It’s been official for a while – we’re out of recession and into growth here in the UK. I think we all knew this many months ago but since the last recession just seemed to drag on for absolutely forever, we erred on the side of caution.
There are many differences with consumers when in recession compared with boom times but the one I want to share may well change the way you sell.
We’re all familiar with the salesperson’s questioning for needs and wants so we can match our product or service to these.
In a recession, generally consumers are looking to satisfy their needs, their essential requirements.
In growth, it’s different – they have wants now – that need satisfying.
So next time you’re having a factfind exercise with a customer ask them what their dreams are, their wants, their desires, fantasies – call them what you like – chances are you’ll find why they want your product or service.
Until the next recession. My next guess is 2020 – 2022 – prepare now so you can rejuvenate your offering to satisfy needs and you will still be in business the next decade.