“Selling In a Down Economy”

by Steve Chriest

Sooner or later an economic bad moon will rise and we'll find ourselves in a down economy, if not a recession. Selling in a down economy is problematic for most salespeople in almost all industries. What can you do, as a professional salesperson, to prepare for selling during uncertain economic times?

There are at least four things you can prepare to do if you expect to sell in a down economy:

- Stay in front of your customers

- Get to the senior levels in buying organizations

- Share success stories to which your customers can relate

- Manage your time as a guardian of your company's resources.

In tough economic times it's vital that you stay in front of your customers, especially your best customers. One major caveat applies to this advice – Only contact your customers when you have something of value to offer them, such as advice, an unusual perspective, or special knowledge. Never, I repeat, NEVER, contact a customer during tough times and ask, “Do you have any deals for me today?” That inane question will drive customers to the nearest exit!

Unfortunately, middle managers are often a primary layoff target when times get tough. This reality, however, presents an opportunity for you to meet with senior managers who otherwise might be inaccessible to you. Forget about “pitching” special programs and offers to senior executives. Meeting with senior executives gives you an opportunity to listen carefully to them and to learn about and understand their concerns and the real challenges facing their business.

Senior managers are usually eager to hear about what other companies are doing to address tough issues and circumstances. Without divulging anything held by you in confidence, sharing success stories with executives is a powerful way to build your credibility and build your business with company leaders. You might, for example, share the experiences of a vendor who used a particular marketing approach to expand their universe of potential customers.

Finally, while it's always important to effectively manage your time and your territory, it's critical to optimize your selling time and guard your company's resources during an economic slowdown. By pursuing only realistic, profitable sales opportunities, you can help ensure the best use of your time and of company resources that are usually strained during a down economy.

In the interest of fair disclosure I should tell you that it isn't absolutely necessary to prepare yourself for selling in a down economy. Keep in mind, however, the words of a college professor who offered this observation of those salespeople who prefer to “wing it” during good and bad times: “Failure comes as a complete surprise, and is not preceded by a period of worry and depression.”

Copyright © 2006 Selling UpTM. All Rights Reserved.

About the author: Steve Chriest is the founder of Selling UpTM (www.selling-up.com), a sales consulting firm specializing in sales improvement for organizations of all types and sizes in a variety of industries. He is also the author of Selling Up, The Proven System for Reaching and Selling Senior Executives. You can reach Steve at schriest@selling-up.com .