Consumer sentiment. Technically speaking, it’s a statistical measurement and economic indicator of the overall health of the economy as determined by consumer opinion.
Personally, I think the media has a lot to do with the way that consumer sentiment rollercoasters. If the media is telling everyone that we’re heading for a recession, then of course people are going to become more wary about spending.
So when your retail cycle is starting to slump, how can you change the lookers in your store, into buyers?
When a person comes into your store, they already, subconsciously, are looking to purchase.
So, making sure that you give them attention, is the first step to getting them over the line, and for them to have trust in you. Don’t be forced. Don’t ask “how can I help you today”. Be attentive, take in their body language. Do they want you there by their side, or do they want to take some time on their own to assess the product, and just want you to be available when they have a question?
Don’t force descriptions on them. How many times have you been browsing in a store, or even a market stall, and the sales person immediately starts throwing facts of a product at you? What’s your first reaction? Likely, it’s “ugh, give me a moment will you”. Try engaging your customer first, rather that talking at them.
When it comes time to talk about the benefits of your products, make sure that you aren’t talking jargon or expecting your customer to know technical terms. Essentially, don’t make them feel stupid. Ask opening questions, that will allow them to feel comfortable to get your to expand more. A sure fire way to get someone to walk out the door and never come back, is to make them feel inferior.
Remember to pause. Listen and ask questions. Don’t get into your spiel, and expect the customer to be rapt on your every word. Stop, pause, ask for permission to move on.
Be passionate about finding the right product for the customer, not the one you love most. It’s easy to fall into the rut of recommending the same item, because you love using it.
And when it comes to getting them to hand over their cash, ask them if they’re looking to buy today, or researching – you can tailor your offering and information, and the time that you spend with them, to maximise their experience, and allow you to navigate between customers in the store.
If a customer appears to like a product, but just can’t make it over the line, is there a way to let them try before they buy? Is it possible to take it out of the packet, have a tester, or, even let them hire a product to let them experience it for themselves? Think of those products that people get stuck on, that they find difficult to take the leap, and work out a way that you can help overcomes the obstacles to purchase.
And remember, not everyone will make a purchase the first time they walk in your store. It’s up to you to follow up, to create a relationship with them, and to build trust. So, put a system in place, that will allow you to capture their details, and to stay connected with them in the future.
And my last tip, to turn a looker into a buyer, is to give them a quote. This too, is a great way to get their contact details, by offering to email it through to them. If a customer is open to you giving them a quote, their also open to you following up. And following up is where 95% of sales are lost. IF a retailer even bothers to follow up the first time, inevitably, if the customer isn’t ready to buy, they just let it drop.
It times when the cash register isn’t ringing as much as you want, you need to be chasing up every customer, love your customer, listen to them, find them what they want, and continue to communicate with them, once they’ve gone.
If you implement those strategies, then your conversion rate should see an increase.