Sales in tough economic times are tougher to close, but a positive attitude, preparation and presentation still provide payoffs to those seeking to make the deal.
That was the essential message presented by Debra Pearlman of DP Salespro to the monthly entrepreneur”™s breakfast series at the Hudson Valley Center for Innovation in Lake Katrine. And she said, after all the ground work is laid, bring out the new idea.
Knowledge really is power when it comes to making sales and generating business, said Pearlman. She said even in times of economic uncertainty, a proactive approach to sales generates successful outcomes both short term and in developing a continuing relationship with clients. “Ask yourself, What else can I do for my clients?” Pearlman said. “An existing client is much easier to keep than making a new one.”
For that approach to succeed, however, it is necessary not only to understand clients, but the business environs in which they ply their craft. Who are the competitors for your client”™s business and what steps and strategies are they employing? How is the market treating the widgets, for example, that your clients produce? Are there ways to make widgets attractive to new markets? “Don”™t”™ be a salesperson; be a consultant,” Pearlman said.
In times like these, she said, a two track approach to profitability provides long-term stability. She recommended that the entrepreneurs in the audience should focus both on making sales and fostering long-term relationships. If you have a client to whom you have been making sales and see opportunity where they can improve their business with your help, broach the idea at a meeting and emphasize it would take some time to ripen, but that you would work with them to see it through. Broader relationships broaden the potential for business opportunities.Â
Self-knowledge is also important, she said. People seeking to expand their businesses should examine their internal operation, to see where they can be improved to generate and then handle additional business. Â
Presentation is important, as well, particularly projecting confidence that success is not only possible, but expected. She asked the audience to show hands as to who thought they would have a successful year, despite a looming recession. To those who raised their hands she suggested it was a self-fulfilling prophecy. She suggested using the slogan, “I”™ve heard there”™s going to be a recession but I”™ve decided not to participate.”
And finally, she said, economic doldrums may require new methods to allow a business to move forward. She told the story of a Lexus dealership in Southern California where showrooms were dismayingly quiet. “The question in this and other businesses is, What can we do differently to change the outcome?” Pearlman asked.
After a while, the Lexus sales team considered where their generally wealthy would-be clientele were likely to be found and concluded that country club golf courses would house their quarry. So they arranged to bring their line of cars to the country clubs nearby, and offered $150 and a complimentary glass of champagne for anyone who would test drive a vehicle and provide their impressions of its strengths and weaknesses. Sales quadrupled, Pearlman said.
