Billy Brophy’s Post

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Sharing my knowledge of Branding and Storytelling for restaurant owners since 2016. Check out the business wisdom here!

Branding Bard's Sales Tip For 5/2/24: Today's tip revolves around how the problem that you solve for your target customer must be strong and common enough to make your Brand a decent amount of money rather than being too weak or niche to do so. Example: Chapped Lips are a common enough problem to make a product-service for solving. Meanwhile, the desire for a Rockabilly Music Club to satisfy it's local fans is probably too niche for many communities. Example: Arthritis is a strong enough problem to solve for customers with a product-service due to the amount of issues it causes. Meanwhile, demand for a Food Truck that specializes in Sardine-based entrees wouldn't likely be strong enough to make money off of. The cost of your product-service to customers must also be less than the cost of allowing their problem to keep on going. Otherwise, a high cost to solve a problem that's not equally or more high on a customer's priorities won't work in your favor. Example: A pack of mint gum for most customers will cost less than the cost of keeping bad breath. Therefore, higher sales are likely to occur. Meanwhile, an "ultra-premium toothpaste" with groundbreaking technology might cost more for many than the cost of keeping bad breath. Lower sales are a likely result. Example: Red Bull costs less for many customers than the cost of keeping Inattentive. Therefore they enjoy high sales. Meanwhile, an over-the-counter "revolutionary cognition supplement" might cost more for many than the cost of keeping Inattentive. Therefore their sales are lower than desired. Overall, keep the strength of your customer's problem in mind that you solve when choosing a product-service to sell and controlling it's costs. Otherwise, you might face lower sales than desired. Thank you for reading and feel free to contact me for a Branding consultation. #sales #selling #sell #sale #branding #personalbranding #brand #personalbrand #entrepreneur #entrepreneurship

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