Help Your Business Thrive In A Bad Economy
Help Your Business Thrive In A Bad Economy
Dollars and Sense
Show how your product/service packs more bang for the buck than any other
Point out the obvious. Spell it out, break down the costs, do whatever it takes to show how it makes cents to go with your product or service. Money talks, now more than ever.
And More
Add in extra value without cutting price. Instead of dropping your prices, build value in other ways that will cost little if any money. Can you add an extra pick up or drop off service? Extended hours. How about bundle pricing. Or, even new versions of the same items taking into account what’s most important to people now like job security, payment stability and affordable financing. Can you offer a discount for multiple purchases? Find out what your prospects truly appreciate and need then set out to help them obtain it.
Educate People About Your Competition
Detail how using a competitor’s product/service is actually costing money. Make it clear how people are throwing money away when purchasing from someone else. If you really know your competition, you’ll immediately know what areas you can point out. What are people paying for when they buy from someone else vs. when they buy from you? Spotlight these differences in value and you’ll make more sales.
Generate Multiple Sales From Current Customers
Get more out of your current customer base. Create and market items to your current loyal followers. Selling to few people with ample money it’s better than selling to a lot of people with no money.
Emphasize The Bottom Line
Explain how customers can’t afford to not buy from you. Summarize all the above and load it into one massive punch to convince prospects that they must go with your company. Appeal to powerful human motives such as fear, greed, prestige, safety and acceptance.
If you find it difficult to answer the above questions yourself, you have work to do before trying to convince anyone else that what you have is a great buy. In tough economic times, you need to really put yourself in the shoes of the consumer. What’s in it for them? If you don’t have a convincing answer to that, your business will suffer. If you do, you’ll thrive in a bad economy and outlast your competition. No question.
Help Your Business Thrive In A Bad Economy - To learn more about this author, visit Michele Silence's Website.
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When consumers are stretched to the limit with finances, you may find it harder and harder to make a sale. Is it impossible to survive in a tough market? Should you just try to maintain the status quo and wait until things are better? Absolutely not! Make your company one of the few profitable ones. Your business can not only survive but actually thrive in a bad economy. You just need to re-think your marketing efforts and gear up to show the value in your product or service. Get started with these basics:
Dollars and Sense
Show how your product/service packs more bang for the buck than any other
Point out the obvious. Spell it out, break down the costs, do whatever it takes to show how it makes cents to go with your product or service. Money talks, now more than ever.
And More
Add in extra value without cutting price. Instead of dropping your prices, build value in other ways that will cost little if any money. Can you add an extra pick up or drop off service? Extended hours. How about bundle pricing. Or, even new versions of the same items taking into account what’s most important to people now like job security, payment stability and affordable financing. Can you offer a discount for multiple purchases? Find out what your prospects truly appreciate and need then set out to help them obtain it.
Educate People About Your Competition
Detail how using a competitor’s product/service is actually costing money. Make it clear how people are throwing money away when purchasing from someone else. If you really know your competition, you’ll immediately know what areas you can point out. What are people paying for when they buy from someone else vs. when they buy from you? Spotlight these differences in value and you’ll make more sales.
Generate Multiple Sales From Current Customers
Get more out of your current customer base. Create and market items to your current loyal followers. Selling to few people with ample money it’s better than selling to a lot of people with no money.
Emphasize The Bottom Line
Explain how customers can’t afford to not buy from you. Summarize all the above and load it into one massive punch to convince prospects that they must go with your company. Appeal to powerful human motives such as fear, greed, prestige, safety and acceptance.
If you find it difficult to answer the above questions yourself, you have work to do before trying to convince anyone else that what you have is a great buy. In tough economic times, you need to really put yourself in the shoes of the consumer. What’s in it for them? If you don’t have a convincing answer to that, your business will suffer. If you do, you’ll thrive in a bad economy and outlast your competition. No question.
Help Your Business Thrive In A Bad Economy - To learn more about this author, visit Michele Silence's Website.
