Whether you sell a product or service, you are asking customers to make a decision.
And it is one of many they will make each day.
When faced with a choice, one area that is sometimes overlooked is the replacement or incremental factor.
Today many customers are looking at what they will replace when buying.
This is especially for potential new customers of your business.
This can be due to their budget or it could be because they do not want to make yet more buying decisions.
Today they are looking for businesses that make the buying decisions simple.
When you develop your marketing strategies two questions to ask are:
- Do your products or services replace others they no longer need to buy?
- Are they additional to other things customers have bought.
These answers include your products and services and your direct competitors. They can also include products or services in other segments.
For example in the grocery market, you see a number of products that are being marketed as replacements, such as laundry detergents with stain removers.
Not only do they replace the need to buy both separately it also saves time. This is at the point of purchase and because they do not have to worry that, they will run out of one before the other.
If you offer a service is it additional to what they already buy or is it seen as a replacement.
Replacements can be in terms of time saved especially if your customers are doing things themselves.
For example if you provide content or articles for your customers are you promoting your service as yet another content provider?
Or as a time saver as they no longer have to worry about sourcing, writing and publishing content.
It may take putting your creative thinking hat on. However if you can be perceived as a replacement with benefits it can give you the competitive edge.
You can also look for opportunities to get customers by observing and listening.
And it is another way of using simplicity to attract new customers and grow your business.
As always I would like you to share your thoughts. Could replacement versus incremental work for your business?
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