Hey everybody, it’s Jeff Demers, host of “The Motivated Mindset” podcast on Heroes Media Group, and host of the new video series on IGTV and Youtube called “Marketing From The Road.” In today’s article, I’m going to discuss how you outsell your competition even if you have the same product.
When I’m coaching on sales and marketing, I often receive a similar question…..
“How do I compete when the market is flooded already?”
And the answer is very simple. You just have to turn your product into an offer. You need to figure out a way to set yourself apart from the competition. Now, this strategy can and will work with any type of product that you’re selling. It doesn’t matter if you’re selling an actual product that you need to ship out. It doesn’t matter if you’re selling something online like SAAS (software as a system). It doesn’t matter if you’ve got a book to sell, or a supplement, or T-shirts aimed at a specific target market. This will work for anything.
So how do you outsell your competition even if you have the same product?
Let’s start with an example. Let’s say that you’re selling a weight loss supplement. Maybe at this point in your life, you’re a network marketer and you sell health and wellness products. Their are thousands of weight loss products out there. So how do you outsell the competition with the same or similar product?
You have to think about your target market. Actually, you need to chunk it down even further and think about your ideal avatar (ideal client) within your target market. You have an avatar shopping for weight loss supplements. But what else would someone who is trying to lose weight need?
Well, for starters, maybe she needs a diet plan. Maybe she needs a meal prep schedule. Maybe she needs some workout tips to workout at home due to her busy schedule. Maybe she needs more in-depth instruction so instructional workout videos would definitely help. Maybe she needs a fitness coach or at the least maybe she needs someone to contact her on a weekly basis to make sure she’s staying on track and to help keep her motivated.
So you create a 14-day, 30-day diet plan. You create a meal prep ebook. You create a video giving daily workout tips. You create a membership site that holds awesome and motivating workout videos. You offer a weekly phone call to help her stay on track. And you add these as bonuses or at discounted prices.
Do you think the competition is doing this? Probably not, especially if they are a larger, more popular company who simply relies on their brand name to push the products.
This is how you can outsell the competition even if you have the same product. It doesn’t matter what market you are in, or how saturated that market is. This is how you stand out, and these are the little things that are going to allow you to compete.
One big “no-go” that you should never do, is try to compete by offering a cheaper product. So if the competition is offering the same or similar product for $19.95, don’t advertise for $18.95. Then the competition will do $18, and you do $17………..
In most cases, you will never have to lower your price. In fact, by adding more value, you can charge MORE for the same product and still outsell your competition!
All you have to do (again, with any product in any market) is to think about your ideal avatars, and think about what else they will need to go along with your product. And you simply create them, and offer them as bonuses. And that is how you outsell your competition even if you have the same product!
Until next time, HAPPY SELLING!