How in the conditions of economic recession , sell the most
With the advent of special economic conditions, customers’ buying behavior also changes accordingly. And the sales team of any business must change their sales strategies in line with this turnover of customer behavior. Otherwise, when the economic situation changes ( for example, entering a period of recession), they remain out of the market and do not achieve their goals.
Fear of buying usually becomes the main challenge for customers in bad economic conditions. On the other hand, sellers, due to the decline of the market and failure to achieve the organization’s sales goals, push customers to buy and inadvertently cause them to feel afraid of buying.
Here are some of the challenges that sellers face in a recession:
- Customer budget constraints increase the fear of making the wrong decision.
- Previously, the purchase decision was made only by the purchaser. But in certain circumstances, higher levels of the organization make these decisions.
- Customers increasingly testing is to buy tend to spend the day about the benefits of the Obsessed.
- They do not trust the seller very much and want to get more information from other sources.
In times of recession, four different strategies can be used to improve sales. First we need to divide customers into three categories:
- Current customers
- Unsuccessful customers
- potential customers
1. Retain current customers
Businesses must always strive to retain their old customers . Retaining existing customers is easier and less expensive than attracting new customers. The likelihood of repeat purchases by customers present, 25 times more than customers have ever had a time you did not buy.
Customer relationship management
One of the key points in customer retention is proper communication management . If you do not use a comprehensive and specialized strategy for managing customer relationships in your business, you should not have high hopes for retaining your existing customers.
For example, professional salespeople use CRM software .They are used to organize information about customers and establish effective and timely communication with them. Having a centralized database of customer- related data and records allows sellers to anticipate their needs and increase sales by making calls through various channels at the right time.
2. Create new sales opportunities
The sales team must work to identify and attract new customers. One of the most effective of these methods to attract new customers, and recommend your old customers.
Experience has shown that if satisfied customers refer you to others, the chances of sales increase by up to 20%. And if they recommend buying from you to others, that number will increase to 60%. So you need to somehow ask your old customers to introduce you to their colleagues. The best time to make this request is when the customer is satisfied with the quality of your product or service or you have done something for him that has made him happy.
3. Improve initial relationships
It is always important to stay in touch with old customers. Keep in mind that they are familiar with the type of products and your ordering process; So you will spend less time introducing and other sales processes. If you have severed links with their old customers should look for the cause of dissatisfaction and resentment builds up and it ‘s a fair fix.
Of course, always dissatisfied with only a Brngshtn customer is and sometimes to the proposed offering the best of the east of reasons such as the desire to continue a customer relationship with you.
4. strengthen and improve the relationship with existing customers
The fourth strategy is to increase sales , especially in the recession economy , improving and developing relationships with existing customers. Enhance relationships with existing customers , to take advantage of opportunities is very important . There are three ways to develop relationships for this purpose. If sales targets themselves not reached , one of the reasons why it can not act in this way to be. These three methods are: :
- Sell more product to the current buyer.
- Selling products related to the main product
- Selling the product to other branches and subsidiaries of the company .