Ever established a business but it went to a standstill. A lot of beginners are left confused cause they don’t understand why customers aren't buying their products or services. Some think they are in a stream of bad luck but if they understood the mind of customers, they might change the way they conduct their business.
So, why are customers not interested in buying my product or service?
The basic psychology of customers
- Customers don’t see any value or aren't getting any value from your product or service
Why do you think google and facebook services are used every day? It’s simply because what they offer to the masses is valuable. The more valuable your product and service is, the more customers come flocking in to buy or use your product or service. If you happen to provide a valuable product or service, your business will undoubtedly grow through the word of mouth/ grapevine. So, change your approach by providing what is valuable and necessary.
They are not aware of your product or service
people will never buy from you if they are not aware of your product or service. It’s that simple. Sometimes you might offer a very good product or service but due to less recognition, you might not generate the kind of sales you are expecting. So, if you give more exposure to your product or service, the more likely it will enter the market, thus gradually generate sales.
- Your product or service isn’t readily available to your customers
Customers will not buy what isn’t readily available to them. Nowadays, people are more impatient and if you waste time delivering your product or service, they will quickly disregard your product or service permanently. So, if you want people to constantly use your product or service, make sure you are able to deliver cause time is everything to the customer. Remember that.
- Your product or service is expensive compared to what they already use or saw.
If you think customers don’t compare then you are dead wrong. Customers are price critical, by this I mean they go around comparing products and services. If your product or service happens to be more expensive than other competing products or services, people will simply neglect yours and buy ones they can afford. Please remember, a majority of people aren't super rich, so if you want to survive against competitors, provide quality products or services at a reasonable market price. Well it’s not easy to find the best prices without compromising yourself and your business but it’s also important that you provide products and services at a reasonable price.
- Your reputation is tainted
Well, one the quickest way to lose customers in any business is by having a negative reputation built around your business. Most people don't understand that grapevine (word of mouth) can make or destroy your business. People talk out there, and how you conduct yourself and your business will make the difference between a casual customer and a repeat customer. So it’s basically very important that you carry your business like it’s your new born baby instead of something you just use make money. In most cases, People who often succeed in the business realm took their business seriously as if they were raising a new born baby and as a consequence, it grew into a fully fledged profitable business. So basically, reputation is one big factor in the business realm, not only because it can make or break your business, but solely because it defines and shows who you are.