Business

How to make your product better and cheaper at the same time

If you’re in the sales game, then you know you need a great product for your business to succeed. Without a solid product, it is impossible to build that desired word of mouth that every company needs to survive. But companies should also strive to improve their products. Consumers evolve, as do products, but that can be difficult if you’re not prepared to handle the added costs. But what if someone told you that it’s 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 that you can. Just follow these steps to make sure it happens:

1. Develop the best product you can at the time.

If you can build a strong product from scratch, then it’s easy to get the things you need to go back to the lab and experiment with improvements: customer feedback. Your customers, once they actually use your product, will be able to tell you what works and what doesn’t. Every customer knows that companies and products are not perfect. It is how a company responds to these imperfections that sets it apart from the rest of the competition. Are you the type that will listen to your customers or keep banging your head against the proverbial wall?

2. Incorporate customer suggestions.

You need to assess your target market thoroughly before you start selling to them. Once you know who they are, you’ll also know that you can trust their opinions. While a person may have an unreasonable complaint that defeats the purpose behind the product, if the same comment starts coming back multiple times, he may want to start considering it in a second generation of the product. If customers know you listen to them, they’re more likely to try your next-gen model and 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. And if you have a market that is already willing to back you up with their purchases and testimonials, then it’s easier to negotiate with manufacturers about future production of your product.

With all of these factors in place, it is possible to not only get a better price, but also create a better product. Don’t try to do everything at once. It will not work. Instead, do your best, listen to your customers, and then use their feedback to find the right manufacturing company for mass production.