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David BarrDavid Barr is the President of Venture Opportunities, Inc. David has been a professional business broker/intermediary since 1980 focusing on General Business Brokerage and Mergers and Acquisitions representing client transaction value from $400,000 to $20,000,000. Mr. Barr has handled the sale of over four hundred and fifty companies. David earned a university degree from the State University of New York majoring in economics and business. David holds the Mergers and Acquisition Master Intermediary and the Certified Business Intermediary designations from the International Business Brokers Association. He is also a Senior Business Analyst and a Texas licensed Real Estate Agent. For more information about David and Venture Opportunities, visit www.bizdealmaker.com. - Visit David Barr's Website |
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Anne BarrAnne Barr has over 26 years experience in sales and marketing, six years as a franchisee. She has assisted over 367 business owners and purchasers to achieve their goals in career change, transition and exit strategy. She holds the designation of Certified Franchise Executive from the International Franchise Association, Certified Business Intermediary from the International Business Brokers Association and Board Certified Broker from the Texas Association of Business Brokers. Anne is active in professional organizations, networking groups and volunteers for non-profit entities. As owner/operator of four successful businesses, Anne has proven people skills and enjoys helping clients find the right "fit" in business ownership. Visit www.FranchiseOpportunitySpecialist.com for more information about me and my company. - Visit Anne Barr's Website |
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Kim CastleWith nearly two decades in the advertising and design business, with clients like Domino's Pizza, General Motors, Direct TV, Pedigree, Wolfgang Puck, Higher Octave Music, Hollywood Celebrity Products, Disney, and Paramount, as well as thousands of entrepreneurs around the world define, structure, communicate, and position their business for greater profits, BrandU(R) co-creators Kim Castle and W. Vito Montone discovered that entrepreneurs could experience the same power that big brands command for a fraction of the cost with the world's only process-based results-drive Integral approach to business creation. BrandU(R) is helping entrepreneurs grow with the power of extreme clarity from idea...to brand...to market(TM) and helping one million entrepreneurs become successful and whole so that they can make a difference in the world. Are you one of them? If you want to experience clarity all the way to the bank(TM), get started now at http://www.brandu.com. - Visit Kim Castle's Website |
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Jeff FosterWebBizIdeas.com is a Minneapolis website design company founded to help people start an internet business by providing them with website, business, and internet resources that help foster the growth of successful online businesses and develop innovative Internet business ideas. We specialize in internet consulting & internet marketing. - Visit Jeff Foster's Website |
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David AchesonDavid Acheson is the founder of DCJA Consultancy. DCJA Consultancy is a management consultancy business specialising in B2B sales consultancy. They offer bespoke and packaged sales consultancy including Sales Optimisation Review, Interim Sales Management, Sales & Marketing Review, 1:1 Sales & Management Staff Analysis, Management Training, Solution Sales Training, Creation of New Pay Plan, KPI's, run Customer Feedback Campaigns, assist with Recruitment, Coaching, Appraisals and set up Strategic Marketing Campaigns. David spent his early career in accountancy and then moved into sales in 1982, working in Office Equipment, IT, Advertising, Training, Outsourcing and Consultancy. He has held many Senior Positions in SMBs and Global Organisations including Head of Sales Operations & Head of Business Development. His knowledge, skills and great experience of the Sales Industry has led to David making keynote speeches and running educational sessions to key businesses through organisations including The Chamber of Commerce and Business Link. - Visit David Acheson's Website |
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Leanne Hoagland-SmithAre your sales where you want them to be? Will you be one of the few who achieves sales or business success or one of the many who have failed to change? Are you tired of being told you are like everyone else? Then you may find my first book on sales of interest. Be the Red Jacket in the Sea of Gray Suits, The Keys to Unlocking Sales available at Amazon or at http://www.processspecialist.com/red-jacket.htm. This book is a reflection of my no-nonsense approach to improving sales to overall business results. If you are truly committed to making sustainable changes, then I can help you secure a positive return on your investment because I focus on executable solutions not telling you the problems you already know you have. From training to corporate (group) coaching to executive one on one coaching, my approach is to assess, create awareness, build a goal driven action plan and then execute. The bottom line question is "Not do you or your employees know it, but do you or they want to do it?" Please call for a free strategy session at 219.759.5601. - Visit Leanne Hoagland-Smith's Website |
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Cheryl MatthynssensCheryl is a life skills coach, licensed Chemical Dependency Counselor and a 20 year entrepreneur. Cheryl's dedication to achieving a life of balance led to her expanding her teaching from the simple managing of life's daily challenges to adding financial well being as well. A direct marketer with DrinkACT, she is gaining ground in the online community with her concepts of making sure business owners, entreprenuers and employees have well rounded life styles. She opened up a small affiliate site - The Balance Guide- to help others find resources for mental and emotional well being. Visit Cheryl's blog to see more of the diversity beyond business she has began offering online at www.thebalanceguide.blogspot.com - Visit Cheryl Matthynssens's Website |
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