Sales

Posted 07 Aug 2019, Editor's Desk

How to Increase Sales through Competitive Advantage

Introduction

  • Does your product have uniqueness over your competitors?
  • Is your product providing maximum benefits to the customers?
  • Do you want to know how you can increase sales through competitive advantage?


In this age of cut-throat competition and with the onset of online shopping platforms, forget doubling your sales, selling your product itself has become more challenging.


Does this situation panic you? Are you searching for a formula to increase your sales or say double your sales?


Then your wait is over!


Read the article to increase your sales through competitive advantage more than double.


Sales are 90% Conviction and 10% communication of your conviction.




What is a Competitive Advantage?

Every product has some unique features and some benefits. These two put together, may act as an advantage for you over your competitors.


But will this lead to increasing your sales? The answer is No!

It is by focusing on benefits that come attached to these unique features, you can double your sales.

So, focus on those features of your product that provide maximum benefits to your customer. This will act as an advantage for the customer over your competitors. And, this is what we call as a Competitive Advantage.

Let’s understand this with some sales strategy examples as given below:
Example #1:
This CASE pen is beautiful. This is the feature of the pen. But, if you want to sell, tell the benefits of the pen to the customer.

What is the benefit here?

This pen writes beautifully and it will help beautify your handwriting.

So, focus on the benefit to the customer.


Example #2:

The average mileage of Case Company- Back loader is good. This is the feature of the back loader.

What is the benefit here?

You can save Rs. 2 lac per year by purchasing it.

So, focus on the benefit to the customer.

Where to Focus?

In Bhagavad Gita, Lord Krishna says,

Na Anayatra Kinchit Asti Dhananjaya..
Sarvai gunai samasitai surah..

It means to focus on finding unique qualities to create a Blue Ocean strategy!

When applied to business, it would mean “Focus on those qualities which are not with anyone.”

And this is what we call as a Competitive Advantage.

If anyone has become a millionaire or billionaire, it is just because of competitive advantage.

But the question arises ‘Where to focus?’

You will get the competitive advantage not by addressing the objection but killing the objection in advance.

Don’t think about undercutting. If this is your focus, you will kill your gross margins.
An expansion without Gross Margin is committing suicide.

So, don’t focus on cutting down your gross margin, focus on competitive advantage. By doing so, you will kill the competition.

Do you have a query..?