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It’s a question I hear often from business owners. The answer is a resounding YES! The real question should be, how should we be selling? Here are some tips for selling in challenging economic times.
Let’s start with value. Don’t devalue your product or service even though it may be tempting to lower prices. A better solution is to offer more, such as a longer guarantee or additional tech support. Make buyers feel that they are getting more value for their money.
Focus on your customer’s needs. This requires you to listen. Ask questions. Then ask more questions. Taking the time to get to know your customer, letting them talk about themselves and their business builds trust and allows you to solve their problems with your products or services. A buying decision is 80% emotional, and only 20% logic. Actively listening will build a trusting relationship, and make the customer feel good about buying from you.
Keep reaching out to your existing customer base. They are the ones who will carry you through a recession. The majority of customers leave because of perceived indifference – they think you don’t care. Demonstrate that you appreciate them and their continued business. That could be through mail, email, special offers, or a loyalty program. Ask your best customers for testimonials, referrals and reviews.
We define selling as “professionally helping people to buy.” Offer products that are of high value. Take the time to understand your customer’s wants, needs, budget, and problems. Then offer solutions that match the customer, not the seller. Finally, show your appreciation for your customers.
Yes, it is OK to sell during a recession.
If you need help growing your business during these challenging times, we are offering 10 hours per week of free coaching sessions. You can request yours here.