{"id":5021,"date":"2011-11-16T08:59:05","date_gmt":"2011-11-16T08:59:05","guid":{"rendered":"http:\/\/www.questionpro.com\/?p=5021"},"modified":"2011-11-16T08:59:05","modified_gmt":"2011-11-16T08:59:05","slug":"what-to-do-when-your-crystal-ball-is-on-the-fritz","status":"publish","type":"post","link":"https:\/\/www.questionpro.com\/blog\/what-to-do-when-your-crystal-ball-is-on-the-fritz\/","title":{"rendered":"What to Do When Your Crystal Ball is on the Fritz"},"content":{"rendered":"

\"image\"Yes – your\u00a0colleagues probably think you have ESP when it comes to coming up with new products and services. \u00a0You know that it’s hard work that usually includes hard work on the back end.<\/p>\n

Here are a few strategies you can use to expand your product offering in ways that appeal to both your customers and your bottom line.<\/p>\n

    \n
  1. Data Mining and Customer Analysis<\/strong>.\u00a0 Although it\u2019s tempting to jump in and try to do anything, take the time to ask your customers what\u2019s important to them and what other alternatives they are considering to solve their problems.\u00a0 Check out online survey tools like QuestionPro<\/a>\u00a0, Survey Analytics, Survey Swipe or IdeaScale.<\/li>\n
  2. Add new products<\/strong>.\u00a0 Consider the possibility your customers want something else. Do your research and check your profit margins before you expand your product lines.<\/li>\n
  3. Find new markets.<\/strong>\u00a0 This is a favorite strategy.\u00a0 Look for emerging markets that have a need for your product or capability.\u00a0 Open your mind and ask \u201cwhat if\u201d or \u201cin what ways\u201d questions to see how to penetrate more profitable markets.<\/li>\n
  4. Try different distribution channels.<\/strong>\u00a0 Distribution means being within arm\u2019s reach of your customer and their wallet.\u00a0 Think of the different ways you can do that; email, direct marketing, catalog, direct sales, kiosk, manufacturers rep.\u00a0 The possibilities are endless.<\/li>\n
  5. Direct marketing to target customers<\/strong>.\u00a0 Three-dimensional, snail mail marketing is still extremely effective.\u00a0 Select a target group of customers and send them special offers. \u00a0Use email marketing tools like Constant Contact to develop segmented mailing lists.<\/li>\n<\/ol>\n
    \u00a0<\/span><\/div>\n","protected":false},"excerpt":{"rendered":"

    Yes – your\u00a0colleagues probably think you have ESP when it comes to coming up with new products and services. \u00a0You […]<\/p>\n","protected":false},"author":128,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[180],"tags":[428,1007,1008],"yoast_head":"\nWhat to Do When Your Crystal Ball is on the Fritz | QuestionPro<\/title>\n<meta name=\"description\" content=\"Yes - your\u00a0colleagues probably think you have ESP when it comes to coming up with new products and services. \u00a0You know that it's hard work that usually\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.questionpro.com\/blog\/what-to-do-when-your-crystal-ball-is-on-the-fritz\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What to Do When Your Crystal Ball is on the Fritz | QuestionPro\" \/>\n<meta property=\"og:description\" content=\"Yes - 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