Six reasons why your product may sell inspite of the competition

by Ashvini on July 23, 2013 · 4 comments

in Business,Entrepreneurship,My Personal Thoughts

It takes a Herculean effort to conceptualize and create a new product. The uncertainty, the comments from people who are divided into “It will work ” and “It won’t” becomes energy draining.  Some people will point out that market is littered with such products , while others say that there is a need for another good product.

A few questions that spring to mind

  • What makes customer actually buy the product?
  • Is it only a need which a product can fill?
  • If yes, why is marketplace full of almost identical products?
  • If the need was already fulfilled, why is there so much competition in every segment?

It is very hard to tell if a product will indeed be successful. Market research may tell you about the demand for the product but even it can also not tell if your product will be successful.

Here are a few ways in which you can get a head start and even sell the product in a saturated market. How do I know? I have created a social media plugin which has sold a good number of copies in a market where there are tens of free products available.

#1 : You already have a customer

The best thing that can happen to you is when a potential buyer asks you to create  a product for them. This the best thing that could happen. You are developing a product that already has a buyer and he/she is willing to pay for its development too

#2: Your product is indeed different

You have a product that does something, no one else does. Evaluate the best products and determine the single most important thing they miss out on. You can also ask the users, what is that the current products lack. You can build a whole new niche around that new segment.

#3: You get testimonials that are genuine

To get testimonials, give people free samples or trial time to try your products. Don’t expect them to buy your product instantly. Ask for recommendation. And no, your friends’ views don’t count as testimonials.

#4: You have priced them right

In a competitive market, pricing needs to be competitive. If you ask for premium, you need to justify it.  In a new market depending on the need you can price the product high. But when the competition increases, you will either have to decrease the price or you will have to raise the quality bar to get a premium price.

#5: You invested your time in building relationships

If you invested enough time in building relationships, people will buy things on your recommendation. It is a good idea to build some solid relationship with people/leaders in the industry.

#6: You are good at what you do

Steve Jobs was such a person. His mere presence made people rushed to buy products from Apple. There are top authors whose books sell because they have worked hard to build their reputation over the years. If you are good at something you do, showcase it and your product will sell because of your reputation.

Selling your product or service is a long hard work. You can sell your product in a highly overcrowded industry provided you play your cards right. I hope the points above helped you to get a perspective on selling your product.

No, your friends don’t count as testimonials.

About The Author

{ 4 comments }

Sherman Smith July 30, 2013 at 3:32 am

Hey Ashvini,

I think the main point here is to be able to stand out and the six points that you made are rooted into this. It’s not just about marketing the product to the masses, but how you market to the masses. You may have a product that’s similar to a bunch of others, but the main thing is how do you and your product stand out. Are you going to be something and someone that’s memorable or just another copy cat marketer? This is something that’s tough for us to swallow but something to be well considered.

Thanks for sharing Ashvini!

Adrienne July 24, 2013 at 10:18 pm

I think this is why I’ve been dragging my feet so much Ashvini! I just feel that there are SO many products out there right now that are providing the same thing. Maybe some people don’t understand what they share as well or they don’t know the product creator so they don’t trust that they will deliver what they promise. There are so many reasons why people don’t buy.

I’ve decided to go in a direction that I feel has NOT been shared yet. I want to help bloggers, they are my passion. It’s sad that when they put their blog up they are never told about all the things that are involved to keep it working to full capacity so I’m going to share all the behind the scene stuff no one is telling them.

I believe I have the audience, I already have the relationships and there is the huge need for this. Keeping my fingers crossed it all goes well.

Great post and great points about this.

~Adrienne

Silviu July 23, 2013 at 10:09 pm

Hi Ashvini,

1. Everything begins with knowing to do something and being good at what you do. Then you go online and find the niche. Then you create content, build relationships, a list, create a product and promote it and sell it.

This is a happy sequence. Unfortunately many people go online and don’t know what to choose, where to go, what to do. Some need time to find out their way. You were among the lucky ones who already knew something. When you know something and are good at that, your path will be easier. No need to wander.

2. I agree that you can sell a product in a market that is already saturated by similar products. However, in this case most of the products that saturate the market are junk. If you come with a quality product and a good customer service, usually this is more than enough to kill 99% of the competition.

To your success!

Ashvini Kumar Saxena July 24, 2013 at 5:33 pm

Hi Silviu,

Thanks for your comment. The idea of the plugin was not really mine but Carolyn’s . She wanted something different than the plugin that is the most popular currently. And that is how it started. Sometimes external ideas from someone is good enough to get me going :).
A good study of the market is essential to bringing out the right product.

Have a great day :).

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