Boosting Sales When Consumers Aren’t Spending
During a period when consumers aren’t spending a lot of money, which usually is during a recession, businesses have to align with their customers’ preferences so that they can avoid losing sales to their competitors. There is plenty of completion in the world, and it’s even more difficult when people don’t have a big disposable income.
Many customers are tired. After being locked down in their homes for weeks, and having to fight to stay working, or even find a job, means that many people are doing their best to save up and avoid any unnecessary purchases. This means in the current climate, the consumers tend to be budget-conscious and fairly thrifty.
That’s why businesses have to encourage their sales reps to really hone in on their listening skills to find out what the customers really want, even when they don’t state their desires and needs outright. Having helpful salespeople who can really read between the lines means that businesses will be able to notice what customers aren’t exactly saying.
Any business owner knows that it’s better to go for the recurring revenue instead of the one-off transactions. However, during a time like this, sales experts believe that this is a time that can be useful for creating positive impressions with prospective buyers.
Approaching potential buyers with useful information makes businesses appear as authorities in the situation, which, in turn, builds trust. Having a high level of trust, along with accurate product information is valuable for customers in terms of making a decision regarding purchases. This means that prospective buyers are a lot more likely to make a purchase from a sales rep that has a good reputation.
Meanwhile, if the target audience has any kind of skepticism about the claims from the advertisements or the salesperson, the chances of making a purchase are reduced by half. This means there is a big risk of losing customers if a business is inauthentic.
One of the best things that businesses can do during these times is to rely on following up. As prospective buyers are avoiding spending money at the present time, they are still going to be interested in good products or services. Whatever their reason might be, lacking time, lacking money, other priorities, good salespeople should always follow up with the prospects to secure transactions.
According to research, a very small number of sales actually occurs when the buyer is first introduced to a product or a service. Additionally, buyers reject products and services up to four times before they eventually make the purchase. All of this means that persistence is important – and rejections are not to be taken very seriously.
Finally, plenty of potential buyers are also unsure about making a purchase until they find out more information about the product or service. Instead of having a sales script, salespeople should have normal intelligent conversations, listen to buyers’ needs, and provide all the relevant information. With this combination, any business is going to increase their sales.