How to outsell your Competition
Outselling your competitors is all about mindset. Your mindset. Your employee Mindset. Your customer Mindset. Think about your product. Now, describe the product entirely from your point of view. Ask yourself some questions and answer them completely and honestly.
Would you purchase the product or the service that your business sells at the price that your company sells it for? Do you have absolute confidence that the product that you are offering to your customers lives up to the claims that you make about the product or services? Do you believe that the product that your company sells is the best on the market at the price that you are offering it for sale?
Now, describe every product or service that you offer in detail. Include the following information on each product: what is it, who manufactures it. If you do not manufacture it, does the manufacturer have a good track record as far as quality is concerned?, how is it used, how is it packaged, why would customers need it and how would customers benefit if they purchase the product or service from your business.
Customers view your product differently than you do. You created the product or service, therefore you are bias in opinion. Surely you would not knowingly market and sell something that you know does not live up to standards, or would you? Does your business sell benefits or liabilities?
Now, do some research! Some of the answers will hurt, but only until you fix the problem. Then sales that come in will make you smile again. Not everyone has the same likes and dislikes; you might find that your customers might want something completely different, something that you can also make money with.
How does the customer rate your product or service as opposed to other businesses of the same type?
How does the customer describe your product or service as opposed to other products and services?
Ask the customer what they appreciate about your products and services. Ask them how they would change the product or service if they could.
Does the customer value your business, product or service?
Would the customer purchase your product or service above any other competitors’ product or service? Why?
Are you happy with the outcome of your research? If not, do not despair. Every problem has a solution.
The above exercise must be done to compare your product or service with that of your competitors. Now improve your products and services and your business will become a preferred business.
Once your products and services have been improved, look at other factors that would increase your business ability to make more sales. During economic downturns the price of services and products does have an effect on sales. If it is not possible to lower the price can you increase the value of the product by finding other benefits of the product and service which other businesses do not list on the product or in advertisements.
Can you advertise your product so that the customer values the product differently? Some months ago a company that sold general groceries advertised that they were cutting the cost of packaging so that the customer would get better value for money. In other words they told the public that, yes, we are able to give you “wow” packaging or we can give you simple packaging with much more product in the simple packaging at the same price.
Guess what the majority of the population started buying? The majority are poor and need the product to last longer; they do not care about the packaging since they know the packaging goes to the dump. Why pay for something that has no further use?
What about the quality of the product. Can it be improved to perform better without increasing the price?
Do your customers have access to real people if they have complaints and do the business exchange products without quibble?
Is the staff knowledgeable, capable and friendly? Do they attend to customers immediately? Are they able to provide the customers with alternatives or valuable information which can help them when they use the product or service?
Do you have regular brainstorm sessions or meetings with your sales personnel? If not, NOW is the time to start!