They freeze. That’s what happens to some owners and managers when the economy slows down and prospects become harder to find and convert to buyers. Market conditions and fear of what’s happening out there causes them to stop doing these three things:
- Marketing actively to generate inquiries
- Converting every qualified prospect into a site visitor, then to a buyer
- Communicating to customers that their business is thriving
Is this you? If so, you may be inadvertently diminishing the potential you have to build new sales and repeat business.
Here’s the good news. These times are exactly when savvy business owners and managers are taking advantage of the growth opportunities in a challenging economic market. They keep marketing when their competition has slowed or stopped. They seek new target audiences, and use creative, cost-effective methods to gain exposure and generate inquiries. They learn proven marketing and sales skills and practice them. And they initiate customer attention activities.
People still seek quality in their investments, lifestyle, and purchases. But since the markets took a nosedive, many investments seemed to vanish in thin air, and recovery is predicted to be slow, they are reassessing what else they need in an investment. Most are looking for the best value, a sure thing, and someone they can trust. They are carefully determining what is important to them in their purchase decision.
This means now is the time for you to be keenly aware of what your prospects – and your customers – want or need and how you can assure them you can deliver it.
– Know who your target is, where they go for information, and what needs they have which you can meet. Adjust your marketing messages and promotions according, always communicating your unique niche. Start with your website. Is it unique, easy to navigate, up to date, interactive?
– Be visible in your community. Increase community marketing in your draw radius. Choose cost-effective activities that will put you in front of groups of your qualified prospects and opinion influencers. Generate good publicity.
– Sharpen and practice good sales conversion skills. Now more than ever, every qualified inquiry counts! Get the training you need and then make it your goal to do what it takes to convert every real prospect to a buyer. Their first purchase may not be huge, but with good customer follow-up, these customers could well become repeat buyers.
– Increase customer focus. Initiate regular activities to make contact with your customers, communicate important aspects of the business, involve them, and assure them of your stability and value in helping them be successful.
There’s truth to the saying, “When the going gets tough, the tough get going.” By making sure you keep moving forward with your marketing and sales efforts, you can turn tough times into terrific sales and business building opportunities.