Reactivating your sales when competition launches an offense

Increase your sales
Image Source: Google Image

Do you know how you are going to react when your competition is goes into the barricades? These are the four most common scenarios…

The most commonly,  sales are threatened because the competition changes the rules of the game and you’re forced to make a move; a company enters the market in a better position than you; a competitor introduces a new product or launches an ambitious campaign communication. This means that in many sectors, like the one you are moving, has entered competition, and, in theory, if they enter the market because they have possibilities.

1. A competitor low prices

When sales fall out of no where, its time to enter a price war. Unless you are a leader in your industry or larger company, there will come a point where others can better adjust the margins then you. Take advantage of your differences and your position in the market. What can you do?

  • Expand your sales force: Either with new offices or expand your audience to an audience that you were afraid to go after before. Outsource some services: call centers (if you want others to be responsible for attracting new customers or to cover customer service, so that your sales force is current) or outsource some complex services (if you want to attract new customers care for them).
  • Launch a new brand: Launching a new brand helps  broaden your product offering. Sometimes if you have to have a strong brand and dedicate to yourself to the distribution of products. You may invest in launch your own product lines with private labels.
  • Communicate your differences: Through advertising campaigns or through sponsorship to gain notoriety.

“You may also like to read another article on LifeStyleQA: All you need to know before creating your company”

2. Your competition launches a new product

Technological changes and forms of distribution of your products set new competitive scenarios and possibilities open to new competitors in new markets. For example, new social settings (immigrants, new senior citizens, etc.) require betting on new designs of products and distribution channels. Although your first reaction may be to lower prices, you should not. A new product changes the rules to differentiate your offer. What you should consider?

  • Communicating your difference: If your characteristics are still different and competitive, let your consumers know. Use some tactics to make it known: discounts, two for one, direct gifts, coupons, etc.
  • Touch up your product: Perhaps your product is good, but perhaps a better strategy would give your product a facelift. The product is worth as much as you are ‘wrapping’: recycling and packaging.
  • Launch a new product: If greatly improves your service or your products have no choice but to investigate and launch a new product or a new service. When a service or a product becomes obsolete, you must either alter the characteristics or find a replacement.

3. The competition appeals to your partners (suppliers, distributors …)

For example, your sales network does not own and work with distributors, your distributors may be working with your competition. This them ‘criminalize’ or threaten to renegotiate the conditions in which you work. What is one thing you can do? Offers free training. Get training and incentives outside your company and also offer it to your distributors. A small detail like that shall make them feel part of your team and find it profitable to work with you.

“You may also like to read another article on LifeStyleQA: 7 Principles for Becoming a Successful Millionaire

4. Your competition launches ‘Campaign’ advertising

Usually this type of campaigns is associated with the launch of new products, but sometimes also about ‘havoc caused’ to claw market share. Again, do not lower prices. Strategies to combat this campaign?

  • Revive your outlets: Concentrate your efforts of communication at the point of sale. For it organizes events aimed at customers in your outlets:  test products, meetings with experts …
  • Communicate your difference: If your characteristics are still different and competitive, make it known to consumers. Use the usual tactics to make it known: possibility of discounts, two for one, direct gifts, coupons, etc.

Be the first to comment

Leave a Reply

Your email address will not be published.