Marketing and Sales in a Challenging Economy

I was in the middle of an employee training session recently when a customer service representative (CSR) described a situation she encountered that goes to the heart of a problem that all rural telcos face--marketing and selling their products and services in a difficult economy. * Here's the situation: A longtime customer walked into her office, sat down at her desk and unfolded a full-page, four-color ad she had torn out of the local newspaper. It was an ad placed by a competing satellite television company that I will call XYZ TV. The customer looked the CSR in the eye and said, "Why should I keep my service with you, when I can get more from XYZ TV for less?" The competitor's offering was 40% less than the customer was paying for her company's subscription TV service. The competitor also offered additional services for free to new customers. The CSR went on to tell me that she didn't know what to say. She was unprepared. * Because of our country's current economic crisis, it is highly likely existing customers and prospective customers will walk into your business and ask your CSRs. "Why should I buy from you when your competition is cheaper?" The economy is forcing people to reduce their expenses. They are looking for just about any way to save money. A recent survey of small telecommunications companies showed that 98% had customers who were cutting back on their services. * Is your company prepared to deal with the issues of customer retention, and to get new customers interested in your services while bucking a fierce economic headwind? Don't Cut It