Can you confidently identify the parts of your business that need an overhaul and improvement? You should be able to know what your win/loss ratio is early on. It will save you a lot of time and money. Watch this video and learn how.
You might be asking yourself – what’s a win/loss ratio? Well, to simply put, it’s the number of times you’ve had winning trades compared to the number of times you’ve had losing trades. A lot of you might’ve heard the saying, ‘don’t count your losses’ but that saying does not work when you’re trying to sell a product!
Counting your losses is just as important as counting your wins. Why? Because it helps you grow. It gives you an idea of what went wrong with the last sales pitch. It provides you with a clear path on what to do next and which error to fix. Most importantly, it lets you know which areas to improve on significantly. Is the speed of the app too slow for many of your consumers? Has the UX itself been designed with your audience’s preference in mind? These are all important questions to know your win/loss ratio!
Know Your Product Well!
First things first – know your product well!
You can’t sell anything if you don’t know the first thing about what you’re selling! Imagine if you had to sell a phone to a large audience of eager kids wanting to get their hands on the best-selling phone on the market. You wouldn’t be able to convince them if you weren’t aware of the specs and the performance, right? So get that checked out on your list first!
The best business person is the one who truly believes their product can do well all over the world and that it has a purpose in the community. It’s easy to convince people that your product is going to be the next best thing if deep down inside, you believe it yourself too!
So pull out your notebooks and take down notes! List down the features and effects of your product. Know where it stands in the current market. Research the trends and patterns of what everybody else is doing. In this case, knowledge is power, and don’t you ever forget that!
Put Yourself In Your Audience’s Shoes
Sometimes, the best marketing strategy does not necessarily have to deal with numbers or charts and graphs. Sometimes, it is not about the pattern or the trend of the market. It doesn’t even have anything to do with how good your product looks! Most of the time, the best strategy to better understand your audience and improve the sales of your product is to put yourself in your client’s shoes.
This is the main factor as to why several companies focus their time and energy on providing good customer service. By listening to customer complaints or simply accepting general feedback, companies and corporations are able to eliminate annoying pain points and obstacles that ensure a seamless customer experience. ·
If you’re seeing your sales go down, it’s time to ask yourself the following questions:
- What makes the client happy?
- What processes are taking too long?
- How can I speed things up?
- How is this helping my client?
- Is this part or function necessary?
- Which looks better for the client?
- What is missing from your product that people are looking for?
It is understandable if you have a vision in mind but the tricky thing about projecting that said vision is ensuring your target audience accepts it willingly as well. Be sure to take notes!
Need a Coach? Look No Further!
Managing the inner workings of business and developing IT products isn’t an easy task. Some people would even find it difficult to focus on their brand while making sure it does not crash and burn in the development stage. However, it is crucial to build on a budding network, full of people who will support and guide your marketing journey! Your product will be useless if the right people have not heard of it!
What you need right now is a coach! And not just any coach–the BEST coach that you won’t be able to find anywhere! With the help of Loading Growth, it is guaranteed that you are headed in the right direction! Expect accelerated growth when it comes to all your IT consultancy needs. Not sure where to go next? Afraid to take the next step? Loading Growth has you covered. Check out their website at Loading Growth or contact them through their email: info@loadinggrowth.com!
What are you waiting for? Your Coach has been here all along!
Identify Your Weakest and Strongest Areas
The third step is identifying the weakest and strongest areas of your products or even your sales pitch. To know your win/loss ratio isn’t just a bunch of numbers that you’re going to stare at and hope that the answers are written there in plain text. You have to identify the weakest and strongest areas of your entire marketing plan.
It’s simple, right? If what you’re pitching to an audience is working really well, then there’s no reason to waste time, energy, and resources on improving that certain aspect of your plan. But if there is an issue with the product itself or there is a specific part that is not clicking well with the consumers, then you need to pull up your big boy pants and get down to business! Think of your company as a car. If it’s not running as fast as you’d like, then there’s got to be something wrong inside, right?
Constantly Improve Yourself
The last piece of advice we have for you is this: constantly improve yourself! Never stop improving on your product. Never stop believing that your sales will go up in the future. Most importantly, never stop counting your wins and losses. Even when everything is going so well, one fatal mistake can bring an entire kingdom down. So keep your head held up high but don’t forget to look down every now and then to see where you’re going. It’s good to be humble and to stay on the right path to a successful marketing venture!
Conclusion
Know your win/loss ratio. At the end of the day, marketing isn’t the easiest thing to do, especially in a world where competition just keeps popping up everywhere! You have to stand out among the crowd and your product has to be absolutely valuable to your clients. It’s a precarious balance. Rest assured, with tips from Loading Growth, you’re accelerated to the right path! The strategy is proven to be effective in growing a successful business and achieving personal desired outcomes.
You just got to keep learning and keep hustling.
