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A
Note from the Publisher
Selling
isn't easy even in good times. When times are booming
you still have cautious buyers and smart well-trained
competitors. When the economy slows the game gets tougher...a
lot tougher.
Doom and gloom won't pay the rent, but action will.
Read Common Sense Ways to Beat the Recession
and get a bit of practical advice on recession selling.
Best regards,
Michael
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For
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here.
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Common
Sense Ways to Beat the Recession
by
Wendy Weiss
You
cannot open a newspaper or turn on the television without
hearing about the economy, the market, bankruptcies and tough
times. What's happening with the economy? What will happen
with your sales? With your business? With your job? Will you
survive?
Let's face facts: we are in difficult economic times and things
will probably get worse before they get better. Business owners
and sales professionals have only two courses of action available
to them:
• Option 1. Tighten your belts, cut
costs, increase discounts and accept lower sales revenues
and a shorter, smaller bottom line. Hunker down and hope that
you will survive till good times come around
again.
• Option 2. Sharpen, refine and increase
your prospecting and sales skills, and focus on new opportunities.
Yes, look for new opportunity. It's out there. While other
business owners and sales professionals are busily tightening
their belts, cutting costs, increasing discounts and accepting
lower sales and lower sales revenue, opportunity is there
for those who take action.
Chances are your competition, will be doing less and doing
with less: They'll be cutting out marketing. They'll
stop prospecting. They will discount. They'll be scared to
death to approach current customers for more business for
fear of alienating and losing those customers altogether.
Because of the way most companies react to an economic crisis,
this is actually a good time to build your pipeline, win new
business and expand your market. The key to flourishing during
difficult times is not to simply work harder; it's to work
smarter.
Here are five actions that you can implement today to insure
that you maintain your sales and grow:
• Increase your sales skills. Prospecting
and selling are communication skills and, as with any communication
skill, they can be learned and improved upon. If you are not
closing sales, it could be the economy; but it could also
be that your skills need sharpening. Great sales skills will
enable you to take advantage of the opportunities that do
exist. Great sales skills will enable you to close sales even
during difficult times. Conversely, not having the requisite
skills will allow potential sales to slip through your fingers.
If business is really slow, use some of that extra time for
education.
• Increase the number of qualified prospects
you reach. In difficult economic times many companies,
business owners and entrepreneurs cut costs by eliminating
marketing and prospecting efforts. This is a huge mistake.
While this is probably not the time to be spending large sums
of money on brand new initiatives, it is imperative to continue
low-cost marketing and prospecting activities. Without prospecting,
sales do not grow.
One of the best and least expensive sales and marketing activities
you can initiate is to use the telephone. Call potential new
customers to introduce yourself. Call existing customers to
sell them more products and services or gather referrals.
Calling your customers has the added benefit of helping to
maintain customer loyalty, which is imperative in times like
these.
• Make inroads on your competition's customers.
When times are tough customer loyalty is shaky. This could
be the perfect time to increase your market share by targeting
your competition's customers. Perhaps you offer another product
or service that your competition does not. Perhaps your offering
is less expensive or adds value in a way that your competitor's
does not. This is an opportune time to introduce your competitions'
customers to you, your company and your products and services.
• Find new applications and markets for your
products and services. Can your products and services
be used in nontraditional ways? Are there other markets that
are potentially in need of your products and services? Now
is the time to explore these new applications and markets.
If you find that your traditional market is drying up, look
elsewhere.
• Find new ways to help. The easiest
sales to close are sales to existing customers. They already
have a relationship with you. They know you and they trust
you. Go back to your customers with new applications, add-ons
and improvements for your existing products and services.
Find new ways to help. Your customers will respond.
These five tips all have one thing in common: They require
action.
In a difficult economy, it is imperative that you reach out
to new prospects and to existing customers. Don't be one of
the many who wait with their fingers crossed for the economy
to improve. Instead, keep taking proactive steps to build
your sales pipeline and generate sales revenue.
Wendy Weiss is the author of the newly released Sales
Winner's Handbook. You can read more about it here.
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Notes,
Plugs and Pitches
Infusionsoft
offers a unique automated system that combines CRM, email
marketing, and ecommerce all in one. It's for small to medium
sized businesses to compete with the big boys. Don't buy it
before you try it. You can test drive it for 15 days free
to see if it's right for you. As with any CRM solution, SalesDog
always recommends that you try before you buy. Take
a test drive here.
Reprint Permission Granted! If you would like to reprint or
redistribute SalesDog's advice and inspiration you have our
permission. SalesDog's articles are great to train and inspire
your sales team. You may also include in your newsletter or
post on your blog. We only have one simple rule...we want
credit. See sample articles and get
details here.
Effective email prospecting can easily double your sales.
There are however, some important rules you must follow. Your
subject line, opening sentence, call to action, and salutation
have to be right or your message will be immediately deleted.
SalesDog's business partner, Kendra Lee offers a new audio
program with workbook that shows you how to create prospecting
emails that buyers respond to. She shows you exactly what
works and what doesn't. Check
it out here.
I love your feedback and suggestions. I read and respond to
all emails I receive. I even read pitches but I may not respond
to them. My email address is Michael@SalesDog.com.
Please send your comments and suggestions directly to me rather
than hitting the reply button or odds are I'll never get it.
If you found this week's advice helpful, please forward
this page to your friends and co-workers who sell for
a living. They'll get Jill Konrath's "Attracting More
Customers: How to Create an Irresistible Elevator Speech."
It's free just for signing up.
The purpose of the SalesDog newsletter is to inform,
inspire and challenge you.
Note: SalesDog may be commissioned by some partners mentioned
in Notes, Plugs and Pitches. Commissions are a good thing.
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