Wheels: product / service

The “Wheels” of your marketing motorcycle represent your core products or services. These are the tangible offerings that carry your business forward, engaging customers and generating revenue. A well-structured product strategy isn’t just about rolling out compelling products, it’s about maintaining the traction and momentum that drives your business success.

When your “Engine” is well-tuned, you can streamline your operations, automate repetitive tasks, and ensure every part of your business is working in harmony. This includes everything from your CRM and project management tools to your website, payment processing, and digital asset management systems.

A robust “Engine” enables you to work smarter, not harder, accelerating your journey toward your business goals. But like a real engine, it requires regular check-ups and maintenance to ensure it continues to function at its peak performance.

Here is a checklist of key actions you should take to ensure your “Engine” is in “Pole Position”:

How to improve

1. Define your core product/service range: The base of your business success lies in understanding your primary offerings. Define them clearly, ensuring they’re distinctive and beneficial to your customers.

2. Develop a lower barrier entry product/service: Design a product/service that’s accessible to potential customers, acting as a gateway to your more premium offerings.

3. Create upselling opportunities: Develop premium or advanced versions of your core offerings that can add more value for your customers and increase your revenue.

4. Implement a recurring business model: Encourage customer loyalty and repeat business through subscription models, loyalty programs, or ongoing service agreements.

5. Optimize product visibility online: Make your offerings easily discoverable on your website. Use high-quality media assets and create informative and engaging product landing pages.

6. Benchmark against competitors: Regularly compare your offerings against your competitors. Are your products/services superior in terms of features, benefits, or value?

7. Prioritize high-margin products/services: Direct your marketing efforts towards products/services that generate higher profit margins.

8. Track and improve customer purchase frequency: Monitor how often customers are purchasing your products or services, and strategize to increase this frequency.