Helping Your Customer Downsize

Posted by Deborah Chaddock Brown on December 3, 2008 under Customer Moments, empathy | Be the First to Comment

Did you hear about the mother trying to make ends meet by watering down her infant’s formula?

Have you seen the commericals about patients cutting pills in half?

Did you hear that the actors on All My Children are taking a pay cut just to keep their jobs?

Every where you turn you’ll find a story of people making adjustments to their budget and lifestyle to stretch their paycheck even further.  On the radio this morning the newcasters asked how you would ever find the words to tell your five year old that there isn’t food for lunch that day.  These are real and scary problems that Americans face as the recession takes hold of every aspect of our lives.

How does an entrepreneur survive such times?  We can’t afford to just sit by and hope that it won’t hit us or that this too shall pass.  If we have a prayer of being around 12 months from now we have to become aggressive in how we protect our business from closure.

How?

Get inside your customer’s head and start to think like they are.  Look at the products and services you offer and examine how you might help the customer downsize their need while still remaining a customer.

Payment Options

Do you offer payment options.  Where once the customer thought nothing of paying in full, perhaps now is the time to offer three easy payments or payroll deduction or gradual credit card charges.  Is there a way you can help customers pay for your product or service over time so they can continue to receive your benefits without the one time costly expense?

Break up the Bundles

In the past many companies offered bundling options; they packaged three or four products or services together for the ease of the customer’s shopping experience and the benefit of their cash register.  However, perhaps now is the time to offer options.  Offer the complete package but offer just the components they really need today at a separate cost.

Take Just What You Need

I’m reminded of the above clip from the classic It’s a Wonderrful Life. There is a run on the bank and people panic and want ALL of their money. Jimmy Stewart says “Just take what you NEED.” Miss Davis asks for $17.50 and gets her money and a kiss from Jimmy besides.

So what do your customers NEED? We all have products or services that are “nice to haves.” Now is the time to shine the spot light on what they NEED. Make it accessible. Remind your customers you have it and how it can help them.

Be Proactive

Be honest with your customers. Acknowledge that you understand times are tough. Sympathize. Empathize. Offer suggestions for how you might serve them the best. Now more than ever, your open, regular communication with customers is key. Be there for them today and they’ll be there (with their friends and family) later on.

Remember the ending of It’s a Wonderful Life? Those same people that try to make a run on the Savings and Loan are there for Jimmy when he really needs them and your customers will be also.

What other ways can you help customers downsize while still remaining customers?