There’s only 2 ways to increase sales. Isn’t that great? Only 2 ways. You can either try to:
1) increase demand for your product category or
2) shift market share from a competitor
So when you’re planning your marketing efforts, you need to figure out which strategy makes the most sense. Are you able to make people want your industry category more or are you going to try to convince people you’re better than your competitors or possibly a little of both? The answer to that question shapes your entire marketing plan.
Most small businesses will find it very difficult to increase demand for their product category. Ex: How do you get people to buy more clothes? So they’ll have to take market share from competitors. So how do you do that? There’s lots of different ways. You could:
- be cheaper than them
- offer a bigger selection
- carry unique products they can’t get
- provide exceptional customer service
The key is to focus on something that is compelling enough for them to go to you, rather than your competitor. Not just as good. Not just different. Something that will make you irresistible. What is that for you?