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February 19, 2009 ( PowerHomeBiz ) -
Canada -
Times are tough. Companies are cutting back, people are tightening their
belts, and many decision-makers are holding off on major purchases. However,
your company has not reduced your sales quotas. Selling in a difficult
economy requires a different approach than during a robust one. Let’s look
at what you need to do to actively compete and keep your sales afloat.
(news continued below)
First and foremost, don’t believe everything you hear. Just because the
media says that the economy is sliding downward does not mean that your
sales will be affected. Your mental mindset plays a tremendous role in your
success. While it is difficult to maintain a positive perspective during
times like this, it is essential to keep focused on your main objective.
Associate with positive, like-minded people and avoid naysayers like the
plague.
Tighten your prospecting. Too many sales people cast a wide net when
prospecting with the intent of catching anything that comes their way.
However, this approach is simply not a good use of your time. Instead of
cold calling one hundred companies, determine your ideal customer and target
businesses or organizations that more closely match this description. If you
don’t know who your ideal customer is, look at your existing clients. Who
generates high revenue with high profit margins? What problems do you help
them solve? Why do they do business with you? If you don’t know, ask.
Do not, under any circumstances, say, “…and I will sell to anyone.”
This
is the equivalent of selling to no one. In a difficult market, it is
critical that you focus your efforts. Sales guru, Lee Salz recommends that
you limit your prospecting efforts to exactly twenty-five new customers.
Use an account-entry campaign. Jill Konrath, author of Selling to Big
Companies, suggests that you use a multi-touch campaign in your prospecting
once you identify your top prospects. Use a combination of email, telephone,
targeted letters, trigger events, and networking to connect with key
decision-makers. This takes planning and time which means you cannot
effectively prospect to more than twenty-five companies. Once again, this
reinforces the importance of narrowing your prospect list rather than using
a shotgun approach.
Focus your presentations. Anytime you meet with a prospect or existing
client, make sure that your presentation is directly focused on their
problem. Skip the nonsense about your company, how long you have been in
business, blah, blah, blah. Instead concentrate on showing your prospect
EXACTLY how their business will benefit from using your product or service.
If your product will save them money, tell them EXACTLY how much. If what
you sell will improve productivity or reduce errors, show your prospect
EXACTLY how. Decision-makers don’t stop making purchases; however, they do
expect more in terms of value.
Get closer to your customers. Hopefully you already have a great
relationship with your existing clients. Now is the time to strengthen that
relationship. Aggressively look for ways you can help them solve problems
they may be experiencing in their business. This does not necessarily mean
selling more of your products. It could mean connecting them with experts in
different fields, helping them on a project or recommending other resources.
Become more visible. Resist the temptation to crawl into a cave and hide
until the economy recovers. Your customers may forget about you and you may
die. Now is the time to increase your networking activities—make sure that
you network at the appropriate events. You can also increase your visibility
by writing articles for industry trade magazines, speaking at industry
conferences, and volunteering at your association’s events. Your prospects
may not have the money to make a buying decision right now, but when you
increase your visibility you may just give them a reason to buy from you
versus a competitor
Fine-tune your sales skills. As a sales trainer, I always come back to
this and with good reason. The skills you currently possess got you where
you are today but they won’t get you much further. During times of economic
uncertainty, it is essential to refine your questioning skills and learn to
ask some tough questions. How has your customers’ buying process changed?
What new challenges are they facing? What needs must your customers have
satisfied now as opposed to later?
In addition to death and taxes, the one thing you can count on is that
the economy will fluctuate. Right now, it is considerably more challenging
than it was two years ago. However, that doesn’t mean you can’t reach your
sales targets. Get smarter. Get focused. Get busy. Get ready to succeed in a
tough economy.
© 2009 Kelley Robertson, All rights reserved.
Kelley Robertson, author of The Secrets of Power Selling helps
sales professionals fine-tune their selling habits to improve their sales
and profits. Receive a FREE copy of 100 Ways to Increase Your Sales by
subscribing to his free newsletter at
www.KelleyRobertson.com .
Kelley conducts workshops and speaks regularly at sales meetings and
conferences. For information on his programs contact him at 905-633-7750 or
Kelley@RobertsonTrainingGroup.com.
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