There are many things to consider before selecting a product to sell as a sales agent. It is
very important to select the best product to bring into the market and have the right product
idea; having the wrong product idea would ultimately lead to bad sales.
These are the following steps you should take before selecting a product;
- Upfront Market Research:
Carrying out market research should be the first thing anyone should do before putting a
product out there to sell. Early market research would show if people are interested in it if it’s
a necessity or just a bad product.
After getting feedback by carrying out surveys, the next thing to do is to pre-sell your
product. An example of this is what happens in crowdfunding campaigns.
- Potential for a High-Profit Margin
The ultimate goal of selling and marketing a product is to make money. Thus, you need to
focus on selling a product that has a high-profit margin. You would want to sell a product 2x
or 3x the amount it costs to manufacture the product.
However, note that you can’t always expect to make a huge profit when first starting. At the
early stage, you need to direct your efforts on minimizing your development costs, not on
You should be able to know whether your profit increases as your production level becomes
- The superiority of your Product in its Functionality, Presentation, and Marketing.
You want to be sure that if a product similar to yours is out there, yours would be superior in
all aspects. You should know what gives you more edge in the market and your unique
- Solves a Known Problem
The product needs to be solving a problem people know they have or providing what they
Selling a product that solves problems that people did not know they have can be difficult at
times, nevertheless, it could sell well in the market once people understand the buzz about
- The Right Price
It is important to make sure you are selling your product at a reasonable price.
You should not sell it for a lower price nor should you sell it for a ridiculously high amount.
Take into account all the costs expended during the manufacturing process, the economy,
who it would have been if you had employees working for you, and your market target.
You need to make sure you are not wasting your efforts or time on the wrong product.
The key to having a profitable business is to identify what your products stand for and to
believe in the product that you are selling. If you do have an iota of faith in what you are
selling, then you probably won’t be successful at selling it.