Selling products and services in markets that are stagnating or highly influenced by seasonal cycles may lead us to believe that there are no more growth opportunities. However, it is essential to "think outside the box" to allow expansion into new markets that you had not initially considered, especially if those in which you are established are saturated.
Here are some tips to help you identify and succeed in new markets.
Let me start by asking you a question: Are you just another sales rep?
Most salespeople today have a presentation-based approach. It's not necessarily their fault. Traditionally, companies tend to train salespeople on the products and/or services to be sold. The features, advantages, benefits, enhancements, etc. A salesperson can recite all of these by heart.
Sales representatives then develop bad reflexes, because they see that the added value they offer is inevitably linked to the product, when actually this is not true. The value you bring to the customer is a solution to their problems.
Let’s begin with an example. Suppose you are selling construction materials for a specific territory, which we will call Canada, in which you have a lot of success. Now that you are successful and you have made a market analysis, you believe you could expand your sales territory to the United States.
From there, you must consider the different elements you will need to approach, such as the differences of factors between the United States and Canada, and how you are going to approach those elements. That is what it looks like to build your strategy in a very specific sliver.
But, from now, I’ll look at the subject in a much more basic perspective.