5 Defining Elements for Creating Demand for Your Products and Services

There are a variety of ways to create demand for your products and services. Most new entrepreneurs forget the defining elements that start creating demand. Try these elements with their corresponding action steps to increase interest in your products/services.

1. Be very clear on your preferred client and understand the underlying problems not just the symptoms.

Action Step: Most new entrepreneurs forget to ask their customers their main source of frustration or challenge. Create a database and ask your clients about their most pressing question they have about….(fill in the blank based on your client.) If you’re a CPA, ask potential customers, “What is your most pressing question about keeping track of your financials?” Remember this is your preferred client. Symptoms can reveal underlying problems so you may want to word the question, “What is your greatest challenge about ….” To entice them to complete the survey, let them know they will receive a white paper of the results once the survey is completed. Make sure you get their email so you can send it to them when you've collected the information. Their responses give you market data and you can create programs, services, or products that solve your customer's problems or challenge.

2. Identify the critical results:

• Your client has not yet identified
• Your client doesn’t understand
• That is preventing your client from achieving breakthrough results
• That is holding your client back from better results

Action Step: Your database may reveal this as well by posing a question, such as “What are the critical results you want to achieve but haven’t? What has gotten in your way? Again, use the information to provide quality products and/or services to your customer.

3. Focus on results and create value by educating them.

Action Step: Make sure your mesmerizing marketing messages focus on results that your customer wants or needs. Consider giving them a first step solution, which could be in the form of a free gift or product that you develop. This is a good way to start developing trust with new customers/clients. They begin to know you and receive a free product they can use immediately. Make sure your solution focuses on helping them solve a problem or reach a result that is important to them.

4. It’s not about you – it’s about them. Create the relationship and focus on their needs.

Action Step: Most business owners make the mistake of telling everyone about their services but fail to have a conversation with the customer on what is important to the customer. Make sure you're asking your customers about their greatest issue and what's most important to them. Be ready to let go of the customer, too. Your product/solution might not be the best solution for them at that time. Have a list of resources you can refer them to. You can create demand for your products and services by being the go-to person who knows people who have the answer. It's not always about what you can sell, but what you can give to others to help them solve their problem.

5. Monetize your solution or services.

Successful business owners realize that they cannot be everything to everyone. The hours for dollars will only go so far. Systems that monetize your business can bring in income consistently and systems, if created correctly, can work seamlessly. Consider these options in systematizing and monetizing your services:

-Create digital products attached to your shopping cart so once a person purchases the item, they receive the digital download instantaneously without you having to do a thing.

-Develop low, medium and high end products. If you only have high end products, you could be missing out on other income sources. Remember to ask your clients what would be valuable for them before you start creating product.

-Create an Affiliate program. Are there other businesses that are related but not in direct competition with you? You might want to consider an affiliate program that provides the other business with a commission for anyone they refer that purchases from you. This is a great way to compensate your referral partners and create demand for your products or services.

Action Step: Review your entire business model. What are the price points? Is there a low, middle and high end price point? Can you re-organize packages that require less of your time but can serve more people and price it at a different level? For example, one consultant had a $7,000 service (this was his highest price point). He found he also had a $20 product (this was his lowest price point). What was missing was the medium end price point. He developed a different level of service that fit in the medium end price point and created additional revenue without significant time executing the solution. He created a win-win solution for his business.
As you grow your business, remember these elements for creating demand for your products and services.