Five Sales Management Strategies That Worked in Past Recessions

(I just read this in SellingPower Magazine, and I thought you would find this interesting.)

This is the fifth time the United States has been in a recession since 1970, and with each one, top sales leaders have found ways to grow revenue. So which sales strategies have worked best recession after recession? The Forum Corporation recently dug through reams of research on past recessions with the aim of discovering just that – the most effective selling strategies for the most challenging times. The Forum Corporation senior consultant Jeffrey Baker revealed Forum’s findings in his point-of-view paper, "The Downturn’s Upside – Creating a Recession-Proof Sales Strategy." He says there are five strategies that have worked time and again during recessions. Here’s a look at each one:

Expand relationships. Customer relationships have always been key to successful selling. But it’s no longer enough to have just one or two solid relationships at a client organization. With more and more people joining the buying process, salespeople must deepen relationships with customers and prospects, as well as expand their relationships upward and across client organizations. Don’t sit idly by waiting for news of others who have entered the fray. Seek them out now.

Address customers’ risks. Customers are more concerned than ever with risk – just look at your longer sales cycle for proof. Use those concerns to help you build your case. Skilled salespeople will uncover key risk concerns of customers early and address these risks directly and in a way that builds competitive selling advantage.

Remember that risk concerns are always an opportunity. When prospects ask for a lower price, for instance, you can remind them of the risks of supplier failure and that desperation pricing from a supplier is often an indicator of precarious finances. Or maybe you have a product that can mitigate a customer’s risk in a certain area – now’s the time to focus on it.

Be bold and insightful. Customers are so overwhelmed with all the changes happening in their businesses and industries that they don’t have time to listen to yet another generic sales pitch. To be heard today, you must be able to offer innovative insights on the customer’s business. How can you alleviate a specific pain? What fresh ideas do you have regarding the customer’s company? How have other clients solved a problem with which this prospect is grappling? Anything less than a targeted, intelligent, well- researched idea isn’t going to get you in the door.

For a copy of Forum’s full point-of-view paper, visit www.forum.com.

Management is not rocket science, but there are systems, lists, rules, and ideas that can make your job easier, more productive, and make you more successful!