Increasing Sales in a Sluggish Economy
You Can't Escape It
Pick up a newspaper. Listen to the news reports. The price of gasoline is still quite high. The stock market is still down. The economy is still sluggish. The Middle East is still unsettled. The mortgage industry is still volatile.
Pack a survival bag and head for the hills
Airlines are increasing fares, charging extra for luggage, and cutting back on services. Automobile manufacturers are closing plants and laying off workers. The price of food is higher. The air is more polluted. Glaciers are melting, endangering various species that live on and below the ice. People who are trying to sell their homes can't find buyers. Buyers looking for homes can't obtain financing.
Civilization will survive
You can worry about the sad state of affairs, or you can say, "So what?". People and companies are still buying goods and services. And, salespeople are still needed to sell those goods and services.
A bigger piece of a smaller pieTrue, the market potential may be less today than it was a year or so ago. So, what does that mean for you? You have to be a bit sharper. A bit more organized. A bit more focused. A bit more determined. And, a bit more willing to do whatever is necessary to identify, qualify, and develop selling opportunities. You must be willing to go the extra distance. If you don't, another salesperson will--and he or she will obtain the business.
It's easier to find a new customer than it is to find a new jobSo, you can buy-in to the bad news and join the Misery Club. You can complain, make excuses, and wait for things to get better. Or, you can go out and make things better. There are undoubtedly customers who will buy more of what you have to offer... if you will only ask. Some of the customers who have dropped off the radar are willing to buy from you again if you will take the time to contact them. Some of your competitor's customers have become disenchanted with the service they have been receiving and will give you their business if you'll take the time to seek them out.
A glass is only a glassIt doesn't matter if you see the glass of water as "half empty" or "half full" if all you're after is half a glass of water. If you're after a full glass, tear up the Misery Club application and go out and take action.
Silence is Golden... and it can ruin your business
Here today... gone tomorrow.
Have you ever had customers drift away in silence? They did less and less business with you and then, without warning, they stopped doing business altogether. They didn't complain. They didn't raise a fuss. They didn't make demands. They didn't do anything--they just stopped buying from you.
Customers have a tipping pointThere are customers who, experiencing a problem, become very vocal very quickly--they do make a fuss and they do make demands. And, they let you know exactly what it will take to retain their business. Be grateful for them. At least you know there is a problem and you have an opportunity to fix it. But, there are other customers who become unhappy bit by bit over time. They appear to put up with problems or inconveniences until suddenly they are no longer buying from you. If they do say anything, it's at the very last moment and then, if it's at all possible to hold on to any part of the business, it takes a mammoth effort.
It's a fact of life
Most companies lose customers over time. And so will you. Accept it. But, you do have some control over how many customers leave and how quickly. Don't wait for customers to complain.
Get your customers to complain!Part of your job is to find ways to uncover complaints before your customers reach their tipping point. Conduct quarterly performance reviews with your customers. (Your performance--not theirs.) Provide Customer Satisfaction surveys. Make sure your customers know who to contact at your company if they have a problem with YOU.
When you provide your customers with channels through which to voice their concerns and complaints, you obtain valuable feedback for fixing existing problems and heading off future problems. And, your customers are much less likely to drift away in silence.
"Think It Over"-- A Ray of Hope or the Cloud of Despair?
A job well done
The procurement committee said that they were ready to make a decision and granted Dean 90 minutes to make his presentation. He explained the details for each point of his proposal. He addressed each of the committee member's concerns. He answered all of their questions and received a nod of approval after each answer. He asked if there was anything else they needed to see or hear from him, and they replied "no" and commended him on the thoroughness of his presentation.
Here it comes
Dean felt very positive about his presentation. Confidently, he asked for their decision. After some mumbling amongst themselves, they announced that they needed some time to "think it over" and promised to get in touch with Dean within a week or so. What do you think? Did Dean get the sale?
A decision not to make a decision is a decision
When you request an appointment, attempt to close a sale, or ask a prospect or customer to take some action, you are asking for a decision--a commitment to do something or not do something. In short, a "yes" or a "no" and nothing in between those alternatives.
When a prospect decides not to decide, i.e., he gives you a "think-it-over," in whatever form it materializes, it is most often nothing more than a convenient disguise for "no." Prospects rationalize the indecision as a means of "protecting" you--letting you down slowly and not hurting your feelings. More likely, the prospect is protecting himself from having to explain a "no" decision. It's a means for avoiding a potentially uncomfortable situation... for him.
Tell me "yes" or tell me "no"
When asking prospects or customers for a decision, let them know in advance that a "yes" is desirable, but a "no" is OK. That's right; a "no" is OK. When you give prospects permission to say "no" and make it very clear that "no" is OK, they are less inclined to disguise it with some form of "think-it-over."
Sooner or later... you choose
When interacting with prospects and clients, your objective is to uncover the truth, even if it's not something you want to hear. After all, if it's going to be "no"--the prospect isn't going to grant you an appointment, your customer isn't going to buy the latest promotion, or the prospect isn't going to become your next customer--wouldn't you want to know sooner rather than later?
About Andrew Wall
Andrew wall is the owner of the Milton Sandler Training center. Sandler Training Canada recognized Andrew’s business with the Award of Excellence 2007 for Canada. If you are serious about embracing new Behaviors, Attitudes and Techniques to catapult your business to the next level,visit www.wall.sandler.com
