It can be hugely frustrating to run a business when you are putting out the energy but not getting anything in return. You might be used to marketing an idea or running a company, but if you’re not giving your customers what they want you’re going to find it makes sense when you’re not getting the return you expected. You want to be able to sell, sell, sell but if you’re finding it hard to get those margins up then you need to figure out why customers are going elsewhere.
The good news? You can overcome this and you won’t be stuck in this cycle. You won’t have to panic that your business is going to go under because it’s not going to! You can get your customers buying from you again, and understanding their shopping habits is going to help massively. So, let’s take a look at the reasons that your customers have stopped shopping with your business.
- They really can’t afford it. We are in a cost of living crisis right now which means that people really don’t have as much money as they used to. It doesn’t have to mean that you go out of business but it does mean that you have to think about whether your business can withstand economical change like this. It’s huge right now, the cost of living crisis is rising and rising, but it’s a good reason that your customers aren’t going to be splurging the cash.
- There’s no power to buy. A common reason that people aren’t buying from companies is that you don’t have enough sales power to convince people to do it. You should make sure that the sales cycle is one that can be sold and also completed by your customers because if there is any difficulty in it, you’re going to struggle.
- People don’t trust your brand. You have to engender trust from others in your brand to be successful and if they’re not trusting your brand you’re going to find that they’re not going to buy from you. You need your customers to trust that you know what you’re doing and if they don’t trust you, it’s game over.
- There is no created urgency. If you don’t have any urgency in your sales process, then you’re going to find it harder to have your problems solved by the customers. You need to make buying an urgent need for your customers and when you do this, you prevent them from going elsewhere.
- You haven’t mitigated the risks. With every purchase, be it a can of drink or a house, there is a risk. You need to make sure that you are mitigating those risks in favour of letting your customers know how to be in touch with you.
You need your customers to continue to buy from you if you want your business to thrive but they’re not going to do that if they don’t believe in what you’re selling. Take the time to ensure that you are meeting all of these points and you’ll get those sales moving again.
