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Ten Tips for Selling in a Down Economy
Written by: Sylvia AllenArticle Overview: Whether we are really in a bad economy or just think we are in a bad economy, companies are cutting their budgets. Often times, marketing budgets are the first to be cut, which can spell doom to people who sell advertising, media and sponsorships. No matter what you sell, the following ten tips can help you overcome the challenges of today's economy.
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Ten Tips for Selling in a Down Economy
“What concerns me is not the way things are but, rather, the way people think things are.” Epictetus … 55-155 AD
Whether we are really in a bad economy or just think we are in a bad economy, companies are cutting their budgets. And, what is the first thing to be cut? Marketing! As salespeople that’s our budget. So how do we get companies to spend their marketing dollars? Pointing out that those companies who keep advertising and sponsorship programs have an easier time maintaining market share and top of mind awareness with customers was probably the first thing you thought about. Here are ten more good ideas that can work for all types of salespeople:
1. Go outside your normal “circle” of contacts. Stretch outside your customer boundaries. If you are a car dealer, look at people who own motorbikes or mopeds as potential prospects for “moving up” to a car. Tap into new markets.
2. Look at recession resistant categories … fuel, utilities, telecommunications, pharmaceuticals and consumer staples. Also, look at the health care field and products targeted to seniors, our most rapidly growing population (in size) and children (who just continue to grow and need food and clothing!)
3. Make five extra calls a day. If Brian Tracy, one of America’s leading authorities on the art of sales, is right, 100 calls gets you 10 appointments gets you one sale. So, with five extra calls a day (100 a month) you have 12 new sales by year end.
4. Ask for referrals from existing happy customers.
5. Offer creative financing. That willingness and ability to work with your customer will differentiate you from the rest.
6. Treat your customers as partners.
7. Write down your daily/weekly/monthly goals and review them regularly. Make adjustment to those goals as necessary and don't let yourself get sidetracked.
8. Be a consultative salesperson, not an order taker. You don't want to just "sell" your customer something, you want to offer them a solution to a problem.
9. Continue contact with previous customers, even if they are currently not working with you. They’ll be back if you have satisfied them before and keeping in contact keeps you “front of mind”.
10. Lastly, don’t get discouraged … the current economy is only temporary.
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Article Tags: boundaries, brian tracy, budgets, car dealer, consumer staples, creative financing, economy companies, epictetus, health care field, leading authorities, market share, mind awareness, order taker, pharmaceuticals, recession, salespeople, salesperson, sponsorship programs, willingness, year end
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About the Author: Sylvia Allen RSS for Sylvia's articles - Visit Sylvia's website  Click here to visit Sylvia's website   Ten Tips for Selling in a Down Economy 12 Myths and Mistakes of Selling Sponsorships How to Survive a Recession Through the Power of Public Relations 12 Steps To Sponsorship Success The Ten Attributes of Successful Women Business Leaders |
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The only three I have in mind right now, but will try to come up with something else.
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- When the bug bite you. A lot of successful entrepreneurs started in their teens or at school. Selling sweets to fellow students or lemonade to firends in the neighbourhood.
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I guess this was from a while back, and it'll test your memory a bit but could you possibly elaborate on Unique Selling Proposition?
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Blog pinging
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- Fast Company is pretty good if you're into technology although it can be very on the edge.
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