3 Ways to Sell Through Tough Economic Times

There's nothing like tough economic times to make salespeople appreciate what they have - customers. Now, more than ever, shoring up relationships and ensuring the depth inside of each account is as strong as possible is a vital part of riding through economic uncertainty. Here are three items to focus on when conducting sales meetings and one-on-one time with your salespeople:

1. Retention – Instruct your salespeople to focus on gaining greater depth inside of their existing accounts. Aggressive competitors become more diligent in pursuing your customers in turbulent times. The fewer the relationships inside of an account your salesperson has… the weaker the account. As a result, some customers will use this opportunity to their advantage to cut ties with you and acquire cheaper products and services from someone else. Be sure that your salespeople reinforce relationships and broaden their reach inside of each account. Protecting your customer base and recurring revenue stream is paramount at this point in time.
   
   
2. Strategic Upsell – Salespeople must think and act strategically. Now is the time to look ahead to where their customers are going. Not all customers are on the verge of bankruptcy. In fact, a number of industries are doing well. The stronger ones actually acquire additional market share due to poor performing competitors going out of business. Encourage your salespeople to look for opportunities to talk with their customers about the future and how they can participate in upcoming projects.



3. Referrals – Now, more than ever, is the time to leverage relationships and gain access to new sales opportunities through referrals. Since it's easier to get in front of chief decision makers through associates than through the front door, your salespeople need to focus on identifying customers who can direct them to others who can benefit from your products or services. That personal entrée into the executive suite can make the difference between getting a deal and getting rejected at the front desk.

I recommend that you make these items a priority at your next sales meeting. Help each salesperson identify their premium accounts and best relationships in order to develop a referral pipeline to increase sales opportunities.

About the Author

Barrett Riddleberger is an internationally recognized leader in the practice of sales assessment, sales training, sales recruitment and retention. His new book, “Blueprint of a Sales Champion,” details how organizations can find, train and retain top performing salespeople even in a highly competitive market. An accomplished lecturer, Riddleberger is also highly in demand as a business development and motivational speaker for organizations seeking to inspire their sales force. For more info go to www.ResolutionSystemsInc.com or www.BlueprintOfASalesChampion.com or call 336.665.0506