes. Fill your orders faster than the next guy. Provide amazing tech support. Host high-quality FAQ's and Help forums. Spit-shine your website. Attack customer complaints aggressively. Honor your warranties.
Easy to say, harder to do? Too expensive? Plain and simple: fail in any of these areas consistently and eventually your product WILL FAIL. You cannot counter crappy service with deep discounts. The best warranty won't outweigh a lousy tech support system. Your Rolls-Royce product won't satisfy your customer when it arrives three weeks late. Everything matters.
Listen, learn and react.
Every successful NFL team makes crucial changes at half-time. In the same way, you should never be satisfied. Listen to your customers, your sales staff, your support group and warranty department. Admit your product's weaknesses and find solutions. Maximize your strengths. Reduce costs while improving quality. Get out of your chair and out into the field for answers. Nothing grows while you're sitting down except your backside.