The Salesby5 Blog

Due to the economic downturn, consumer behavior is being re-shaped.  According to an interview with John A. Quelch, professor at Harvard Business School, marketers and business people need to re-segment the way they look at their prospects based on emotions:

• Slam-on-the-brakes consumers feel hardest hit and reduce all spending.
• Pained-but-patients economize, but less aggressively.
• Comfortably well-offs keep buying, but more selectively.
• Live-for-todays carry on as usual, though delaying major purchases.

Also identify how members within each segment categorize purchases:

• Essentials are necessary for survival.
• Treats are justifiable indulgences.
• Postponables are desired items that can be bought later.
• Expendables are unjustifiable.

The most fascinating part about this shift is that both Quelch and Jim Collins agree that this economy is “the new normal” and that buying habits will be affected in the long term, being further ingrained by the length of this economic downturn.  What’s your take on this?

The past month has been a whirlwind; from saying goodbye to my father-in-law, to having most of my family sick and traveling to multiple cities. My e-mail is bombarded with “economic downturn” e-mails and events that promise to make me feel better. Some of this got to me and this morning I realized that my focus, my attention was not on my priorities.

The point is that this little tablet that we give to our clients and their employees can make all the difference, in being productive one day or completely wasting time. Today, I nailed my top 3 and I have my top 3 ready for tomorrow. Where I had gone wrong the last month is that my true #1 was not on the list; instead, it was in my mind. My #1 is to get new customers, as for significant growth you must have new customers. (Customer loyalty is a must, not an option, just salt and pepper.) Today, I planted seeds. I may not harvest tomorrow, but those seeds will grow.

For the first 25 requests, we will send you this tablet free of charge, we will pay the postage! I only ask that you use it and tell us how it worked for you.  Charles Schwab found it valuable.

A McGraw-Hill Research study looking at 600 companies from 1980 to 1985 found that those businesses which chose to maintain or raise their level of advertising expenditures during the 1981 and 1982 recession had significantly higher sales after the economy recovered. Specifically, companies that advertised aggressively during the recession had sales 256% higher than those that did not continue to advertise.

We know what worked then and what works now. A key to increasing sales is making sure you are ready! Yesterday, we worked with a company that had the phone number on a website going to a person who had left the company 6 months prior and the e-mail address went to a different employee who had left 4 months prior. This company drove people to the website for months with direct mail but were never set up to succeed. This may sound crazy and abnormal, but it happens. When people ask how we increase sales, it is like a doctor telling people how she takes patients from unhealthy to healthy. Just make sure you are ready to advertise, market and sell in 2009.

photo by bitzcelt

Economic downturns can actually be good times for launching new products, stealing market share or sharpening a brand’s image. While companies and people worry, freak out or downsize, what can you do to increase your sales in 24 hours or 24 days or the next 24 months?  Need Help?  Call (210) 403-3916, let’s talk.