Believe it or not, when your customers and prospects are concerned about the economy, you have the potential for even more opportunity. The reason for this is that they are looking for ideas, new products and services to offer, ways to get into new markets — and the list goes on. A true sales professional is positioned to help in those situations. Here are some ideas which can help you to position yourself as an expert, to provide value, and to help customers/prospects reach their goals:
- Ask questions to understand the ''real'' problems and “real” needs. An objection to the comment “The economy is bad right now, so let’s wait and see what happens before we make a decision” is a knee-jerk reaction. Ask problem-and-consequence questions in order to better understand the situation. This is the only way you can uncover problems and identify areas in which you can help. A word of caution: uncovering and developing “explicit” needs takes practice, and less than 10% of all sales professionals master this skill. The reason is simple: it takes a lot of work and practice, and honestly, not everyone wants to put forth the effort required to master the skill.
- Position yourself as an expert in your market. This is probably the easiest approach on the list, but it’s the most time consuming as well. It involves research, participation in leadership roles within industry associations, and experience. If you position yourself as an expert, people are going to seek out, or at least give you the opportunity to present, thoughts and ideas that could be of value. A simple technique to employ is to send your customers and prospects articles describing how a given situation could impact their future. All companies are starving for great ideas and truly value people who go the extra mile to give them some intelligent insight.
- Have a strong value story or tangible ROI scenario. Customers that have economic uncertainty on their minds are going to be more cautious with their resources. The obligatory “order taker” will starve under these circumstances. However, the sales professional that can clearly demonstrate why his or her product or service is a sound, safe, and necessary investment will continue to win and succeed.
Concerns about recession and economic uncertainty are going to face everyone at one point or another in his or her career; the key point is that these times can offer true opportunity. Because order takers and price leaders provide little value, it is truly the time when these folks are at a distinct disadvantage. I personally think they are always at a true disadvantage; however, that is another topic for another time. Take advantage of the opportunity you have, and instead of getting discouraged when a prospect or customer expresses concern about the economy, get excited — it is an opportunity!
About the Author
Henry Pellerin is president and founder of VantaEDGE™ Inc. and co-author of The Strategic Selling Process. VantaEDGE™ Inc. provides customized sales training, consultation, and facilitation services. Henry personally has had more than 17 years of experience in sales, sales management, and business development, which he shares with clients to help them receive the same results he has attained year after year.
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