If you are into the business of selling products, your main goal is to sell them. Unfortunately, about 40 percent of new products do not get market shares because they do not have a market or are not reaching their target market.
For you to sell your products, it is not enough that it is saleable or beneficial to customers. They have to be able to use it so your product can prove its worth. So how do you close the deal for your first big sale? Read on to know more.
Search for prospects that invest in new products.
There are big industry players who are on the lookout for new products in the market. Some of them do so because they are on the lookout for the next big thing in the market.
If the product becomes a hit, they could invest in it and gain huge profits as the product becomes well-known. There are also capitalists willing to invest in the further development of promising products, so make sure you look for those.
Know your prospect and what he needs.
Most companies or businesses need certain products or items for their daily operation or production. Focus on this need and see how you can address this need better than your competitors. Yes, they may already have an existing supplier, but if you can prove to them that your product is much more efficient and a worthy replacement, they wouldn’t hesitate to buy from you. Remember that businesses are continually looking for ways to increase productivity or improve production in all aspects.
Do your homework.
When you finally get an appointment with a prospective client, make sure you do your research and get an in-depth knowledge of the person you are meeting and the business he represents. Building your knowledge base will ensure you are able to satisfactorily answer the prospect’s needs by providing credible answers to their every question.
Aside from knowing your prospect, you must also be very familiar with your product details. You must be able to fully explain its benefits and advantages. Know it like the back of your hand. You cannot provide a mere yes or no answer when they need a detailed product presentation.
Your product must provide value.
Usability and ease of use are two important traits your product must possess. You must be able to fully explain your product’s important features. And make sure it does what you say it does. If your first customer becomes a happy and satisfied customer, expect recommendations from him.
If he is truly satisfied, you might not even need to ask him to write a review about your product. He may give it right away, with five stars and praises for your product. After all, no matter how much you promote your product, it will eventually speak for itself after customers get to test it.