Thoughtful Thursdays – Selling when the economy is slow
When reps are asked why sales are flat or not meeting expectations, a common response is that the economy is slow. In my experience there are always companies that do well no matter what the economy is doing.
Today’s thought is about selling when the economy is slow.
You may hear responses like this: “Business is slow right now and we are not in a position to look at new suppliers.” or “Call back when the economy picks up.”
Sales potential may indeed be smaller when the economy slows, but it still exists.
Maintaining sales growth during slow periods requires planning and relationship building in advance of the slow down. Positioning yourself as the supplier of choice is key. Having said that, you can also position yourself for growth when the economy is slow.
It can tougher to convince prospects to look at new suppliers during a slow period. Cost reduction often becomes the short term priority and new supplier evaluations are considered an unnecessary additional expense. When you think about it though, there is often no better time to evaluate new products than when they have time on their hands. Your challenge is to talk about longer term benefits that will be realized when business turns around. This will position your prospect for future savings and yourself for future sales growth.
Review all your previous calls and follow up with each opportunity. Identify and add new prospects to your call list every week.
The last thing you want to do when the economy slows down is to reduce your sales activities. Ramp up your activities to maintain your sales expectations.
Be the company that does well when times are tough, not the one complaining about a slow economy.
Good selling,
Richard
Have a question about sales? Contact Sakanashi and Associates Inc. and I will respond.
Please share Thoughtful Thursdays posts with people you feel may find the topic interesting and helpful.
Comments are closed.