How to sell if competitors ruling the market

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Hey Guys,

I just wanted your expert opinion on eCommerce product selling. If my competitors are ruling the market, they are all over the place then how to stand out in market and make my own brand.

Thank you
#competitors #market #ruling #sell
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  • Profile picture of the author dave_hermansen
    It is unclear what you are asking because we do not know what you are selling. Is this your own branded product or is it a brand name product (like an iPhone)?
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  • Profile picture of the author kerlly butler
    You need to differentiate yourself with him by defining your USP which can be quality or pricing or whatever but to penetrate you need to cut your price or give some extra value in the same amount even use some extra amount or run sum giveaways to get the chunk out of it
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    • Profile picture of the author savidge4
      Originally Posted by kerlly butler View Post

      You need to differentiate yourself with him by defining your USP which can be quality or pricing or whatever but to penetrate you need to cut your price or give some extra value in the same amount even use some extra amount or run sum giveaways to get the chunk out of it
      Ewww bad advice dropping a price is a LAST resort - or could be used as a strategy for long term selling potential on platforms such as Amazon or eBay. but out in the wild that is the internet.. LAST thing I would do. If anything I might go a touch higher, and using things like USP justify the added expense.

      When you enter a market that appears saturated and they are everywhere.. you have to understand YOU have entered into their pixel net.. and they are everywhere for YOU as a consumer looking at their products. They are not everywhere for everyone.. just those that have entered into their pixel net.

      Look at something like Gary Vees $1.80 Instagram strategy and start building brand like that. ( A very simple very effective strategy ) Forget "Selling" and start connecting with your potential buyers... Ads do sell don't get me wrong, but relationships with your consumers sells more in the long run. Develop BRAND through relationships and you will be steps ahead of the guy that appears to be everywhere.
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  • Profile picture of the author dburk
    Hi Cherry Crumble,

    Nearly every new eCommerce store faces the exact same dilemma. Some succeed while others fail. The correct marketing question to ask is not "how?", but "why?".

    Why did they succeed, and why did others fail?

    Marketing Science isn't about asking how, it is a science that asks "Why?"

    The answer to why is nearly always "They had a superior marketing strategy".

    If you want to win at marketing in a competitive niche you must have a strategy, and not just any ol strategy will do, it must be superior in some fashion. It all starts with forming a great strategy that takes into account your competitors' Strengths, Weaknesses, the Opportunities they allow, and the Threats they pose.

    Learn what your top competitors are doing. Are they marketing to a broad range of products to a broad audience? If so, you can exploit this by choosing narrowly focused market segments and target each segment with an appeal tailored to the precise market segment.

    If competitors are using a focused segmentation approach, then identify segments that are not yet targeting, or segments where their messaging might be missing the mark and exploit those opportunities. There are many ways to parse market segments using a combination of demographics, geographics, and psychographics. It's very likely that your competitors are missing at least a handful of very valuable segments that have yet to be identified and targeted.

    These are just a few of the fundamentals, but a good place to start.

    Know this: It is not only possible to succeed as a late entrant to an existing marketplace you will have distinct advantages that can be utilized to improve your odds for success, if you simply identify and exploit.

    There is som much more that could be said on this topic, but alas this is a discussion form, not a reference book. I just wanted to give you some ideas on how you can succed where it might not be apparent.

    HTH,

    Don Burk
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  • Profile picture of the author webcontent
    The Best way to out rule your competitor is simply by stealing its market. Yes, why not! You can see cat and mouse game between a number of Ecommerce portals including big names like Amazon, Flipkart. You can see one sale coming from one portal and then the other. But as savidge4 said, slashing prices is going to be the last resort.
    The best option is to do a rigorous research. Unlike past when presence was helpful in attracting sales, that is not the case today. These days, you first study the business of your competitor, know what are the plus and minus and then come up with a plan that's best in all respects.

    A close study of competitor's advertisements will show which products are important for them, which products are preferred most by the clients and so on. Even SEO is here going to help you. Look at the featured products, key phrases and links. That way you will be able to rule the market.
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  • Profile picture of the author Selfmadeshe
    Hi Cherry,

    I like and agree with the answers above. I just want to add to webcontent's reply. There is nothing in terms of competitive intelligence that you can not learn about your competitor online. You can even replicate their entire sales funnel. I recommended using tools like SEM Rush and Screaming Frog. SEM Rush has a whole module that lets you spy on your competition. Please visit this link: https://www.semrush.com/blog/8-insig...ors-top-pages/ . YOu can also go to a company's Facebook pages and see all of the ads they post and advertise on Facebook (at no cost). Also, think out of the box. Please do YOU Tube advertising and use Instagram. I've gotten ridiculous results using a combination of these tactics. Stay up. It will work for you. Be extremely creative. You will win.
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  • Profile picture of the author Cherry Crumble
    But another question is : If I have to sell my products then there can be two options, Either 'Lower Price' or 'Trust'.

