Sales Strategies During a Pandemic: Ways to Sell Your Products During a Crisis

It has become clear that we won’t be back to “business as usual” anytime soon. As companies settle into the reality that the current state of things might be the new normal

Get Ahead of the Game

First, embrace the uncomfortable. No one wants to accept it, but change is the only constant. While you’re scrambling to put your crisis plan in place, companies that recognized the changing reality and changed strategies before it was too late have seen significant increases in sales. Here are 7 ways that should guide you as you prepare for a pandemic. Build your expertise. It’s important to be prepared but knowing the facts of the situation isn’t enough. Too often, companies rely on information from outside consultants and experts for information but don’t develop a relationship with their own customer base. Learn the details of what people need and understand their behaviours, needs, and cultural sensitivities.

Create a Crisis-Proof Business Plan

How do you create a contingency plan for your company, when you don’t even know exactly what the contingency is? In a crisis-tolerant business plan, you can take stock of your witness and historical data on both the natural and the manmade crisis to make clear plans for all the different aspects of your business. Create a crisis-management plan Your plan should include the steps necessary to ensure you are prepared for whatever comes your way. Revamp your sales strategy It’s no secret that the primary metric used to assess sales should be the repeat purchase rate. Create a list of all of the potential customers in the market for your product and a list of the best ways to reach them. Is it through the traditional sales methods? Is it through social media?

Sell to Survive

In times of crisis, people turn to brands that they can trust with their future. Today’s consumer expects the brand to make a positive contribution to society, or at least provide positive alternatives. They know that someone has their best interests at heart. They also know that they can trust the brand. That trust is driven in part by the products or services being offered and the reputation of the brand in general. When the stakes are high, consumers tend to look for the brands that they can trust – those who can provide the services or products that they want, when they need them. What do you do when you can’t just rely on people’s trust?

Pricing Strategies

 “Stirring the tea” to force customers to finally purchase in this case, a medical diagnostic product line caught on fire and customers ran out. Instead of giving price breaks to spur sales, the company cut prices to boost demand. Customer Engagement Turning things around with personalized information CVS managers get access to the CRM and patient engagement tools they need to find the people whose needs most fit their policy. A customer’s name, email, or phone number isn’t enough to persuade them to buy; they need a personalized message and a high-value offer. Agile Planning Speed CVS can make rapid changes to customers’ policies based on customer feedback.

Increase Prices

Follow this framework to increase profits: • Check on inventory levels. Are you doing enough? Are your products still available? Ask your employees what they think the situation is on the ground. • Test price increases. Test your pricing if your products are in low supply and there’s no real recovery plan in the works. Decrease some of your profit margins and test whether demand remains the same. • Implement measures to increase productivity. Some options include hiring more employees, increasing production capacity or reducing costs to bring them in line with increased prices.

Offer Discounts

As disaster approached, people were understandably nervous. Before businesses were closing, make a long-term offer for 10% - 20% off whenever you re-opened. The consumer response was immediate. When you re-opened, immediately offered 10% -20% off to anyone who could get there, and that leads to a complete outpouring of support. You will be surprised that the strategy for offering discounts quickly while operating in a crisis was effective. This strategy might not be for every business, but it does work well in the face of natural disasters. Alter Expectations Is there any situation, even a natural disaster, where people don’t need to adjust their expectations? The solution is to make your product as available as possible.

Limit Inventory or Services

Limit your inventory of perishable products. For example, if a food item you sell is ready to sell, do not have a large stock of it on hand. Put these food items on a boat and distribute them quickly to those in need. Keep your services available, but make the services available only to those who can afford them. If your product is not in high demand, but still is in demand, then hold an “open call” for the items that people are willing to pay for.

Marketing Strategies

To sell products and services during a pandemic, it can be helpful to make a strategy for Each of these approaches to selling in an emergency situation has its own benefits and pitfalls. The following is an overview of each approach to selling your product or service during a crisis. Selling Products Now that you’ve identified a potential sale, the first thing to do is come up with a specific offering that fits within the emergency context. Consider building the product or service around a common need or benefit. Assemble a list of products or services that are used by people in emergency situations. See how your product or service would fit into the crisis. Identify the participants in the emergency.

Focus on Sales and Marketing

Before a pandemic, most companies are looking for new opportunities. Science tells us that the next pandemic could be much worse than the last. It could be the worst pandemic in history and companies need to get ready. Companies that already have a plan for the next pandemic are much more likely to survive and remain strong. Those that haven’t are ill-prepared and could be a new pile of ashes. What will your plan for a pandemic be? What is your marketing and sales strategy? Do you know that you need to prepare for a pandemic? Maybe it’s time to read about the top seven ways to sell during a pandemic. Enlist the help of your customers Create a “how to” marketing plan to help your customers prepare.

Conclusion

This concludes this today’s blog. I hope that you’ve enjoyed it and that you’ve been able to glean a few things. If so, I hope that this motivates you to learn more, spend less, and do more. Until next time. Have an awesome and blissful day.