Three Factors That Determine Sales During A Credit Crunch

In a harsh and uncertain economic climate such as we're experiencing at present it is important to ask yourself the following questions:
"Are my competitors selling exactly the same products/services as I am?"

"Why should a prospect choose my service/product as opposed to those of my competitors?"

Prospects and clients are all the more sensitive to the similarities between different companies' products and services during economic downturns.

There are three factors that determine whether or not they choose you.

1. Does it address their specific needs/challenges?

This must always be at the forefront of your mind. Yes, you have a great product, but does it solve your prospects problems, or meet their specific needs?

2. Can they Relate to your brand?

I've lost count of the number of times I've felt overwhelmed by the absurd amount of choices when shopping for groceries in a US supermarket. In the end I usually go for the brand I know - the brand I can 'Relate' with. 

The same goes for most products and services. Prospects tend to opt for the company they best relate with. In other words 'Relationship' is key. 

3. Price

When everyone is selling the same product / service during a credit crunch, make sure your price is competitive; and offer a package that includes a few things for free.