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Sales in a Down Economy

Let’s face it, competition is fiercer than ever and reduced prices are affecting everyone’s bottom line.  Most companies’ mindset has changed from growth to maintenance mode.  One of the key areas that can help an organization to grow in a down economy is to focus on relationships. 

People buy from people they trust, people trust people they know and people know people they spend time with.  The solution is simple -  you must work harder to get in front of your potential clients in tough times.  Go out of your way to do what your competition is not willing to do.  Here are 7 simple tips on how to strengthen a relationship with a potential client:

  1. Personal Meetings - If you have the opportunity to meet a prospective client in person - take it.  Face to face meetings allow for  trust to develop through personal connection.  Most people like to do business with someone they have seen – “a face to a voice”.
  2. Drop off proposals in person - Make sure that any important sales documents such as proposals or even product or services information aredropped off in person.  Chances are your competition isn’t going the extra mile.
  3. Educate - Many times a great way to get in front of a decision maker is to conduct a non-proposal related educational session for them.  Find out what the organization’s pressing issues are and educate them on a solution.
  4. Communication - When passing along pricing information, make sure the client understands that the door is open for negotiations and that the project size is not final.  If the scope of the project decreases – the price will decrease.  This creates an open line of communication and lowers the chances of them calling your competition if they don’t like what they see.
  5. Action Items - Create some “To Do” action items when leaving a call or meeting with a customer - even if the to do’s are completely unrelated to the end goal.  By creating an action list and completing them in a timely manner, you are building trust with the customer.
  6. Search for ways to help - Maybe your prospective client can benefit with a relationship with one of your existing clients.  Find ways that your networking skills can strengthen the potential relationship.
  7. Focus on the prize - make sure that you find out what the customer wants to accomplish - not with your widget, but as an organization.  If you find out what they want and are able to show them how your services will help them, you will win every time.

For more tips on how to sell in a down economy please contact us.

- Brad McCrory
Account Executive

Tags: marketing 

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