Sales Training Blog

The best companies will survive during a down economy and will ultimately thrive when the recession ends precisely because of their efforts made during those tough times. As you’ve already seen, many weaker organizations will not survive.  As one of many examples, compare Best Buy to Circuit City.

In an analogous way, the best sellers are adaptable and find opportunities during a down economy to retain business and strengthen customer relationships. By contrast, poor salespeople make several mistakes and don’t do well during difficult economic times. 

Common Mistakes Made by Salespeople in Difficult Times
• Not spending enough time on prospecting, at a time when prospecting is needed more than ever.
• Getting discouraged, which allows your competition to take business away from the seller’s company.
• Not responding well when customers ask for additional concessions.
• Failing to communicate the value that the seller’s company can provide for a particular customer.
• Missing the opportunity to wow existing customers.
 
For starters, we’ll focus only on the first two mistakes:
 
Now, more than ever, you need to spend time prospecting for new business. In our Prospecting and Business Development Workshop, we cite that successful sellers spend more time than average sellers do at keeping their sales pipeline full. This is always important but notably so when times get tough.  In a down economy, you must spend extra time on prospecting. In addition, a down economy is a great time to be more creative in your prospecting. As one example of the latter point, now is the time to explore for slightly different market segments or geographic regions that may not be experiencing as difficult a time as your existing customer base.
 
Don’t get discouraged.  It is easy to get discouraged when customers are slowing down and reducing the frequency and quantity of their orders.  Today, nearly all salespeople are likely to encounter more “no’s” when asking for an order, but keep in mind that the competition is experiencing the same difficult times.  Here is how one seller that is being coached by STAR has responded to the slower economy:  “I'm going to try to contact XYZ customer again this afternoon - I don't give up easily!”  Nor should you!
 
We'd like to hear from you. Do you agree that more time and creativity needs to be spent on prospecting during a down economy? How can you minimize becoming discouraged in today’s business climate?

Selling in a down economy is tough but presents the need to really “wow” your customers.  After all, if you don’t, the competition has the perfect opportunity to do so.  The entire sales and customer service team should be asking what can be done to exceed the customer’s expectations?  If you can provide the customer some additional service or benefit, at no extra charge, you will strengthen your relationship and set yourself apart.

For example, look at what is happening in a down economy to the airline industry. Many airlines are taking away services (fewer flights), yet are charging customers for services that used to be free, such as luggage and aisle seats.  Yet, not all airlines have resorted to these nickel-and-dime tactics. I recently flew on a Southwest flight, and was pleasantly surprised to see that their service has remained good and they aren’t charging these same fees. The net result: more loyalty from me, a customer, to them.  The same thing applies to your business.

Find more tips on selling and negotiating in a down economy, including the 5 most common mistakes salespeople make in tough times in STAR’s December Newsletter .  Visit STAR’s sales training website to learn more about our Customer Service and Support Workshop (LINK), which teaches how to wow customers and other skills to help you retain and grow your customer base.

- Bill McCormick, President of Sales Training And Results, Inc. (STAR)

A recent issue of Fortune magazine (Oct. 6, 2008) focused on the “…deepest secrets of great selling” and had several valuable articles, one of which was featured on our most recent sales training blog.

Another article in that same issue titled "Shelf Help" listed 8 books that Fortune feels should be in “…everyone’s briefcase”. I think you’ll enjoy skimming their entire list of recommended books, but I thought a couple things were very interesting about the list:

- 2 of the 8 books were on influence skills, which matches STAR’s experience as a sales training provider
- Getting To Yes, by Roger Fisher and William Ury, was another book on the list, and happens to be the book that we recommend the most in our sales and negotiation training workshops

Many of you already know this, but STAR’s original two workshops for sales professionals were Influence Skills and Sales Negotiation Skills, so I was thrilled to see that Fortune magazine cited those same competencies in their list of best books for sales professionals.

The two influence books mentioned by Fortune were the classic one from Dale Carnegie titled How to Win Friends and Influence People, as well as a newer book by Robert Cialdini titled Influence: The Psychology of Persuasion. I have read both books and like them both. After all, a sales professional must be influential to do his or her job well.

I also agree with their recommendation about Getting To Yes, which cover to cover is the best single book that I’ve found in my 19 years as a sales training consultant. Sales professionals must excel at negotiation. Otherwise, they end up conceding too much to customers in their desire to make a deal.

Based on your experience, which books would you recommend for salespeople? Which one is your personal favorite? Let us know what you think!

- Bill McCormick, President of Sales Training And Results, Inc. (STAR)