In Part 1 of How to Sell in a Tough Economy we talked about the basics of selling in a down economy, namely: how to keep a good attitude, how and why to get more sales training, keeping the economy excuse at bay, and the importance of economy proofing yourself. Following are 3 more tips to help you survive and thrive in today's economic climate.
1) Prepare for the price objection and build value.
People are focused on price more than ever these days. Prospects and customers will do everything they can to commoditize vendors and simply go with the lowest price. Thus it is very important that you build value. What are your primary benefits? How are you, your company, and your product better than the competition? Are you local, is your long-term cost less, can you respond to service calls faster? Whatever your benefits are, you need to accentuate them, make them more powerful, and provide more proof in ROI Models, testimonials, and the like. Finally, come up with some good responses to the price objection. Find out what the top salespeople are saying when the prospect pushes on lower price.
2) Invest more time, effort, energy, and money into your business.
Right now is a great time to leap frog everyone else. Most people and companies are cutting back and thus you should be taking a contrarian approach and jumping ahead of those cutting back. Look, if you cut back, business will drop, guaranteed. By the same token, if you invest more and work harder and smarter, you'll get more business, guaranteed. There may be less business, but the companies and people who are cutting back are leaving more on the table for you. Step it up a notch or two and go get that extra business.
3) Build relationships.
The relationship with the salesperson is the number one reason people give for doing business with a particular company. We've all seen it happen, you make an overwhelming case for your product versus the competition and yet, the prospect still buys from your competitor because they're golf buddies. Relationships are extremely important, maybe more than anything else, so you need to focus on not only staying in touch with and keeping your name in front of customers and prospects, but also on taking that next step and building solid relationships.
Bonus tip - Stay motivated. Surround yourself with positive people and stay away from negative people. Put lots of good thoughts into your head. You don't need to look at the world through rose colored glasses all the time, or pretend we're in the best economy ever but, at the same time, don't wallow in the doom and gloom convinced that the U. S. and World economies are going to fold like lawn chairs. And now I would like to offer you free access to a special sales report, monthly newsletter, and some other great sales ideas. You can get your access at http://www.completeselling.com/members/completeselling/adminpages/FreeMonthlyNewsletter