At my career in sales I have seen both strong as well as troubled economies. Selling within a strong economy is ceil. Money is flowing and also companies are concerned about growth. Everything changes in a recession along with salespeople must also changes their own sales strategies. I have a few advice for you about economic downturn sales strategies.
Pay attention to 2 words used during a economic depression. The first word is “loss”. In a strong economy, we all want to get ahead. In a downturn, everyone wants to cut his or her deficits. People and companies are inspired to hold on to what they have and survive until conditions enhance. The “fear of loss” is a powerful motivator in addition to must be part of a rep’s sales strategies when marketing in a recession.
The second term is “uncertainty”. We reside in uncertain economic times. There is certainly uncertainty about the Sales Strategy so when it will rebound. “Uncertainty” can be another powerful word that sales staff need to deal with as part of their particular overall sales strategies throughout a recession. Uncertainty paralyzes potential customers and motivates them to bum. So , how do we incorporate “loss” and “uncertainty” into our own recession sales strategies? A few take them one at a time and put these to work.
Your product or service might save your clients money or even make them more productive. They are the benefits and we already know you should be selling benefits. Never market a mop to someone who wants a clean ground. Sell the benefit of having that cleaner… a clean floor. Advantages are positive advantages which is how salespeople present those to their prospects. However , whenever dealing with the “fear associated with loss” as a recession product sales strategy, salespeople must modify how benefits are introduced. There is also a negative side in order to benefits. The negative part is what happens when a potential customer fails to take advantage of a benefit. Both positive and negative edges must be emphasized when coping with the fear of loss. Why don’t explore how this functions when incorporated into economic collapse sales strategies.
Let’s say a salesman can save prospect money. Nicely, the savings don’t start until the prospect agrees at hand over some money to the sales person and at that point, the “fear of loss” enters the actual sales process. The salesman may, and should, calculate a solid ROI (Return On Investment) model for the prospect however the “fear of loss” continues to be strong because the salesperson is just focused on the positive benefit of “savings”. Recession sales strategies should also include the negative aspect of not really taking advantage of the benefits. As it pertains to “the fear of loss”, the chance must also hear… “Stop dropping your money”.