Sell The Value Of Your Product
Like most of the novice businessmen, you also focus on your product more than its value and that is why it dies before it makes its place in the market. Demonstrate the value of your market rather than wasting your efforts in convincing your customers about how good your product is. Shift your focus on the things like how your product can change their life. Make them realize how your products can benefit them in the real and practical terms.
The age-old adage “Sell the benefits, not the product and be a solution provider/helper rather than a vendor.” holds water in the present market scenario also.
Focus On Identifying Their Problem
As already mentioned, if you want to help your slumping sales you need to project yourself as a helper and a solution provider. It is good to make a market research before you launch a product or service. Focusing on the problems of your customers and coming up with the idea that can address their problems effectively is a sure-shot way to be a success in business. Show the utility of your item before you expect them to buy.
Developing the Competitive Advantage
Once you have found out needs of the public you need to develop a competitive advantage because several others in the market would offer the similar product or service so why would people purchase from you. Developing a competitive advantage works here. What extra you offer, does your product stands out in the market in terms of value? Do you offer your customers free sops along and do you keep your profit margins low in the market till your brand gets established and people start begin to trust you.
Availing the Festive Time
Always remember the thumb rule, people tend to buy during the festive time. So, launch a new product or come up with special offers and sops at that time. Sales graph actually rises up during this time and you can hence bank on this public psychology of spending during festivals.
Tracking Your Sales Team Productivity
A productive sales team is no lesser than a boon to your business. Similarly, an unproductive team can become a real curse. Imagine a situation where an overpaid on-field sales team burns a hole in your pocket by making you pay the fuel expenses for the distance they have never traveled. Ensuring your team specially sales team productivity can help your declining sales. TeamSpoor.com tracks the productivity of your on-field sales team in real-time.