25 Jul 4 Marketing Techniques to Help Crush Your Competition
There are four marketing techniques that you can use to approach your market with your products and services. Use these to market your products better than your competition.
The better you market to your customers, the greater your success in business and sales. Use these tricks to get ahead of your competitors.
Marketing Technique #1: Create Utility and Usefulness with your Product
The first marketing technique you can use to beat your competition is to create utility, usefulness, and satisfy the needs of your customers to achieve a specific result. This requires that you offer them something they need and can use to accomplish their other goals.
Look at your market today. What will your customers and potential customers want, need, and be willing to pay for in the months and years ahead? What are the trends in customer demands in your market? If you can answer this accurately, you can often leapfrog over your competition and dominate a new market even before it emerges.
Marketing Technique #2: Change Your Pricing
A second approach to sales and marketing is by changing your pricing. By bringing your goods and services into the price range of your customers, you can open up entirely new markets that do not today exist. How could you price your products or services so that more customers could afford to buy them?
Many companies have been able to achieve market leadership by focusing on bringing their prices into the affordability range of more customers. What we have found is that the greater your market share, and the lower your cost of production, the lower is the price that you can charge.
Marketing Technique #3: Emphasize Your Product’s Key Benefit to the Customer
The third strategy in sales and marketing is adapting to the customer’s reality, both social and economic. The ultimate aim of your marketing plan is to make selling unnecessary. But this is seldom achieved. The product almost always needs to be sold to the end customer. As it turns out, each product offers a “key benefit” that is the primary reason why the customer would buy.
Each product or service also triggers a “key fear,” which is what holds the customer back from buying the product or service in the first place. Customers are terrified of risk. They are afraid of paying too much, getting the wrong product, losing their money, and getting stuck with something that is inappropriate for their purposes. This is the main reason that qualified prospects hold back from buying any product or service, at any price.
When you can emphasize the key benefit, the unique added value that a customer will receive by buying your product or service, and at the same time, take away his or her major fear, you can open up an enormous market for what you sell. What is the key benefit that motivates your customer to buy? If you have different types of customers, what is the key benefit that triggers the buying decision in each of these different kinds of customers?
What is the key fear that holds potential customers back from buying your product or service? What could you do to emphasize the benefit and make it more attractive, while at the same time, minimize or eliminate the fear that causes a customer to hesitate?
Marketing Technique #4: Deliver True Value of Your Product to Your Customer
The fourth approach to marketing plan is for you to deliver what represents “true value” to the customer. True value is something that can only be identified by working closely with your customers.
What represents true value to your customers? How could you structure your product or service offerings in such a way that people would be more comfortable purchasing them from you rather than from your competitors?
Conclusion
There will always be competition for products and services. It is your job to make sure that you stay ahead of the game and ahead of your competition. By following these tips and listening to your customer needs, you will learn to always come out on top.