Strategies for Tough Economic Times: The right marketing and sales messages for today’s customers
There’s no absence of words to live by. They range from advice—“On the keyboard of life, always keep one finger on the escape key”—to deviously practical observations—“By the time you can make ends meet, they move the ends.”
Sales and marketing professionals doing battle in an economic environment where buyers are bedeviled by financial pressures, can benefit from words to work by. Here are eight words that send the right message to today’s customers:
1. Security—Everyone wants to avoid unnecessary risk. Today, even seemingly small mistakes can lead to unemployment. The most common question from buyers is, “What are the implications if I make this buying decision?” From the get-go, work on helping customers understand why it’s safe to buy your product or service.
2. Agility—In Blown to Bits, the authors pointed out a lack of “legacy systems, legacy assets and a legacy mindset” gives companies the advantage in today’s marketplace. Contrary to how it may seem, two of the most agile industries are real estate and restaurants. Rather than stand by and hope for the best, both responded quickly and creatively to the economic slow down.
Instead of trying to talk consumers into changing their thinking about the housing situation, real estate companies changed their advertising almost instantly. In print and on the Internet, ads featured much lower-priced homes in many communities. So, too, from fast foods to fine dining, restaurants began advertising interesting menus at lower prices. They created buzz by bringing consumers something new and different without discounting.
The best strategy is to move quickly and survive—not wait and die.
3. Productivity—“In the coming era,” writes Kevin Kelly, Senior Maverick at Wired magazine, “doing the exactly right next thing is far more fruitful than doing the same thing twice,” which may be the only definition of productivity that really makes sense today.
Position your product or service in terms of continuous productivity improvement. Say, for instance, “We’re not only going to help you increase productivity now, but here’s how we are going to help you over the longer term.” A dramatic example of this is the Apple iPhone. From the start, it has been portrayed as a self-improving product, rather than the latest and greatest gizmo, which is the usual approach.
4. Convenience—With time in as short a supply as money, anything that helps eliminate inconvenience sends a powerful message to buyers.
5. Leadership—It didn’t take long for auto manufacturers to jump on the hybrid bandwagon. But so far, Toyota, the first to come out with dual-energy vehicles, is the perceived leader. Its Prius took 51.2 percent of the segment’s market share in 2007. When it comes right down to it, we recognize leadership when we see it; not when someone talks about it. Whether it’s delivering on promises or helping buyers be more successful, the task is to draw a picture of leadership that captivates customers.
6. Savings—Whenever we buy from a salesperson, there’s a gnawing fear the purchase will benefit the person making the sale more than the buyer. In tighter times, this fear seems far more pervasive. Unless a salesperson makes a point of addressing the cost-saving benefits of the purchase, the sale is probably in jeopardy. The goal today is to help customers understand how making appropriate purchases can be the right step for reducing their total operating costs.
7. Reliability—Some companies that jumped into outsourcing help desk services overseas a few years ago are now bringing them home for good reason: customers complained the service was unreliable. Showing customers they can count on you is the key to continuing sales.
8. Value—A man who grew up poor recalled with amazement that his mother always bought him expensive Selby Arch Preserver shoes when he was a child. She believed the shoes were better for his feet than less expensive shores and didn’t wear out as fast. It’s easy to be seduced into believing price is all customers care about. It isn’t true. It’s what price represents that makes the difference.
Words count because they often symbolize crucial issues. Words that capture what customers are thinking can help keep us focused on the issues, especially when making sales in tough economic times.
By John Graham
John R. Graham is president of Graham Communications, a marketing services and sales consulting firm. For more information, visit www.jgraham@grahamcomm.com or call (617) 328-0069.