Despite the recent downturn in the U.S., business has not been greatly affected by the financial crisis. In fact, sales have remained fairly consistent over time – albeit slightly diminished compared to previous years. However, what is remarkable is how savvy sales leaders are navigating this challenging period and persisting with their strategies despite reduced client demand.
In 2012, I began studying the most effective sales strategies for companies that were thriving during a recession. My investigation uncovered an undeniable truth: these organizations had one thing in common – they utilized a singular strategy!
1. Get off Facebook and go local.
We’ve made it quite clear that social media marketing is an excellent strategy for promoting your business during a recession.
However, if you haven’t noticed by now, Facebook has changed its algorithm, making it less effective than before. Consequently, those who wish to succeed on this platform will need to take the necessary steps towards regaining visibility and relevance. For example, simply adding more likes won’t necessarily ensure success – rather it’s essential to provide exceptional content!
By focusing exclusively on local networking opportunities, you can maximize sales potential in any community and pinpoint prospects most likely to be interested in what you have to offer. By engaging with them face-to-face or even locating nearby places of interest so they may come across your establishment more easily–perhaps even without actively seeking out information about you–your chances of success should skyrocket!
2. Figure out what’s bringing you business and double down on it.
In the midst of a recession, it is tempting to stray from your core competencies and experiment with new tactics. However, without considering whether these efforts are even compatible with one another – or even if they actually work at all – this might not be an optimal course of action.
With regards to sales, there are certain skills that should not be neglected; such as patience and persistence. After all, no matter how advantageous our current activity may seem in comparison to the market average–some craft still remains essential for success!
So why not turn over a new leaf and focus on what brought you business in the first place? This approach could yield improved results than attempting something completely different.
3. Hold free events to help pay for your products or services.
As a means of generating additional leads, free events such as classes or workshops can prove invaluable. That’s the case for author and entrepreneur AvaDuVernay, founder of Laperla Consulting Inc., who utilized such an approach successfully in order to attain notoriety for her business.
At one point during my early entrepreneurial days, I had amassed a considerable number of clients who were satisfied with their offerings and wanted to remain faithful, but there was no way I could keep up with demand and provide them with the particular product or service they required. The solution? Hosting complimentary events where attendees could sample their wares!
4. Talk up your good qualities when speaking with past clients.
When you have an established client relationship, do not be shy about highlighting the qualities they shared with you. Mention what they found most impressive and how it aligned with their priorities. Allow them to experience firsthand how their expectations can be surpassed!
For example, if a client valued delivery over price in their decision making process, don’t forget to talk about the speed of delivery that goes along with each quote. Or perhaps a client placed emphasis on reliability when determining who to contract with; make sure to highlight your track record as well!
If you discover that one of your previous clients is experiencing economic hardship and in dire need for a new salesperson, don’t forget about all that you accomplished together previously. Explain how you were instrumental in helping establish trust and rapport between them and why this situation may prove beneficial in building new connections within the industry.
5. Let your phone and email speak for you.
Are you a brand new entrepreneur who is constantly fielding calls and emails? Don’t sweat it! Instead, utilize tools like voicemail, email marketing and social media platforms to dispatch your messages effectively.
By employing these methods, you can ensure that all potential leads get the message swiftly. This will help them make informed decisions about buying your product or service, thus expediting their decision-making process.
6. Take a workshop or training to learn something new every month or so.
To remain proficient over time, it is essential to keep one’s knowledge up-to-date. This can be achieved by participating in workshops or trainings that provide you with new techniques and ideas for success.
The workshop approach is ideal if you are seeking to stay ahead of the curve by challenging yourself to acquire new experiences and knowledge. Through learning something new every few weeks, you’ll be able to stay on top of your game while also preventing boredom!
Conclusion
The key to maintaining momentum is ensuring you remain nimble on the sales front. With a well-constructed sales strategy in place, you’ll be able to manage expectations and adapt when challenges arise – all while maintaining a positive outlook and keeping your clients happy!
