How to sell a product in an existing market
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The first thing you want to do when trying to find a product to sell, is make sure the market is there.
If other people are selling the product, then the market exists!
Don’t worry about the market being too saturated. Having existing demand for a product is much better than trying to create demand. If the demand wasn’t there, then you have to create what is called “product awareness”. This means you have to inform the potential customer about the new product. And you have to convince them why they need this item. Convincing people that they need to buy some new item is expensive. And difficult. Offering a familiar product to someone is easy.
Remember, you don’t have to try to sell your products for cheaper than your competitors. Just outsell them. You can easily outsell your competitors by offering quality service.
How do you offer quality service?
Fast service:
There are many ways to offer fast service. The first thing you need to do is automate as much of your business as you can. This means accepting orders online. And accepting payment online. You also need to be able to process orders quickly. You might want to either set up and email process or a fax process so you can get the order in to the wholesale drop shipper. You should have a credit card on file with the drop shipper so they can just charge your card, instead of waiting for you to authorize a payment of some type. Or, slower yet, send them a check.
Friendly service:
Communicate with your customers. Tell them when their order will be shipped. Verify that they have received their product. Follow-up with a backend sale a couple of weeks later.
Accurate service:
Be as accurate as possible. Make sure you get their order correct. And their name.
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