How to increase sales through product improvements rather than new products
Increasing sales through product improvements rather than new products can give you a head start in the industry. You already have regular, well established customers from whom you have collected information in order to identify their buying habits. The key is to keep your existing customers, and convince your new ones to buy more of your existing product lines. Your established product market share is truly the goose that lays the golden egg.
If you own a small store or a kiosk, present the new and improved products to your front line and make them stand out from other products. Make sure you place them in a way that they are appealing, attractive, affordable and very accessible.
Demonstrate what the improved item can do and couldn’t do before. Demonstrate it in many ways in front of the customers. Show pictures of the old and the new and improved item. Display it so the customers can see what it looks like and be prepared to answer questions. More importantly, point out all the changes made to improve the product along with some additional advantages the item offers. Show how easy your customers can own one, and how that nobody should be without one. Show them what a great value it is. You can also throw a discount of 10 percent for the first 50 people that buy the new and improved item.
You can distribute free samples to customers as they walk by. Have a few of the sample items available to give away. Direct them to where they can get one in the store if they are interested. To avoid sending the customers to look for the item all over the store, you should keep supplies of the items next to you. Make sure to let the customers know what the promotional price is if they buy the item and what a great deal they are getting. In addition to distributing samples, you can attach a discount coupon for more savings if they buy more than one of the same item.
Point out the change in the way the item is packaged or the new taste or color it has. Don’t fail to show the improvements as a sales pitch. Show the different accessories for the product and if possible mention the difference between the old product and the new improved one. Let the customers try the item so they can experience the improved product.
Advertise the item on your website. Stick flyers on telephone poles; distribute the ad in person or place them on people’s windshields in parking lots. Use the media to advertise for you. It can reach a large number of people in various locations. Make sure your advertisement focuses on what you have done to improve the product and how it will make the life of your customers easier and better. Use colorful images and animation to promote the product. Make the headlines in bold and make it appealing and very interesting.
You need to have an excellent sales team. They are the key to promoting the improved products. You can train them to make sure they have the ability to demonstrate the item and to answer questions. Give small incentives to motivate them. Help them to stay focused on making the customers want to buy the item and see the advantage to owning it. The new and improved product should catch the customer’s attention at first glance and make them want to buy it.
Improving a product can definitely increase sales. You need to work a little harder to make the customers think that they are getting something they already know how to use but with better options. Customers don’t mind buying improved products if it is well marketed, well price and is something they want and need.
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