Are you having problems getting customers to buy from you even after you’ve spent your time and resources trying to effectively market your product?
There are certain expectations you need to meet before you can consistently make sales and grow your revenue.
In this article, we’ll take a look at 7 reasons why customers may not be buying from you.
Let’s get started.
1. No Unique Selling Proposition
Your unique selling proposition (USP) is what differentiates you from your competitors. Unless you are fortunate enough to be the only player in your industry (which is highly unlikely), you need an instantly recognizable USP.
The problem is that most businesses do not have a unique selling proposition—a compelling offer that would make the customer want to come into their store and buy from them. Perhaps they don’t have a clear idea what makes them stand out from everyone else or they’re trying to appeal to everybody.
The danger is, according to Neil Patel, “When you attempt to be known for everything, you don’t become known for anything.”
So, how do you define your USP?
An ideal USP is one that directly addresses a specific need of the customer. For example, your USP might be the ability to guarantee overnight shipping, giving customers the security of knowing that their package will be delivered as promised.
When defining your unique selling proposition, these are some questions you should answer:
- What does your ideal customer want?
- What are the factors that motivate their buying decision?
- Why should your customers choose to buy from you instead of your competitors?
“A strong, instantly recognizable USP can make or break businesses operating in competitive markets . . . Until you know what your USP is, and how to capitalize on it, your business will be just another voice clamoring to be heard,” says WordStream.
“A strong unique selling proposition can help you attract and retain customers and reduce client churn.”
2. Targeting The Wrong Audience
In many cases, customers may not be buying from you because you’re trying to sell to the wrong audience. If you don’t target the right customers, your marketing efforts will be a waste of time.
Without a detailed idea of your target audience, you may be missing opportunities to make sales and losing customers to your competitors.
Statistics show that 29% of businesses fail because they spend money marketing to the wrong audience. To avoid being one of these statistics, you need to do your homework.
Here are two steps you can take:
Analyze current customers
How old are your current customers? How much do they earn? Where do they live? What’s the predominant gender of your customers?
Asking these questions will help you understand who is currently buying from you.
Analyze your competition
Perform in-depth research on your competition, their products, and marketing efforts to see where you can improve and perhaps do better at something they’re doing.
Understanding your competitor’s marketing habits can give you a clearer view of who your target audience is.
3. Poor Customer Service
According to a survey carried out by American Express, 90% of customers use customer service as a factor to decide whether they would do business with a company. In fact, 17% of consumers are willing to spend more on a business that has outstanding customer service.
The key to a successful business is improving the customer experience as much as possible. You need to go above and beyond to ensure the customer’s satisfaction and prevent them from going somewhere else that will treat them better:
Huffington Post offers the following tips to improve the customer’s in-store experience:
- Make sure staff is available to customers when they need them.
- Encourage customer loyalty with a rewards program.
- Don’t pressure people to buy. Instead, educate customers so they can choose for themselves, with their own needs in mind.
- Always say “Thank you” to show customers that they are valued and appreciated.
- Keep employees happy—employees that are happier at work are more apt to take care of customers.
“Take care of your customers, and they will take care of you,” asserts Huffington Post. “Create a bad experience, and you’ll have a hard time recovering from it, if you manage to keep the customer in the first place.”
4. Marketing Price, Not Value
“People don’t buy products, they buy the results the product will give them,” says Brian Tracy.
As the quote above indicates, the concept of “value selling” is based on the idea that customers buy your product or service anticipating the value they wouldn’t have enjoyed in the absence of your product or service.
For example, Apple consistently makes billions from iPhones—despite the high price tag—because they show their customers that their product is worth it…and who would want to miss out on that kind of value?
“If you focus on the value, the price becomes less and less important. If you don’t focus on value, the only thing you can talk about is price.”
Forget about price and focus on educating your customer on the benefits your product or service provides.
5. Oversaturation of the market
When they’re a lot of competitors in the market, it means many businesses are seeking for the attention of hungry buyers, which results in loads of advertising noise.
While you may feel pressured to shovel more money into your marketing budget, your real challenge is to do more effective marketing and come up with unique sales strategies.
Competitors will try to undercut each other by driving prices down, but resist the temptation to exploit your own product in a price war and attempt to win customers by being the cheapest option available.
Instead, you need to focus on offering something so valuable that people will pay what you’re charging.
To succeed in an oversaturated market, you’ll have to constantly improve your offering to avoid becoming obsolete. The best way to do this is to listen to your customers and let them guide you in how to make your product better.
6. Inaccessibility of the Product
Whether your product is hard to find on your website or it’s rarely in stock, customers will get frustrated of trying to buy from you if your product is not easily available to them.
If you want to make an accessible product, you have to consider accessibility at each stage of the customer buying process.
User research and customer feedback will go a long way in helping you determine the availability of your product. Aim for simplicity and convenience in your purchase process so customers don’t get annoyed and seek for better alternatives.
“Many brands lead consumers down confusing purchase paths. The savviest ones simplify and personalize the route.”
7. Too Many Choices
You may think that giving your customers a huge selection of products to choose from will help you make more sales.
But this might actually result in “decision fatigue”, in which the consumer is so overwhelmed with choices that they don’t buy anything at all.
According to a study by Harvard Business Review, the single biggest driver of consumer “stickiness” in terms of making a purchase is, by far, “decision simplicity”—the ease with which people can gather reliable information about a product to confidently and efficiently weigh their purchase options.
Another study by Siegal and Gale indicates that 62% of consumers would pay more for a simple shopping experience.
Today’s consumers want simple, direct and easy transactions . . . They are willing to be loyal, but you must be worthy of their loyalty.”
If your customers aren’t buying from you, it’is not too late to start using these strategies to improve your sales.
The key is to market your product to the right audience, create your unique selling proposition, offer fantastic customer service, and make your products more accessible and convenient to purchase.
Following the strategies in this article will help you increase your sales and reach your business goals faster.
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