7 Tips For Selling In An Economic Downturn

It’s hard to look at this week and to not worry about the impact that current events might have on sales. Many of you may be reading this and thinking, “They already have”. Every media outlet, every paper, every radio station and (seemingly) everybody is talking about events. Even people whom I have never heard talk about economics or the economy have had something to say – usually negative!

I was listening to the radio on the way home from my Close the Sale seminar last night and they spoke to someone who said that he was going to put his money under the bed because he didn’t trust banks. You know the kind of person; one of those “random” types that the research crew see wandering down the street with a can of beer and a kebab in their hand and looking out of their BMWs they deem him to be Mr Average. Anyway, what interested me was not his advice (!) but that he knew what they were talking about at all. I think it’s fair to say that normally, Mr. Average would have little or no awareness of these things.

The message is clear… many people are starting to panic.

Now I am not going to advocate gung-ho tactics. Nor am I going to wax lyrical about how you get what you focus on. Nor am I going to blow hot air up your ass (where did that phrase come from!). You don’t need that.

What we all need is straight talking. What we need is ideas and tactics. What we need are strategies to help us to navigate this choppy water so here is my sales kick up the ass approach to selling in a downturn.

1.  Stay positive!

Your attitude determines your altitude. Your attitude determines your ability to access your skill. Your attitude determines your success of failure. If you don’t know that, you should go do something else instead of sales!

Many individuals and companies are starting to droop at the moment like little flowers in the sunshine. They need to give themselves a good dousing with common sense and motivation. Success in every market is totally dependant on attitude. This is even more the case in tough markets.

If you want to fail, get a negative attitude and I can pretty much guarantee you failure. Clients buy on emotion and you’ll never create emotion by going through the motions. Work on staying upbeat and positive. Clients have enough doom and gloom thrown at them from the media and their colleagues, they don’t want it from you too!

2. Believe you can!

I know of one large company who have just laid off their sales training department seeing it as a luxury! This is sheer fool’s folly and the directors need their heads banging together. What’s worse is that they aren’t even suffering any negative affects in their business at the moment. They soon will. Sales training and development is essential in any market, particularly tough ones. Sales training teaches your staff the skills that they require to do the job properly. Tough markets require top skills.Changing markets require changing sales skills. Sharpening your sales skills requires sales training and development.

What’s more, investing in your staff builds the belief that you believe in them and that your company is going to thrive. Cutting training teaches the exact opposite. Staff who believed that their company was “rock solid” won’t now. They’ll question, worry and share their fears and soon feelings will become beliefs and beliefs will affect their activity and their results. They will achieve what you believe. Imagination will become reality.

What you believe about this market is going to determine what you get. There’s plenty of negativity out there, don’t let you, your team and your business be a victim of this. What are you going to do to build, support and nurture positive beliefs about your company, sales and success?

3. Prospect! Prospect! Prospect!

I’ve said it before and I’ll say it again, the lifeblood of salespeople is prospecting. No matter how good a salesperson you are, prospecting is critical for your success. The more clients you call, the more chance you have of closing more sales. This is not a case of quantity or quality because quantity and quality are not mutually exclusive.

You need quantity and quality. If your conversion ratio is down, up your activity. If your existing clients are pulling in their belts, ring some more. When everyone else is sitting on their arses, get out there and meet people. Selling is not complicated, are you up for it?

4. Visit more clients!

In the busy times we often neglect some of our clients. Maybe we take on a new piece of business with a client but we don’t get chance to meet them as often as we’d like (or at all!). Maybe we have existing clients that we’d like to see but we don’t have to, so we do something else instead.

In a downturn clients want reassurance that they are working with the best, that their suppliers are thriving and that their supply lines are rock solid. Take some time out to plan which clients of yours would benefit from a face to face visit, a lunch or a coffee and make that call!

5. Check commitments!

Salespeople who learn to sell in easy markets cut corners. Not because they’re lazy but because they don’t know any better. Dotting the “I”s and crossing the “t”s is not so essential in booming markets because busy markets are sellers markets. Busy markets pick up the slack. Qualifying properly is still important but it is possible to succeed by doing a reasonable job rather than a perfect job.

Tough markets are not like this. In tough markets you need to check commitments. You cannot afford to be working on client opportunities where you end up giving “free consultancy” or where your client is just on a “shopping comparison trip”. The key to gaining commitments is asking the right questions and this is something that I teach in both my Close the Deal seminar and my Professional Selling Skills seminar.

6. Ask for referrals!

Few salespeople ever ask for referrals. Fewer still always ask for referrals. Most never ask for referrals. This is because clients can and do say “No” so it is often easier to just not ask than to risk yet another rejection.

Asking for referrals should be built into what you do. Asking for referrals should be mandatory for you, your sales colleagues and your sales team. Sure, you’ll get some refusals but if you ask at the right time and in the right way you will get some fantastic leads and introductions and you will grow your business with quality prospects.

Know a salesperson, sales manager, director, entrepreneur or business owner who would benefit from reading my blog and newsletter? It’ll take you two minutes to send them a quick email telling them to have a look at www.GavinIngham.com.

7. Strengthen relationships!

Most salespeople do not spend enough time thinking about the quality of the relationships that they hold with their clients. There are many aspects of your relationship with your clients and spending time strengthening and improving those relationships will encourage loyalty, openness and partnership in all markets not just tough ones.

Think about the various aspects of your relationships with individual clients (for example the awareness they have your company, how they view your business, how they view you, your personal relationship, your business conversations…) and devise a plan of action for improving and strengthening those. Start with your key target clients now.

So there wer are, 7 tips for selling in tough markets. Go grab yourself a cup of coffee, give yourself a talking to and plan what you’re going to do to make the rest of the year and 2009 a great time for you and for your business.

Related posts:

1. Selling In A Recession – Why Some People Are Going To Crash And Others Are Going To Fly
2. If Selling Is So Simple Why Can’t Everyone Do it?
3. Selling Pies Should Be Easy
4. See Motivational Speaker Gavin Ingham Live At The Selling Show, 28th & 29th October 2008
5. Sales Training Advice For Muppets!