Electrical products are invaluable in building computers, cellular phones, household electronics and other business tools. In this business-to-business market, your competition is other electrical goods manufacturers and inventors. These products are often bought to install in other electrical products. Reliability is a major factor in corporate buying decisions for these types of products. Focus on establishing credibility to sell the electrical products in your inventory.
Things You'll Need
- Media kit
- Press release
Identify the market for the electrical products you sell. Read technology publications and news releases from the U.S. patent office to see which companies are working on what technologies. Make a list of companies that have recently purchased patents on electronic products and a list of companies that have announced that they are in development of new electronic products.
Identify the value in using those electrical products. Make a list of all the ways that using your electrical products will help to make the goods that those corporations are producing faster, cheaper to produce or more appealing to consumers.
Create marketing material. In the book, “Value-Added Selling,” Tom Reilly writes that such messages include “printed message on invoices, recorded phone messages for incoming calls, web-based communications, trade journal ads, a customer bill of rights, brochures detailing awards and recognition your company had earned, and shipping documents.” Hire a writer to put the jargon commonly used in your office into easy to understand terms for the marketing material so that you don’t confuse potential buyers.
Build a website that gives more information and specs on those electrical products. Take pictures of the products. List specs, features and benefits of each product. List other corporations that have used your brand of electrical products. Give a background history of your company and how you came about the technology.
Create a media kit. Upload a digital version to your website. Hire a publicist to write and submit press releases to magazines and newspapers.
Hire a video production company to produce a video news release of your latest product. In the video, interview engineers and previous customers as if it were a segment featured on a news program. Send the video to local and national news affiliates through your publicist.
Send a direct mail letter to prospective buyers. Tell them when to catch your news story on the air. Post a copy of your video news release on your website. Direct your prospects to view the video in your direct mail letter.
Follow your direct mail letter with a phone call to the persons you sent them to. Introduce yourself. Ask for the opportunity to give them more details about the product. Schedule a face-to-face meeting or a tour of your facilities if possible.
Display working models at the meeting of the electrical products or the electronic products that they allow to work more efficiently. Show other similar products that don’t work as well so that your prospects can see the difference.
Ask for the sale. If the prospect wants to think it over, ask when would be the best time to follow up. Make the commitment to follow up on that date.
Call your prospect again. Summarize your previous meeting. Remind him of the benefits and features of your electrical products. Focus on the benefits. Ask when you can send the first order.
Listen to any objections. Address them as they are made. Explain how your product can fulfill the most important concerns. Address price issues by negotiating bulk purchase deals.