Selling does not stop in a downturn
Economic downturns change how people buy, but they do not stop buying. Businesses still need solutions. In fact, during tough times, the need for cost saving, efficiency boosting products often increases.
The agents who thrive in recessions are the ones who adapt their approach rather than retreating.
How buyer behaviour changes
During a downturn:
- Decision cycles lengthen. Prospects take longer to commit because budgets are tighter and scrutiny is higher.
- Value becomes paramount. "Nice to have" products struggle. "Must have" products that save money or generate revenue still sell.
- Risk aversion increases. Prospects want proof, guarantees, and lower commitment options.
- Fewer people have authority. More decisions get pushed up the chain for approval.
Adapting your approach
Reframe your pitch around savings
Instead of "grow your revenue," lead with "reduce your costs." In a downturn, cost reduction gets approved faster than growth investments.
"This tool saves the average business $2,000 per month in labour costs. That is $24,000 per year back in your pocket, which matters more than ever right now."
Offer flexibility
If your product offers monthly contracts instead of annual ones, lead with that. Lower commitment options reduce perceived risk.
Provide more proof
Double down on case studies, testimonials, and data. During uncertain times, prospects need more evidence before they commit.
Be patient with the process
Accept that deals will take longer. Do not interpret slower decisions as rejection. Stay in touch, provide value, and be there when they are ready.
Finding opportunity in downturns
Competitors pulling back
Many sales agents reduce their activity during downturns. This means less competition for the agents who keep showing up. Your consistency becomes a competitive advantage.
New problems emerging
Recessions create new problems that need new solutions. Businesses looking to cut costs might be perfect prospects for efficiency tools. Companies losing staff might need automation software. Be attuned to the new pain points the economy is creating.
Loyalty builds
Customers and prospects remember who was there for them during tough times. The relationships you build during a downturn will pay dividends for years.
Protecting your income
- Diversify your product portfolio. Do not rely on a single product or industry.
- Prioritise products with recurring commissions. Your existing customer base provides stability.
- Cut your own expenses. Reduce business costs where possible without cutting prospecting activity.
- Increase your activity level. More conversations mean more opportunities, even if conversion rates dip.
On Zepys, you can explore products across different industries and find recession resistant categories like essential business tools, insurance, and compliance services.