So, the new year just passed by. How was your experience about the same? Over a period of time, various retailers and product marketers develop great offers on ceiling fans, pedestal fans, and other electrical products to lure customers. This is, in fact, a great time to make such purchases. Diwali is past, and people have now recovered from the large expense they incurred for this festival. This is the time that they start thinking about buying things for their home.
If you had offers on your range of Ceiling Fans and other electrical appliances, you would have had some experience yourself. Not every vendor or product marketer manages to be successful. Don’t be disheartened, though. There is a lot that you can learn from your competition. If your special offers did not manage to create an impact on your audience, here are things you can do:
ANALYZE COMPETITION: Look at those Competitors who performed exceptionally well in the competition. What you need to find out is those things that they did differently from the others. What made them stand out? Many times, you will find that those competitors who deliver exceptional value to the customers are the ones who excel. Slashing your prices isn’t just the only thing you need to do. You have to create a solution that your customers value.
CUSTOMER COMMUNICATION: The next thing that you can also do is to talk to the customers. When you talk to your existing customers, you would know what was it about your offers that the customers did not like. May be, you didn’t communicate your offers well enough.
COMPETITOR MARKETING: What you also need to look at, with your competitors, is the marketing strategy that they adopted. Sometimes, you have a great offer but you just don’t manage to communicate the same to your customers. Hence, a poorly crafted marketing plan can also hurt you bad.
In short, there is a lot that you can learn from your competition. Your objective should be to always be on the learning mode, because that is the best way for you to achieve success for yourself and your business. This way, you will also be able to establish a great relationship with your customers.
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