Usually, during a recession, businesses are forced to lower prices in order to stay in business and keep customers coming. There is a trick to doing this, however, without sounding like you’re begging for business. You don’t want your customers to think that your lower prices or big sale is the result of the recession because it will make your business seem unstable. Customers are often feeling unstable themselves during a recession, so they naturally flock to businesses that appear recession-proof. Also, a recession is usually a scary time for many people, and associating your business with a bad economy could also lead them to check out your competition. Here are some ideas on promoting your new, lower pricing without raising eyebrows among your customers.
- Choose Your Sale Wording Carefully – Businesses have sales everyday, whether there is a recession or not. Choose your wording carefully when advertising your sale so that customers assume this sale was always part of the plan. You can call it an annual, semi-annual, anniversary or overstock sale – whatever gets customers in the door without thinking your business is suffering from the recession.
- Encourage Customers to Save Money With You – Everyone is budget-conscious during a recession, so advertising your product or service as a budget-friendly solution to a particular problem is perfectly acceptable. You don’t, however, want to tie in your budget-friendly business with the recession and make people feel that they must take advantage to avoid financial problems. Instead, capitalize on the high value for a low price and customers will naturally look to your business during the recession.
- Stay Positive – Many ad slogans businesses come up with use a do or die attitude in their wording. Customers don’t want to be threatened or scared into buying from your business, especially during a recession. Avoid using drastic language and fear tactics, such as “Take advantage of this once in a lifetime deal or you’ll regret it.” This simply pressures customers and will ultimately send them to your competitors who don’t threaten them. When customers purchase from your business willingly instead of under duress, they are more likely to tell others about your business and return for more in the future.