by Jamie Rider

Created on: January 26, 2009   Last Updated: May 10, 2009

Being good is not good enough in a bad economy. Some people will tell you that gimmicks and special programs will help draw customers to you in bad times. Instead, the first step is making sure that you are executing on the core critical skills of sales prospecting. Both quality and quantity of contacts counts, whether you are the front-line sale person or the harried sales manager. You must answer this question: how can your company be the first pick when times are tight? These are the eight critical and time-proven answers:

1) Value Selling: Too often tech sales people focus on features selling and not value selling. Equip your sales force with either sample cost/benefit analysis for some of your core offerings, or give them the tools to create a custom cost/benefit analysis to potential customers. However, understand that your product may have to show a six month to twelve month ROI instead of the 18-24 month that is acceptable in a stronger economy. Consider modulalization to allow for the shorter ROI window.

2) Analyze the most productive market segments and work to identify what makes those areas so successful for you or your company. Take the lesson learned and work to leverage it across more of your area of responsibility.

3) Referral Selling: There are few leads more valuable in any sales environment that referral leads. Rather than cold-calling to fill your sales pipeline, you must focus your sales team on customer service calls that are structured to generate leads. Have them identify raving fans that will recommend your hardware or services. These decision-makers often have professional or personal contacts who are decision makers in other companies.

4) Refresh Sales Team Selling Skills: People sometimes fall into bad habits when times are good. They should have contact goals, pre-planned open-ended questions to determine customer needs and buying motivations, and training on how to overcome objections. This can help increase your conversion ratio from sale pipeline prospect to satisfied customer.

5) Increase Sales Activities: Take the time to ensure that your sales team is taking the steps needed to generate leads and close sales. Your sales team should dedicate themselves to a 1/3 increase in prospecting activities, else it will be impossible to maintain sales volumes. By pouring more contacts into your sales pipeline funnel, you will increase the flow of business.

6) Ensure that your sales team has empathy for the customer. Because times are tight, be prepared to hear about the customer challenges and the current risk to their business. Now, take that empathy and offer the customer a solution to mitigate their troubles.

7) Look for New Applications for Proven Products: Now may be the time to cross-over a proven product to a new industry. Have you sold mostly to government? Try the healthcare sector if the product can adapt. The new niche may be just the fix for sluggish sales.

8) Find New Applications for Existing Customers: The easiest customer to close is one that already has your product or service. Find new ways to help existing customers with add-ons, new applications, and upgrades to your existing product. If they already enjoy the benefits of your products, more is always an option.

At the end of the day, the most important key to successful down-economy sales is to not accept the economy as an excuse for poor performance. Whether it is through increased prospecting or innovative takes on proven products, push your sales team to accept nothing less than their proven track record of success.

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