Selling In A Recession - Why Some People Are Going To Crash And Others Are Going To Fly!
Over the last few months there has been a lot of talk of
recession. Wherever you look and whatever you read, ever
since the American subprime crisis, talk of a recession
seems to be bombarding us from every possible media. Every
expert there is seems to have something to say about
whether there will or whether there won't be a serious
recession and if there is, how long will it last and just
how severe will it be?
If there is a serious recession, learning how to keep on
selling in a recession will be vital. Sales training might
well be the key.
I have worked with many clients who have weathered
recessions, grown their businesses through recessions and
even set up and started successful businesses in
recessions. Now is not the time to be panicking. Now is the
time to be checking your sales activities, sharpening your
sales training activities and applying solid sales
principles.
1. Believe you can and stay positive!
One of the problems with all of this talk about recession
is that once people believe there is going to be a
recession they start to feel negative about their
prospects. The nature of belief is such that people only
tend to see what they believe rather than believing what
they see. Once you believe that there is going to be a
recession you tend to only notice articles, comments and
statistics that support your beliefs.
What's more, your negative beliefs quickly affect your
outlook and the way that you feel about your business
prospects. Think about it for a second... If you thought
2008 was going to be a great year for business, your best
year yet; how would you feel? Conversely, if you thought
2008 was going to see a major recession and that it was
going to hit you and your business hard; how would you feel?
Mighty different huh? And remember, nothing's changed
here... only your belief. Having a positive and supportive
belief structure is essential if you want to succeed in any
market but it is vitally essential if you want to keep on
selling in a tough one.
Having a winning belief system does not mean that you need
to be deluded however! In the middle of the darkest
recession you don't want to have your eyes shut! But you do
need to realise that in a recession people want to work
with the best suppliers.
Suppliers that they can rely on. Suppliers that support
them. Suppliers who are going to be around tomorrow. And if
your competitors struggle, that means more sales and more
business for you.
2. Get proactive
If this year is going to be tough then you need to be more
proactive. Much more proactive. You need to do more
marketing and more selling. You need to attend more events
and do more networking. You need to do more promotion and
more canvassing. Bottom line, you need to increase your
sales activities, maybe dramatically.
In a recession many companies cut their sales activites.
They figure, "If we're not going to sell anything, what's
the point?" Many individual salespeople do this too.
Perhaps it's not a conscious choice but it's what they do.
Touche. Cut your activity, cut your sales. You're a living,
breathing, self-fulfilling prophecy! You believe there is
not much business out there, so you feel negative. That in
turn affects your activity and your activity destroys your
sales results.
Even if (and it is only if at the moment) there is not as
much business out there, then you need to be more active,
more focused and more targeted. If your competitors are
easing off a little, now is the time to up the anti and
grab your share of the market. Even if sales do slow down
temporarily, you will be in pole position when things pick
up again.
3. Sharpen your sales skills
Most salespeople do not spend enough time working on
improving their sales skills and techniques. Perhaps they
can get away with this in a booming market when sales are
easy. Perhaps not. But things will always change if the
market tightens. Sales success will go to the salesperson
who really understands why people buy and can help people
make the right business decisions. Salespeople of this
calibre stand to benefit from possible changes ahead
because there will be more business for them as their
competition falls by the wayside.
Sales will not go to the journeyman salesperson, the
mediocre wannabee or the 9-5 order taker. Salespeople like
these could well be in for a rough time.
When did you last read a sales training book on selling?
How many sales training audios have you listened to over
the last month? How many sales training seminars have you
atteneded in the last 6 months? For 80% of salespeople
reading this, the answer is zero.
If you're in the 20% who have invested in yourself...
Great, you're on track. Keep the study up and make sure you
stay ahead of the game.
If you're in the 80% who haven't... Don't panic! You still
have time. Start now by putting together your own sales
training and development plan to sharpen your sales skills
and hone your sales techiniques. Salespeople who can sell
in any market will always be in demand. Effort now will
reward you whatever this year brings.
4. Improve your service and focus on relationships
As I write this many companies will be working out how to
cut corners. They will try to save money by tinkering with
their business offerings. They will try and eek extra
profits out of their clients by cutting the bells and
whistles from their offerings. This is not a good idea.
If business is tight you want to be wowing your clients
with the best service that they have ever had, from you or
from any of your competitors. You need to be going the
extra mile. If a recession bites many companies will try
and discount to survive. They probably won't (survive), but
you don't want your clients going to them as they try to
keep their heads above water! You need to "lock in" your
existing clients now so that they won't even think about
going anywhere else.
Spend time with your clients. Build stronger relationships
with your clients. Make sure you truly understand them,
their concerns and their businesses. Find ways to help them
and add value over and above what they could have ever
expected.
5. Leverage your efforts
In a soft market many salespeople only chase the easy
stuff. They don't chase the tough stuff. Most salespeople
have all sorts of opportunities which they squander every
day and every month because there are seemingly easier
things that they can be doing.
In a tough market you must leverage all of your efforts.
This is basic sales 101 and should be stuff that you do
every day anyway... Here are just a few ideas.
Always ask for referrals. Referrals are great business but
most salespeople do not ask for them because clients often
say no. Learn how to ask for a referral properly and then
build asking for a referral into your sales process and ask
for one every time.
Upsell and cross-sell. Whether though laziness, lack of
knowledge or lack of ability many salespeople sit on
accounts where there is so much more business than they are
currently leveraging. Extending your business with existing
clients will not only make you more money, it will also
strengthen your relationships with and value to them and
their businesses.
Contact dormant accounts. Most companies have hundreds if
not thousands of "dormant" accounts. There may be multiple
reasons for this from changing business practises to
fall-outs with the client. Dormant clients may well be
redeemable and may have been "lost" purely because someone
forgot to ring them or a salesperson moved on. Get in touch
with them!
Follow up on all leads. I recently contacted 5 health
insurance companies over the web. Only one replied. You
should not be burning leads like this in any market. Follow
up on all leads professionally using a proven sales system
like the ones I teach in my sales training seminars and
programmes and you will close more business. New clients
are essential for any business in any market.
So there we are, 5 tips to help you to sell in a recession.
This year may well prove to be an interesting year for some
businesses and individuals. Some of this will be down to
the market itself. Much of it will be down to you and how
you react and respond to what might be a challenging year.
Here's my prediction for the year...
There will be winners and there will be losers. Which are
you going to be?
----------------------------------------------------
Motivational speaker and sales expert Gavin Ingham is
offering a free Sales Success mini-course and newsletter to
readers of this article. Visit http://www.gaviningham.com
now to get the sales edge over your competition.