If you believe in your product or service, share your confidence and enthusiasm with potential buyers or clients. It may sound simple, but breaking into established markets requires a great deal of hard work and resilience
Create a “must-have” factor
Find a feature of your offering that’s unique in your market. Ensure that all your sales materials emphasise this feature.
Research the targeted market
Ascertain market information that will assist in the sale of the product or service. The market analysis has five basic factors that indicate what you can sell in that market. Those five factors are:
Contact everyone you have done business with in the past. Ask them if they know anybody who might need your services or products. Then ask for a personal introduction. When you sell as the result of a referral, you’ve already cleared many of the risk hurdles.
Create a “no-risk” guarantee
Make sure that it’s clear to the prospect that you don’t expect to get paid unless your product or service does exactly what you claim it will do, and more.
Before you embark on the market analysis process think about your market:
- Establish if there is a market for your products or services
- Develop a marketing plan
Focus on customers
Everything you do in business must be customer focused, including policies, warranties, payment options, operating hours, presentations, advertising and promotional campaigns. In addition, you must know who your customers are inside out and upside down.
You can’t beat personalised attention
The most significant competitive edge to have over established competitors is the offer of personalised attention.
Build a good reputation
A good reputation is unquestionably one of the most tangible and marketable assets. It’s something that you earn by honouring your promises. If you promise to have the merchandise in the customer’s hands by a certain date, you have no excuse not to have it there.
Always go out of your way to get involved in the community that supports your business. You can do this in many ways, such as pitching in to help local charities, becoming involved in organising community events, or getting involved in local politics. Constant contact, follow-up, and follow-through with customers, prospects, and business alliances are vital to breaking into highly populated markets.