Q&A for How to Sell a Product

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  • Question
    How do I avoid competitors?
    Archana Ramamoorthy, MS
    Chief Technology Officer, Workday
    Archana Ramamoorthy is the Chief Technology Officer, North America at Workday She is a product ninja, security advocate, and on a quest to enable more inclusion in the tech industry. Archana received her BS from SRM University and MS from Duke University and has been working in product management for over 8 years.
    Chief Technology Officer, Workday
    Expert Answer
    Study your competition, but look beyond direct competitors. Be sure to look at other companies that could potentially get into the same market that you're in and disrupt that space. A lot of times, you can miss adjacent market opportunities because you're just focusing on similar products or companies.
  • Question
    How would you sell leather boots?
    Michael R. Lewis
    Business Advisor
    Michael R. Lewis is a retired corporate executive, entrepreneur, and investment advisor in Texas. He has over 40 years of experience in business and finance, including as a Vice President for Blue Cross Blue Shield of Texas. He has a BBA in Industrial Management from the University of Texas at Austin.
    Business Advisor
    Expert Answer
    Consider the features of the boots and the benefit they provide to potential buyers. Focus on those features that bring the greatest value to the buyer such as utility, low price, extended life and durability, appearance, and status. Whether sold online or in a store, the customer always seeks the greatest value/cost advantage.
  • Question
    What should I do when I am a beginner in a sales job?
    Community Answer
    Look to the older and more experienced salespeople at the business for advice and try to emulate their behavior around customers. Make as many sales attempts as you can and actively learn from your mistakes by writing them down and seeking ways to correct them. Above all, don't get discouraged; making sales is difficult and nerve-wracking in the beginning, but gets easier over time.
  • Question
    How do you deal with a customer who always wants a bargain?
    Community Answer
    Any customer would like to negotiate with you on the price or services that are being provided. To close the deal with such customers who always bargain, you need to instill a sense in customer that the current price for goods or services being offered is the best. If you have anything to throw in, that can sometimes stop their requests, but if you can show it's the best price in town already, that is your best chances of shutting down the bargaining.
  • Question
    How can we understand customer behavior?
    Community Answer
    The best way to understand customers is to put yourself in their shoes. If you were about to buy your product, what would you want to know more about? What would you be worried about? What would your other options be? Take the time to consider the buying process from the customer's point of view and then use this knowledge to improve your selling techniques.
  • Question
    How do I sell bank products?
    Community Answer
    Bank products, like certificates of deposit (CDs) and savings accounts, are generally only sold by the bank providing the product. To sell a bank product, you will have to work for the bank. Then, you'll have to meet with clients, understand their financial needs, and work to solve them by providing your bank products. Bank products are sold by displaying credibility and trustworthiness to the customer.
  • Question
    How do you sell perfumes?
    Community Answer
    Keep samples which customers can use, understand customers' preferences and use soft perfumes to create a good impression with the customers. You might find How to Sell Perfume on eBay to be helpful.
  • Question
    What is a sales representative?
    Community Answer
    This person is the face of the company's product or service. It is characteristically a person who has finesse, grace, tastefulness and is cultivated and should be able to communicate in a sophisticated manner.
  • Question
    Where can I sell my products?
    Community Answer
    Products can be sold in a storefront, online, over the phone, or in some combination of those. Each has its own benefits and drawbacks.
  • Question
    How do I sell an old fashion bag?
    Community Answer
    Focus on the pros of the bag like the color, texture, durability, and the size.
  • Question
    How do I sell handcrafted bracelets?
    Community Answer
    You could try opening up a shop online, like on Etsy, or buying a booth at your local farmer's market and selling them there.
  • Question
    If a product I have is not selling very well, what can I do to get it sold?
    Community Answer
    Check your price against your market purchasing power, and check your packaging and presentation, because it's the eye that convinces the mind to purchase. You might even need to move to a place where there is less competition.
  • Question
    How do I determine a price of the product I'm trying to sell?
    Community Answer
    Evaluate similar products on the market and price yours accordingly. If it's a completely original idea, base the price on labor and materials, marking up to ensure you actually make a profit.
  • Question
    How can I sell postcards by doing a presentation?
    Community Answer
    You can talk about how postcards can help you connect with family and friends. Explain that they are also a way to show compassion to anyone.
  • Question
    What if people say they can't afford the product?
    Knoxx
    Community Answer
    1. Attack their ego. "This is $30/month. That's a dollar a day. You're telling me you can't afford $1 a day?" 2. Talk them up. "Honestly, you've done well for yourself! You have such a nice place, and that car is nice too! Is that a ____? That's so cool! Honestly, it really seems like you can afford this product, so what's holding you back?"
  • Question
    Can you provide an example of how I might convince a customer?
    Knoxx
    Community Answer
    "Look, Jerry. I get it, this is a lot to take in, and I am sure you have a lot of questions about this product. That's why I am not setting anything up today. Usually I start the program tomorrow, but I can tell you are still on the fence. What I am going to do is send you a copy of everything I am talking about. I invite you and your wife to review the documents to put your mind at ease. Let's go ahead and sign you up and get this process started."
  • Question
    How do I deal with lingering customers?
    Knoxx
    Community Answer
    Assume the sale. If you aren't sure if the customer wants the product, they won't be sure either. Let them know that they WILL be getting this product at THIS DATE. Then just start filling out the deal.
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