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Opportunities in a Tight Market

Hi,
I had someone ask me an interesting question the other day and I thought I'd post it to the Forum to get some comments.

The question posed to me by Scott was :
How do you identify more opportunities in a market where clients are spending less and are not prepared to pay extra for premium service?"

I'd love to read some of your ideas.

Greg - by Greg Woodley
Hi,
I had someone ask me an interesting question the other day and I thought I'd post it to the Forum to get some comments.

The question posed to me by Scott was :
How do you identify more opportunities in a market where clients are spending less and are not prepared to pay extra for premium service?"

I'd love to read some of your ideas.
Greg
When times are tough, the opportunities increase for evaluating what we were doing when times were flush. Now is a good time to look to the core of what we're doing. I don't know about all business, but insurance, probably cars, phone services, and probably many other examples are areas where re-evaluation would probably be warranted and being in the right place at the right time.

Aloha... :cool: - by rattus58
I recently wrote a report about this.

Narrow your market definition (and make sure they skew affluent) and get to know their inner most desires and fears and frustrations - even those you feel may not be relevant to your offer - so well that you could have a conversation with one of them in your mind. Then align what you sell with what they themselves really want and need.

Determine what reasons they have for not buying and provide services that nullify those reasons.

Reduced spending on the part of the affluent is reportedly due to "respect for others' recessionary troubles" - that's what luxury car outlets are hearing. "I really want that car, but it may look bad on my part."

Luxury clothing outlets have seen a 20% increase in home delivery services rendered because women with spending power don't want to be seen carrying all those bags anymore... it "looks bad."

In summary - exceptional selling is exceptional selling no matter what the market looks like. - by MarcEnriquez
Hi,
I had someone ask me an interesting question the other day and I thought I'd post it to the Forum to get some comments.

The question posed to me by Scott was :
How do you identify more opportunities in a market where clients are spending less and are not prepared to pay extra for premium service?"

I'd love to read some of your ideas.

Greg
That is a terrific and valuable question for this forum.

I noticed you're b2b and also noticed that Marc is b2c as were his examples. My first thoughts were about whether there is a difference critical to your question. In general overview I don't believe there is.

I think the answer lies in a paradox that close examination of the wording of your question will help reveal. People might be spending less but that does not mean they are not prepared to pay extra for premium service (or quality, perceived value, etc.) The assumption should be discarded as the first step. Create offers of premium service and added value and market them with resolve and the belief that they will pay extra.

The opposite and perhaps obvious approach of turming away from strengthening the values, and of creating lower pricing, will often fail. Mostly because everyone else is doing it. - by Gary A Boye
I noticed you're b2b and also noticed that Marc is b2c as were his examples. My first thoughts were about whether there is a difference critical to your question. In general overview I don't believe there is.
Actually, I'm a small business marketing coach.

And you're right - there isn't a difference.

I just don't believe in b2b vs. b2c marketing - personally, I think it's foolish to believe that the decision maker isn't making decisions for his company just as emotionally as he would shopping for golf clubs or guitar lesson DVDs on HSN.

It's all B2C (which is why I chose that designation)... or C2C, if you'd like - because you shouldn't be selling a product you yourself haven't bought into.

As a "B2B" example - does anyone remember the old tagline "You'll never get fired for recommending IBM?" - It was brilliantly directed at IT pros by drawing attention to threats to their job security. It engaged them emotionally. - by MarcEnriquez
Selling is about people. However there are significant differences between b2b, b2c, and their subcategories.

The world is filled with wholesale reps that would never make it in retail and vice versa.

A person who wants to enter selling should research and learn the differences, and choose what fits them.

My remarks about sameness were in the context of the original question and should not be construed to mean I am not aware of the major differences that exist. - by Gary A Boye
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