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February 7, 2014 — A weekly look at Wyoming business questions from the Wyoming Small Business Development Center (WSBDC), part of WyomingEntrepreneur.Biz, a collection of business assistance programs at the University of Wyoming.
By Greg Jordan, Wyoming Entrepreneur SBDC associate state director
“How do I get more sales?” Barb, Cheyenne
In years past, sales were a simpler process. Entrepreneurs would yell out what they had to offer from their street stands or while pushing their carts when walking down the street. If an interested customer heard the call, and had enough money, he would go to the vendor, and the transaction would be completed.
Today’s market is much more complex. Internet sales, mass media advertising and thousands of products all compete for limited attention of consumers and amount of money they have to spend. It is easy to get lost in the crowd, even if you have the best products or services since sliced bread.
So, how do you increase your sales in today’s world? The answer lies in really getting to know your customers. It is important to determine not only who your best customers are, but what makes them want to buy your product and service from you. Why did they buy from you? What need are they satisfying with their purchase? What do they have in common with the other people who are your customers? Are they of a similar age group? Do they make a similar amount of money?
Once you understand who buys from you and why, it is important to know who buys from your competition. What makes them different from your customers? In what ways are they the same? How might you entice people like them to buy from you instead?
Answering these questions takes time and effort but, when you are done, it can help you focus your marketing efforts on the people who are most likely to buy from you and help to increase sales.
If you need help figuring out your customer demographic or increasing sales, a Wyoming Entrepreneur SBDC adviser can help identify your market and show resources to boost those numbers. For more information, call 1-800-348-5184 or visit www.wyen.biz.
A blog version of this article and an opportunity to post comments is available at http://wyen.biz/blog1/.
The WSBDC is a partnership of the U.S. Small Business Administration, the Wyoming Business Council and the University of Wyoming. To ask a question, call 1-800-348-5194, email email@example.com or write 1000 E. University Ave., Dept. 3922, Laramie, WY, 82071-3922.