Revive Your Product Sales: Mastering the 4 Pillars of Product Business Success!

Today, we’re tackling a topic that many product-based business owners face at some point: a sales slump.

Whether you’re selling online, offline, or both, hitting a slump can be discouraging and stressful. But don’t worry, because in this blog post I’m going to show you how going back to basics, no matter where you’re at on your business journey will help you to regain control of your sales and start making even more profits! 

If you want to listen to this instead, Click Here to hear this episode of The Abundant Business Podcast

No matter what you sell or where you sell from we have all experience a sales slump! And I know from first hand it can be incredibly stressful! But what I’ve noticed is that sales slumps tend to happen when the owner takes their eye off the ball, they forget about the basics and this starts to show in sales.

I’ll be honest and say this has happened to me too!

I remember thinking I’ve got this cracked and then I carried on in my own little world and within a few months I could see that sales weren’t happening as they were and the months weren’t correlating to what we had been doing and the thing that had changed was me!

I had stopped with the basics and wasn’t getting the traction or the sales we were getting so I went back! And guess what happened?! The sales came back again!!

Sometimes it can be hard to admit when you’ve taken the eye off the ball and the results are a direct result of that and that’s why I want to go lack to the the four pillars of a successful product business with you today and show you how each of these are designed to help you not only maintain but exceed the sales you have been making.

The 4 pillars of a successful product business are : Connect, Nurture, Sales, and Mindset.

Let’s dive right in and get your sales back on track!

PILLAR 1: CONNECT

This is all about building and maintaining relationships with your customers. Because all great relationships start with a connection and your product business is no different…

Here’s how you can strengthen your connections with future customers that want and need your products and how to get them to know, like and trust you:

• Know Your Perfect Customer:
• To make sales you need to show your perfect customer how your product or your brand can benefit their lives. If they can't see or understand the benefit, they're not buying!
• Conduct surveys and gather feedback to understand your future customers' wants, needs, and goals are as well as their problems, irritations, and frustrations.
• Understand what they want from your business, why they need a product like yours and show them why your product and your brand is the one they should be doing business with.

• Engage on Social Media:
• Be active on the social platforms where your customers spend their time keep sharing the benefits of your product, why you decided to make or curate it and the passion you have for it as well as sharing reviews and testimonials from existing customers.
• Respond to comments, messages, and reviews promptly. Show your audience that you value their engagement and ask them questions in return!

• Host Events:
• Whether you have online or offline business I would consider hosting in-store events, workshops, or product launches. If you cant do that host webinars, live streams, and virtual events to interact with future customers. This is about you showcasing your brand what you stand for and letting potential customers interact with you and your products to get the best experience possible.

• Collaborate:
• Partner with complementary businesses to get in-front of more like minded customers to the ones you want to attract. Their customers already trust them and if they endorse your brand and your products they will be more likely to trust you too!
• Connecting with your future customers in a way that shows them that you see them, you understand them and you want to help them achieve their wants, needs and goals is the most important thing to get them on board, want to know more about you, understand your values and what you stand for and if that all connects in the best possible way they are likely to make a purchase!

PILLAR 2: NURTURE

 Once you have successfully connected with your perfect customer you need to nurture them. This pillar focuses on building long-term relationships and providing value to your customers beyond the initial sale:

• Email Marketing:
• If you aren’t sending a weekly e-newsletter to your customer base you are seriously missing out! And I know that many of you will say "that’s too much I couldn’t possibly!"
• But when you use your newsletter to build trust, credibility and loyalty amongst your customers instead of just sending offer after offer you are more likely to get them to buy from you more often.
• So think about how you can get customers to part with their name and email address in order to be a part of your email list… from free guides, top tips, how to's, competitions, or a simple sign up sheet.
• There are many ways in which you can get customers email addresses and I would strongly recommend that you do so so that you can nurture your customers in the best possible way and stay front of their minds.

• Content Marketing:
• Start creating content that educates, entertains, or inspires your audience. This could be blog posts, videos, infographics, or social media posts. Your website and social channels are for new and existing customers so make sure that you use them to show just how much value you bring to the table which makes you stand out amongst your competitors.
• Consider sharing behind-the-scenes looks at your business, product tutorials, or customer testimonials. Let future and existing customers feel like they know you and your brand.

