How Business Owners Can Use the S.A.V.E Model to Drive Sales

The traditional 4 P’s  of marketing - Product, Place, Price and Promotion has been modified to the S.A.V.E model – Solution, Access, Value, and Education. How can small businesses use this new framework to reach more customers and make more money? By understanding and using this model, small businesses and entrepreneurs can design and define their unique selling point.

Sell a Solution:

As business owners, sometimes we tend to focus on the features and functions of our products or services. We tend to concern ourselves with the fact that our products use the latest technology or even the best form of advertising. The truth of the matter is that customers will rarely buy a product because of special features or technological advancement. The client is driven by two things need and solution. In designing our products or a service, one key question to keep in mind is – Why do customers need your product? What solution does this product help the customers to solve? It is easier to sell based on needs and solution as opposed to unique features or improved technology.

So let your products be driven by the needs of the customers and solving a problem the customer has. When you think about this, brands that have remained relevant over the years understand this approach. For example, Coca-Cola sells refreshment and feelings as a solution. The solution you sell might be as simple as convenience. So come up with one word that describes the solution you sell.

Sell Access:

Customers want to know that they can easily access your business or service. They are not necessarily concerned about the location of your business as long as you provide an easy access –access could be in the form of fast delivery, instant replies either through social media channels or via email. Customers want to feel the support of your business. They want to see how you interact and engage with your existing customers to understand if they would be ready to take the plunge.

The fact is, the location of your business is irrelevant these days; the focus now is how available is your business the moment the customer needs your product or service? As small business owners what you need to do is leverage social media platforms – You need to understand who your ideal customers are and what social media platforms you will find them. For instance, if your target is university and college students, the most popular platform to interact with them is Twitter, Snap Chat or Instagram.

Sell value:

Research has shown that customers are often willing to pay more for better products or services. Customers sometimes do not care about price. While pricing is a key determinant to whether they will buy or not, pricing comes after they understand the value of the product or service. Businesses should clearly communicate the benefits and value of your products or services to their customers. What value will customers get from using your products or service?

Educate instead of Promoting:

One of the fastest ways to build a client base is by providing educating information. As business owners, you have the opportunity to provide your existing and potential customers with up-to-date information that can help them improve their lives or business. Educating and sharing relevant information with your customers can help you build trust and loyalty even before the customer buys your product or service.

This approach gives the customer a sense of belonging or familiarity with your brand. When customers feel like a part of your business, they are more willing to refer you to friends and family even though they may not presently need your product or service. Some ways you can educate your customers is by sending them newsletters, eBooks, educative blog posts, interactive websites, etc. Although your aim is to sell, customers should not feel like you share this information only to make a sale.

As a business owner, using this S.A.V.E model will allow you to focus on selling solutions to your customers. It will also help in new product development as your products will be customer-driven to provide solutions, access, value, and education.