In a down economy, the real issue with sales is that the customer doesn't see the value in what you might be selling and good salespeople know that pricing is rarely the issue — even if the customer claims it is. Instead of lowering your prices, focus your time and energy on "sweetening your deal." Consider offering a freebie, partnering with a company to offer more and lower ad costs, and most of all make sure the benefits of your product or service are fully understood.
The biggest mistake you can make is to drastically reduce your prices during a recession. Sure, it may seem like a good idea at the time, but if you aren’t ready to live with that new brand position far beyond the recession than forgo that plan of attack.
Jay Conrad Levinson, father of Guerrilla Marketing, says marketing in a challenged economy requires knowing where to focus time and energy. "The amazing thing about marketing during tough times is that high prices help," Levinson said. "Lower prices don't help because people with high prices get to say, 'During a rough economy the last thing you want to do is make mistakes with any money that you put out, and you can be assured by our price that you're not going to make a mistake such as you would be if you went with a lower priced product or service.'"
You can grow your business in today’s economy. Find out how at http://www.boostyourbottomline.com/fast_track
© 2009 BoostYourBottomLine.com
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Tuesday, May 19, 2009
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