Four strategies for selling in a down economy … |
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There is an upside to everything in life, even to a down economy. In this instance, it’s called opportunity.
As your competition experiences cutbacks or closes their doors, out there, in the wild blue yonder, are potential customers. If you don’t take aggressive steps to secure and lock in this newly available market share, someone else will.
Slowdowns, which are a normal part of the business cycle, afford the opportunity to review one’s brand, image, and marketing strategy. When the economy recovers -- as it inevitably does -- those that are well positioned will not only survive, but emerge in a position of strength. Now is the ideal time to ramp up sales and marketing efforts in order to gain momentum for the better economic times that lay ahead.
Get creative!Now is the time to not only work harder, but work smarter as well. |
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Go “Green.”The best way to grow your sales is organically – with your existing customers. Reconnect with them. What are their biggest challenges? What is most important to them NOW? As the economy has changed, so have the needs of many companies. What creative solutions and strategies can you offer for today that can become a solid part of a plan for tomorrow? What services can you offer them that will make their business model work more effectively? |
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Instead of trying to get more “bites” out of a shrinking pie, make your pie bigger.Expand your circle and widen your sales efforts. Network and tap into new markets that you haven’t considered. New groups and organizations are emerging constantly. Which ones can help you connect with your audience? |
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It’s a numbers game. Reach out!Although it sounds basic, simply making more calls can open doors. Brian Tracy, one of America’s leading authorities on the art of sales, claims that if you make 100 calls, and secure 10 appointments, you will get one sale. According to a study by the Thomas Publishing Company, 80% of sales are made on the 5th call. But only 10% of sales people call more than 3 times! |
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Motivate the decision making process.How can you assure cost-conscious customers that they are getting the most for their dollar, that their decision to buy is the right one? Add unique value to your existing product/service: consider extended service guarantees, faster installation, an added feature, or reduced shipping costs. Along with a targeted marketing strategy that promotes these new benefits, this will not only help secure new customers: it can also help grow your existing business as well. |
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