Profitable Niche Markets
Selling to Outlet Malls
If your business is having trouble reaching sales targets, take a minute and read our tips on selling to outlet malls. If your company has a history of underdelivering on your sales numbers, maybe it's time to start selling to outlet malls.
Selling is one of the hardest tasks you'll ever undertake. So it shouldn't come as a surprise that landing new customers in this industry is a daunting � but ultimately achievable business goal.
Many outlet malls expect stellar service from the companies they do business with. But service alone won't close the deal. For B2B companies that sell to outlet malls, the consistent application of sound business principles is just as important as your relationships with your customers.
Customer Profiles
Emerging sellers in the outlet mall market are advised to create customer profiles before they invest in a specific sales strategy. A little industry knowledge can go a long way toward equipping your team with the tools required to reach high value outlet mall leads.
In this industry, it is especially important for sellers to adopt a customer-centered sales philosophy. As a rule, outlet malls are very skilled at spotting B2B companies that lack an awareness of the issues that are important to them and many will hold out for more knowledgeable suppliers, even if it means paying a slightly higher price.
Marketing, Promotions & PR
Young B2B companies are often tempted to buy their way into the market. Rather than taking the time to develop relationships with outlet mall owners, these companies blanket the market with high-priced marketing content in hopes of gaining quick momentum with buyers.
Marketing is useful and necessary. But new businesses should channel their energy toward initiatives that support their value proposition. Although lead lists obtained from third-party vendors like Experian can dramatically increase the quality of your prospects, the effectiveness of your marketing efforts is limited to your team's ability to connect marketing, promotional and PR messaging with your company's unique product traits.
How to Sell to Outlet Malls
After you have established contact with a prospect, how do you close the sale?
Like many of us, outlet mall business owners are extremely busy and have no time for long sales pitches. As a rule, be respectful of your customers' time constraints and clearly communicate your main points first.
In some instances, your initial contact at outlet malls you call on may not even be the decision maker, so you'll need to quickly identify key staff and be prepared to sell to office managers or others in the organization.
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