Heyy guys, I am Rishabh Gupta, I am back again with a powerful topic and today’s topic is very interesting “How to expand your business without giving any discount“For those who have survived startup and built successful businesses, you may ask oneself how to take the next step and grow your business beyond its current position and then all do the same mistake of giving discount.
Today, mostly entrepreneurs and a businessman are making the same mistakes of giving discounts to expand their business scale.But today we will discuss to expand the business scale without giving any discount.According to experts business scale can’t be expanded by giving discounts the scale of business can only be expanded through business strategies and as we had discussed in our last post.If you have not read it then you can read it here.
In India, Markets are waiting to explode.According to survey as a share of India’s GDP, consumer spending stands at a 57%, compared to 72% for the US. That suggests that there is some $1.2 trillion worth of opportunity in India’s consumer sector and that’s the biggest reason which attracts the foreign companies for business in India.
And this is the advantage is enjoyed by China a lot that’s the result the Indian markets are fully covered with China’s product because Chinese companies work on the low margin and on discount strategy.So today we will discuss some steps to expand our business without giving any discount and how to acquire new customers.
Some Steps To Expand Our Business Without Giving Any Discount-
1) Identify the Critical Success Factor Of Your Customer.
First of all, identify the What makes your customer Successful? As all, we know in the market only that person can achieve the success who satisfies their consumer’s need.And also identify What is your customer’s money-making model? from where your customer earns money.Only selling is not your job, making your customer’s business success is also your job.Goods sell all a roadside vendor also sells their product but you are not a roadside vendor, so try to identify your customer’s money-making model.
2) Identify the Critical Success Factor Of Your Customer’s customer.
If you are a businessman then you have already known that in business relations matters and businessman can do this easily.In the above point we have discussed customers success factor but In this point, we have to identify the success factor of our customer’s customer.
You have to make a success chain and this said to be a successful consulting practice.You have no need to act like a salesman, you have to act like a consultant.If you get the success to identify the success factor of your customer’s customer then your customer can’t be left you.
3) Identify the Critical Success Factor Of Your Customer’s competitor
As we discuss in the above two points to identify the success factor of our customer’s and customer’s customer.This is also important to identify the success factor of customer’s competitor also.Identify the strategies of your customer’s competitor and identify what makes your customer’s competitor successful?
4) Where to focus?
Mostly organisations are making the same mistakes of adopting the old marketing strategies yet like giving of discounts for expansion, low price strategy, schemes and overdraft etc but these strategies are outdated and they work only for a fixed period of time.
If you really want to expand your scale without giving any discount then focus on your customer’s margin means to focus on how to increase your customer’s margin and revenue? and how to increase the speed of inventory turnover of your customers business and can you help them to increase their brand equity? Now, this is not a time for giving any discount it is the time to talk about your customers benefit from his liquidity, growth, productivity.