Guest post by David S. London
Every business sets out to be successful, but with today’s changing market conditions and demands, retaining customers and achieving overall success is more difficult than ever. So how can companies use their product features to achieve increased customer retention rates and inbound sales enquiries? A seasoned business manager shares his secrets:
At CPV Manufacturing we’ve learned through over a century of growing our business that ensuring product value along with product versatility can help.
Product quality, or the usefulness and reliability of an item or service, can help to achieve success for any business. The higher the quality of the product being sold, the more likely that people will purchase it. In fact, many are willing to spend extra for products that are deemed to be of higher quality because they tend to be more dependable and last longer. This is because consumers want to make investments in sturdy products that operate smoothly for years to come.
With that said, it’s important to understand that businesses should never skimp on the materials or the construction processes of production.
While costly, the materials make the product. So you always want to make sure that you use high-quality materials for everything you sell to ensure that it works properly and is durable enough to last for years to come.
A product that’s versatile is more useful to consumers. This is because everyone is looking for that “super product” that can do everything it’s designed to do and then some. Take smartphones, for instance. Every year, the most popular smartphone brands rake in record sales numbers because they add new innovations to each device that let consumers do more without purchasing another product.
Product versatility doesn’t just benefit the customer, though. By offering one product that features multiple uses, companies spend less on production costs. The money saved can then be used to further obtain high materials to ensure higher quality goods.
Benefits of Product Quality and Versatility
Ensuring product quality and product versatility are two of the best ways to secure long-term success for any type of business. Since consumers want the high-quality items that can do everything they need and much more, you’re certain to see sales and customer retention rates rise.
On top of that, implementing these types of products and services into your business model can help you to attract new customers and enhance your branding efforts. When you sell a high-quality product that’ delights your customers, users will get more out of it. Essentially, they get a better experience with it than other similar products on the market.
As a result, these satisfied customers will spread their great experience with your company’s product or service by telling others. The additional word-of-mouth marketing will help your company to become a top trusted brand in the industry. This will help you to attract more prospects and retain more customers as well as increase revenue and lay the foundations for overall success.
With constantly changing demands, businesses can have a difficult time retaining customers. However, ensuring product quality and product versatility can help. So never skimp on the quality of the products you’re creating and make sure that they’re useful to a variety of consumers.
About the Author:
David S. London is VP of Sales for CPV Manufacturing. London has over 30 years of experience in manufacturing operations and business management.