Selling in Difficult Times
Selling in Difficult Times
Check Your Attitude
The first step is a reality check. Is it really a slow or difficult time? Or is it a self-fulfilling prophecy? It is very easy to believe that the economy is going poorly and in doing cause your business to suffer. The most important thing you can do is maintain a positive attitude and focus on the needs of your customers. This is the time to work smarter and focus on the fundamentals of sales and marketing. Remember, many businesses are prospering in today’s’ business climate. Work harder on the fundamentals and you may have to market and sell to more prospects.
Adapt Your Target Market
Change or modify your target market. A friend of mine owns a company that builds custom circuit boards. He recently told me that his business was experiencing a severe slow-down and that he may have to close in six months. Computer manufacturers were not ordering circuit boards as they once did. When we spoke a few days ago his business was booming. He explained that security companies and defense contractors were growing and needed his custom designed circuit boards for their high-tech equipment. His current challenge is to find good people to help him handle the new business.
Ignore the Media
The media needs to attract an audience so they can sell advertising. They do this by targeting people’s emotions, especially fear. Remember this as you absorb the latest news. Keep an objective mind and remember you are observing the media’s version of business. They often have ulterior motives, which may lead to distortions and negative emotions that can derail your sales and marketing efforts.
Reports about the economy can also be misleading. The media usually does not report all the facts. They tend to focus on the negative side and only report positive news if it is a big story. Negative information will sell more papers because it plays on people’s fear. An example of this is retail sales figures. The press will report same store retail sales are down from the previous period, but not mention the fact that there are more stores in the area! Also, job cuts get full attention, but how often do you read about new jobs being added? The media will focus on the loss of jobs because it sells, rather then who is hiring and where jobs are being created.
People Love to Buy
Americans love to shop and buy no matter what the economy is doing. This is true in both business-to-business and consumer marketing and sales. Consumers love to buy that new gadget or item that makes them feel good. Smart businesses’ are always looking to invest in products and services that help improve their business.
Keep an eye on your own reaction to news about the economy or business in general. There are many opportunities available to those who stay positive and focus on sales and marketing fundamentals in turbulent times.
Selling in Difficult Times - To learn more about this author, visit Thomas Young's Website.
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There is no question there has been turbulence in business recently. Just pick up a business paper or listen to business news broadcasts to get the facts. Many companies are struggling and their sales are down considerably. Yet, business must go on regardless so sales and marketing efforts become critical. How does one approach these tasks during difficult times? Here are a few ideas that can help.
Check Your Attitude
The first step is a reality check. Is it really a slow or difficult time? Or is it a self-fulfilling prophecy? It is very easy to believe that the economy is going poorly and in doing cause your business to suffer. The most important thing you can do is maintain a positive attitude and focus on the needs of your customers. This is the time to work smarter and focus on the fundamentals of sales and marketing. Remember, many businesses are prospering in today’s’ business climate. Work harder on the fundamentals and you may have to market and sell to more prospects.
Adapt Your Target Market
Change or modify your target market. A friend of mine owns a company that builds custom circuit boards. He recently told me that his business was experiencing a severe slow-down and that he may have to close in six months. Computer manufacturers were not ordering circuit boards as they once did. When we spoke a few days ago his business was booming. He explained that security companies and defense contractors were growing and needed his custom designed circuit boards for their high-tech equipment. His current challenge is to find good people to help him handle the new business.
Ignore the Media
The media needs to attract an audience so they can sell advertising. They do this by targeting people’s emotions, especially fear. Remember this as you absorb the latest news. Keep an objective mind and remember you are observing the media’s version of business. They often have ulterior motives, which may lead to distortions and negative emotions that can derail your sales and marketing efforts.
Reports about the economy can also be misleading. The media usually does not report all the facts. They tend to focus on the negative side and only report positive news if it is a big story. Negative information will sell more papers because it plays on people’s fear. An example of this is retail sales figures. The press will report same store retail sales are down from the previous period, but not mention the fact that there are more stores in the area! Also, job cuts get full attention, but how often do you read about new jobs being added? The media will focus on the loss of jobs because it sells, rather then who is hiring and where jobs are being created.
People Love to Buy
Americans love to shop and buy no matter what the economy is doing. This is true in both business-to-business and consumer marketing and sales. Consumers love to buy that new gadget or item that makes them feel good. Smart businesses’ are always looking to invest in products and services that help improve their business.
Keep an eye on your own reaction to news about the economy or business in general. There are many opportunities available to those who stay positive and focus on sales and marketing fundamentals in turbulent times.
Selling in Difficult Times - To learn more about this author, visit Thomas Young's Website.
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Marketing in difficult times - I like the article but how about marketing after a national tragedy - like September 11th?
We have fires here, many people have died and many more have lost their homes, the news has had a very depressing effect on the whole country - including me. This is on top of the economic depression.
However, I am in the holiday accommodation business and people are cancelling (in the circumstances I feel I have to refund deposits) and no-one is calling to book.
