By Neal Glatt

Recently I’ve been getting asked what is happening with the economy.  Of course, the real question behind this questions is why am I finding less and less customers coming to me willing to buy our services?  It’s not just you - there’s a real change in consumer behavior.  Here’s what’s happening, and how to win more sales anyway…

Economically speaking, there is a real mixed bag of indicators.  Inflation is still up and interest rates are still high, which isn’t good.  But job creation and the stock market are both up which isn’t bad.  How can this be?  Part of the explanation is that consumer spending is showing signs of slowing down as savings deplete, but more importantly, what people are buying is changing.

Travel costs like airfare, hotels, and car rentals have fallen in price year over year, which is something that can’t be said for other spending categories.  So many consumers with limited funds are seeking experiences like a vacation instead of investing in their homes.  Plus, new home sales are also down as low interest rates on existing mortgages stop many would-be buyers from moving.  And of course, many homeowners already invested in their yards during the pandemic era stay-at-home era.  As a result, there are three steps I would focus on if I were selling landscape services to increase sales in a mixed market:

First, work on moving up the market to consumers who don’t have to make tradeoffs.  When your customers are forced to choose between backyard makeovers and summer vacations, the chances of making a sale drastically decline.  But for homeowners who are far wealthier, disposable income still exists to create sales energy.  Perform a market analysis and determine what size sale needs to be targeted and where to create new minimum project costs to disqualify leads that won’t buy.

Secondly, I would focus on project refreshes.  Perhaps it’s time to reconnect with every customer to offer patio cleaning and joint sand replacement.  Or augmenting a mature landscape with new plant material to enhance seasonal color.  Or maybe expand a project in a new direction with an add-on like lighting.  Whatever the opportunity, there’s always money in the existing customer database.

Finally, I would get proactive in sales planning.  If the pipeline is drying up then great sales teams need to start now on identifying new lead sources.  Is a networking group the best next step?  Or tradeshow booths?  Or direct mail?  No matter what the answer, execution will take weeks and months, not hours and days.  Planning enables execution and the future of the business depends on it.

If you need sales help, check out our suite of videos here on GrowTheBench.  And if you want to chat about what sales hiring, coaching, or training looks like at the highest level, email me at Neal@GrowTheBench.com and I’d be happy to see if we’re a fit for each other.