The Power Shift To The Consumer Video Transcription:
Thomas Green here from Ethical Marketing Service. I just wanted to share this with you, to let you know about the changes that are going on at the moment and perhaps what you can do about it.
In relation to businesses and consumers, my take is the power has shifted to the consumer in a considerable way and they are aware of it. So if you take for example, a tenant who may or may not pay a landlord and is just open about it.
If you take price reductions you know clients or consumers are openly asking for price reductions and expecting them. You know repayment holidays for mortgages their mortgage companies are being absolutely flooded with repayment holiday requests and what does all this mean?
Essentially anything that’s ordinary or maybe not a necessity is likely going to be cut. I’m referring to businesses so if it’s the case that you or your business is not a necessity for the consumer or you are not extraordinary like Netflix or Apple the time to address it is now.
So, here are a few things that you can do to get started. First, recognise that is within your power to change your own circumstances. So, if you think other ways, you will need to start thinking about positive out comes.
In negative situations an example of that might be, if you’re in a negative situation prior to Covid-19, you might just move on to the next prospect. But, in this scenario you’re going to have to turn a negative situation into a positive one. Third is to make a list of every negative response or objection that you might run into, in any scenario that you might have and also a separate list of ways that you can overcome them.
So, that particular exercise can be quite beneficial and hopefully if you can implement it into some of the instances that you’re coming across at the moment maybe it will help.
So, I hope that’s helpful. If you’d like some help with marketing you can visit us at ethicalmarketingservice.com and I’ll speak to you soon.