• Customer Service:
• I’d say that nearly every business I've worked with has said that they Provide exceptional customer service. But very few actually go above and beyond the basics … Be accessible, helpful, and responsive. Think one step ahead of your customer, pre-empt what it is they could most want from you and give it to them without them having to ask.
• Implement a follow-up system to check in with customers after their purchase. This is pure gold in terms of gaining trust from them and showing that you genuinely care.

• Loyalty Programs:
• I also highly recommend you having a loyalty program as well as a VIP program to Reward your repeat customers and your best customers! It has been proven that customers that belong to a loyalty program are more likely to visit more often and spend more money and when you create a VIP option to reward your best customers by invite only this creates another layer to your business and everyone wants to become a part of the exclusivity and reap the rewards that come along with them.
• Work out how you can reward your customers and don’t just think they want discounts either. Invites to events or workshops could also do the trick without losing out on your profit margins. This also helps you to build a community of like minded customers!
• Nurturing your customers ensures they keep coming back, which will help to prevent your sales might be dipping. And having to constantly find new customers.

PILLAR 3: SALES

Because without sales you don’t have much of a business but the art of having great sales is to not have to ‘sell’ at all! This is where you focus on strategies to boost your sales directly:

• Upgrades
• Just like hotels, and aeroplanes give you the option to upgrade you should be offering something similar in your product business. Think about what your customers are buying fro you and what you can do to enhance their experience for an extra cost…
• Is there an add on that would be beneficial, or after care to keep your product in best possible shape?

 
• Cross-selling
• If you have a physical store you should train your staff to suggest additional products that could help customers to get a bigger / better / faster result. If your store is online complementary products should appear alongside customers purchase along with added benefits.

• Bundling
• Take the thinking out of having to buy multiple products and have them already together waiting for them. This is why it helps to know why people are buying your products and what people tend to buy together so you can be one step ahead and present them with perfectly packaged bundles again showing that you care about them and their experience with your products.

If you change the way you look at sales from trying to get a person to part with their money in exchange for your products instead come at it from a "how can I provide as many people as possible with as much value and help as possible", "how can I show them everything that could benefit them and their lives?" because when you focus on value, benefit and help the sales, the money and the profits will follow.

By refining your sales strategies and understanding your customers needs you can drive more revenue and navigate through slumps effectively.

PILLAR 4 : MINDSET

And lastly but by no means least we have Mindset. Because your business success is 20% strategy and 80% mindset. So let's start getting better results by putting your mind to it! Maintaining a proactive mindset is crucial during challenging times:

• Is your glass half full or half empty?
• I know if you're going through a sales slump its easy to focus on the lack of sales you're having right now, but can you start focusing on whats going well? What is going the way you want it to? 
• When you Focus on the positives around you, instead of dwelling on whats not working out and remind yourself why you started your business you are more likely to get out of the slump and start seeing results… no matter how small they might be initially.
• I started to Keep a gratitude journal to reflect on my successes in my business when things weren’t going well for me and every day I would force myself to write down 1 positive thing even when I thought it was impossible and it really helped!

• Set Realistic Goals:
• I always work in 90 day chunks and set goals up to that point and then chunk them all the way down to each week . This allows me to really focus my attention, refine whats working whats not working and understand why so that I can achieve my results by the end of the 90 days.

• Continuous Learning:
• The best thing you will ever invest in is yourself. I know you are already doing this as your reading this blog but also see if you can Attend workshops, take online courses and expand on your knowledge because what you already know has got you this far… you need a new set of skills to take your business to the next level!

• Build a Support Network:
• Connect with other business owners, mentors, or join business groups. Sharing experiences and advice can provide valuable insights and support.
• Don’t be afraid to ask for help when needed. Sometimes an outside perspective can offer new solutions you might not have thought about.

A resilient mindset will help you navigate through tough times and keep your business moving forward.

To sum up, remember the four pillars: Connect, Nurture, Sales, and Mindset.

Here’s a quick action plan to help you get started:

1. Strengthen your connections with your audience.
2. Nurture your existing customers with valuable content and excellent service.
3. Implement effective sales strategies to boost revenue.
4. Maintain a positive and proactive mindset to overcome challenges.

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- Your Business and where you're at right now 

- Your Success and what that means to you 

- Your Struggles and what's blocking your growth 

- Your timeline and how quickly you want to achieve your goals 

- Your investment and what type of coaching would be most suitable for you 

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