Marketing involves implementing a barrage of strategies to get the most number of the “right” people to buy your products, at the right locations, and at reasonable prices that satisfy both their budgets and your need for profits. But many home-based entrepreneurs are so into labor-intensive home production work, they forget emphasizing other areas of the business such as the key objective which is to generate more sales. If you’re one of them, here’s a step-by-step guide and tips to generate more sales for your homemade products.
Step 1. Identify your potential customers.
Who will most likely buy your goods? It helps if you answer this with as much detail as possible. What are their genders, nationalities, age range, educational attainment, jobs, experiences, habits, favorite places to hang out in, amount of disposable income, needs, wants, dreams or fantasies, and amusements? And where do they live, and how often do they move around in their area?
The whole point is to identify where the demand is coming from, and how strong it is. Is it strong enough to justify the existence of your product? Or should you go back to the drawing board and modify it, to better suit what your potential customers are looking for?
Step 2. Check your cost vs. pricing
So can your potential afford whatever it is you’re selling? How willing will they be to pay the selling price you’ll set? Is there a good reason for them to accept – or not to accept – your price?
Check if your selling price is enough to offset what it cost you to produce your products. (Don’t forget other operating costs, like transport, packaging, marketing, etc.) It must also be enough to give you profits. You should be making profits equal to at least 30% -50% of your selling price, or higher!
Step 3. Make final product modifications.
Once you’re sure of who your customers are and how strongly they’ll desire your product, you can make any necessary modifications to your product and price.
Step 4. Identify the places where your customers are most likely to hang out and buy products like yours.
Once you know precisely who your customers are, you can identify where to position yourself in your area. (“Area” here can mean either a physical location, or a virtual location on the Web.) Concentrate your efforts, time, and budget on a few key positions, and get going! Don’t plan to spread yourself too thin to cover all the places your customers will be in; you don’t need to do this to be “visible” and memorable to them.
To help you think of the best spots, here are a few examples (physical or virtual) that may be applicable to your particular product:
• Trade shows
• School or neighborhood fairs
• Local groceries
• Boutique stores
• Cafes, restaurants, bakeries
• Amazon or Ebay
Step 5. Do proper branding and presentation.
And how should the product be packaged, displayed, and delivered to your customers? What personality or ideals should your product stand for? Do you need fancy packaging and a logo, or can you get away with just basic packaging?
In short, you have to create an overall branding and presentation that will make your customers value your product enough to buy it on a regular basis.