Selling In a Tough Economy

Part 1

Over the next three issues, we will address "key" tactics that we need in this tough economy to produce more sales.

Farming, Hunting & Order Taking

In all three methods of sales and in certain situations and economies, efforts need to change. We know that activity generates opportunities and opportunities generate sales. In this tough economy, the variables are time, working smarter and selling more.

Most sales people fall into one of the three methods of sales above. Below we will discuss what the methods are and how to improve your results.

Farming:

This method is designed to develop relationships/sales over a long time and tends to be more "shot gunning" versus laser focused. This method typically produces low results in a tough economy

To improve the end results: .

• Do research beforehand to make sure that this is your ideal prospect -This will save a lot of time & effort
• Ask intelligent questions to better prequalify the prospect
• Establish a follow-up methodology that dovetails into CRM

Hunting:

This method typically requires more upfront time and planning but once the target(s) are identified, this method will produce the best ROI in time & effort if it is done right. The next step is to create opportunities. The final step is to get that 1 on 1 time with that person and be prepared to make your pitch - you only have one shot.

To improve the end results:

• Increase your profiling efforts down to the last detail level
• Have a 3rd party critique your presentation - honestly
• Look successful - dress the part & play the role

Order Taking:

In a good economy, this method is a lay up. In a tough economy, you can get bored waiting for the phone to ring. This method requires more dramatic changes to achieve better results. One advantage is that you should already have a relationship with your customers.

To improve the end results:

• Start or enhance your CRM efforts ASAP
• Become a better listener and ask smarter questions
• Focus on the objective of "selling more" or "bundling" or "companion items"