Few people run companies without trying to save money and time. However, a common mistake is to waste money on inefficient advertising campaigns. Run a business that markets software products to other business owners who genuinely need them. It can be a different, more exciting challenge than trying to attract simple consumers. Here are four ways to know that your products are being sold to the right businesses.
Target the Correct Demographics
Target your consumer demographics to find out which business owners benefit the most from using your software. Marketing is an expensive venture that costs thousands of dollars for any business, so know the types of businesses you are targeting. Don’t just put your new product on the market and hope for the best, Toby Scammell, the founder of Whomply, explains at medium “But in the small business market, you have tons of customers, each of which spends very little. To boot, small business customers need simplicity over the complexity of excessive features. Therefore, the biggest challenge in selling software to small businesses is not justifying a price increase, but rather increasing customer count.” This means you need to specifically tailor your product to the company type you are looking at selling to.
You can not satisfy everyone. It is unfortunate, but there will always be something about your product or service that simply does not work for some people. The key in these situations is to use the feedback you receive to either improve your product or consider where you are marketing it to. Is it too costly? It might be that you are targeting the wrong sorts of businesses. Is there a competitor who they prefer? Why do they prefer him? Is the product just not standing out in your customer’s minds? A good strategy to acquire feedback like this, particularly in Software as a Service, is to offer a free trial period of your product. It can give you valuable feedback as to the performance of your product and the desires of your target audience.
Connect With Similar Industries
One of the most fundamental skills any business owner needs to have is the ability to network and stay connected with fellow businesses. Developing a mutually beneficial relationship with those in a similar industry as you is vital to locating new customers and expanding your industry across the market. If you specialize in inventory software, for example, it might be beneficial to connect with channeling software developers to ensure integration and find businesses that would like to benefit from this relationship.
Stay Up To Date With Technology Trends
With the rapid speed that software evolves, it is necessary to stay informed of any technology changes so you can adapt your software to the changing market trends. Now, more than ever, with the evolution of automation tools, and development of complex software a business needs to know what is going on in their field practically every day to ensure they stay ahead of the competition. In line with this, never stop experimenting to see how you can turn your product into a one of a kind necessity that will floor your competitors.
There are millions of business owners out there, and in the business-to-business industry, you may find it necessary to contact every one of them. One of the advantages is you are able to build a personal relationship with the businesses you market to. It is easier to connect with, and remain connected with, those customers who have bought your product before.