At some point in your life, you have likely encountered what is known as an armchair warrior. Someone who has a lot of criticisms and opinions about how to solve a problem but is not interested in being part of those proposed solutions. In looking for a reliable business consultant, it is imperative that you avoid these personalities in favour of someone willing to step in and do the necessary work to help you achieve your business goals.
In this fourth instalment of our Growth Advisory Services blog series, we will highlight the pivot AVASK’s business consultancy service takes, from conversations and research to synthesising the information gathered into action plans and usable strategies for your business.
This initial action stage includes things like building product analyses and customer personas, which we will expand upon below.
Perfecting the product: the benefits of product analysis
A diverse portfolio of product listings is usually beneficial for e-commerce sellers. But only if you make sure your portfolio contains the right products in the right marketplaces. This is where the product analysis stage of business consultancy comes into play.
When we conduct a product analysis, we help to identify which of your offerings generates the highest revenue and profit. Additionally, we can highlight opportunities to improve your products as well as new markets for those existing items.
We can also review the life cycle of your products. This cycle is comprised of four main parts: introduction, growth, maturity, and decline. In particular, the maturity and decline phases are important to look at; these products may need to be either updated or rotated out for more suitable alternatives.
Knowing which products would be suitable for your audience means creating profiles of your ideal customers, or customer personas.
Who is your customer? The importance of customer personas
In an ideal world, everyone would want to purchase your products. But the truth of the matter is that certain items appeal more to certain demographics and understanding these consumer trends is paramount in making sure your listings end up in front of the right eyes.
Once you know who you are selling to, you can better tailor your marketing efforts, packaging, presentation, and even product specifications to suit that demographic. That is why part of our growth consultancy service involves building out customer personas (sometimes also referred to as buyer personas or avatars).
In creating these valuable profiles, AVASK’s experts will look at multiple data points, such as:
- Background: Basic biographical details such as age, gender, etc.
- Job details: Title, key responsibilities, length of role.
- Attitudes: Likes and dislikes, motivators, career aspirations.
- Main source of information: Where this person does product/service research.
- Goals: What your customer wants to achieve in life.
- Pain points: Challenges, fears, frustrations, pressures, concerns.
- Buying process: What criteria they use in their decision process; what messages speak to them.
When consolidated into a snapshot of your ideal customer, they create a roadmap towards streamlining some of your company’s operations. This makes the exercise an important part of our consultancy services.
How can AVASK help?
AVASK focuses on e-commerce sellers and the unique hurdles they face, and we treat your business and entrepreneurial journey as our own. You will get the same dedication from your Growth Advisory expert that you would expect from your own business team.
Our business consultants are not afraid of rolling up their sleeves and doing the work to help you realise your goals and dreams, because we celebrate our clients’ wins as if they were our own.