Fishing in Troubled Waters!
Economies and businesses the world over are facing several challenging times including Nigeria. Retail, manufacturing and service industries are complaining of huge drop in footfalls, sales and orders. Others are fighting each other to grab the few buyers still left in the market with declining purchasing power and lack of interest in buying new apartments is forcing cash-strapped real-estate developers to delay projects. 90% of outdoor media spaces are without campaign. Sales teams in many organizations and facing an uncertain future due to steep fall in performance.
Most corporate buyers and individual consumers are buying just the essentials and avoiding non-critical purchases in this inflationary and unpredictable scenario.
So, how does one sell in such difficult times? Is there a game-plan to beat the recessionary trends in the market?
Never Lose Sight of Your Best Customers
In the booming market companies often ignored customers because there were enough buyers in the market. Service quality was poor. But in a recession suppliers and service providers need to pull up their socks and improve their performance. It’s important to listen to what your customers and consumers are saying, especially your biggest and most loyal customers, and serve them better. Retain your best accounts and you will have a steady revenue base to build upon. Downturns are good times to run loyalty programs that give your customers extra benefits and you additional business – try buy one-get-one free program.
Meet More Customers
Yes, it’s time for everyone in the organization to leave their chairs and go in search of buyers. Make more visits, see more prospects and make your products more visible. Everyone in the organization should operate in the Selling mode – train non-Sales employees on your product portfolio and tell them to get leads for your Sales Team.
Be Seen As an Essential
Can you develop themes that make your products/services indispensable? Can your offerings become part of your customer’s list of essentials?
Find Alternate Channel – Co-Selling Model
This is not the time to stick to status quo sales strategy. It’s time to try new things, new sales methods to reach as many prospects as possible. It may be smart to find other ways to sell your product. You can work out a deal with another business to promote your products. The Internet is now available as a smart, low-cost way to reach more customers. What is your net-strategy? How good is your presence on the Internet?
It’s true that the economic scenario is bleak – but it’s not as if customers have disappeared, they have only become harder to find. You need to widen your net to catch them. Stick to basics! Economic downturns are good times to recalibrate your business objectives and to test your strengths. Improve your Sales Strategy and sharpen the skills of Sales Team because it’s in such times that you need them to perform at the highest potential.
At DU opensource, more than ever before, we deliver speed and value to the bottom-line conscious in our renewed approach to service delivery. Paucity of funds in the economy demand increased value and bottom-line from buyers and sellers alike.
Understanding our clients’ deepest felt needs is now a top priority for us and key to understanding the value of what we have to offer.
We have embraced a mindset to relentlessly pursue new opportunities, open to new ideas and become experts on what advertisers need and want.
So, wouldn’t you rather advertise with us?
Click here to learn more about the Advertise Now and Pay Later service or talk to a member of the DU opensource team for personalized quotations designed strictly for low budget advertisers by calling +234-1-342 7023 or Click Here to drop a message.
For other enquiries: Talk to a member of the DU opensource team by calling +234-1-342 7023 or click the button to drop a message.