The last step in the chain of commerce is the selling part wherein a buyer exchanges cash for seller’s goods or services, it is the activity of trying to bring this on. In some people’s point of view, it is the manipulation of others into buying things they neither want nor need. Everything that happens in the marketing world involves the exchange of products or services, the Buying, and Selling. Without that fundamental activity, a business can not and will not exist and a rise in the economy is inexistent.
As every marketing person knows, behind every success is a vision of something better than what exists today. Business people must sell investors, workers, and customers on that vision. The only way to gain that vision’s success is if a company’s products help other people achieve their own goals. None of this will become possible without the exchange of value; without selling. By that, selling is the process of making visions possible. Selling is a planned communication, it means that you’ve spent time learning about the product. It adds utility, products can be in the right place at the right time. It helps customers to determine their needs and also it can create a desire for new products.
Why sell the best-selling products?
In marketing, it is best to have your “best-sellers products”. It is the trademark for your company that that product is among those sold in the largest numbers. Because of the increasing number of sales, it is certain that most of the people will be encouraged to avail those items which have been used many. The best-selling product usually are the products that are of necessity for the people. Even though it depends on the category of the products.
Marketing strategies are your ways or approach to planning with the fundamental goals to achieve a sustainable, competitive advantage. It involves analysis of the company’s strategic initial situation prior to selection of market-oriented position that contributes to a company’s goals. There are numerous ways to market your product or services, below are some know-how tips on marketing strategies:
- Partner with allies. For starters, if you collaborate with someone else, you can deliver better content. Marketing partnerships are cheaper to create, see success faster and expose your brand to different audiences
- Involve in user-generated content. You can do this by providing options for review, in this way, you can exchange ideas.
- Collaborate with influencers. This is to gain new audiences and extend your brand awareness.
- Help customers solve a problem. You can create a how-to-content, offer exclusives that make their lives easier and listen and respond to them.
- Let customers interact. You can create a way for them to communicate with you or even with the other customers.
- Experiment the trends. Don’t hesitate to try out new channels and platforms to promote your brand.
- Have some fun.
- Get employees involved. Let your employees be your biggest asset and brand advocates.
- Be a little weird. Think out the box even if you don’t play safe.
- Use big data to target customers. Big data can be used to predict purchasing trends.
How do you make a sale?
You need a product or service. You need people who are motivated to buy the product or service you are offering. You need technology to facilitate transaction and delivery (for online selling). The amount of selling you need to do is as much as required to make a sale. In order to make necessary sales for a profitable company, you need to have trust and volume. You need to have people trust in you enough that when you make an offer of something for sale they believe you can deliver and hence buy. You also need to have necessary volume of customer required to make enough sales.
Before you start cutting for sales, you need to do some planning. You need to come up with the ideas below:
- Know your current profit margin, markup and breakeven point.
- Calculate the best discount price to still make a profit
- Prepare a marketing plan to encourage new customers and bring inactive customers back.
- Find out what your competitors are offering and their current pricing.
- Review other options for promoting sales offer without reducing the price.
- Decide how long the sales price will be offered
- Review your accounts for any regular times of the week, month or year your business has a sales dip.
When is the sales day for the best-selling products?
There are numerous ways to put your best-selling products on sales but on how often, that depends on the demand of the product, for example, if the demand of your product is low, then there is a possible time for sales. This is to promote the product. When in seasonal, and the demand is high, you can also gain more profit from this said dates. It will all depend on how the best-selling products are doing. And if the criteria above fits, you can also make sales or discounts.
Benefits on discounting
Along with increased order numbers and more profits, here are some benefits because of discounting:
- You can attract new customers without a larger marketing
- You can encourage undecided customers to purchase goods, products or services especially if the discount has a limited offer.
- You can clear out last season’s stock or out-dated models
- You can have free advertising on sales websites.
- You can also generate new sales from inactive customers.
Discounts, sales, loyalty offers and bulks buy pricing are common business strategies and can help you move out stock, attract new customers or reach sales targets during slow sales period. Whenever you change the sales price and markup of you products or services, it is important to understand how this will affect your profit margins and sales target, be sure to be aware before doing such activity.