How to increase market share
Video: 3 Tips To Increase Your Market Share 2024, July
Increasing market share is the main goal of most companies. The implementation of this task is unthinkable without a thorough analysis of the markets in which your company competes. But this is only a drop in the bucket. It is worth considering in detail how to increase the market.
Instruction manual
1
Analyze the level of sales in various outlets. Ask all your sales consultants to conduct detailed customer needs surveys. Identify whether you provide the necessary goods or services to consumers? If not, then expand your product range to meet customer needs.
2
Work directly with new leads. You can do this both yourself and with the help of consultants. Surveys should consist of the following blocks: - whether the consumer is currently buying this product and from whom; - whether the quality of this product suits him or whether he would prefer something else; - what factors are most important to him when making a purchase (quality, timely delivery, etc.); - that most of all influences it at large purchases.
3
Create a marketing campaign for potential target customers. Use the information you receive from your consultants and independent market analysis. You can conduct the latter yourself, using only the Internet and your own flair and experience. If in the process of research it turned out that customers perceive your product as low-quality, your campaign should be built around improved product quality. Show them clearly what has changed and how much.
4
Design incentives and incentives for your employees and consultants. Increase the amount of rewards when paying commissions. You can use this lever in a situation where the distributor sells the goods to the customers of your competitors. This will be a great help, which will increase the competition and market share of the company.
5
Go internationally. Nowadays, the rapid development of the Internet and other information technologies simply cannot be used in expanding the market segment. Hire international representatives who will promote your products and services in promising directions. Let each of them have its own website and delivery service. They will only have to position it on the network and monitor sales. This step will help increase market share at times.
