STEERING THROUGH CHOPPY SEAS
- There are some people out there who just simply do not get what you are doing in business.
- There are those out there who will show interest in your products, services, and in you, but they will then drop from the radar and not respond to any of your approaches.
- There are those those who insist you drop the price or they will go elsewhere.
- There are those who use you to put pressure on their present supplier and, in reality, have no intention of buying from you.
“If you have been affected in any way by the content of the above four statements……”
Seriously, there are many reasons that people will NOT place business with you, all of which can be overcome with careful application of recognised skills and techniques.
HOWEVER, political developments have added another issue to this list. We are to leave the EU. What comes next? No-one really knows, and because no-one knows, many businesses will cut back on their spending, buying only the ‘necessities’. If you do not sell their ‘necessities’, you are less likely, even unlikely to sell to them.
PROSPECTING AND SECURING NEW OPPORTUNITIES ARE LIKELY TO BECOME MORE DIFFICULT during the coming months.
More difficult, but not impossible. Certainly, we will need to work smarter and have plans which are carefully constructed, timed and focused. We will need contingency plans now more than ever, as we plough on into the political unknown.
To make sales; to make MORE sales in a difficult market requires new strategies, extra skills and techniques, contingencies, but most of all, it needs careful planning.
I have planned for this! I have a coaching programme called ‘2020 Vision for Business’ (what else?!) In this, we will work on sales and marketing plans, strategies and contingencies, taking sales to the next level and ‘scaling-up’ your business; to be the best while others may flounder.
Whether or not you book on the programme, you will need plans and contingencies for growing your business next year. Don’t leave your success to chance.
Plan and prepare now, to grow your business, despite political and market forces.
a good question…..
training a sales team from Samsung recently, I was asked a question which
prompted a lot of thought and soul searching.
I was able to answer it, but was the answer just too easy?
question? Where does an ethical sales
person ‘draw the line’?
answer is simple, and quite straight forward: ‘wherever your conscience lets
you draw the line’. This is obvious,
clear and fits all. However, is it a
example given by the team member was of a potential customer who used their own
‘pressure buying’ techniques that quickly strayed into bullying; the Genghis
Kahn school of negotiation. Apparently,
the buyer would throw his pen onto the table and demand loudly that they accept
his terms or get out. Other tactics of
similar aggressive and intimidating nature were used. Unfortunately, the team member, while an
experienced sales person, was not able to walk out on the negotiations as he
had been instructed to pursue the business and to win it. Would YOU sit there and take that abuse?
He had my sympathy. Most experienced sales people have had situations of similar severe discomfort. While the buyer rants, raves and threatens, you are sat there wrestling with your own conscience and professionalism. What are your options?
are many as every situation is different and requires some ‘thinking-on-your-feet’.
I describe the two extremes and an ideal.
1/ Fight back? This is the most satisfying. Potentially it can gain respect from the
buyer and a mutually beneficial solution could be possible. However, it is extremely risky, as it may escalate the emotions and temper to the
point where errors are made, opportunities are lost, and things are said that
should never be said by true professionals.
Are you reducing your own standards by lowering yourself to their
2/ ‘Take it on the chin’;
in other words, sit there and use silence or passive resistance as your main
tool of defense. This is a very
professional approach that will make the buyers behavior seem very childish and
clearly bullying in comparison. However,
there is also the risk that they will then take your reluctance to engage in a
fight as weakness and assume their argument has been won.
3/ A carefully judged balance between the two,
whereby you respond to aggressive posturing with a firm insistence and repeated
‘no’. Your volume would be higher than
usual but less than theirs; maintain eye-contact as much as possible; your
words would again be professional, but your manner should show you standing
firm but being fair. Consistency,
professionalism, repetition and firmness are needed, with a clear message that
you will not be intimidated.
salesman was strong and held his ground as best he could. Give-in to a bully and they will always bully
you. If you cannot work with them, and
you have the authority, you can walk away, but do not let them win.
it is up to you and your conscience. Sometimes it may be a balance between needs
and conscience. Apply your own positive,
firm approach but do your best not give in to intimidation. When you can,
retain the moral ‘high ground’ and give little away. No-one likes a bully, and it is a great shame
that some believe this is the way to behave in modern society. However, one cannot deny that they still
exist, and we must deal with them while achieving our objectives AND remaining
It has to be said, I am sorry, but it does have to be said.
Brexit has made a difference and will make further differences to business.
Things are changing and there are more changes to come.
But, I am not one of the doom-mongers as I believe it offers us interesting and useful opportunities. I say ‘offers’ as it is up to us whether we take those opportunities or sit back and just hope.
Whatever happens there will be change, and we need to be prepared as best we can. But prepared for what? I believe there are four indisputable facts:
- Brexit will happen!
- Markets will change
- There will be greater focus on domestic markets
- We will find ourselves competing with more UK companies as larger providers seek to replace off-shore business.
This is what happened to Salient in the last 18 months:
- Five larger prospects, (£1M turnover+), were reasonably secure in my sales pipeline.
- As the Brexit vote loomed, happened, and shocked the markets, these five companies retreated, not wishing to ‘spend money when the market was so unpredictable.’
- My cash-flow forecast dropped considerably!
- I initiated my contingency, my Plan B, and targeted the smaller businesses that tend to ‘get on with it’ no matter what the market is doing.
