Consumers everywhere are experiencing the reality of low product availability across multiple industries, including cars, homes, home improvements and more. While most customers understand the situation, it’s important to continue marketing and sales efforts to keep businesses growing despite the impact of low inventory. Research has shown that companies that continue to advertise despite supply chain delays are better positioned to capture the demand of interested customers, keep their business top of mind, and generate more business when supply returns to expected levels.
Your advertising is working hard to bring consumers into your store; so what can you do to create sales despite reduced inventory?
Learn three tips to nurture leads when inventory is low.
1. Hone your Lead Nurturing Skills:
Some things will never change when it comes to contacting your leads. They want immediate responses when they reach out to you. Don’t forget to give them prompt and useful information - our lead forms allow for consumers to add comments on what product or service they are contacting you about. You’ll need to be transparent about the availability of the product and the expected timeline for availability, but use this as an opportunity to build trust with this potential customer so they choose your company to do business with in the future.
2. Communicate Frequently:
It’s important to keep the conversation going with your leads until your product becomes available. Even in the best of circumstances, it often takes multiple touch points to turn a lead into a sale. When inventory is an issue, it might seem that customers will choose the first business that has their product in stock, however if you are providing consistent updates, keeping them up-to-date on availability, and providing educational materials, you can reinforce that you're a leader in your industry, build a relationship and ‘wow’ a customer to purchase from your business.
3. Promote Your Customer Service:
Although inventory may be low, it is the perfect time to focus and promote your other services such as warranty and maintenance work. This allows you to continue working with the customers until more products are available. Additionally, consumers will always value the customer service they experience when they contact your business - your first impression matters!
You may be struggling to manage demand and supply chain issues, but don’t ignore any potential leads that are coming your way. Your advertising investment is designed to bring in new consumers and each person who gets in contact with your business brings value. Keep the momentum going and convert these leads into sales by continuing to follow lead nurturing best practices: communicate frequently and highlight your excellent customer service. When you’re viewed as a trustworthy business in your local community, consumers will support you through many situations, including low inventory.