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Money Matters
» Business - General
Choose Where You Prospect
When you rely on call-ins or walk-ins for sales leads, you deal with a cross section of humanity. Remember that credit tightens but it never disappears. There will always be people and companies who have cash and who have good credit. In tough economic times, you need to assess carefully who still has income and credit and spend time prospecting these people. There will always be people who can buy. Your job is to find them. Do not spend time commiserating with people who can no longer buy. It's depressing and unproductive. Through targeted prospecting, find the ones who can buy and concentrate on them. Even during the Great Depression, Hollywood and entertainment companies saw huge increases in profits. People who invested in bonds, not stocks prospered. There are always businesses and individuals who do well. Find them and sell them.
Get to The Top Of Their Priority List
When selling in tough economic times, remember that people still buy things but you have to get higher on their priority list to sell when money is tight. To do this, concentrate on asking questions to find your customers' wants, needs and fears before you start presenting. One key to success is tough economic times is doing a better job of interviewing clients and then presenting your product as the solution they need. No matter how tough times get, if you needed an operation to save your life, would you spend the money to get it? Would you borrow, sell assets and do whatever was necessary to acquire that service? We all do what we have to in order to get the things we need based on our priority list. During tough times, work harder to be higher on that list and your sales will continue.
Present Savings, Security & Special Benefits
Changes in the economy require changes in the benefits we present to customers. If times get really tough (and no one predicts they will get this bad) suburbanites may grow more food in their gardens. This will require tools, fertilizers, books on gardening, things for preserving food and much more. These new needs will become sales opportunities. Take a look at your product and services and see how you can position yourself as the answer to the fears and needs of your clients. You do this by presenting benefits that will result in security, savings and items that will get your customers through the disasters they fear are coming.
Increase Your Average Closes By One
All salespeople have a number of closes they are comfortable with. Maybe you ask prospects to buy once and then hand them your card and brochure. Maybe you are used to asking three times before you bail. Whatever your average was before the melt down, increase it by one and you will increase your sales enough to weather the storm. If you normally ask three times, try to average four times at every call. You will be amazed at the difference this makes to your closing rate.
Practice Melt Down Objections
You are going to face different objections during the crises. These may include, "we aren't buying anything right now", "our budget has been slashed", "I can't buy until I am sure I won't lose my job" and many others. Make a list of what you will face in your industry and start to practice, drill and rehearse 10 ways to overcome each objection. Being prepared will make you confident and will increase sales. Only salespeople who do not prepare and change will find their closing rate drops as the market changes.
Don't Worry Too Much
Avoid listening to the news. Avoid conversations where friends and relatives are being negative and depressed, It's hard to get a sale after an hour of depressing news or conversation. Do more of what makes money and less of what doesn't. In good times, most of us do things that cost sales but times are good and we don't notice the time and sales we are wasting. Now is the time to go the extra mile to earn more and sell more.
There have been many tough periods affecting our economy. I sold RVs (which no one actually needs) when people were shooting each other in gas stations because of fuel shortages in the 1970's. I sold cars when unemployment was 20% in my market and when interest was so high it was actually against the law to lend money in several states. Our economy has been through hundreds of good times and bad times in this country and we always survive. Some even prosper.
Native Americans have a saying. "Life is like a bear. You eat it or it eats you" You will decide be your actions and attitude if you will move ahead and prosper or cut your income and accept excuses. Much of our world is what we make of it. I hope these techniques will help you look back on this crisis as an opportunity to increase your skills and prosper.
