Success Mindset | Tolu Adebayo

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Are you frustrated that your product or service isn’t selling? If no one is buying from you, there could be a number of different factors contributing to your sales slump, which can be detrimental to one’s bottom line.

1. You Don’t Have a Unique Selling Proposition

Even if you’re in a niche market, you need to have a Unique Selling Proposition (USP) for your product or service. The USP is a factor that differentiates you from your competition, which is important because how you approach your USP (and how you sell your difference to customers) will determine the success of your product or service. Sometimes, the USP is as simple as having the lowest price. Other times it may be having a superior piece of technology over your competitors. Whatever your USP is, you need to find it and embrace it so that your customers can as well.

2. Your Product/Service is Not as Great as You Think

We all like to think that we’re genuises, and maybe some of us are, but sometimes we can be like a new parent when it comes to our products or services. If you believe that you have the greatest product or service on the planet, stop right there. (You don’t.) Having this mindset can be detrimental because you feel like your amazing product or service should be flying off the shelves…all on its own! Why can’t people see how great my product or service is?! It’s not that your product or service is misunderstood, it’s that you need to step back and reassess the true value of your product or service to your customers, and then market it appropriately.

3. You’re Targeting the Wrong Audience

Companies oftentimes market to the wrong audience because they a) have not done their research, b) had the wrong target audience in mind from the outset, or c) don’t understand their customer base in the first place. Don’t be these guys. You absolutely must know who your audience is, and if you don’t know who you want to target as your customer, perhaps you don’t know your product or service as well as you think you do. You may need to reassess who your awesome product or service is for. Your enterprise will fail if you end up marketing to the wrong audience. We’re talking wasted time, money, and effort with nothing to show for it except for a once-eager audience that will have gone elsewhere.

4. Your Product/Service Isn’t Valued

Much like targeting the wrong audience, if your customers have no need for your product or service, then it is of no value to them. You must know who your audience is so you can properly sell them what they need. This could be one reason why the product or service you think is so brilliant isn’t selling the way you think it ought to be. Customers want to be catered to, meaning they expect brands to understand what they want and then give it to them. Once you understand what your customers want, you can deliver on their expectations and provide them with something seen as valuable to them.

5. Your Market is Oversaturated

What do you do when it comes to your competition? If your market is oversaturated with competitors, it is going to be that much more difficult to find a USP that give your brand enough leverage in the market so you have a chance at reaching customers amid the sea other companies offering the same products or services that you do. One way to avoid this is to seek out smaller niche markets that haven’t yet been flooded by those in your industry. The less broad your market is, the better chance you’ll have at gaining a foothold in said market where there will be less competition as well as the opportunity to increase your market share.

6. You Haven’t Built Customer Trust Yet

It’s important to understand that trust never comes easy, especially online.

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How To Hire A Qualified Digital Marketing Expert: 4 Questions To Ask Candidates

. For digital marketing experts, I typically ask them to complete the following and send back to me within three days:

1.     I pull some background information from an old campaign my company did, including client, general direction, and end goals.

2.     I ask candidates to rebuild the campaign (in their vision) from scratch.

3.     Candidates are expected to identify the KPIs within their strategy, as well as the “low-hanging fruits” (the most achievable goals) and weaknesses they would fix and optimize.

4.     Finally, I encourage the digital marketing candidates to provide a list of tasks they believe would achieve the goals (both short-term and long-term) and why.

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