It could seem insensitive to be sending our newsletters, so do I live with the losses, hope to ride it out and just wait for things to move on, or is there something pro--active I can do.
Thanks
Chris
Australia
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Dave KurlanDave Kurlan is the founder and CEO of Objective Management Group, Inc., the industry leader in sales assessments and sales force evaluations, and the CEO of David Kurlan & Associates, Inc., a consulting firm specializing in sales force development. Dave has been a top rated speaker at Inc. Magazine's Conference on Growing the Company, the Sales & Marketing Management Conference and the Gazelles Sales & Marketing Summit. He has been featured on radio and TV, including World Business Review with General Norman Schwarzkopf, in Inc. Magazine, Selling Power Magazine, Sales & Marketing Management Magazine and Incentive Magazine. He is the author of Mindless Selling and Baseline Selling – How to Become a Sales Superstar by Using What You Already Know about the Game of Baseball. He created and wrote STAR, a proprietary recruiting process for hiring great salespeople, and he writes Understanding the Sales Force, a popular business Blog and is a contributing author to The Death of 20th Century Selling and 101 Great Ways to Improve Your Life, Volume 2. - Visit Dave Kurlan's Website |
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Linda RichardsonLinda Richardson is the Founder and Executive Chairwoman of Richardson, a global sales training and performance improvement company. As a recognized leader in the industry, she has won the coveted Stevie Award for Lifetime Achievement in Sales Excellence and she was identified by Training Industry, Inc. as one of the “Top 20 Most Influential Training Professionals.” Ms. Richardson is credited with the movement to Consultative Selling and is the author of ten books on selling and sales management, including Sales Coaching — Making the Great Leap from Sales Manager to Sales Coach, and Stop Telling, Start Selling. She teaches sales and management at the Wharton Graduate School of the University of Pennsylvania and the Wharton Executive Development Center. Linda is a frequent speaker at industry and client conferences, has been published extensively in industry and training journals, and has been featured in numerous publications, including The Wall Street Journal, Forbes, Nation’s Business, Selling Power, Success, and The Conference Board Magazine. Learn more about Richardson's sales training and performance improvement solutions at http://www.richardson.com web - Visit Linda Richardson's Website |
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George LudwigGeorge Ludwig is a recognized authority on sales strategy and peak performance psychology. An international speaker, trainer, and corporate consultant, he helps clients like Johnson & Johnson, Abbott Laboratories, Northwestern Mutual, CIGNA, and numerous others improve sales force effectiveness and performance. Though it's George's strategies and processes that help corporations increase productivity and performance, it's his tremendous energy and dynamism that spark the transformation. Again and again, clients remark on his amazing ability to unleash human capacity and inspire men and women to break out of their comfort zones. The result is a whole new type of salesperson. His customized presentations teach achievers to make stunning advances in their lives. From helping salespeople realize cherished dreams to helping corporations exponentially accelerate revenue streams, George Ludwig leaves audiences and individuals empowered, emboldened, and clamoring for more. George is the best-selling author of Power Selling: Seven Strategies for Cracking the Sales Code and Wise Moves: 60 Quick Tips to Improve Your Position in Life & Business. - Visit George Ludwig's Website |
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John PowerJohn Power, founder of Biltmore Franchise Consulting, has extensive experience developing and marketing franchises and business opportunities. He has been in and around franchising for over twenty years. From 1980 through 1990 he conceptualized, organized, and developed the American Video Association. He grew AVA to 2,000 national members, before selling the company it 1990. It was later merged into another home video marketing company. From 2000 to 2005 he worked as a contract marketing and human resources consultant to several local and national companies. In 2005 Mr. Power began working as a franchise development consultant on a full-time basis. Since that time he has helped more than three dozen companies initiate and develop their franchising program. He notes that there are many companies interested in developing a franchise program, and who need his specialized assistance. Mr. Power is a “hands-on” franchise consultant. He said, “I am the ‘nuts and bolts’ person who tends to the details for my clients.” Mr. Power holds a B.S. degree with a major in Marketing. See: www.biltmorefranchise.com You may contact Mr. Power at: jpower@biltmorefranchise.co - Visit John Power's Website |
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Jay Kubassek(Jay's Full Bio: EvanCarmichael.com/jaykubassek) In five years, Canadian-born entrepreneur Jay Kubassek went from selling mufflers at a Midas franchise to revolutionizing Internet marketing with the 2004 launch of CarbonCopyPRO, a online marketing education company, now worth over $20 million with customers in over 160 countries.
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Jay's entrepreneurial spirit is irrepressible. He’s the owner of five companies, a professional speaker and trainer, international real estate developer/investor, extreme sport enthusiast and emerging philanthropist. Jay resides in NYC with his wife Jamie, son Milo and dog Cooper. Visit Jay's official website: www.JayKubassek.com - Visit Jay Kubassek's Website |
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