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SalesTalk New strategies for a changing economy Hone your skills & narrow your list of prospects By Kelley Robertson Companies are cutting back, people are tightening their belts and many decisionmakers are holding off on major purchases. But, chances are, your company hasn’t reduced your sales quotas. Selling in a difficult economy requires a different approach than selling during a robust one. Let’s look at what you need to do to compete and keep your sales afloat. Don’t believe everything you hear: The slide in the economy doesn’t mean that your own sales have to sink. Your mindset plays a tremendous role in your success. While it’s difficult to maintain a positive perspective during times like these, it’s essential to keep focused on your main objective. Associate with positive, like-minded people and avoid naysayers like the plague. 1. Tighten your prospecting Too many salespeople cast a wide net when prospecting, with the hope of catching anything that comes their way. This approach isn’t a good use of your time. Instead of cold calling dozens and dozens of businesses, determine your ideal customer and target dealers that most closely match that description. If you don’t know who your ideal customer is, look at your existing customers. Who generates high revenue with high profit margins? What problems do you help them solve? Why do they do business with you? If 20 | <strong>BedTimes</strong> | May 2009 you don’t know, ask. And don’t, under any circumstances, say “…and I will sell to anyone.” This is the equivalent of selling to no one. Sales guru Lee Salz recommends that you limit your prospecting efforts to no more than 25 new customers with an additional 10 on the back butner. Too many salespeople cast a wide net when prospecting, with the hope of catching anything that comes their way. This approach isn’t a good use of your time. 2. Broaden your campaign Jill Konrath, author of Selling to Big Companies, suggests that you use a multitouch campaign after you identify your top prospects. Use a combination of emails, phone calls, targeted letters, trigger events and networking to connect with key decision-makers. This takes planning and time—another reason you can’t effectively prospect more than 25 companies at a time. Once again, this reinforces the importance of narrowing your prospect list instead of using a shotgun approach. 3. Focus your presentations Anytime you meet with a prospect or even existing customer, make sure that your presentation is focused on his problem. Skip the nonsense about how long you’ve been in business, blah, blah, blah. Instead, concentrate on showing your prospect exactly how his business will benefit from selling your mattress brand. If your product will improve margins, tell them by exactly how much. If you have additional services that improve their sales efforts, show your prospect exactly how. Decisionmakers don’t stop making purchases in difficult economic times, but they do expect more. 4. Get closer to your customers Ideally, you already have a great relationship with your existing customers. Now is the time to further strengthen those ties. Aggressively look for ways you can help them solve problems they may be experiencing in their business. This doesn’t necessarily mean selling more of your products. It could mean connecting them with experts in different fields, helping them on a project or recommending other resources. 5. Become more visible Resist the temptation to crawl into a cave and hide until the economy recovers. Your customers may well forget about you. Now is the time to increase your networking activities at appropriate events. For instance, if you’re attending Interzum Cologne May 13-16 in Cologne, Germany, make a point of going out to din- www.sleepproducts.org/bedtimes
ner each night with some industry colleagues you may not know very well. And start making plans now to attend the International Sleep Products Association’s Industry Conference and Exhibition, which will be Nov. 4-6 in Bonita Springs, Fla. (You can find details later this year at www.sleepproducts.org/ industryconference.) 6. Fine-tune your sales skills As a sales trainer, I always come back to this and with good reason. The skills you currently possess got you where you are today but they won’t get you much further. During times of economic uncertainty, it’s essential to refine your questioning skills. How have your customers’ buying processes changed? What new challenges are they facing? What needs must your customers have satisfied now? www.sleepproducts.org/bedtimes In addition to death and taxes, one thing you can count on is that the economy will fluctuate. Right now, it’s more challenging than it was just two years ago. That doesn’t mean you can’t reach your sales targets. Get smarter. Get focused. Get busy. Get ready to succeed in a tough economy. BT © 2009 Kelley Robertson. All rights reserved. Kelley Robertson, author of The Secrets of Power Selling, helps sales professionals and businesses discover new techniques to improve their sales and profits. Receive a free copy of 100 Ways to Increase Your Sales by subscribing to his free newsletter at www.kelleyrobertson.com. Robertson conducts workshops and speaks at sales meetings and conferences. Contact him at 905-633-7750 or kelley@robertsontraininggroup.com. Resist the temptation to crawl into a cave and hide until the economy recovers. …Now is the time to increase your networking activities at appropriate events. <strong>BedTimes</strong> | May 2009 | 21
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