First the idea, from the idea to the plans and from the plans to action, and what happens next? Instability, success, instability and so on. We live in a context where it is common to see business owners flourish constantly.. We run out of patience but never the ideas that work as the engine for our work.
Usually a business is born as a result of enthusiasm and with an innovative value proposition, or with the necessary capacity to generate a certain impact in its community of consumers or possible customer base.
In the best of cases, the project grows and in only a few cases, this growth is excessive, that is, far exceeding our expectations.
Why does a business grow more than expected?
Although it may be due to external issues (such as changes in fashion and the consumer culture of one or more social groups in general), it is more likely that it is something rather specific within the business.
One of the first rules of marketing is, Before investing, know what we invest for. And this must be transferred not only to the specific money that we could use for an advertisement, but also to our time.
If we use a large part of it to tirelessly produce a product or we also invest time in publishing it on social networks, but we neglect the measurable aspects of our work, we will most likely never finish fully understand the real value of what we do and its profitability.
That is why it is more than recommended to make a count of all the actions that lead us to achieve a successful sale of our products.
Businesses that fail in the short term
Because the economic stability of Latin America is not something we can count on, it is very likely that your audience will find themselves in a situation that leads them to cut their expenses, and the reality is that if they do not consider that your product is ‘necessary ‘, you will not want to acquire it.
But what is really ‘necessary’ in a world where millions of users spend thousands of dollars on devices such as cell phones, with the same features as the one we bought less than a year ago?
This is very interesting and the response of a publicist would be: because the need to have a cell phone is excellently created; just as the need to have perfume is created.
One does not stop covering their basic needs for not having a cell phone or a perfume, but the culture of consumption leads us to consider that we need these items. How? With a correct positioning of each brand and product.
Generate the need to consume your product
Taking into account that without consumers your business does not work, how can you sell it better? In principle sales are achieved through marketing and communication strategiesbut we believe that the challenge comes later.
When you already have regular clients and a certain stability in your business, what happens? Why can’t you keep growing? And the answer is surely a lack of organization.
Organization is the key. That is why we bring you 2 specific measurement and management recommendations that will allow you to know in greater depth the ideal scenario to plan the next commercial actions of your company:
1) Business analysis
You have to let go of excel at some point and invest in a management system to automatically obtain information about your business.
What systems are there? Many are online and have an advantage over offline ones, since they connect properly with the Treasury and with the other tools you use to sell, such as your ecommerce.
There are some online management systems that are intuitive and easy to use. They not only allow invoice, record expenses and control stock and prices of products and services, but also turn that information into data.
They provide useful numerical and graphical reports on monthly and annual sales amounts, sales profitability, best-selling products, and more financial and tax reports for your business.
These tools help internal administrative control but also to consider flagship products for special dates such as Hot Sale or Cyber Monday, for example.
2) Online stock analysis
When we talk about data, it is impossible not to mention : It is a free Google service that offers real statistics of your different web pages and landing pages.
Google Analytics allows you to obtain very relevant data such as the number of visitors and visits to your website, the average duration of the visit, the average number of pages viewed by each user and geographic or sociodemographic reports (language, location, Internet provider, mobile device , etc).
It also provides more complex information such as the performance of your Google AdWords campaignthe percentage of conversions that your website receives, the behavior of users in a purchase process and the reason why users leave your site, in addition to many other variables.
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