Focus on the Value of Your Products and Services

During an economic downturn, consumers naturally tighten their purse strings. The media talks about this phenomenon as if it were a mysterious ailment that has suddenly struck our nation. But if you really think about it, isn’t this what we should do in an economic downturn? Shouldn’t we be more careful with our money? Shouldn’t we watch our budgets? Shouldn’t we be careful about going into debt?

I think, though, that with all the ballyhoo from the press we forget that consumers are still willing to buy. They just need to see the value in the product or service. Show them the value and they are more willing to open those purse strings.