How can we increase sales in close competitive market?

Hi Imran,

Good evening. In my opinion,

1. One should analysis the existing customers and their issues with the product. Also, one should understand their demographic territory and should analysis their competitor, what is there in their product which stand distinct as compared to yours? Is that product satisfying the customer's needs? Since, none of the product will satisfy customer's need complete so there is always opportunity to grow.

2. Focus, about your marketing activity do it more rigorously. Try to understand are you targeting right audience for your product or is your product can be useful for other age groups.

3. People think that by offering discounts your product sells will increased but it is for instance and not last. Instead of that conduct survey to understand your targeted customer more closely.

4. Review your product is it require any modification or addition to existing one.  

Here are three ways to distinguish yourself from the competition and grow your business.

1. Target Your Market More Precisely It’s a common marketing mistake to think that the more types of people you appeal to, the better. The opposite is true.

Your prospects are rarely looking for generalists. They want someone who has the knowledge and experience to provide the solution to their specific problem.

Be precise about the ideal clients you want to you serve. Define your target market by industry, by size, by length of time in business, by the problem you solve, etc. Of course, you want to make sure that your target market is large enough for your business to be highly profitable.

When you are clear about whom your products and services really help, you’ll attract more clients and you can charge more because of your specialization.

2. Position Your Firm As Experts Your expertise and that of your competitors may be the same. You’ve all had many years of experience and are successful to varying degrees. So how do you stand out?

If you want your prospects to see you as an expert in your field, don’t expect them to seek you out on their own. Demonstrate your expertise and give them a reason to contact you.

Create a free, irresistible offer that shows your prospects how well you understand their problems and can solve them. Offer a free test drive, a free report on a relevant business topic, or a free consultation or estimate.

What are you waiting for? Why not find out the marketing strategies and techniques that will put you out in front of your competition today? Each day that you delay means more business lost due to out dated marketing.

3. Build Strong Relationships With Prospects “Out of sight, out of mind.” Once you’re out the door, off the phone, or your prospect has left your web site, they’re going to forget you. They are going to forget you just when you want them to get to know you, trust you and think of you when they are ready to buy.

How can you make sure you have a stronger relationship with your prospects than your competitors do?

Stay in contact once a week or once a month. Give your prospects ideas they can use that continue to demonstrate your expertise and present them in a personal, engaging way. Your prospects are more likely to buy from the person they know the best.

I endore the given Answers.

JUST BE SPECIAL in everything (product, price, quality, customer service, ..)

Understand your business What is your business niche? What do you do best? Who needs you? How do you best approach these prospects? How much are they willing to pay? Who are your competitors and what sets your company and you apart from them? You need to answer these questions which will help give you clarity and vision. Set specific goals Write down the activity goals (calls per day, appointments set per week, proposals per month, etc.) that you can control. Set results goals (sales per month, amount per sale, profit per sale, etc.) to measure your progress, and track them closely. Increase your activity and measure the results. Goals focus your attention and energize your action. Prospect To increase sales, you must devote a significant amount of time to prospecting for new business. This prevents the peaks and valleys that many sales people experience. Maximize your time Focus on your goals. Test every activity for its importance and urgency. Get somebody else to handle your paperwork, expense reports, or whatever busywork is involved with making a sale. Use the extra time to get in front of customers. Remember, just one hour a day used more productively adds up to more than six extra weeks of productive time a year. Persistence We all know that it takes more than one call, one letter, or one email to connect with decision makers. In fact, it’s been reported that it now takes up to14 touch points to connect with senior level executives. Successful sales people know that it takes persistence and diligence to make contact and they use a variety of strategies to achieve this goal. Creativity In today’s ultra-competitive environment, the ability to stand out from the competition is critical. Look for creative ways to achieve this. Use a creative approach in your prospecting methods, in your sales calls, voicemail messages and emails to ensure that your prospect will remember your name. Hone your lead generation effort Based upon your own experience, observe who’s just interested and who’s actually buying. Hone your lead generation efforts to find more of the ones who are actually spending money on your offering. Work on yourself Even the best of the best have room for improvement. Make a decision to improve your weaknesses, and set goals to force yourself to do the things you don’t like to do. Be more creative in your prospecting, fact finding and presentation skills. Listen to motivational tapes, attend some classes and read more literature that can help educate you more. Imagine the perfect salesperson and compare yourself to the ideal. Develop your attitude Your attitude is controllable. Conquer your fears. Change the beliefs that limit your success. Your thought habits control your commitment, enthusiasm, persistence, resilience, happiness, and confidence. Be aware of them, decide which ones are unproductive, and then make a commitment to change. With time and effort, you can become the person you want to be. Terminate weak engagements — politely, but immediately. The moment you find out that a customer really doesn’t need what you’re offering or is not a good fit, point him in the right direction, and then politely withdraw from the opportunity. Ask great questions, listen and sell to customer needs Always assume your prospects will buy only what they need. How can you convince them of that need? Many sales people don’t ask tough, probing, thought-provoking questions that make prospects think. Your listening skills must be highly developed. Listen carefully for underlying clues and hidden messages. Emphasize the features and benefits of your product or service that reduce costs, solve problems for the customer or achieve a goal. Follow up Many a sale has been lost due to lack of follow up. And given the technology we have at our fingertips today, this should be a no-brainer. However, too many sales people fail to follow up after sending a proposal mistakenly thinking that the prospect will call them if they are interested. News flash! It’s up to you to follow through afterwards and I guarantee that you are losing sales if you are waiting for people to call you back. Asking for Testimonials Most sales people don’t seek out and use testimonials even though they know the importance of doing so. The best time to ask is after you have closed a deal. You might even help your customer develop an appropriate endorsement. By incorporating these ways into your routine, you will quickly notice an improvement in your results which will increase sales.

We can increase sales in close competitive market with a very efficient marketing campaign.