    Lower price could lead to loss and Trust is time taking. So in this case 'be patient and continue marketing' is the only option I think.
    what do you say?
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    • Profile picture of the author dave_hermansen
      Originally Posted by Cherry Crumble View Post

      But another question is : If I have to sell my products then there can be two options, Either 'Lower Price' or 'Trust'.

      Lower price could lead to loss and Trust is time taking. So in this case 'be patient and continue marketing' is the only option I think.
      what do you say?
      You need to first have an answer to the question, "Why should they buy from me?" If you can't answer that, it's hard to make any headway against competition.
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      My PROVEN ecommerce process, as seen on: Fox News, the NY Times & Flippa
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    • Profile picture of the author savidge4
      Originally Posted by Cherry Crumble View Post

      But another question is : If I have to sell my products then there can be two options, Either 'Lower Price' or 'Trust'.

      Lower price could lead to loss and Trust is time taking. So in this case 'be patient and continue marketing' is the only option I think.
      what do you say?
      Let data guide you with this... IF you think "lowering the price" is going to create sales then do it for 24 hours. - I am going to hedge my bets here and probably suggest you don't have the traffic coming across your offer / store to see any increase or decrease based on price in a 24 hour period.

      I think without actually seeing things, a key here for you is USP ( unique selling perspective ) and you should read up on the topic, and go look at your competitors USP's, and then come back and develop yours, NOT TO match theirs (hence the name "Unique" ) and then start sharing THAT message.
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  • Profile picture of the author Samfakroon
    Hello Bro.

    Let me see if I can bring in some value here. Look for as long as you will be selling the product you will be in competition, when you change your strategy and start selling an offer remember no one can beat you.

    I will give you an example, lets say someone is selling Baby Bibs for $3 to beat him you will require to sell your at $2 or less which beats the purpose. As a smart marketer I will sell the same bibs at $15 or $20 or even $50 and am glad if you asked how.

    Here is what You can do. You need to create an offer, that is stack many unique products that only you can get together.

    So the offer is get this amazing Bib at $15, and I am also giving this 2 pairs free, hang on am not done yet, if you get it now you also get this ebook that shows you tricks of feeding a baby, and also this video of an expert baby care is yours for free if you grab this right now.

    See how I sold a $3 for $15 and here my one time cost is the ebook making and getting interview from a baby expert which mostly would be free as long as you mention their web or some sort of giveback credit.

    So do you see how you can absolutely slam your competitor hands down.

    Anyway hope you got some value.

    Thank You

    Sameer
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    • Profile picture of the author Car Elz
      This is good. Take a product and turn it into an offer that seems more valuable but actually costs you quite a bit less than the full price, but the buyer feels like they are getting a deal.
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  • Hi Cherry Crumble,

    First of all, let's reframe the issue a little. The fact that there are dominant players in your market means that there is money to be made out there. This is a good thing, not a bad thing.

    The way you make space for yourself is generally with better products and better marketing. I run a direct response agency, and we've worked with both large, dominant eCommerce sellers as well as up-and-coming ones. My advice is to always start by applying a few of the strategies that you competitors are using in the beginning. If you see a particular product doing amazingly well for them, you should start by marketing the same or very similar. That way you can already start to have some sales. And you can back that up with a more solid backend marketing (through email - stuff like abandoned cart campaigns, etc.), which offers better deals than theirs... most money these days is to be made on the back-end anyway. Build your email list, and make sure you keep only your best buyers there. For example, say someone adds a product to cart, and after you follow them up with 10 emails trying to get them to purchase the product they abandoned, and offer them discounts, and try to market other products to them, and they don't buy anything and don't even open your emails... I would recommend dropping that person from your email list, since they're not part of your top buyers. You want to build this email list just with top buyers... if you do that, then over time you'll gain their trust and they'll buy almost everything you send their way.

    So to summarize, I would say as follows: start by adopting what works for your dominant competitor. Check their ads (for Facebook, you can check them here if you know their FB page). See what offers they have running. Check their landing pages. Lots of tools to help you identify those... SEMrush is great usually! Start framing your copy to target their audience, and learn from them.

    And then start by setting up a solid email marketing program to really get your backend going. That's where you can usually beat them. Complement this with new and better products, more exciting offers, and start identifying gaps in the market that they aren't filling... subgroups that they aren't yet addressing.

    If you do this, soon enough you will be a dominant player yourself

    I'm more than happy to answer any other questions if you have them. Just reach out to me. Good luck!
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  • Profile picture of the author misterme
    You can also read their reviews or discussions about their products, especially any negative ones, and see if you find some clues showing where they may be under-serving or overlooking a market segment, or where their businesses fail at something you can deliver, or if you see how you can market better than they can, or improve upon the product.

    That will help you find your opening, your niche, your USPs.
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  • Profile picture of the author Cherry Crumble
    Thanks guys. Really appreciate it. Meanwhile I was also working on some content marketing [ like this one ] so that it can be helpful in some ways.

    As in SEO industry, the very famous saying that "Content is King".
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