Supply and Demand in Business – How to Create Your Own Demand

 

So you built a business, you have a great product or service to offer, and still nothing. The clients just aren’t coming. Whatever happened to the saying “Build it and they will come”? If only building a business was that simple. In order to build a thriving business you have to create your own demand … get people talking about you and the great product or service that you offer.

Here are just a few ways to create your own demands:

Start Talking
Tell anyone and everyone about what it is you do and why it is better than your competitors. Don’t be afraid to describe your ideal client when talking with others so that they can get a true picture of just who it is that you are looking for to purchase your product or service.

Become an Expert
People are more likely to buy from you if they trust you. A simple way of building that trust is by becoming an expert in your field. Providing seminars, writing articles and blogging are just some of the avenues for providing that expertise. By showing others that you know what you are talking about and by providing valuable information to them (free of charge), you can be sure that when people are looking to buy a product or service like yours, yours will be the first one that they think of.

Testimonials
When your present clients are satisfied with your product or service make sure to ask them for a testimonial. By providing your potential clients with proof that your product or service is what you offer, they are more likely to purchase. When providing testimonials it has even more of an impact if you provide a picture of the person or at the very least a telephone number or link to their website so that these people seem more real.

Offer a Trial or Incentive
Many who have never used your product or service may be leery to take the plunge. By offering them a trial or promotional incentive to try your product or service, they are more likely to “become hooked” by what you can offer them. Some people even purchase on impulse so give them a reason to act on those impulses … don’t give them a reason to have second thoughts.

 

Referral Incentives
Getting others to talk about your service or product is another great way to promote your product or service. By giving people something (whether cash, gift or discount) for helping spread the word they are more likely to remember to assist you in telling others about you and your business.

 

Create an Urgency
As I stated, many people buy on impulse so why not feed that impulsivity. Create a reason why they need to buy now. Limited time offer. Only 99 available. Don’t waste another minute or another dollar … I think you get the idea. When creating an urgency remember two things … a) make the urgency real – if you say you have 99 then you should only have 99; and b) the incentive to act on the urgency is maximized when you market to a person’s problems – give them the solution they need.

 

I urge you to try just some of these ideas in your business. Many entrepreneurs realize that running a successful business takes a lot of work and find themselves frustrated when business takes a downturn. The most thriving businesses are those that can see a downturn as a challenge, rise to the challenge and then hang on for the ride.