The market is so competitive that only a few can make it out there for a long time. From the first time, an idea comes to mind and from the moment we start making the business plan the question of what different do I have to offer to people, rises.
Here are the criteria you have to check in order to find opportunities.
- Change the packaging
Packaging often pops up in our heads when we are trying to differentiate a product. Especially, if the product we sell can also be purchased as a gift for somebody else, packaging may make the whole difference and lead the audience to pick your brand. Most of the time, apart from the packaging you will need to add another feature that will help your product stand out from the competition but the packaging is not only a differentiating factor but a step to a successful promotion as well.
- Go for the charities
When you are in a competitive industry with many sellers and many clients anything that will give you people’s attention is welcome. A great way to approach customers who pay attention to details is to contribute to a charity. The important thing here is that the purpose of the charity can be related to your product. Some companies have gone a step further and designed special products to raise awareness regarding the purpose of the charity. This not only differentiates you but also opens a whole market for you to step into.
- Check on all variations
You can sell whatever other sellers sell but in different sizes, materials, and colors. Variations are the most simple way to gain some ground over the market. Wherever there is a gap for you to step in, take advantage of it. A tip here would be to look for the variations that customers check on the internet so that you have a group interested in them.
- Features and ingredients
Simple ingredients can be added to the product especially if it is cosmetics or food-related. In addition, small features can be altered and make an item unique. Going for different features and ingredients will not only help you become unique but in many cases, it can add real value to your product and allow you to increase the price.
- The origin matters
You can sell products produced in your own country or in the country you are selling to. Anything that helps you skip the label ”made in China” and highlight the good quality of your product would work great. The item can also be handmade or even produced by people who are handicapped. The fact that you cooperate with people who would find it hard to get a job somewhere else will help in the promotion and differentiation of your product.
- Sell combos and sets
It is not only what you sell but how you sell also. Many customers would love to purchase a set instead of shopping for each part separately. They avoid the extra shipping cost and the time they will have to consume to inspect each order separately. As a buyer the opportunity to buy all in one is valuable and you will probably come across fewer competitors in these markets since the cost to purchase the item is rising so many competitors may not plan to put a lot of money into their initial investment. In other words, you leave small fish behind.
- Transparency can lead the audience
Another amazing idea that will not cost you anything is to focus on informing people about where their money goes. In cases where you cannot lower the price of your product to harm your competitors, you can go ahead and present some of your companies data regarding how you pay your employees and how you handle your budget. It is something many companies will not want to do for many reasons, so if you are not one of them you will definitely stand out with this strategy.
- Where you sell
Last but not least, we would like to say a few words about the factor of where you sell. Regardless of the product you are selling remember that even if the market is full of this particular item where you sell there may be other places where the product has not yet arrived and you would love it if you were the first to go there. Other countries may be ideal. Be open to partnerships and opportunities.
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