Finding Sales Success in a Recession

The debate is on whether we actually are in or still approaching a recession. If you have been reading the newspapers and watching the news, then you know that our economy is in a tailspin. The news is leak with each new day revealing another economic woe. It seems that both consumer confidence and spending are down, foreclosures are up, savings are down, unemployment is up and the prices of just about everything are rising. What is there to do if you are a salesperson needing to derive your income from such a mess?

Downward trends are indeed a stressful time, but they do indeed present many opportunities. You might ask a certain real estate agent how his business is; he responds saying it's the worst scenario he has seen in years and does not know what to do. Ask another and she might tell you that she is excited and it's the best market opportunity that she has seen in years. It is indeed a matter of perspective.

For those clients who are financially able, now is an outstanding time to acquire property at a huge discount. She chooses to focus on those clients looking for bargains. The other agent gave up saying "woe is me."

I am not at all suggesting that the current scenario is that simple to overcome in all markets. There is no single answer to all issues, yet there is a superb approach. The keys here are "current scenario" and "downward trends." There will always be hills and valleys in every economic cycle. The tide will certainly turn at some point and a general wellspring of opportunity will spread over the markets. But for now, we must adapt to the current conditions. That's right, adapt.

What can you do now to help ensure your income and peace of mind?

1. Re-train. Become more of an expert in your field. Learn more about other products you have available to you. Become the local expert in your market.
2. Study new markets that provide somewhat consistent opportunities for growth such as food production, pharmaceuticals, hospitals, utilities, laboratories, safety and ergonomics, etc...
3. Make more of an effort to brand yourself. Become a valued expert. Focus.
4. Market yourself: Establish a blog, provide a regular newsletter, write articles, utilize email marketing to better stay in touch with clients.
5. Make yourself more valuable and visible to your clients. Become confident of your value.

Focus on one particularly profitable niche in your industry and marketplace and become the "go-to" person in your marketplace. We all have a product line or service that offers greater value and superior profit margins. Forget being a generalist and become a specialist. Establish your expertise and publicize it well. Get the word out.

I recently utilized this strategy at a local Tier 1 automotive supplier by seizing an opportunity to help them with a unique problem. They were impressed by our response and ability to remedy their situation. I asked about similar areas of their plant and the opportunity to address their issues before they became problems. They liked my pro-active approach and allowed me to proceed. That success soon generated others. In fact, their plant manager sent me an email this past week asking me to meet with him to discuss multiple opportunities for our products and services throughout their plant.

This company is quickly becoming a major account. I have successfully become their "go-to guy." We have demonstrated our capabilities and proven our ability and expertise. Oh, I started working with this account a mere six months ago. I have a goal to develop five more accounts like this one over the coming six months. They are already identified.

There are opportunities; plenty of them, regardless of the economy. Do not give in to the negativity in the news. Focus on your strengths and which clients need your expertise. Select companies that are in a strong financial position to weather this downturn and get busy. Be assertive. Become their "go-to" person and don't look back.

If you enjoyed this post, please bookmark it and subscribe!

...........................
Daniel Sitter
Author

Stumble It!

Comments

[MorganLighter]

The media does us no favors. They always put a negative spin on everything.
There are those who are crying the blues and others who aren't affected by this 'recession'.
This might be off topic, but I think it's a story to remember.

Joe decided to open up his own business, he didn't have a lot of money, but he knew he wanted to be his own boss.
He decided to open a 'hot-dog' stand. He told all his friends, made up some fliers, distributed them and by selling a good product at a fair price, he soon found that he had more business than he could handle.
(I'll shorten the story)
Soon he had 5 hot dog stands, was advertising in the newspaper and on the radio.
By this time, his son had graduated from college. When his son came home he told his dad that there was a recession. His dad just shrugged his shoulders and went off to work. Every day for the next few weeks the son told his father the same old thing.
Joe finally was convinced there was a recession and asked his son what he should do.
His son said that he needed to spend less money on advertising and it would also be a good idea to close down a few of his stands.
(You know where this is going.)
So, Joe stopped advertising, closed down one stand, then two, then three and finally he only had one hot dog stand, no advertising and his business went bust.
He came home and said "Son, I sure am glad you got a college education - and you're right, there is a recession".

Point being is that does one look at a glass and say it's half-full or half-empty.
The five points you posited are right-on. Just don't let anyone tell you that business is bad. If business is that bad then no one would be shopping - imagine that.

[Rowena]

I am contacting you through this contact form as there was no email address available. We would be interested in purchasing advertising on your blog. Please get back to me using the email address I have entered if you would be interested in discussing this further.

[Robyn]

Dan it was great to come to your site and see many solutions suggested. We all need to do more problem solving so we do not get mired by the "woe is me" all around. Yours goes further! Thanks.

[erickia]

Great blog, hope to see more cool news soon

[MrPositioning.com (Stanley Bronstein)]

Excellent points. In order to be successful in today's society, we must constantly re-invent ourselves. Many studies have shown that today's younger generations will have to re-invent themselves SEVERAL times during their careers.

The days of having one job and keeping it our entire lives are just about gone.

Mr. Positioning
Stanley F. Bronstein
Attorney, CPA, Author and Professional Motivational Speaker

[dpfishin]

You are on track,If you want growth in life, you have to stay 1 step ahead.

[Andrew Badera]

Some needs, whether consumer or commercial, remain a priority even in times of recession. Focus on those needs. As a software consultant, I can deliver some absolutely mind-boggling, flashy, zippy whiz-bang systems. What does my current project load consist of however? Maintenance and infrastructure.

Infrastructure -- without it, business doesn't happen. Being able to build it, maintain it, ensures business even in these slower times.