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« Back to articles from category "Advice"

The following article was published in our article directory on August 1, 2017.
Learn more about SpinDistribute Article Distribution System.

What Happens When You Clarify Your Offerings? Greater Profits!

Article Category: Advice

Author Name: Linda Clay

You spend night after night in front of the drawing board, writing down all kinds of ideas for more products or services that you can offer because you think more is better.

At least, you think it sounds good. Now pull yourself away from those thoughts for a moment and imagine you're out shopping at your favorite mall and you see two stores, side-by-side.

The first is the a popular one stop shopping experience, everything you can imagine is carried there. You'll find garden tools, candy bars, T-shirts, car parts, cleaning supplies and baby bottles.

The second one is much more exclusive. You find only one item sold there .. Chocolate. There's Belgian chocolate, Swiss chocolate, dark and milk chocolate, chocolate covered peanuts, chocolate flavored gummy bears, chocolate covered raisins and more.

Every type of chocolate is stocked. It's like stepping into Willy Wonka's Chocolate Factory. If your favorite candy is not chocolate, sorry, you're out of luck, no matter where you look, you won't find it.

Immediately, you think: "Wow, that chocolate store is really limiting itself."

You step away and start listing all the things they could be selling besides just chocolate. After all, the world is full of all kinds of sweets, such as toffee, jelly bellies, caramel, licorice and more.

Not only the numerous different kids of sweets, they could be offering greeting cards, candy dishes and perhaps specialty gift bags. Geez, they're losing out on huge sales or actually are they?

It's a twist to your thinking: The more you offer, the more you'll make. The truth is .. More is not necessarily better. Your first store, the one which offers a little bit of everything is not necessarily most business savvy of the two.

Let me explain why.

Think about it this way. When you take the time to match your business goals to your offerings, clarifying and reducing them to match, you will be in a much better position to draw your ideal client to you. Best of all, you'll have clients waiting in the wings to purchase your products or sign up for your services.

I know, you're thinking .. but the first store that sells all kinds of products has way more traffic. You're right, they do! Sure, no matter what you want, you know you'll find it there and be able to buy it. But and there is a huge but since they appeal to such a wide market and stock so many different items, out of necessity they have to keep their prices lower.

The 'Chocolate Only' shop, well, is different. Sure they might have fewer clients but the clients they do have are more loyal, spend more money per visit, and tell all their friends about the all the kinds of delicious chocolate items they find every time they visit the store.

And the One Stop Shopping Store? Here's the clincher: If there was a rumor or an ad for a lower priced item on the other side of town, they'd be off in a second, no hesitation, there's no loyalty, no 'Wow, I always find all my favorite items there' .. with their clients.

So what exactly does this mean for you, your business and service offerings?

Bottomline, everything!

It's critical as a coach, service provider or product seller, that you know exactly what you want to provide and to whom. If you throw together your brand without any meaning behind it, create a mixed bag of products with no clear direction, you may make a few sales (especially if you go cheap) but the loyal following you're hoping for won't show up! The end result: you'll be just like the first store, chasing after clients, because all the old ones will be constantly going after the 'better' price.

"You too are a brand. Whether you know it or not. Whether you like it or not." – Marc Eckō

Spend some time this week to look at your virtual 'storefront.' Do your products reflect your brand? When a new visitor stops by, can they tell instantly what you do? Are your products or services priced in line with your market?

Don't let your 'more is better' way of thinking stop you from taking a hard look at what you offer and to get rid of those low-priced products. Instead put your focus on the core products and services, work on them to make them better and more valuable. When you do, you'll find your brand is developing it's own loyal following, too!

"If people believe they share values with a company, they will stay loyal to the brand." – Howard Schultz Click to tweet!

About the Author: Linda Clay is an expert when it comes to #mentor #coach #lifestyle #mindset SpinDistribute Article Distribution System. We also offer a Pro Article Writing Service to everyone who needs premium quality well-researched articles.

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