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Top Three Formulas To Successfully Sell Your New Product - Business - Nairaland

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Top Three Formulas To Successfully Sell Your New Product by okpiewon(m): 12:39pm On Apr 29, 2016
1. Why Should Customers Buy Your Product?

All ethical sales are a result of meeting a customer’s want or need. For example, it would be unethical to sell a more expensive roof with a 50-year warranty to a 90-year-old homeowner. However, that same sale would be ethical if you could get that 90-year-old a higher selling price for her home with that extended warranty.

As an ethical sales professional, you need to know why a customer would want or need your product. We can assume that the people who developed the product understand why–they identified a need or want and then developed the product. So now, you as a sales professional need to know what problem or need the new product is designed to meet.
Don’t be surprised if the market tells you something more. You might be familiar with minoxidil, a drug used for treating male-pattern baldness and hair loss in women. Did you know that oral minoxidil was originally used for treating high blood pressure? Its use expanded as patients and health care providers noticed that hair growth was a side effect of treatment.
You still have to start with a reason customers should buy, whether or not the market gives you new information.
2.Who Is Your Customer?

You can develop an effective sales process only when you know who your customer is. Some salespeople think that everyone is their prospect. That’s wrong.
You don’t have the time to sell to everyone. What you want to do instead is define your ideal customer. Selling to an ideal customer is a lot easier and more effective than trying to sell to everyone.
Consider who would need your product, and determine both the demographics and psychographics of your ideal customer. Some demographics or statistical data to consider are age, gender, income, job title, location, years of experience, or other relevant data.
Next, consider the psychographics of your prospects or the way they think. Are they risk takers or are they risk averse? Are they big spenders or are they frugal? Is quality important to them? Is their appearance important to them? You can begin to connect your product to your prospect once you know how they think.
What you will be doing with this information is looking for prospects who match those demographics and psychographics. It’s not that you won’t consider anyone who isn’t a 100 percent but you will know that they will be harder to sell to when they are a mismatch.

Source:http://www.sarakinews.com/2016/04/top-three-formulas-to-succesfully-sell.html

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