http://www.yahkk.com/global-economy-news/selling-in-a-recession-why-some-people-are-going-to-crash-and-others-are-going-to-fly/
May 27, 2009
Gavin Ingham asked:
Copyright (c) 2008 Gavin Ingham
Over the last few months there has been a lot of talk of recession. Wherever u look and whatever u read, ever since the American subprime crisis, talk of a recession seems 2 be bombarding us from every possible media. Every expert there is seems 2 have something 2 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 2 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 2 be panicking. Now is the time 2 be checking your sales activities, sharpening your sales training activities and applying solid sales principles.
1. Believe u can and stay positive!
One of the problems with all of this talk about recession is that once people believe there is going 2 be a recession they start 2 feel negative about their prospects. The nature of belief is such that people only tend 2 see what they believe rather than believing what they see. Once u believe that there is going 2 be a recession u tend 2 only notice articles, comments and statistics that support your beliefs.
What’s more, your negative beliefs quickly affect your outlook and the way that u feel about your business prospects. Think about it for a second… If u thought 2008 was going 2 be a great year for business, your best year yet; how would u feel? Conversely, if u thought 2008 was going 2 see a major recession and that it was going 2 hit u and your business hard; how would u feel?
Mighty different huh? And remember, nothing’s changed here… only your belief. Having a positive and supportive belief structure is essential if u want 2 succeed in any market but it is vitally essential if u want 2 keep on selling in a tough one.
Having a winning belief system does not mean that u need 2 be deluded however! In the middle of the darkest recession u don’t want 2 have your eyes shut! But the truth is that when times are tough companies will look 2 work with the best partners for their business.
Suppliers that they can rely on. Suppliers that support them. Suppliers who are going 2 be around tomorrow. And if your competitors struggle, that means more sales and more business for u.
to. Get proactive
If this year is going 2 be tough then u need 2 be more proactive. Much more proactive. u need 2 do more marketing and more selling. u need 2 attend more events and do more networking. u need 2 do more promotion and more canvassing. Bottom line, u need 2 increase your sales activities, maybe dramatically.
In a recession many companies cut their sales activites. They figure, “If we’re not going 2 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. u’re a living, breathing, self-fulfilling prophecy! u believe there is not much business out there, so u 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 u need 2 be more active, more focused and more targeted. If your competitors are easing off a little, now is the time 2 up the anti and grab your share of the market. Even if sales do slow down temporarily, u 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 2 the salesperson who really understands why people buy and can help people make the right business decisions. Salespeople of this calibre stand 2 benefit from possible changes ahead because there will be more business for them as their competition falls by the wayside.
Sales will not go 2 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 u last read a sales training book on selling? How many sales training audios have u listened 2 over the last month? How many sales training seminars have u atteneded in the last 6 months? For 80% of salespeople reading this, the answer is zero.
If u’re in the 20% who have invested in yourself… Great, u’re on track. Keep the study up and make sure u stay ahead of the game.
If u’re in the 80% who haven’t… Don’t panic! u still have time. Start now by putting together your own sales training and development plan 2 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 u whatever this year brings.
4. Improve your service and focus on relationships
As I write this many companies will be working out how 2 cut corners. Companies will try 2 increase profits by cutting their service levels. 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 u want 2 be wowing your clients with the best service that they have ever had, from u or from any of your competitors. u need 2 be going the extra mile. If a recession bites many companies will try and discount 2 survive. They probably won’t (survive), but u don’t want your clients going 2 them as they try 2 keep their heads above water! u need 2 “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 u truly understand them, their concerns and their businesses. Find ways 2 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 u must leverage all of your efforts. This is not rocket science, this should be common practise for u… 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 2 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 u more money, it will also strengthen your relationships with and value 2 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 2 fall-outs with the client. Dormant clients may well be redeemable and may have been “lost” purely because someone forgot 2 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. u should not be burning leads like this in any market. Chase up all leads by using a proven sales approach and u will sign up more business. New clients are essential for any business in any market.
So there we are, 5 tips 2 help u 2 sell in a recession. This year may well prove 2 be an interesting year for some businesses and individuals. Some of this will be down 2 the market itself. Much of it will be down 2 u and how u react and respond 2 what might be a challenging year.
