Merchandising Your Company

Merchandising Your Company

Many times, business owners are found constantly pushing their product — product, product, product. It’s no wonder competition gets steep. If everyone’s pushing product, it has to be based on price. That means price wars and thin profit margins. As a solution to being competitive or appearing to be the best value, we only hurt the customers and ourselves.

When only product is used to make your company different from the others, there is no difference. Unless you’re a manufacturer, it’s not your product anyway. Even if you’re a manufacturer, chances are you are producing something that someone else has as well.

This can be a tough situation for a business whose products or services are common. Even the most unique business can have a hard time getting ahead of the pack. With today’s smart customers, things appear to be even tougher. Customers know to shop for the best deals. Whether it is in retail, service, or industry, customers today are looking for the best value.

The best value today means more than just the best value for the dollar. It also means the best value for their situation. Cost may not be the main factor. Convenience could be the number one concern. Some customers, like yourself, look for good service. They want to be pampered and have all the trimmings as well. They like to be known and respected.

With all these different points about value and competing, how does a business do it on a limited budget? Well, the answer is in your business. There is not one business that’s been around a while that cannot boast about some unique service or capability they have. Whether they offer that unique service or capability is another thing. I’ve often found businesses who are geared up to perform outstanding services taking their business lightly. They say it’s the way they have always been. I always get, “We knew that!” or “We can do that!” Well, action speaks louder than words. Although it’s the words that often start the trouble.

When you’re promoting your product, you should also promote your business. Tell the story about your service, convenience, capabilities, etc. If you know your customers, great. If not, you should learn what they’re about. They’re the first place to start getting your message out, especially if you have something of value to offer them.

It is a shame when you have long-time customers that go to another business for something you could have provided. Some, if not most, of you know what I mean.

If you’re looking for new customers, you have to remember your current customers can help. There’s nothing more rewarding than spending a little extra time with a good customer, getting ideas and information. There seems to be a pattern when business gets stale. Often the customers have been ignored for a long time. What I mean is they have not been getting the same attention you give their money. When you have customers that keep your doors open, you should get your doors open — wide, very wide.

Expanding your business should always be second to building new business when it comes to your current customers. Once you understand thoroughly your customers’ habits, and your business’ best qualities and value, you can begin to launch your business ahead.

Please don’t forget to start building within your business first. Know your all capabilities. Once you know your company’s best qualities and you truly know your customers, you’ll begin to find new business opportunities. With this kind of a start, you can begin to move your business forward. Only this time, you’ll be putting your business and customers first. You’ll be telling the right story, effectively and efficiently.

Remember to tell your story often, selecting only the most effective means of doing it. Be very careful not to get wrapped up in glamour and ego. Take a firm stand to always know and merchandise your company’s best qualities and services.