A change in the economy demands a response.
Many industries are feeling a slow down. In this kind of economy, should you/are you lowering your price? If not, what strategies are you using to adjust to help your customers buy?
Let us know what you think —
Linda
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Linda Richardson is founder of Richardson (http://www.richardson.com/), a leading sales training and consulting firm. Ms. Richardson has written 9 books on selling including her most recent, The Sales Success Handbook. She has been published extensively in industry and training journals and has been featured in numerous publications.
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3 comments:
With the change in economy people want security while most companies during this time are striving for increased profits.
To survive, companies will need to increase loyalty and brand stickiness and build increased and varied profit/relationship centres with exisiting clients while building the reputation to be ready for the influx of new customers from companies who are not preparing
In real estate in my market, location is becoming even more paramount, as is perception of value. Local amenities, proximity to mass transit and quality of construction are very important. If you have those in a good location, your product's in demand. If not, forget it, especially in condos or retail.
The economy is certainly on most business peoples' minds these days.
To increase loyalty and business value for our clients we've been adding a bit more value to each transaction/interaction.
For example, yesterday we had two consultants on an hour-long phone call with a client rather than the one person they were expecting.
Having recently completed another project, we had decided to include a bit of additional content which was not in the original scope of work.
In both cases, our efforts were much appreciated--the client knew we were doing our best to increase the return on their investment without having to lower our fees.
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