In today’s world, innovation is the order of the day. Every day, someone or a company comes up with a new way of doing things. Some ideas may be welcomed while others may take time before they are accepted by the market. Either way, you have a better chance of succeeding in the modern world if you come up with a new product or invention. However, you are not going to sell the new product immediately after you launch it. Be prepared to wait and persevere. You should also do a few more things to make sure that people know about the product. They include:
1. Create a Sales Plan
It has been said time and time again that the best way to stand out in any market is to focus on a specific target market. If your product targets the younger generation, specify the age group and any outstanding characteristics. For example, it can be meant for people between 20 and 24 years old that have a passion for gaming and live in a certain area. The more specific you get, the easier it becomes for you to come up with a sales plan.
The sales plan can include your sales goals. Make these objectives as specific as possible. For example, you may want to sell at least 1 unit everyday during the first month. Your plan should also explain how you plan to do the selling. Will you hire people to do it for you or go by yourself? Another thing that should be in the plan is the target account. Perhaps, you want to sell to 20-24 year olds that are still in campus because they are more reachable.
2. Grow your Market
The most appropriate way to
sell your new product is by selling the product yourself. You have to go out there and meet your customers since that’s the only way that you can truly know how your product is doing. Let’s say that you meet one client today, and they tell you that they want to introduce you to their friends that would be interested in the product. The next day, you go meet these new people and sell them the products. The more you sell, the more confident you become.
Furthermore, you can also ask your first clients for their contact details so that you can call them whenever you want to clarify on a point that they made earlier. You can also learn how to start an online store and build a website for online purchases. Engage your network on social media and tell them about your product. Ask them to visit your site in case they want to make a purchase or confirm that the business actually exists.
3. Work with a Major Player
After you have established your first bunch of faithful customers, it’s time to raise the bar and explore newer markets. You want your product to reach other people that match your target market, but live far away. The best way to do this is to approach big retailers and agree on terms to distribute your products.
The process of getting a retailer to sell your products is as follows. First, you have to find a retailer that is more likely to sell your products. Don’t go to a retailer that specializes in whole foods, expecting them to sell your tech gadget. Second, you should have a ready-made presentation and updated sell-sheets that you can show to the retailer and convince them to sell your products. Third, you should be very attentive to special programs offered by retailers. Some of them have unique programs that allow store managers to try new products. You can suggest yours during this period.
You can use the above ways to sell your new product. As for the last point, be ready to accept rejection since not all retailers will believe in your product. Focus on making the product better and look into other distribution channels.