Wednesday, November 4, 2009

There is Light At the End of the Tunnel

Have you read all the articles predicting the end of the recession? The front cover of Newsweek announced the recession is over - but the recovery will be tough? Economist do believe the fundamentals of a deep recession are behind us. So what's next?

Everyone is anticipating the winners and losers just like the handicappers at the horse racing track. Which industries will rebound first, which ones are on the verge of failing forever? You could take the crystal ball approach and wish for things to turn for you or you could take steps to get out of the tunnel and back into the light. It is all about the perspective you have - half-full, or half-empty.

Right now your competitors and most businesses are tunnel visioned on today. Cut expenses further, hold off on hiring, perhaps still considering cutting staff to get through the storm with a skeleton crew. Making today's numbers is vital to your survival as a business but if you put all your eggs in "today's" basket, you'll lose tomorrow. Here are some simple reminders to make sure your fourth quarter and 2010 are brighter than they may appear today.

1. Dig Deeper - Review your active customer list from first quarter. What is your action plan to renew, up sell or get referrals from these clients? Have you done a gut check with them to see what's changed since they did business with you in the winter months? Given the current business climate I'll bet a lot has changed...don't wait for another vendor to get in there with fresh ideas.

2. Have a plan - have a plan for all - Develop a written sales plan for your team. Go off site or lock the door and have a meeting (make it interactive and fun not a lecture) and set goals, timelines and an achievable action plan to make your numbers through 2010 with input from your team. Include milestones you can check in on your progress and incentives to reward your team for their efforts. It is most critical to get their buy-in and participation in this process.

3. Tune It Up - Freshen up your sales materials and presentations. If you are using the same template and ideas from three years ago...guess what...you WILL be outsold in this "new economy". Adapt, consolidate. Find out what works for retaining and up selling your best customers and use these best practices to win over new customers or those you haven't engaged in awhile.

4. Get Visable - be known - Get out in the field. Set aggressive benchmarks for your sellers and management to see your top customers and your active target accounts. Nothing beats a face to face meeting with a client to uncover objections, finding out what your competitors, are doing identify new opportunities , and how to complete the sale that may be "stuck". Things are changing too fast for a quick e-mail or phone call "to touch base" to count as a true customer interaction.

5. Go Richer - Go deeper - set a goal to improve the number and level of contacts in your customer's organization. This is preventative insurance against an aggressive competitor, pricing wars and sales turnover. If three or more individuals in your organization are actively engaged with three or more at your customer's you have a much greater chance or retaining and growing that client.

6. Be Ahead of the Game -Budget season - everyone is gulping and getting ready to fire up Excel and engage their advisors on planning for 2010. Get in front of your customers and ask for feedback on what they are expecting and how it will impact your working relationship. Don't wait some companies are already well underway in their planning for next year.

7. Be In Touch - Non-"ask for the sale" contacts. Time and time again companies may do business with a seller but not have "a connection". The theme I hear over and over is "they only call to ask for business or when they have a special offer to sell me". Businesses want value...they want a relationship...they want a partner to help them through what is likely the toughest selling environment they have EVER seen. Birthdays, anniversaries, thank you cards, holiday gifts count. These little touch points let your customer know you care about them not just the order.

8. Be Focused on your "hedgehog" - Cut your losses....too many businesses in an effort to make up sales are expanding their offerings, bundles in a "paintball approach" to winning over clients. If something is unprofitable and not a core business for you - get out. Focus your precious time and resources where you can be #1 or #2 and make every waking moment count towards that. Focus wins every time and the good news is it might be easier than you think as your competition is reeling and distracted trying to make "today". Doing what you are best at doing - and doing it over and over again - is mining your hedgehog.

So if you feel like the darkness is closing in and the light is slipping further away...step away from the daily billing goals, this week's leads, the % you are behind last year and focus on these steps to not only impact today's business by tomorrow's , next month and next year.



Article Source: http://EzineArticles.com/?expert=Dan_Austin

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