----------------------------------------------------
Carl Davidson discusses how to keep selling and prosper during the current economic slow down. This is sales training you need for today's conditions. It discusses special ways to overcome objections and how to close in tough economic times. Learn more or order our sales training DVDs at http://www.salesandmangementsolutions.com
Rate this Article : Current : 4/5
Date Added : 2008-10-13 Views : 27
Every day, we read about the economic melt down. The worst crisis since the great depression. I am getting calls and emails from salespeople asking what will happen to them. They seem convinced that no one will buy. Worst yet, they fear that when they get sales, they won't be able to finance them. This article discusses some of the things you can do to survive, thrive and prosper in any economic crises.Choose Where You Prospect
When you rely on call-ins or walk-ins for sales leads, you deal with a cross section of humanity. Remember that credit tightens but it never disappears. There will always be people and companies who have cash and who have good credit. In tough economic times, you need to assess carefully who still has income and credit and spend time prospecting these people. There will always be people who can buy. Your job is to find them. Do not spend time commiserating with people who can no longer buy. It's depressing and unproductive. Through targeted prospecting, find the ones who can buy and concentrate on them. Even during the Great Depression, Hollywood and entertainment companies saw huge increases in profits. People who invested in bonds, not stocks prospered. There are always businesses and individuals who do well. Find them and sell them.
Get to The Top Of Their Priority List
When selling in tough economic times, remember that people still buy things but you have to get higher on their priority list to sell when money is tight. To do this, concentrate on asking questions to find your customers' wants, needs and fears before you start presenting. One key to success is tough economic times is doing a better job of interviewing clients and then presenting your product as the solution they need. No matter how tough times get, if you needed an operation to save your life, would you spend the money to get it? Would you borrow, sell assets and do whatever was necessary to acquire that service? We all do what we have to in order to get the things we need based on our priority list. During tough times, work harder to be higher on that list and your sales will continue.
Present Savings, Security & Special Benefits
Changes in the economy require changes in the benefits we present to customers. If times get really tough (and no one predicts they will get this bad) suburbanites may grow more food in their gardens. This will require tools, fertilizers, books on gardening, things for preserving food and much more. These new needs will become sales opportunities. Take a look at your product and services and see how you can position yourself as the answer to the fears and needs of your clients. You do this by presenting benefits that will result in security, savings and items that will get your customers through the disasters they fear are coming.
Increase Your Average Closes By One
All salespeople have a number of closes they are comfortable with. Maybe you ask prospects to buy once and then hand them your card and brochure. Maybe you are used to asking three times before you bail. Whatever your average was before the melt down, increase it by one and you will increase your sales enough to weather the storm. If you normally ask three times, try to average four times at every call. You will be amazed at the difference this makes to your closing rate.
Practice Melt Down Objections
You are going to face different objections during the crises. These may include, "we aren't buying anything right now", "our budget has been slashed", "I can't buy until I am sure I won't lose my job" and many others. Make a list of what you will face in your industry and start to practice, drill and rehearse 10 ways to overcome each objection. Being prepared will make you confident and will increase sales. Only salespeople who do not prepare and change will find their closing rate drops as the market changes.
Don't Worry Too Much
Avoid listening to the news. Avoid conversations where friends and relatives are being negative and depressed, It's hard to get a sale after an hour of depressing news or conversation. Do more of what makes money and less of what doesn't. In good times, most of us do things that cost sales but times are good and we don't notice the time and sales we are wasting. Now is the time to go the extra mile to earn more and sell more.
There have been many tough periods affecting our economy. I sold RVs (which no one actually needs) when people were shooting each other in gas stations because of fuel shortages in the 1970's. I sold cars when unemployment was 20% in my market and when interest was so high it was actually against the law to lend money in several states. Our economy has been through hundreds of good times and bad times in this country and we always survive. Some even prosper.
Native Americans have a saying. "Life is like a bear. You eat it or it eats you" You will decide be your actions and attitude if you will move ahead and prosper or cut your income and accept excuses. Much of our world is what we make of it. I hope these techniques will help you look back on this crisis as an opportunity to increase your skills and prosper.
----------------------------------------------------
Carl Davidson discusses how to keep selling and prosper during the current economic slow down. This is sales training you need for today's conditions. It discusses special ways to overcome objections and how to close in tough economic times. Learn more or order our sales training DVDs at http://www.salesandmangementsolutions.com