How to Sell During a Time of Recovery
We have been hearing the phrase “a return to normalcy” being thrown around a lot, but let’s face it, it is going to take some time for businesses (especially small businesses) and individuals to feel secure financially after the Coronavirus pandemic has been abated. So after the stay-at-home orders are lifted and we begin recovery, there will still be a lot of work to do. We’ve listed some ideas to help you sell during a time of recovery.
Selling Driven by Needs
It is still important that you take into consideration your customers’ needs during the time of recovery. Recoveries mean customers aren’t buying what they want, but what they need. So What do you have to offer your customers during this time that can help them or they are in need of? This seems pretty basic, but needs during a time of recovery are different that during times of normalcy or even during the pandemic. If you aren’t offering something of current value to your customers, you won’t be selling anything. It is a good idea to start planning ahead as to how you will modify your sales and business model for the recovery after this pandemic.
A New Spin on Marketing
Besides changing up your products or services to meet the needs of customers, you’ll also need to think about how you will market. Many people and businesses will be strapped for cash, so it is important to not just make hard sells, but rather, inject a little humanity into the marketing (and sales) process. Acknowledge in your marketing pitches that you know times are tough but that you are here for your customers and that you also have this product or service that can meet their current needs. In other words, focus on value while empathizing.
However, don’t think of value as low prices. It may be tempting to slash prices to drive demand, but in the long run, it’s not sustainable. Offering lower prices, sales and discounts should be your last tactic. Instead, your marketing should focus on the value of the product or service that you have to offer. Remember, your competitors are in the same boat as you.
Cut Unnecessary Expenditures
We know this is about selling, but don’t forget to do some things that will cut or slow down your monthly cash outflows. Consider negotiating with your landlord for a lower monthly rent. See if you can cut your utility bills by checking out your vendor’s competitors. Cut any wasteful discretionary spending. Lower your inventory costs as well. Do you really need 100 units of product sitting on your shelf or can you get by with 50? By doing these things, it will free your company up to focus on retooling for the recovery. However, don’t cut back your expenses so much that you lose current customers.
We’ll talk about reaching out to new customers here in a minute, but first, let’s talk about networking with other small business owners, particularly those in the same market or niche as your company. LinkedIn is a great tool for this and if you aren’t already using it, take some time to make a profile for you and your company now. By increasing your business networking, you can stay abreast of news and gossip in your industry, giving you invaluable insight into what is happening. This knowledge can help you change your business plan earlier for the better during this fluctuating time.
Double Down on Your Best Customers
The recovery will be hard enough without losing your best customers, so double down on them. Reach out to them and express your appreciation for their loyalty and continued patronage. Ask them to come to you with any of their concerns and meet face-to-face with them, such as over coffee or lunch (if they can/are comfortable with that). It’s harder to jump ship if you are meeting in person. If you do contracts, offer to sign a long-term contract if the opportunity arises.
Lead Generation and New Customers
Finally, let’s not forget about increasing your pool of customers by reaching out to new leads. This is where Inbox Gold comes in! Our lead generation software can help you get new customers quickly. And with prices as low as $8.25 a month, it’s a no-brainer! Our easy to use software helps analyze your current customer base to build you the ideal customer profile. Based on that profile, we search our public and private sources to find you the best warm leads. Once you have built your customer profile, set up your Inbox Gold® to deliver those prospects straight to your inbox. Then all you have to do is sell!