Learn sales tactics and their results
Posted: Mon Jan 20, 2025 5:02 am
When researching competitors in this area, it is advisable to find answers to the following questions:
How are product sales processes organized?
What channels do competitors use to sell?
Do these companies have branches and if so, what benefits do they provide?
Is competitive production scaling up or, on the contrary, shrinking?
Do your competitors have affiliate programs that involve reselling their products?
Why do customers not paytm database make purchases from competing organizations?
What annual sales and revenues can your competitors boast?
How often do they hold promotions and discounts on products?
What is the level of involvement of sellers in the process?
It is very difficult to find answers to these questions. For example, if you can still find annual reports of public companies on the Internet, then data on private companies is obtained with great difficulty.
Study the pricing policies of your competitors and their advantages
The price depends on several factors, including the rates of similar products from competitors. In order to correctly determine the cost of your product, you need to constantly monitor similar products in the industry. Moreover, this value should seem reasonable to buyers. If you are sure that your company's products have better characteristics than those of competitors, then the question of increasing the cost arises. But sales managers must clearly and distinctly explain to consumers why your product is more expensive. There is an alternative option. When there are few inexpensive products in the industry, you can set a price tag lower than competitors. This will attract those customers who do not want to spend a lot of money.
An important step is to analyze all the advantages of competitors. You need to think about how they can be used in the competitive struggle. It is quite possible that competitors offer a free trial period for using the product or give a significant discount under the “Bring a friend - buy cheaper” promotion.
Such options are actually very effective, so you can really lose potential customers. You should think about how to make a more advantageous offer than your competitors. If it is not too burdensome for the organization, then you need to create a USP that is beneficial to all parties.
How are product sales processes organized?
What channels do competitors use to sell?
Do these companies have branches and if so, what benefits do they provide?
Is competitive production scaling up or, on the contrary, shrinking?
Do your competitors have affiliate programs that involve reselling their products?
Why do customers not paytm database make purchases from competing organizations?
What annual sales and revenues can your competitors boast?
How often do they hold promotions and discounts on products?
What is the level of involvement of sellers in the process?
It is very difficult to find answers to these questions. For example, if you can still find annual reports of public companies on the Internet, then data on private companies is obtained with great difficulty.
Study the pricing policies of your competitors and their advantages
The price depends on several factors, including the rates of similar products from competitors. In order to correctly determine the cost of your product, you need to constantly monitor similar products in the industry. Moreover, this value should seem reasonable to buyers. If you are sure that your company's products have better characteristics than those of competitors, then the question of increasing the cost arises. But sales managers must clearly and distinctly explain to consumers why your product is more expensive. There is an alternative option. When there are few inexpensive products in the industry, you can set a price tag lower than competitors. This will attract those customers who do not want to spend a lot of money.
An important step is to analyze all the advantages of competitors. You need to think about how they can be used in the competitive struggle. It is quite possible that competitors offer a free trial period for using the product or give a significant discount under the “Bring a friend - buy cheaper” promotion.
Such options are actually very effective, so you can really lose potential customers. You should think about how to make a more advantageous offer than your competitors. If it is not too burdensome for the organization, then you need to create a USP that is beneficial to all parties.