Selling in an uncertain market and even making investment decisions for your own business right now can feel like a precarious prospect… So how do you help people to make money decisions when they’re scared, sceptical and uncertain?
I’m re-releasing this popular episode because with consumers tightening their belts, businesses need this advice right now, as much as they did in 2020.
In this episode, we cover:-
- How to create certainty in working with your business even in a recession.
- What strategies ARE NOT working right now and what’s actually damaging your credibility and selling power.
- And how you reach the tipping point where people start queuing up to work with you vs chasing them down.
Listen using the player above or read the blog below.
Big Money Decisions in an Uncertain Market
Last year, we tipped over £330,000 mark which smashed our goal in the travel industry during the pandemic. While we knew our warm audience would buy we still have a cold audience coming through to us as we are a market-leader name in this area. The tipping point is when your warm audience shares your business for you. Getting those recommendations means people will trust you.
Yet, we are in a recession and at the end of a pandemic. There is a wavering of wondering if we would reach those goals. There is an element of uncertainty. On the other side, we can see that people still buy – even in an uncertain market. People are buying from the people who show up and the businesses who have a name they can trust. People do not want to gamble with their money.
Investing in an uncertain market
Business owners have had to make big decisions. There are concerns about investing in an uncertain market. Everyone is feeling this way right now. It can feel unstable right now, especially for the kinds of businesses in Elevate. Usually, these businesses have been around a while and have invested significant money already. Often they are missold and it’s not been the right thing for their business at that time.
This adds fear to reinvesting. In the coaching industry, this is prevalent but across all industries, people do not want to gamble. High-ticket webinars where people are sent from a cold advert – this is not enough. If you want someone to part with money, you need to build trust through conversation. There needs to be a personal connection.
Your people need you to reassure them. This is more so if you haven’t got that market-leading name. Stop relying on automation, dull content, and a quick-win post. You need to put more effort into building those relationships. By effectively warming up your audience this way, they already want to buy when they get on that call. The sales call is more important than ever in an uncertain market.
Case studies can really help build the trust and relationship you need to sell high-ticket services. It means someone can go and check out the kinds of results that you get. Again, it’s they might have done due diligence in the past with testimonials, but people need to know at a core level that you’re at the right level. The only way to get this is third-party credibility.
If you have not got this third-party credibility yet, go out there and get it. Get people to talk to each other and where you can reassure your future prospects that this is right for them. If you are not in the high-ticket business, it is less of a gamble but people want to know that it’s right for them. So the more social proof, the better.
Make sure you have thorough testimonials that demonstrate the transformation. And make sure you’re creating content assets with those testimonials and they are being promoted. Then people will build trust over time. The one-hit-wonder, see you and buy, will now work.
For example, in the high-ticket webinar model they invest in one advert that goes into a webinar and then straight into buy-from-me. There is not enough trust built. What else do you need to do before they see the Facebook ad? Where is the warming up the audience before the webinar and call. If they know that it is a sales call at the end and they are not ready to part with their money for you, it is because they don’t know and trust you yet.
Reassurance and integrity
Give them that reassurance before the sales call. Then even on the sales call they may want extra reassurance. Give them everything they need to make that decision. Spend the extra time with them to help them know they are making the right decision.
Stop with the quick-win mentality and start marketing for the long gain. This is why your business will thrive. It is what will help people invest in your business. People will not jump at your service from the word ‘go’. It is about your positioning and how you help people.
You cannot talk to everyone who follows you but not everyone will reach out to you. The people who do reach out, make sure you have quality conversations with them. This is how people start sharing the great experience, whether they have bought from you or not. When people have a good experience, it builds trust and they will share it.
For those not reaching out and not engaging, what are they reading and watching? This is key. You can’t control when people but you can control what they see. How strategic are you being with what you are putting out? Putting out content for content’s sake will become mediocre. If someone sees this, they will move on. Put the time and effort into creating quality content so that what someone sees at every stage will hit the mark.
If you are not creating quality content all the time, you are damaging your credibility.
Engagement is great but it does not bring in the money. You should be testing how many people are reading the content and then reaching out to you and buying from you rather than likes, comments, and reactions. Who is buying from you? Why are they buying from you? And is the content making an impact?
You need to see the return on investment for your content in terms of money. If not, it is a business that focuses on self-gratification. What content are you creating that helps people make great decisions and buy from you? It’s about educating them on you and that you’re the one to work with.
Be worth knowing rather than being well-known.
If you are positioning yourself as the one to work with, you believe in your methods, and you are articulating this to your market then there is no reason why your business will not be successful right now. Think about how you position yourself in your market. Are you doing everything in your power to communicate this to your audience? What are you doing to make your opportunity a sure thing so they get the transformation that they want?
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