How to align the interest of buyers and sellers with your business model

This is the most important portion for any business to align the interest of buyers and sellers to grow the business in a much more professional way. Perhaps, it’s also a very difficult way to follow, for any kind of start-up business. Especially when it comes to quality, quantity, pricing, choosing the right type of products or inventories, etc. at the same time the customers are very careful about each of the following elements. We can say that both buyers and sellers have their interests and both of them are pretty much conscious about the same objects. Now it becomes tougher to comply with the desire of both buyers and sellers.
business model

A lot of companies have maintained the strategy and made sure that they have earned the trust of their customers by decreasing the profit and increasing the sales. That’s the reason why many of them became so-called brands. At the same time, small companies are far behind in making a good recognition, and the result impacts their whole system to grab customer satisfaction. But still, some of the companies manage to survive due to their potential financial resources. Any start-up company needs to establish itself with a strong financial structure so that it can turn around with any upcoming obstacles. Any business needs to ensure the priority of the customers and that’s the main key for any business to build its position very strong. 

Any business needs to follow some very crucial points to comply with the customer’s needs.

 
  • Maintaining very good communication with the buyers can be an innovative initiate where most of the sellers fail to follow these particular issues. Every relation or business starts with communication, so, the more you can focus on your communication skills the more you can create the chance to attract your customers. There’s a saying “the first impression is the last impression” and it starts with positive communication.
sales goals
  • Every business needs to follow some different methods where they can set their very own
    Marketing strategy, sales goals, financial plans, communicative process, a legacy of their service, a unique concept of their products and these are the fundamental changes that can equip their business in their very own decoration.
  • Advertisement of the product is one of the most valuable and crucial parts for almost every business to make publicity. This is as much necessary as the business start-up. The business gets more reliable towards marketing and is more effective to grab the customer’s attraction. Most of the businesses miss this crucial portion as some of them think it’s a waste of money. Instead of advertisement rather they go for the quality of the products. But if you forget your standing or the main object you never can survive whether it’s a business or something else. You have to explore the market for the betterment of your business and have to think out of the box to create a strong profile for your branding. Now it depends on the product that what should be the marketing concept, cause different products are used for different purposes and variant kind of audiences have their different demands. So, it’s very important to research the product knowledge and keep update yourself about the generations. It became very easy to advertise your products nowadays. From television to social media marketing, you can target your audience and keep track of them. According to Google research, it says more than 4.66 billion people use the internet. Now it became so popular to advertise your product on social media and you can get maximum reach of your product without any hassle.
  • Researching, exploring, comparing with the same products available in the market is quite necessary. It’s a very compatible way to have better knowledge about the current market to create a perfect pricing frame for your product in case you have a lack about the present market. Despite you have your tactics, strategy, unique concept of management still you should keep your eyes open so that you can re-arrange in case if you want to change the structure of your system.
  • Keep all the documents updated unless you’re not in a bad situation. Your business legacy, all the necessary documents, license, property documents, tax returns, bank statements are very obligate in case you are in a need of financial support either from a local bank or private lender. These things will help you immediately to cope up with the unwanted obstacles. Local banks always should be the first choice to help your business in any kind of obstacles, but it takes time to get you the approval for a secured loan but the rate, terms, and conditions will be very flexible. On the other end, the private lenders can get you the money ASAP but they will charge you a very high amount of interest and overleverage your business with their 30%-40% interest. Instead of overcoming your obstacles, you will be trapped in a danger zone. So, it’s always preferred to work with a local bank, because they don’t need any kind of collateral, mortgage any personal guarantee. It will take 2-3 months to get you the approval to process all the needful documents. Once you’re done with all the documentation you will get a very smooth payment. Monthly payments are likely given most of the time. The time frame will be stretched up to 15 years. There are different types of programs for different businesses. Some programs have been renovated for the Covid-19 situation as well and some of the banks also provide start-up business loans as well. It’s always obligated to keep yourself updated with the financial status. It’s the backbone of any kind of company. The companies who have kept their documentation updated, are much more reliable rather than the other non-arranged organizations or companies.
  • The relationship between buyer and seller is the most amazing part of the whole system so it’s the most important part for a seller is to ensure the after service of the product. It’s seen in most cases that sellers just maintain the relationship until they sell the product, once the product is sold, they even don’t know the buyer. But this is very poor conduct from the seller, cause if you want to make a repeat customer you have to believe in after-sale service. This is how popular brands work and keep their reputation for decades after decade and ages after age.
  • Delivering products to the customer’s doorstep can be a very impressive initiative to build the relationship stronger in between seller and buyer. Nowadays technology is far better than the previous days, everyone loves to work in shortcuts. People prefer flexibility want to save time and everything is getting online-based day by day. So, if you want to earn more reliability, trust, first choice of the customer you will have to take care of their responsibilities until they are fully satisfied with your service. The deliverymen who deliver the products can be a very effective asset to make the relationship deep with the customer. It’s almost everywhere seen that face-to-face communication is far better than distant traffic. Nowadays it’s a very fabulous concept to run your business online instead of the physical business.
  • Using authentic inventories and the best equipment to make your product the best in the market. Most of the time we see many companies focus on their attractive packaging, invest a huge amount of money in advertisements but they miss the main part which is providing a good service or product to the customer. Or some of the companies just earn the trust of customers by providing good products at the very beginning of their journey, once they get well established, they just forget about the quality and provide the worse service ever. Therefore, it’s significantly obliged to keep the balance of the investment either on the product or the advertisement or anything else. Importing inventories, raw materials, etc can be a very trickery initiative to keep the workflow very effective.

    These are some very authentic tricks on how the interest of the buyers and sellers can be aligned, although the major part of building a relationship goes to the seller. Still, buyers also have some responsibilities to follow to make the bonding stronger.

  • Buyers also should maintain a positive attitude while any kind of transaction, they also should keep a smile on their face while talking to the seller.
  • Buyers should cooperate with the seller while bargaining about products, they also should offer at least a minimum range of money so that seller doesn’t get obsessed.
  • Not confusing the seller asking frequent questions is one of the most important matters to think about. Sometimes it can be frustrating for the seller if the buyer chooses different products at the same time.
  • Buyers should keep patience if there are any technical errors or the seller is facing any problem during the transaction, If the seller delaying product delivery or having trouble finding the right product.

    So, in the end, we can say, if we want to make the world better then we will have to start the goodness from ourselves. It’s never easy to align the interest of the sellers and the buyers but every impossible thing has to come to an end and if we work together on these things, then we obviously can make changes to the whole world. And of course, the business is not out of this world. it’s possible to meet the different interests of different people. So, if we want to align the interest of sellers and buyers, we can follow these potential steps.

 

Jiten Thakkar

Jiten Thakkar is a Digital Marketing Consultant who specializes in SEO, paid ads, content marketing & growth hacking. He is the founder of Local Forever, a complete directory platform for local businesses that helps them in online presence, marketing and complete website creation. He has consulted various brands and business owners in multiple countries to guide them towards actionable result-oriented digital marketing strategies.

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