There are several factors that can influence the success of your business, such as audience, product, price, marketing message and channel, location, etc. It is up to you as business owner to manage these factors, separately and together, so that synergy is achieved.
Let’s start with your business’ location. It must be accessible to your audience, either physically or remotely via telecommunication or online. Already, there is synergy to be achieved between location and audience. Elements of location to consider are, appearance, signage, proximity, health and safety, etc. Ask yourself honestly whether your audience will perceive a visit to your business – via any medium – comfortable, beneficial, interesting and exciting?
It is not only your location that draws or deters your target audience. Your product or service plays a major role too. One can unfortunately not develop a product in isolation. It must resonate with your target audience’s needs, wants and expectations. If you’re selling food, people expect appetising pictures and luring text to awaken their senses. If you’re selling tours, your marketing message should stimulate your audience’s imagination and prickle their wanderlust. It becomes evident, at this point, that location, audience, product and marketing message are all part of an inseparable web, collaborating in the quest for sales.
It goes unsaid that everybody’s trying to save a buck or two where they possibly can. Price is most probably going to eventually distinguish your offering from those of your competitors. It is an integral link in the web that captures your audience’s commitment to make a purchase. Proper costing and research is necessary to set the optimal price for your service.
Finally, your aptitude and ability to sell will complete the web. If you are selling a necessity like food, fuel or clothing, it might be a bit easier to reach your sales target than when you are selling a luxury service such as tour packages or salon treatments. Selling is the art of convincing a prospective buyer that they will benefit from purchasing your service. Not everybody can sell. In my opinion, selling holds the majority share in your business’ success or failure.