How To Make Your Product Better And Cheaper At The Same Time
July 26, 2017
If you are in the sales game, then you know you need a great product in order for your company to succeed. Without a solid product, it is impossible to build that sought after word of mouth that every business needs to survive. But businesses should also be striving to make their products better. Consumers evolve, and so should products, but that can be difficult if you are not prepared to handle the added costs. But what if someone told you that it is possible to make your product better and cheaper at the same time? Would you believe them, or would you call them crazy. The good news is, you can. You just have to follow these steps to ensuring that it happens:
1. Develop the best product you can at the time.
If you can develop a solid product starting out, then it’s easy to get the things that you need to go back to the laboratory and experiment on improvements: customer feedback. Your customers, once they actually use your product, will be able to tell you the things that work and the things that don’t. Every customer knows that companies and products are not perfect. It’s how a company responds to these imperfections that set them apart from the rest of the competition. Are you the type, who will listen to your customers, or will you continue to bang your head against the proverbial wall?
2. Incorporate customer suggestions.
You should evaluate the target market thoroughly before you ever begin selling to them. Once you know who they are, you also know that you can trust their opinions. While one person may have an unreasonable complaint that contradicts the purpose behind the product, if the same feedback starts to come back multiple times, you may want to start considering it in a second generation of the product. If customers know you listen to them, then they are more likely to try your next gen model, and to tell their friends about you.
3. Mass production.
With customer satisfaction comes bargaining power when it comes to mass production. The more of your product you can produce, the cheaper the costs will be. And if you’ve got a market that’s already willing to back you with their buys and testimonials, then it is easier to negotiate with manufacturers on the future production of your product.
With all these factors in place, it is possible not just to get a better price, but to create a better product. Don’t try to do everything at once. It won’t work. Instead, put out your best effort, listen to your customers, and then use their feedback to source the right manufacturing company for mass production.