Increasing Sales in a Sluggish Economy
Increasing Sales in a Sluggish Economy
Pick up a newspaper. Listen to the news reports. The price of gasoline is still quite high. The stock market is still down. The economy is still sluggish. The Middle East is still unsettled. The mortgage industry is still volatile.
Pack a survival bag and head for the hills
Airlines are increasing fares, charging extra for luggage, and cutting back on services. Automobile manufacturers are closing plants and laying off workers. The price of food is higher. The air is more polluted. Glaciers are melting, endangering various species that live on and below the ice. People who are trying to sell their homes can't find buyers. Buyers looking for homes can't obtain financing.
Civilization will survive
You can worry about the sad state of affairs, or you can say, "So what?". People and companies are still buying goods and services. And, salespeople are still needed to sell those goods and services.
A bigger piece of a smaller pie
True, the market potential may be less today than it was a year or so ago. So, what does that mean for you? You have to be a bit sharper. A bit more organized. A bit more focused. A bit more determined. And, a bit more willing to do whatever is necessary to identify, qualify, and develop selling opportunities. You must be willing to go the extra distance. If you don't, another salesperson will--and he or she will obtain the business.
It's easier to find a new customer than it is to find a new job
So, you can buy-in to the bad news and join the Misery Club. You can complain, make excuses, and wait for things to get better. Or, you can go out and make things better. There are undoubtedly customers who will buy more of what you have to offer... if you will only ask. Some of the customers who have dropped off the radar are willing to buy from you again if you will take the time to contact them. Some of your competitor's customers have become disenchanted with the service they have been receiving and will give you their business if you'll take the time to seek them out.
A glass is only a glass
It doesn't matter if you see the glass of water as "half empty" or "half full" if all you're after is half a glass of water. If you're after a full glass, tear up the Misery Club application and go out and take action.
Silence is Golden... and it can ruin your business
Here today... gone tomorrow. Have you ever had customers drift away in silence? They did less and less business with you and then, without warning, they stopped doing business altogether. They didn't complain. They didn't raise a fuss. They didn't make demands. They didn't do anything--they just stopped buying from you.
Customers have a tipping point
There are customers who, experiencing a problem, become very vocal very quickly--they do make a fuss and they do make demands. And, they let you know exactly what it will take to retain their business. Be grateful for them. At least you know there is a problem and you have an opportunity to fix it. But, there are other customers who become unhappy bit by bit over time. They appear to put up with problems or inconveniences until suddenly they are no longer buying from you. If they do say anything, it's at the very last moment and then, if it's at all possible to hold on to any part of the business, it takes a mammoth effort. It's a fact of life Most companies lose customers over time. And so will you. Accept it. But, you do have some control over how many customers leave and how quickly. Don't wait for customers to complain.
Get your customers to complain!
Part of your job is to find ways to uncover complaints before your customers reach their tipping point. Conduct quarterly performance reviews with your customers. (Your performance--not theirs.) Provide Customer Satisfaction surveys. Make sure your customers know who to contact at your company if they have a problem with YOU.
When you provide your customers with channels through which to voice their concerns and complaints, you obtain valuable feedback for fixing existing problems and heading off future problems. And, your customers are much less likely to drift away in silence.
"Think It Over"-- A Ray of Hope or the Cloud of Despair?
A job well done
The procurement committee said that they were ready to make a decision and granted Dean 90 minutes to make his presentation. He explained the details for each point of his proposal. He addressed each of the committee member's concerns. He answered all of their questions and received a nod of approval after each answer. He asked if there was anything else they needed to see or hear from him, and they replied "no" and commended him on the thoroughness of his presentation.
Here it comes
Dean felt very positive about his presentation. Confidently, he asked for their decision. After some mumbling amongst themselves, they announced that they needed some time to "think it over" and promised to get in touch with Dean within a week or so. What do you think? Did Dean get the sale?
A decision not to make a decision is a decision
When you request an appointment, attempt to close a sale, or ask a prospect or customer to take some action, you are asking for a decision--a commitment to do something or not do something. In short, a "yes" or a "no" and nothing in between those alternatives.
When a prospect decides not to decide, i.e., he gives you a "think-it-over," in whatever form it materializes, it is most often nothing more than a convenient disguise for "no." Prospects rationalize the indecision as a means of "protecting" you--letting you down slowly and not hurting your feelings. More likely, the prospect is protecting himself from having to explain a "no" decision. It's a means for avoiding a potentially uncomfortable situation... for him.
