How to Beat the Recession
How to Beat the Recession
How to Beat the Recession
As business owners we are in interesting times. You only have to turn on the news and all those depressing economic stories hit you in the face. So with our everyday leads and sales becoming harder and harder to get, just how should we go about recession proofing our business?With the huge uphill task of persuading your prospects and customers to open their wallets and purses to buy from you then, you might find yourself tempted to make a dangerous and possibly harmful decision to cut your prices. This is not only unnecessary, but is an enormous mistake to make in any strategy aimed at breathing life back into your business again.Crazy as it may seem to you, but the real truth is that not that many people actually buy on price alone - and that is true even in a recession! The reality is that most customers are looking for good value from their purchases. This being the case it is your job is to simply convince them of the value of your own products and services and then they will reward you by actually spending more with you in the recession than before. The customer's justification is that they are being prudent with their spending, where they gain better value for their money.The thing to take away here is not to reduce your prices on any account but to increase your perceived value instead!What can you do to achieve that? Easy, offer them a really powerful guarantee on your products and services. Offer them money back without tying them up with many onerous terms and conditions. Even better still would be a guarantee with no questions asked. This sort of offer works well at times like these. Your poor prospective customers, having been subjected to all the negative economic news around at the moment, are feeling particularly nervous and fearful; they may be in a position where they just have to make a purchase and you guarantee the item with a solid trustworthy guarantee. Its going to be you and not the other vendor, who is offering no such lifeline, that going to get the business.What we are doing here is offering the customer "risk elimination". When someone comes along to your business, in the bricks and mortar world or on the internet, then normally the buyer is being asked to take on all the risk. The prospect of all that risk can stop dead in its tracks many buyer behaviour decisions being made at all. The bottom line is they don't buy as they are risk averse.In a depressed economy, like now, this pattern can be multiplied to become so much worse. If, however, your business eliminates some of the risk that the customer faces in buying, then you have effectively signalled that you are different.As the seller, you have taken over the risk that the buyer previously had and this should mean that the buyer can now proceed confident that should things go wrong their money is safe. In these dark days this is surely a great way to make your business recession proof.
http://www.articlesbase.com/business-articles/how-to-beat-the-recession-3584280.html
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