A fistful of actions to increase sales momentum during tough times
c 5 minute read
The benefit of age is that likely you have been there and done that. In my case, the present challenging times mean a dusting down and tweaking of my tools and tactics in my Tough Times Vault. Yes, I know some people will say these are unprecedented times and so on but in reality, and at the core, they are not. I see them as a time for sales opportunity. And I know that from experience having helped many businesses during tough times expand their sales and leave their competitors behind.
One challenge you may have is that today, with so much gloomy media hitting you constantly, you can easily go into a negative mindset, a deep bunker hoping you can survive the storm.
In this post, my aim is to encourage you to think positively and avoid hunkering down. Seize the opportunity. Work your way through these 5 or fistful of “momentum actions” to get some positive thinking – they do work!
1. See Reality: Don’t allow yourself to get sucked in by the negative hype about the economy. Even during the worst of times, there are people and companies buying all types of products and services.
There are ALWAYS quality prospects that want and need your products and services. Your job is to find them and connect with them in a manner they will respond to positively.
2. Keep Prospecting: Most salespeople will slow down their prospecting as the economy weakens. Their likely feeling of helplessness can work to your advantage if you can maintain–or better increase–your own level of activity.
Now, since most salespeople will be using the most ineffective prospecting methods such as cold calling and networking, employing prospecting methods that are more acceptable to prospects will give you the opportunity to set yourself apart from the crowd. Improve your virtual skills for example.
My Todays Answers Collection is a good start
3. Solve Issues: Most of your competition will be focusing on price, not solving real issues and problems. Although the price may be a consideration, qualified prospects are more concerned about resolving their issues and problems and value, not getting the lowest possible price.
Focus on your prospect’s needs, not your competitor’s price. While your competitor is busy turning their products and services into commodities to be sold at the lowest possible price, concentrate on understanding the core issues your prospect faces and develop solutions that create value for your prospect.
4. Relationships Are Key: Human nature doesn’t change just because the economy changes. Both business and individual consumers buy from people they know, trust, and respect.
Certainly, we all sometimes buy from people we don’t have a relationship with–we may even make an occasional purchase from someone we don’t respect or trust.
However, most sales are created through relationships, not price, hype, or fast talking. That doesn’t change during a slow or weak economy or whatever you want to call these uncertain times.
While your competitors are looking for a quick sale, continue developing long-term relationships–not only will it pay off in the long run, but it will create immediate selling opportunities also.
5. Take Advantage: As your competitors become more concerned about the economy, they will begin to “shut down” and cut costs–including their marketing and sales expenses. Even disposing of salespeople.
They may cut other corners, even sacrificing customer service and experience to save a bit of money here and there. I know I’ve seen it. Including buying cheap products in a vain attempt to maintain their margin.
Take advantage of the opportunities your competitors open up for you. Cut out the unnecessary in your business while increasing your marketing and prospecting.
Take the game to them and make a conscious effort to target your competitor’s best customers. While your competitors retreat to their bunker, become more positive in pursuing new business opportunities.
Summary: I know from personal experience over many years that an economic downturn can be a time for you to expand and grow your sales business by doing the opposite of your competition.
Whilst they are cutting marketing and sales expenses, allowing themselves to become conditioned by the bad economic news, and hunkering down hoping to just make it through the storm, of bad times, opportunity calls for you.
You can turn the economy in your favor by eliminating your unnecessary expenses and expanding your marketing and prospecting, recognizing prospects still buy solutions and buy based on relationships, not just price, and by taking advantage of your competitor’s complacency, fear, and mistakes.
Over the coming weeks and months, I’ll be bringing you more posts and BVTV videos from my Tough Times Vault. If you would like to get practical advice and help NOW check out my Today’s Answers Collection for Coaching, Courses, and Clubs.
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