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Don’t Panic! Ok panic just a little, but in most cases people are still buying. What is changing is how they buy.
Yes, we are all aware there will be an economic slowdown in 2020, but we also hear that there will be a swift recovery. I haven’t written this about economics and this isn’t about ‘keep spending because that benefits my company’, this is about how people will change their buying habits and what you can do to win new business during difficult times.
Whether it’s B2B or B2C, you are selling to people. Those people want to make sure they are making the right decision. And, in the case of B2B, they will want to make sure they are armed appropriately to sell your product or service to their bosses or other internal stakeholders.
What will change?
Yes, there will be fewer sales opportunities. And those who are buying become more discerning. They will research and justify their purchase decisions much more than before, but they will still buy!
Your role in all of this is being able to provide everything they need to aid the purchase decision. Make sure you are helping them and understanding their current situation. Plus you will need to know the right time to give you the best chance of making that sale. We now realise, in the short term, it will be very difficult to do this face to face. So, all of your digital assets will need to be firing to help you sell.
Part of this means your sales conversation might happen further down the pipeline. I love the casual coffee catch up, but that’s gone for now. Discerning purchasers do their research, then when they are ready, either they reach out or you are armed enough to know it’s the right time to contact them.
It also means you need to be able to sort leads by likelihood to buy. When times are a little tougher, you want to be spending your time on those leads most likely to convert, plus understanding the behaviours of those leads most likely to convert.
So, here are a couple of quick questions you can ask of your business;
- Do you have all the digital assets a potential client needs to do their research?
- Do you have the digital tools to know when a potential client is reviewing your digital assets?
- Do you have the digital tools to alert you to when someone looks like a good prospect?
If the answer is ‘yes’, then you are giving yourself the best chance of selling during these tough economic times.
If the answer is ‘no’, then there’s a real chance your competitors answered ‘yes’ and they have the jump on you for closing sales.
If you do need to up your digital tech game, there are all sorts of government incentives and grants available around tech right now. Do some research, it’s worth it.
If you need help, that’s where we come in.
Finally, times are tough for most of us, I genuinely hope you are doing ok and try to stay positive. Nothing is permanent and things will change.