Nurturing Sales Leads When Inventory is Low

Local Business Woman
What will set businesses apart as we begin to restock shelves and boost supply levels? Their marketing efforts. Did you keep calm and carry on? Or, did you pull back and watch from the sidelines?

The Covid-19 pandemic has completely changed the landscape of supply and demand worldwide. As we close in on the second year of dealing with everything that comes along with living through a pandemic, it's time to start facing the facts and adapting to the new normal, low inventory. Consumers and businesses are facing an unprecedented inventory shortage in nearly every sector. We truly are all in this together.

Companies that continue to advertise and pitch potential buyers, despite supply chain delays, are better positioned to capture the demand of interested customers, keep their business top of mind, and generate business faster when supply returns to normal levels. Now more than ever businesses need to keep calm and carry on. Stay focused on the company's goals and nurture leads, even if inventory is low.

3 tips to nurture leads when inventory is low 

1. Hone your lead nurturing skills

Some things will never change when it comes to contacting 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. 

For more information on how PowerChord is helping large brands manage dealers, and track qualified leads through the sales cycle, fill out this form, here.
written by

Kirstyn Cline

Kirstyn is a Partner Engagement Specialist and a contributing columnist to the PowerChord blog.

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