Marketing a product or service efficiently

You have invented a great product or modernized an existing one or flat-out created an efficient service but lacking the bite in reaching the legions of consumers you are sure will buy the product or service, Welcome to Sales 101. While there are countless books you can read about sales and marketing, here’s a relatively simple, proven strategy that’ll teach you how to market a product or service and grow your revenue overtime.

Create a Clear Sales Plan
Defining your market as accurately as possible so you have a deeper understanding of exactly who you’re selling to is first key step. For example, instead of marketing your product or service directly to consumers, you might want to market your product or service directly to the government or corporations. More Information. Government spends billions of dollars annually on various goods and services. So it will make sense to start from there. The more specific you get, the more accurately you’ll be able to target your sales and marketing efforts, choosing the sales channels most receptive to your product.

Next, you’ll need to develop a sales plan. Before you groan, “Another plan,” understand this can be a simple document for your eyes only that’ll help you organize and think through your sales strategy. Write it in a way that makes sense for you. Typically, it should include the following:

  • Sales goals: These goals should be specific and measurable, not something like selling a million units. Base them on the nature of your   product and try to break them down into manageable parts. For example, sell 50 units to government agencies in 30 days and sell 100 units to local independent retailers in six months.
  • Target accounts: Your sales plan should also include the accounts you want to sell to. If it’s government agencies or corporate entities, for example, plan how you’re going to reach them through your website.
  • Timelines: Put dates to all of the above elements so you can define your steps within a realistic timeline. Don’t forget that your timelines should be fluid–if you’re underachieving, your sales plan can help you figure out why and define the corrective steps you need to take.

Finally, follow a proven process for growing sales over time. While it would be fabulous to have big retail outlets or corporations carry your product or buy your services right out of the gate, it may not be realistic. Most large retailers or corporations will want to see a track record of successful sales before agreeing to take on a new product or service.

Written By: Anthony Obiako, Reliable Investments LLC

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