little bitty girl

I have been getting a lot of questions from designers lately on how to sell their product and it's made me think. There really are a lot of creative people out there who have really amazing ideas, but no idea how to get it into the hands of the people who would sell them. Hence the reason for this entry. It specifically applies to fashion, selling on a larger scale but I think the principles can be used for any type of product/service you are trying to sell.

Understand Your Target Market
One would think that this is a given but you'll be surprised how many people really don't do this. You can't say that your target market is people aged 16-65. It's just not possible. Really put some thought on who are the people most likely to spend the money on your product or service. Ask yourself - how much do they make, what do they do on weekends, do they go out for dinner? Do they have children? Anything to give you a clearer picture of who those people are. Use an online survey tool like Survey Monkey and get your friends and acquaintances to participate.

Know Your Competition
Find out who they are and try to figure out why other people use or buy them. They can either be 'Direct', 'Indirect' or 'Influential' competition. Direct competition is when someone has a similar product/service and caters to the same target market. Indirect competition is when someone has a similar product/service and caters to a different target market or when they have a different product/service and cater to the same target market. Influential competition is when the market has no real relation with you but should anything effect it, it will also effect you (e.g. Bird Flu is bad for KFC).

Figure out everything you can about your competition - pricing/branding/strengths/weaknesses. Think to yourself - keep your friends close, keep your enemies closer. Try to talk to them, if you can. You'll be amazed that competition is not always a bad thing and can be the driving force for either party to push themselves creatively.

Don't Assume You Are Completely Unique
This is actually a sub-text of the above but is so neglected by designers that I felt I should make it it's own point. No one has created anything 100% unique in the past 50 years or so and it's ok. It's still YOUR interpretation of an existing idea and people will find it special enough to buy. If you tout your goods/services as a "unique" product, buyers will write you off as a total newbie in the market and you do not want to look that way. If you know your competition, you will also be better equiped to tell buyers why your product is different and special.

Set Your Prices At Market Value
Once you set your selling price, you really don't have a lot of room to play with it after. So, think about it, justify it, quantify it, and then set it. You can't start off selling a dress for $50 and decide 5 years down the road that you now want to start selling it for $250. You will lose all your original customers and trust me, it takes a while to build a customer base. This works on the other end as well. You can't go from $250 to $50. People will wonder why and the perceived value of your product/service will also go down. If you are going to make such a huge leap, then be prepared to do all the steps listed above and launch it as a completely new product. Think Dolce and Gabbana vs. D&G. Same designers, different price points and marketing.

Know Who You're Selling To
Try to do some research about your potential stores before you're going to sell them. There are lots of tools for you to do this - buying guides, the internet, friends who shop. Buyers hate it when you call and you don't know what they buy or who their customer is. Also, think about their product mix. If they buy your direct competition and do really well with it, they're not very likely to buy yours. Also, if the highest price point in that store is $75 and your product is $250, then it's also not a good fit.

Write A Business Plan
A lot of people don't do this and still have successful businesses. It isn't essential to running your business but it definitely helps keep you on track. I personally recommend it because it forces you to do all of the above and it makes you really think ahead and try to anticipate any possible pitfalls.

Be True To You
This is the most important point. Don't get lost in what is trendy or hot. Those things come and go. Be aware of them but the essence of your design should reflect you. That's ultimately what people are going to buy.

I'm definitely no guru on the subject and am still constantly learning and relearning what makes the market tick. The views above have just been what I've experienced throughout the years. Alicia from Posie Gets Cozy also has written about the subject in great detail from a craft/boutique owner perspective and is a great read. The entries to look for are January 21st and 28th.