Selling in this market
I recently went to a high-powered sales conference where the speaker urged the audience to find opportunities to up-sell customers by showing three options of your service or product, loading more value as price inches up, e.g., I’ll throw in the steak knives free when you get the Cadillac. While that works in good times, consumers are looking at buying less not more. How can your firm sell them just what they need, not more than they really need? Businesses are consumed with how to get by, not get a good deal on things they can live without now. When selling to today’s customer, give them options that meet their austerity budget BUT don’t undervalue your services or products. Find ways of giving them smaller bites of what you can do, rather than discounting your regular services. This sets up a dangerous formula: they’ll expect to pay less even when the economy turns around. Find ways to work with customers to get both of you through these times, without eroding your position, value or revenues.