Tips for Selling in a Down Economy
With more and more small businesses emerging as a result of a recession (or depression), new business owners are forced to hone a skill that can literally make or break their business: Selling. What can you do to sharpen up to your selling skills to drive revenues during the leanest months? Consider the tips below:
Sell something people need. Now is a good time to focus on products or services that people need. If you have a variety of services or products available, make it a priority to promote the products or services that your customers need first and foremost.
Keep a full sales funnel. Systematically keep your sales funnel full so it includes prospects at all stages of the selling process. Sometimes it’s easy to get caught up in the thrill of a sale, but just chalk up the sale on your ABC or “Always Be Closing” list and move onto the next. And remember… Always strike while the iron is hot! If you are having an “up” day, keep the momentum going as long as possible.
Be like-able. Remember that customers buy from who they like. Befriend your customers and take a genuine interest in who they are, what they need, and how your products and services will best meet their needs.
Instill trust. At all times, make it a priority to instill trust in your customers and prospects. Golden rule: if your prospects (and customers) do not trust you, they will not buy from you. For example, if you say that you will get back in touch with a customer before the end of the day, then do it! If you promote a 90-day return policy, than adhere to it. No matter what you offer, stand by your offering.
Don’t be obtrusive. Create an easy and unobtrusive way to periodically touch base with customers and prospects. If you have already contacted a prospect a couple times and left an impression, chances are they already know who you are and what you are offering. Just seeing your name pop-up via email is usually a good reminder that you exist, and have something to offer.
Don’t beg for a sale. Desperation is never a pretty sight. No matter how much you need a sale, never beg. If you make it a point to keep your sales funnel full, there will always be other prospects ready to buy from you.
Acknowledge Down-days. Let’s face it, some days you will feel as though you cannot make a sale to save your life. Rather than getting discouraged, acknowledge that not every day will be a good selling day. However, the last thing you want to do is spend time dwelling on it – just take break, a breather, or the rest of the day off from selling if need be. Spend your time doing something productive and non-sales related. Make sure to rest up so you can get back on track tomorrow.
Create incentives. Develop incentives so you have something new and exciting to talk to your customers about — even if there is absolutely nothing new and exciting about your offering! Be creative, and develop an incentive that is hard for your prospects to resist.
Handling objections. Do yourself a favor and learn how to handle objections. Usually when a prospect throws an objection your way, it’s due to insufficient information. Ask questions and try to get to the bottom of why they are objecting to your products and services in the first place. In order to close a sale, you will always need to address and identify a prospects “true” objection.
Integrity. Day in and day-out, operate your business within the utmost in professionalism and integrity. Even if you have an opportunity to badmouth the competition, resist the urge. It takes strength to take the high-road, but your efforts will be recognized and appreciated by your customers.
Overview
Sales is one of the oldest professions in existence and rightfully so – it’s all about how you understand and interact with people. If potential customers like you, there is a higher probability that they will buy from you. Golden rules of sales: Be likable, trustworthy, and treat customers and prospects with respect. Take an interest in who they are, and what they are doing. Make it a priority to understand their needs, and communicate how you can adequately address those needs.
