Adapt to Today’s Market or Get Left Behind

After meeting and working with a few clients lately, I have noticed that old habits die hard. Companies are so ingrained with outdated marketing and sales techniques and have not noticed that the marketplace all around them is changing.

There are not as many potential clients out there as in past years and these clients have more choices then ever before. So how do you compete today?

1. Don’t stop investing in marketing. I see it continually, especially with home builders, the first thing they cut in a down market is marketing and sales investment. Wrong answer.  Consider the fact that if there are less clients out there seeking your product or service and the same amount of competitors, you had better be forefront on the clients list perspective choices or you will not be considered at all. Keep in mind as well, that print ad’s and other advertising mediums will more likely be more cost effective in a down market as well. If budget is a concern, be creative and use more online techniques like blogs, facebook etc. to get your message out.

2. Sell Benefits Instead of Features. There is an widely used statement in marketing today…”what’s in it for me?” Very true in today’s market as well. Businesses have a tendency to brag about how great they are, how many awards they have won, and take it for granted that their reputation will carry them through. What they forget is that the buyer is the the ‘drivers seat’ today and you had better wow them with how your product or service will benefit the client, not you. Explain how you will make the clients life easier, have less concerns about after sales service and warranty, and overall will improve their life and that you have exactly what they are looking for.

To wrap up…adapt to the market and the changes in the way people are buying these days. Make your offer or product irresistible to a potential client by showing them how it will fit their needs and benefit them. Lose your thinking of “that is how we have always done it” and ride this uncertain marketplace to a certain success.

To your future growth,

Larry J Clark