How To Sell A Product

    

 

This tutorial will describe how to promote and sell a specific product.  The same principals used in this tutorial can be used to promote any product or service.  If you need specific details on how to promote a product that you are trying to sell, please contact me.

 

To start, we are going to assume that you have already picked your product or service and that you know and understand your target market.  We could spend hours just talking about those two topics.

 

Step #1  Know Your Competitors

 

Chances are that someone else will be selling the same product as yours.  What is their price?  Where do they sell it?  Do you have some sort of advantage over them?  Lets break this down a bit.

 

Price

If your competitor has a lower price than yours,  you automatically lose part of your target market.  In today's economy, people are sensitive to price.  If company A sells the product for $50 and you sell it for $60, part of your market has disappeared and will never buy from you.  If you choose to continue promoting this product even though you have a price disadvantage, you need to make the customers want to buy from you.  Again, I could go on and on about how to "brand" your company and make customers trust you. 

 

Know where your competitors sell

Knowing where your competitors sell items can help in two ways.  First, it can let you know where you should be trying to sell.  Second, it can let you know where you shouldn't sell.  For example, if you see that your competitor is constantly advertising in the local newspaper, chances are that those ads work for them and they should work for you as well.  If you hear your competitors advertisement on the radio week after week, they must be getting good results and it may be advantageous for you to do the same. 

 

What about places where you shouldn't sell?  For example, Amazon Marketplace.  Many products are listed on Amazon and are usually at a very low price.  If your competitor is selling your product on Amazon Marketplace at a low price, you may not want to be in direct competition with them on that website.  Look for anothe website to list your product where you have a competitive price advantage.

 

What are the advantages of buying from you?

 

There are many things you can do to give yourself an advantage over the competition, here is a list.

 

  • Provide free shipping or delivery
  • Email your customer list a promo code to receive an additional percentage off on their next purchase
  • Get your customers their products as quickly as possible for the least amount of money (ex. Zappo.com's overnight shipping)
  • Provide excellent customer service
  • Offer a bundle package (buy this product get a different product at 50% off)
  • Offer layaway (retail stores)

 

Step #2  Connect With Your Customers

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