Tell me "yes" or tell me "no"
When asking prospects or customers for a decision, let them know in advance that a "yes" is desirable, but a "no" is OK. That's right; a "no" is OK. When you give prospects permission to say "no" and make it very clear that "no" is OK, they are less inclined to disguise it with some form of "think-it-over."
Sooner or later... you choose
When interacting with prospects and clients, your objective is to uncover the truth, even if it's not something you want to hear. After all, if it's going to be "no"--the prospect isn't going to grant you an appointment, your customer isn't going to buy the latest promotion, or the prospect isn't going to become your next customer--wouldn't you want to know sooner rather than later?
Increasing Sales in a Sluggish Economy - To learn more about this author, visit Andrew Wall's Website.
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You Can't Escape It
Pick up a newspaper. Listen to the news reports. The price of gasoline is still quite high. The stock market is still down. The economy is still sluggish. The Middle East is still unsettled. The mortgage industry is still volatile.
Pack a survival bag and head for the hills
Airlines are increasing fares, charging extra for luggage, and cutting back on services. Automobile manufacturers are closing plants and laying off workers. The price of food is higher. The air is more polluted. Glaciers are melting, endangering various species that live on and below the ice. People who are trying to sell their homes can't find buyers. Buyers looking for homes can't obtain financing.
Civilization will survive
You can worry about the sad state of affairs, or you can say, "So what?". People and companies are still buying goods and services. And, salespeople are still needed to sell those goods and services.
A bigger piece of a smaller pie
True, the market potential may be less today than it was a year or so ago. So, what does that mean for you? You have to be a bit sharper. A bit more organized. A bit more focused. A bit more determined. And, a bit more willing to do whatever is necessary to identify, qualify, and develop selling opportunities. You must be willing to go the extra distance. If you don't, another salesperson will--and he or she will obtain the business.
It's easier to find a new customer than it is to find a new job
So, you can buy-in to the bad news and join the Misery Club. You can complain, make excuses, and wait for things to get better. Or, you can go out and make things better. There are undoubtedly customers who will buy more of what you have to offer... if you will only ask. Some of the customers who have dropped off the radar are willing to buy from you again if you will take the time to contact them. Some of your competitor's customers have become disenchanted with the service they have been receiving and will give you their business if you'll take the time to seek them out.
A glass is only a glass
It doesn't matter if you see the glass of water as "half empty" or "half full" if all you're after is half a glass of water. If you're after a full glass, tear up the Misery Club application and go out and take action.
Silence is Golden... and it can ruin your business
Here today... gone tomorrow. Have you ever had customers drift away in silence? They did less and less business with you and then, without warning, they stopped doing business altogether. They didn't complain. They didn't raise a fuss. They didn't make demands. They didn't do anything--they just stopped buying from you.
Customers have a tipping point
There are customers who, experiencing a problem, become very vocal very quickly--they do make a fuss and they do make demands. And, they let you know exactly what it will take to retain their business. Be grateful for them. At least you know there is a problem and you have an opportunity to fix it. But, there are other customers who become unhappy bit by bit over time. They appear to put up with problems or inconveniences until suddenly they are no longer buying from you. If they do say anything, it's at the very last moment and then, if it's at all possible to hold on to any part of the business, it takes a mammoth effort. It's a fact of life Most companies lose customers over time. And so will you. Accept it. But, you do have some control over how many customers leave and how quickly. Don't wait for customers to complain.
Get your customers to complain!
Part of your job is to find ways to uncover complaints before your customers reach their tipping point. Conduct quarterly performance reviews with your customers. (Your performance--not theirs.) Provide Customer Satisfaction surveys. Make sure your customers know who to contact at your company if they have a problem with YOU.
When you provide your customers with channels through which to voice their concerns and complaints, you obtain valuable feedback for fixing existing problems and heading off future problems. And, your customers are much less likely to drift away in silence.
"Think It Over"-- A Ray of Hope or the Cloud of Despair?
A job well done
The procurement committee said that they were ready to make a decision and granted Dean 90 minutes to make his presentation. He explained the details for each point of his proposal. He addressed each of the committee member's concerns. He answered all of their questions and received a nod of approval after each answer. He asked if there was anything else they needed to see or hear from him, and they replied "no" and commended him on the thoroughness of his presentation.
Here it comes
Dean felt very positive about his presentation. Confidently, he asked for their decision. After some mumbling amongst themselves, they announced that they needed some time to "think it over" and promised to get in touch with Dean within a week or so. What do you think? Did Dean get the sale?
A decision not to make a decision is a decision
When you request an appointment, attempt to close a sale, or ask a prospect or customer to take some action, you are asking for a decision--a commitment to do something or not do something. In short, a "yes" or a "no" and nothing in between those alternatives.
