Getting sales in a down economy
It was difficult enough to do marketing in the past, but today’s economy makes it an even harder task. People who used to spend freely are now thinking twice about purchases, and perhaps rightly so. This doesn’t mean that it’s impossible to do business, it just calls for a little more creativity, and an understanding of what consumers are looking for during these times.
On thing to keep in mind is to be careful about how you phrase things. A word could spell the difference between a sale and a customer who got away. For example, drum up the utilitarian aspect of the products you sell rather than trying to sell them as luxury items, which may stir up guilty feelings. Since people are trying to be mindful about their finances, they might be more likely to purchase things that, in their perception, are practical.
Offering discounts is always a good way to attract buyers, if you can afford them. If you do, don’t forget to mention the original price and highlight the difference. The potential buyer will be happier to know how much he or she will save. Everybody loves a bargain.
If giving out discounts is out of the question, try rephrasing the payment terms. Break something like “$30/month” to “only $1 a day!” This way, the cost will seem a little more reasonable, and a tad less painful for their pockets. These are only a few simple ideas but I’m sure you’ve got your own. What strategies have helped you out so far? Please share your thoughts in the comments below.
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