Businesses often spend a lot of time designing and developing their products and coming up strategies to market them. Because it is only through marketing that people come to know about your products and brand, it seems quite legitimate to spend a considerable amount of time in coming up with suitable strategies and testing them in the market.
But in spite of putting in all efforts, there are chances that you might not be actually selling as many products in the market. This ultimately yields no results to all your strategic perseverance.
It might be disappointing to see such a scenario happening with your product or service. So it becomes quite critical to analyze the factors why customers are not buying your products.
I have seen many businesses simply assuming that their products don’t sell in the market just because they fall back in the extreme cut throat market competition. However, the first step is to not consider something or make assumptions.
Most of the businesses make this mistake of making self-assumptions and working by them. There is a logic behind everything, even behind why the customers are not buying your products.
Think of this from the customer’s point of view. As customers, we are not just concerned about the price of the product but also take many other things into aspect before buying it.
In other words, we are also moved by the quality and the impression that the product has on us. So there might be a plethora of reasons why customers are not attracted to your products depending upon their buying requirements.
So, if you are facing a similar situation and looking for an answer to get out of this, we bring to you the real reasons why the customers are not buying your products or services:
1. The customers do not know about your product
One of the reasons why customers are not buying your product maybe because they are not yet aware of your product. There are chances that you have already been marketing your product and running campaigns in the market.
But if customers are still not aware of your product, then it is the time that you re evaluate your marketing strategy because it does not seem to be working. You need to look out for various factors before you settle on your marketing strategies.
Ask yourself if you have been targeting the right market? Or are your campaigns reaching the right segment of the audience? Is your target group really interested in your product?
There might not be everything wrong with your marketing campaigns or strategies but in situations like these, you might have been using a poor marketing platform or target market. Consider your marketing vehicles so that customers get to know about your brand and your products.
2. You are trying to sell it to everyone
There are certainly things going wrong down your sales pipeline if your marketing plans aren’t working and your products aren’t selling as planned in the market. One of the most important theories to understand the sales process is that you cannot sell to everyone.
Even if you are an experienced sales person and trying to persuade everyone to buy your product, it won’t work. The fact is that great salespeople don’t try to sell their products to everyone because every prospect isn’t a fit prospect for their product.
So if your products aren’t selling on the market take this approach and rather spend your time selling to highly qualified customers instead of everyone. Focus on the customers who will ultimately benefit from your products.
3. You are only marketing your price
Another common mistake that many marketers make is by only focussing on the price of their products. It is not necessary that customers are looking for the cheapest product in the market. It could be a contributing factor for selection of a product by a customer but it doesn’t make sure that they are going to buy it.
Market research indicates that customers look for many other factors while selecting and buying a product ultimately.
These may include the benefits that the product has for them. In reality, price ranks much lower on the list of priorities for most prospects.
So, instead of just talking about the price with your customers or prospect, first focus on the benefits it has for them. Tell them how your product will cause a change in their lives.
If you focus on solving your customer’s problems, the concern for the price factor will fade away and the customer will buy your product considering all the attached benefits of it.
4. Your products are not easily available to your customers
Even if your products are known to your customers, there are chances that they might not be easily accessible to them. Customers love to buy things when they are easily available to them and do not require a lengthy process to be taken up.
For example, if you have an online store for your products and you ask too many details from your customer just before check out, they might back out from buying it. This is the reason it is advised to ask the customer to sign up once they have made their first purchase.
In other words, evaluate the accessibility of your product and consider any necessary changes that will lead the customers to buy more.
There might be any of the above reasons why your products aren’t selling as they should in the market. Businesses thus need to analyze these aspects well and try to work more on their marketing strategies.
There is no point of having a great product if you are not able to market it well. Try to establish your presence and visibility in the market and make sure you focus on marketing other aspects of your products as well apart from the price.
Focus on how your product can make the lives of your customer better. Once you gain the limelight of the market through your marketing efforts, you can easily keep your customers engaged by smart moves.