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Thriftiness and Desire for Simplicity Will Shape Customer Behavior By Angie Robar, Extra Mile Marketing I recently read "Understanding the Post-Recession Consumer" in the Harvard Business Review about how the trends in consumer behavior will change post recession. Basically, after 15 years of solid growth, we're feeling bloated and stressed about having so much choice. We're beginning to demand simplicity and even our most affluent counterparts are looking for thrifty options like used goods and products based on traditional values. |
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How does this translate to customer and prospect sales? Well, we're all people. Consumers are consumers whether they are consuming for their business or personal life. So, it's important to consider how these trends will impact technology buying purchases.
We must SIMPLIFY
Communications -It amazes me how difficult it can be for a customer or prospect sometimes. Do your prospects need to SCOUR your website to find out how to contact someone? Do you require they fill out a generic form? Make it easy for your customers and prospects to talk to you. Pick up the phone and ask them for feedback or what they need. Give them a phone number and email for a REAL person.
Purchasing and budgeting - Packaging a solution can really simplify purchasing for customers and potentially reduce the sales cycle length for you. Put a simple package together based on what other customers have purchased; it's much easier for a customer to swap a few things out rather than start from zero. Also, fixed monthly costs with clear deliverable expectations will really simplify the budgeting process for clients. Think about offering flat rate installations and fixed monthly service costs to help simplify your client's life.
Monthly reporting - Managing you is not your contact's full time job. Customers get A LOT of information every day and they likely just want their technology to run (without attention from them). When is the last time you actually looked at the reporting you send out monthly? Does it make any sense to the office administrator or the President? While it's important for them to know what they're paying you for, simply spitting out the logs and emailing it is NOT a way to make their life simple. Be the advisor. Take an extra minute to review the reports and summarize in three bullets any changes, actions or forecasts based on the report.
We must be THRIFTY
Offering trade-up and trade-in promotions are a great way to help customers feel like they're getting a deal. Not only do they simplify things (it's tough to get rid of old, outdated equipment) but it saves them money on new product too! If your vendors are offering something like this, make sure your customers know about it (spend the time to understand the program yourself so you can make it easy for them to get their questions answered).
Offer service discounts for good referrals. Good referrals are worth their weight in gold and while customers are feeling the pinch in their spending, they're often happy to make good connections. Now is better than ever to offer customers a discount on new or existing services in exchange for good referrals.
Jointly go-to-market with complementary partners; bundle your offers and see where you can help customers by streamlining services. Not only can you help save your customers money, you'll save money on your outreach!
Reach out through associations. Offering special discounts and exclusive savings opportunities to associations and membership organizations can help new prospects save on your services and understand what you can do for them. Not to mention, marketing through membership organizations can often save you money because the channels are already in place and the list is typically a good one.
