How to Sell in a Down Economy, Pt. 2

When there's plenty of money on the table, it's easy to grab your share. But when times get tough, dollars get scarce, which means it's time to selling, and selling hard. Here are five sure-fire ways to help ensure your sales numbers continue to go up, even when the economy goes down:

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• TACTIC #1: Keep Your Spirits High. Nothing makes selling (or managing sales reps) more difficult than a doom-and-gloom attitude. While you need to know what's going on in the world, don't waste precious enthusiasm dwelling on bad news. "Rather than listening to the radio when you're on the road, use motivational CDs and MP3s fill your mind with inspiring ideas," suggests Omar Periu, a motivational coach who has delivered over 5,000 seminars and trained over two million people.
• TACTIC #2: Focus on Current Customers. It's always more expensive and time-consuming to develop new customers than to sell to existing ones. So rather than prospect for new leads, use multiple points of customer contact, like your call center and product support web site, to create new opportunities within your existing base. "As your pool of potential customers dwindle, you must become more efficient in how you manage your sales process," explains Brad Wilson, general manager of Microsoft's Dynamics CRM division.
• TACTIC #3: Volunteer to Cut Your Costs. Rather than wait for your CFO to descend with the cost-cutting axe, figure out which sales campaigns and marketing expenses are necessary, and which can be back-burnered. Then go to your CFO with a proposed list of cuts, and a solid business case for keeping the programs that matter. "The CFO will be amazed that you're being proactive when everyone else is tree-hugging," says Ken Evans, management consultant at CP Strategy, and former vice president of sales and marketing at Waste Management, a $13 billion a year firm.
• TACTIC #4: Give Your Customers a Better Break. Just like you, your customers are struggling to make ends meet. The last thing you want is to find your contracts on the customer's chopping block. To prevent this, unilaterally offer to renegotiate your current contracts to make it easier for them to remain your customers. "Helping without being asked is the best way to win long-term loyalty," says Evans. "They won't forget it, and you'll be on the top of their buy-from list when times get better."
• TACTIC #5: Network, Network, Network. In addition to being a source of additional revenue, your current customers are your best source of new business, especially in a downturn. Pick up the phone, call your best customers, and ask them to refer you to one or two people in their own business network. Beyond that, every week attend a minimum of one face-to-face networking event (e.g. seminar, conference, meet-and-greet). "You never know who you'll discover and what you'll learn," says Joanne Black, author of the bestseller No More Cold Calling (Business Plus, 2006).