Making Effective Sales
After product quality and product importance, “Selling effectively” is the most important thing for a business to run successfully. Often times it is said that for a Company to grow its business, it should stay in business. And no business can stay in business without making sales. Sales provide revenue for operations of the company, salaries of the employees, and ultimately for profit generation. For any Entrepreneur, ability to sell is the most important of all. Everybody, who has succeeded in business, learned to sell. If you look around you, founders of all successful companies have learned to sell their products. Facebook, Twitter & Google is selling their product by providing advertisement facilities, Tesla is selling their cars, and SpaceX is selling their services of transportation to space and similarly many more. If you are trying to be an Entrepreneur and willing to go on your own ventures then you will have to learn to sell. Here in this article, we will discuss some very basics of effective selling and their essential characteristics.
Before we get started, we’ll discuss some important terms like Niche, Targeting and Design. These terms are usually used in business industry and among sellers. Let’s talk about each one of them independently.
Niche:
Niche is a term usually used for a specific audience which may have some specific interest or some specific tendency. It can be some based on some specific occupation, educational or professional specialization, religion, gender or may be political affiliation etc. This particular group should be greatly involved in that particular subject. It’s about just liking something or just being a regular fan of something. To be called a niche, that group should be excessively aligned towards that thing. Also it’s not about some temporary trend, like some political event or temporary news but it should be some regular and long term liking. For example, being an Engineer, or being an Entrepreneur is something more like being included in that particular niche. So in a nutshell, niche is a specific group of audience which has a great interest in something.
Targeting:
It is somehow a similar concept like Niche but actually it’s not. Targeting is also selecting an audience but it is based on demographics mostly. It may be considered as some niche in some specific demographics. It may be considered as selecting audience on the basis of locations, gender, workplaces, nationalities, age groups etc.
Design:
Design is something which actually sells. But remember one design may be suitable and acceptable for one niche but it may really be unacceptable for another niche.
“A man is known by the design he keeps”
Now let’s sum up these concepts, First of all when you are going to design a product, first thing which you finalize is your “Niche”. It’s not design, it’s not demographics but it’s your actual Niche. You have to be very careful while choosing your niche. You should take all factors into account regarding, financial capacity, priorities, market behavior and response of your niche. So first thing which you select is niche and after that you go towards targeting and design. Targeting and design is somehow submerged processes. You have to keep in mind targeting and design both while designing and while setting targets for audience. Finally when you have decided your Niche, Targeting and Design, now your sales may depend on how accurately you have decided all of these factors. This point can be elaborated by the following figure.
This figure is like a Vein Diagram. The amount of sales and revenue you make may depend upon how well your three ingredients are aligned. The more your Niche, Targeting and Design is aligned, the more you make sales and vice versa. In case if these ingredients are totally unaligned then you will find it way too hard making any sales.
[This topic is vast, we’ll get back with more articles on this topic]