- I had to replace one large opportunity with ten smaller ones.
- It was successful, and I have now progressed to Plan C where I develop the new smaller company market, while attracting new larger opportunities.
But what of the larger companies? What will they do in this Brexit uncertainty?
I believe they will do very much as I did and look to smaller domestic markets to fill the gap in their turnover.
In other words, those who rely on domestic markets for the majority of their turnover will start to find more competition from larger suppliers.
There is another side to this. Those seeking your products or services are less likely to look off-shore for suppliers as these are likely to become more costly. Therefore, they will actively seek domestic suppliers. It could be you, if you are ready! Another point is that if they previously sourced from larger companies, they are likely to spend more than your present customers.
To summarise, this could mean for your business:
- New domestic markets are likely to open up
- Competition will increase for home-grown opportunities.
- The new opportunities have different expectations and spending levels
Are you ready?
Is your sales team and/or your sales process the best it can be?
Your sales effort needs to be at its best; sharp; focussed; forward-thinking.
Don’t miss the boat.
If you fail to address this, others will get there first and will win the lion’s share of the new opportunities.
If you are successful in this, your business growth could be double what you would anticipate for 2018.
If you would like to discuss your experiences of this, please be in touch; call or email Andy
What does summer mean to your business?
What does THIS summer mean to your business?
Are you expecting a rush of new business to come to you? Perhaps other businesses want to invest in you before the markets change, which will happen inevitably.
Or, are you expecting the normal summer lull to be worse than in previous years as, following ‘Brexit’, your customers are being cautious with their investments?
Perhaps you have the type of business which is not seasonal AND is resilient to change in the markets.
In most cases, businesses are expecting some form of downturn or lull in the coming months. I believe, with careful handling, the pace of change is likely to be slow enough that the markets will not suffer greatly and businesses will become cautiously optimistic over the coming months. I think WE MUST be optimistic of a favourable outcome. If we are not, then we should give up now, and that approach is not for us!
So, the old adage ‘Keep Calm and Carry On’ could never be more appropriate.
In every lull there is a need to fill the ‘spare’ time or effort with profitable activities. What better way to fill the time than by training and coaching yourselves or your team to perform significantly better? When markets start to improve again, for whatever reason, you can then hit the ground running with new knowledge and skills that will help your business to outperform all others.
Reinforcing skills and discovering new ideas and strategies can only make a positive difference to your sales growth and build your business during difficult times.
July and August are the ideal times to improve your skills and your performance. There will then be time to apply your new skills and boost your end-of-year figures.
Is that not worth the investment?
Click HERE for a REAL INCENTIVE to book some training.
The most common issue found relating to sales growth:
Having presented many courses on various sales and business-related subjects in a variety of lengths, I have found a few issues that arise that prove common to all my clients. Perhaps the most important of these is the need for the sales individual or team to become proactive as opposed to reactive in their approach. In many cases, sales leads are obtained from responses to marketing effort or repeat business. This is excellent, as it means that the market has seen the value being offered and is keen to purchase. However, maybe due to new competition, or failing customers, this can result in reduced turnover. They have recognized that relying on existing clients or responses to marketing can become risky and unpredictable. Moving to a more proactive approach will help ensure all sales opportunities are found, targeted and won.
What do we mean by ‘proactive’? How can we be MORE proactive?
Identify two key aspects:
The markets you are serving already, and
The markets you would like to serve.
…or, put it another way….
Your existing or past customers, and
Simple strategy for being proactive in sales;
1/ Decide the best balance for you of existing customer and new customer business. You need both! One for ‘bread and butter’ income; to cover the ‘overheads’ and more, and the other for business growth and future strength.
2/ Revisit existing or previous customers on a regular basis. Calling is best; sending a newsletter is the minimum contact. Never miss an opportunity for repeat business or to cross and up-sell. Lack of such contact allows the competition to ‘move-in’.
3/ Choose your new markets and prospects carefully. Make sure they are likely to have the need, the money, and that they are likely to appreciate the value you offer.
4/ ‘Seed’ that market; make sure your business is known to them before you make contact, by;
- identifying likely decision makers and sending them publicity materials, or,
- using the internet, finding a mutual contact and asking for a referral, or
- invest in exposure in their trade press or institution website, or,
- any of the above and more…..
5/ Following number 4 above, any contacting now will be far less cold. If you have gained a referral, they will be happier to take the call. If you haven’t, you can at least refer to your article or letter in the publication or website related to their industry. It doesn’t have to be a ‘cold call’!
This is just one approach you can use to help you find new customers and win new sales.
Being proactive should also include actions to:
– plan where to target new prospects
– regularly monitor and review your carefully chosen KPIs to ensure positive progress and growth
– ensure customer satisfaction and loyalty
– prepare responses to possible criticism
– prepare contingency plans in case the unexpected prevents progress in your chosen direction
- There are many advantages to being more proactive, you have;
- Higher profile with existing customers and new prospects
- Warmer contacts!
- The chance to target and win far more business opportunities
- Greater credibility and respect in the industry or market
- More resilience against competition
- More market knowledge, particularly in future trends.
So, don’t wait for them to come to you. In market downturns, this can be fatal. Be proactive, ‘go-and-get-it’!
As my late Father used to tell me; “The door to success is labelled ‘PUSH’.”