National Sales Center

How to sell in a slow economy.

Unless you live under a rock, you know this economy has slowed to a crawl. Some even call it an “economic crises”. As of today, 10/24/08, predictions are that these conditions could last a few years. It is a global problem and many say it will only get worst before it gets better. I’ve been through a few economic tough times before this one and I can say, without any doubt, you can still succeed in sales. So, here are some sales strategies for a slow economy.

1) Use Sales Strategies That Focus On Benefits and Solutions
Products either solve problems or create new opportunities. Even in a tough economy, people and companies have to solve problems and find new opportunities to do things faster, better and at a lower cost. In fact, this becomes even more important in a slow economy. So, focus your sales strategies on the benefits and solutions you deliver. Remember this sales strategy and use it in any economic climate. It is never about the product. It is always about solutions and benefits. Incorporate “solution selling” in your sales strategies for a poor economy.

2) Sales Strategies That Cost Justify Your Product
If you can save a prospect money, insure your prospect knows exactly how much money they will be saving. If you can make a prospect more productive, educate your prospect on how much more money they will be making thanks to the increased productivity. If you can solve a prospect’s problem, insure your prospect understands the cost savings involved with solving that problem. This is no time to get lazy. This is no time to hope your prospect connects the financial dots. In this economy, you must use sales strategies that are very focused on cost justifications and returns on investments (ROI). Learn more about this technique through sales training.

3) Sales Strategies That Qualify Prospects
Time is money. You can’t afford to spend time with prospects that can’t afford to purchase your product or service. In a slow economy, you must qualify, qualify and qualify some more. Your sales strategies must include a list of questions that insure your prospects have the funds to purchase your product or service. Your time is important. Alter all, you must survive in sales during a bad economy.

4) Use Powerful Sales Skills
This is no time to get lazy. In this economy, you must use first class sales skills and sales strategies if you expect to succeed. Follow the Sales Process and use your sales skills to develop top-notch sales strategies for every sales appointment. The same is true when it comes to your sales prospecting efforts. You must bring your “A Game” and leave nothing on the table. With the right sales strategies, you can get past a slow economy.

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5) Right Attitude
Not every salesperson will make it through these difficult economic times. Some will fail because they never took the time to develop their sales skills and strategies. They can only get by when there is a lot of low hanging fruit. Others will get discouraged and just stop trying. This is no time for armatures. Success will only go to those that stay motivated and use powerful sales strategies and sales techniques.

In the final analysis, the way you sell in a slow economy is the same way you sell in a great economy. You just need to pay more attention to some critical factors and incorporate those factors in all your sales strategies.

Keep Going!

Nick Moreno, Sales Trainer
National Sales Center, Sales Training Company

FOR MORE INFORMATION ON THIS SUBJECT, VISIT MY “SALES TRAINING BLOG”