When a prospect decides not to decide, i.e., he gives you a "think-it-over," in whatever form it materializes, it is most often nothing more than a convenient disguise for "no." Prospects rationalize the indecision as a means of "protecting" you--letting you down slowly and not hurting your feelings. More likely, the prospect is protecting himself from having to explain a "no" decision. It's a means for avoiding a potentially uncomfortable situation... for him.
Tell me "yes" or tell me "no"
When asking prospects or customers for a decision, let them know in advance that a "yes" is desirable, but a "no" is OK. That's right; a "no" is OK. When you give prospects permission to say "no" and make it very clear that "no" is OK, they are less inclined to disguise it with some form of "think-it-over."
Sooner or later... you choose
When interacting with prospects and clients, your objective is to uncover the truth, even if it's not something you want to hear. After all, if it's going to be "no"--the prospect isn't going to grant you an appointment, your customer isn't going to buy the latest promotion, or the prospect isn't going to become your next customer--wouldn't you want to know sooner rather than later?
Increasing Sales in a Sluggish Economy - To learn more about this author, visit Andrew Wall's Website.
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David AchesonDavid Acheson is the founder of DCJA Consultancy. DCJA Consultancy is a management consultancy business specialising in B2B sales consultancy. They offer bespoke and packaged sales consultancy including Sales Optimisation Review, Interim Sales Management, Sales & Marketing Review, 1:1 Sales & Management Staff Analysis, Management Training, Solution Sales Training, Creation of New Pay Plan, KPI's, run Customer Feedback Campaigns, assist with Recruitment, Coaching, Appraisals and set up Strategic Marketing Campaigns. David spent his early career in accountancy and then moved into sales in 1982, working in Office Equipment, IT, Advertising, Training, Outsourcing and Consultancy. He has held many Senior Positions in SMBs and Global Organisations including Head of Sales Operations & Head of Business Development. His knowledge, skills and great experience of the Sales Industry has led to David making keynote speeches and running educational sessions to key businesses through organisations including The Chamber of Commerce and Business Link. - Visit David Acheson's Website |
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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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Leanne Hoagland-SmithAre your sales where you want them to be? Will you be one of the few who achieves sales or business success or one of the many who have failed to change? Are you tired of being told you are like everyone else? Then you may find my first book on sales of interest. Be the Red Jacket in the Sea of Gray Suits, The Keys to Unlocking Sales available at Amazon or at http://www.processspecialist.com/red-jacket.htm. This book is a reflection of my no-nonsense approach to improving sales to overall business results. If you are truly committed to making sustainable changes, then I can help you secure a positive return on your investment because I focus on executable solutions not telling you the problems you already know you have. From training to corporate (group) coaching to executive one on one coaching, my approach is to assess, create awareness, build a goal driven action plan and then execute. The bottom line question is "Not do you or your employees know it, but do you or they want to do it?" Please call for a free strategy session at 219.759.5601. - Visit Leanne Hoagland-Smith'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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John BrennanJohn Brennan Ed.D. Dr. Brennan is President of Interpersonal Development, LLC, a training and development firm. Interpersonal Development has provided sales training and coaching to more than 3,000 sales reps from over 100 companies. A native of Australia, Dr. Brennan received his doctorate from the University of Rochester. His dissertation researched the effectiveness of Behavioral Modeling Technology in training people in interpersonal skills. While he has spent most of his career designing or delivering training, he was also a Vice-President of Sales of a training and development franchise with operations in 25 markets. Dr. Brennan has designed and delivered sales training in North America, Asia, Europe, Australia and the Middle East. He has been a guest speaker at numerous national and regional professional conferences. When Microsoft wanted Best Practices articles on sales for their web site, they called Dr. Brennan. The results are at http://office.microsoft.com/en-us/FX011387391033.aspx His firm’s clients have included Volvo, The Prudential, Merrill Lynch, Eastman Kodak, Gannett, Equifax Europe, the Economist Group and countless small businesses. - Visit John Brennan'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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Anne BarrAnne Barr has over 26 years experience in sales and marketing, six years as a franchisee. She has assisted over 367 business owners and purchasers to achieve their goals in career change, transition and exit strategy. She holds the designation of Certified Franchise Executive from the International Franchise Association, Certified Business Intermediary from the International Business Brokers Association and Board Certified Broker from the Texas Association of Business Brokers. Anne is active in professional organizations, networking groups and volunteers for non-profit entities. As owner/operator of four successful businesses, Anne has proven people skills and enjoys helping clients find the right "fit" in business ownership. Visit www.FranchiseOpportunitySpecialist.com for more information about me and my company. - Visit Anne Barr's Website |
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