Here’s my prediction for the year…
There will be winners and there will be losers. Which are u going 2 be?
Free mp3
Copyright (c) 2008 Gavin Ingham
Over the last few months there has been a lot of talk of recession. Wherever u look and whatever u read, ever since the American subprime crisis, talk of a recession seems 2 be bombarding us from every possible media. Every expert there is seems 2 have something 2 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 2 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 2 be panicking. Now is the time 2 be checking your sales activities, sharpening your sales training activities and applying solid sales principles.
1. Believe u can and stay positive!
One of the problems with all of this talk about recession is that once people believe there is going 2 be a recession they start 2 feel negative about their prospects. The nature of belief is such that people only tend 2 see what they believe rather than believing what they see. Once u believe that there is going 2 be a recession u tend 2 only notice articles, comments and statistics that support your beliefs.
What’s more, your negative beliefs quickly affect your outlook and the way that u feel about your business prospects. Think about it for a second… If u thought 2008 was going 2 be a great year for business, your best year yet; how would u feel? Conversely, if u thought 2008 was going 2 see a major recession and that it was going 2 hit u and your business hard; how would u feel?
Mighty different huh? And remember, nothing’s changed here… only your belief. Having a positive and supportive belief structure is essential if u want 2 succeed in any market but it is vitally essential if u want 2 keep on selling in a tough one.
Having a winning belief system does not mean that u need 2 be deluded however! In the middle of the darkest recession u don’t want 2 have your eyes shut! But the truth is that when times are tough companies will look 2 work with the best partners for their business.
Suppliers that they can rely on. Suppliers that support them. Suppliers who are going 2 be around tomorrow. And if your competitors struggle, that means more sales and more business for u.
to. Get proactive
If this year is going 2 be tough then u need 2 be more proactive. Much more proactive. u need 2 do more marketing and more selling. u need 2 attend more events and do more networking. u need 2 do more promotion and more canvassing. Bottom line, u need 2 increase your sales activities, maybe dramatically.
In a recession many companies cut their sales activites. They figure, “If we’re not going 2 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. u’re a living, breathing, self-fulfilling prophecy! u believe there is not much business out there, so u 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 u need 2 be more active, more focused and more targeted. If your competitors are easing off a little, now is the time 2 up the anti and grab your share of the market. Even if sales do slow down temporarily, u 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 2 the salesperson who really understands why people buy and can help people make the right business decisions. Salespeople of this calibre stand 2 benefit from possible changes ahead because there will be more business for them as their competition falls by the wayside.
Sales will not go 2 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 u last read a sales training book on selling? How many sales training audios have u listened 2 over the last month? How many sales training seminars have u atteneded in the last 6 months? For 80% of salespeople reading this, the answer is zero.
If u’re in the 20% who have invested in yourself… Great, u’re on track. Keep the study up and make sure u stay ahead of the game.
If u’re in the 80% who haven’t… Don’t panic! u still have time. Start now by putting together your own sales training and development plan 2 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 u whatever this year brings.
4. Improve your service and focus on relationships
As I write this many companies will be working out how 2 cut corners. Companies will try 2 increase profits by cutting their service levels. 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 u want 2 be wowing your clients with the best service that they have ever had, from u or from any of your competitors. u need 2 be going the extra mile. If a recession bites many companies will try and discount 2 survive. They probably won’t (survive), but u don’t want your clients going 2 them as they try 2 keep their heads above water! u need 2 “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 u truly understand them, their concerns and their businesses. Find ways 2 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 u must leverage all of your efforts. This is not rocket science, this should be common practise for u… 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 2 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 u more money, it will also strengthen your relationships with and value 2 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 2 fall-outs with the client. Dormant clients may well be redeemable and may have been “lost” purely because someone forgot 2 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. u should not be burning leads like this in any market. Chase up all leads by using a proven sales approach and u will sign up more business. New clients are essential for any business in any market.
So there we are, 5 tips 2 help u 2 sell in a recession. This year may well prove 2 be an interesting year for some businesses and individuals. Some of this will be down 2 the market itself. Much of it will be down 2 u and how u react and respond 2 what might be a challenging year.
Here’s my prediction for the year…
There will be winners and there will be losers. Which are u going 2 be?
Free mp3