This is the seventh episode in our series about Selling Without Being Fake. In this episode, we talk about the three critical components of building market share: competition, convenience, and consistency.
Podcast Transcript:
Joshua MacLeod:

To bring a product to the market, especially in a competitive marketplace, you had better have a competitive advantage – doing something better than somebody else, a convenience advantage – doing something more convenient than anybody else, and/or a consistency advantage – being more consistent with your product and delivery than anybody else.

So if I’m not bringing those three things to the market, then I’m not really going to be able to gain market share. If I do bring those three things to the market – if I’m more competitive, if I’m more consistent, if I’m more convenient, then there is a good chance that I will gain market share.

Podcast Announcer:

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This is the seventh episode in our series about Selling Without Being Fake. In this episode, we talk about what a market is, and the three critical components of building market share.

Here are your hosts, Joshua MacLeod, and Bernie Anderson.

Bernie Anderson:

Speaking of all of these things like Instagram and Facebook and LinkedIn and all of this stuff that we just talked about, that really leads into kind of our topic for today, actually. We’ve been talking for the last several weeks about how to do sales without being fake.

I know it would be helpful for me and hopefully it would be helpful to anybody listening to us today. What is the difference between sales and marketing? What’s market share and how do you get market share? And what are some of the tools that we use for marketing? What are the best tools to use for marketing? Should we just use Facebook and that’s it? What are the mistakes that people make when they start marketing?

So there you have it. Go.

Joshua MacLeod:

First, we’ve got to define what a market is. So a market is a group of people in a location who purchase a product or service.

So let’s say I want to define an ice cream market for Nashville. So the big question is how many people in Nashville are ice cream consumers.

Let’s say that 80% of people in Nashville buy ice cream. So now what I have is I have a market. That, if I’ve got a million people in Nashville, 800,000 of them would represent the ice cream market. These are the 80% of the people in Nashville that buy ice cream.

So now that 800,000 that’s the size of my market, but now I’ve got to ask the question, "Okay, where do those people buy ice cream?" So I look at that 800,000 people and I say, okay, well, "Half of that market buys ice cream from a grocery store. So now I have the grocery store market for ice cream and Nashville is 400,000 people."

The other half is split between standalone ice cream shops and restaurants. And this is obviously not accurate, but let’s just say.

I’ve got 800,000 people. That’s my market that’s the amount of people in a location that purchase a good or service. Half of them are grocery store purchases, 25% are standalone shops like your Ben and Jerry’s or your Baskin Robbins or your Jeni’s Ice Cream if you’re in Nashville, and then the other 25%, we’ll just call it restaurant and miscellaneous.

Let’s say that I am Turkey Hill. So,