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Don't Just Survive a Tough Economy. Profit From it.
by Theresa Gale
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We hear from many of our clients that their business is being impacted by the struggling economy. Whether real or perceived, your employees are looking to you as leaders to take action and do something to help the organization make it through these tough times. We suggest three actions that will enable your company to 'thrive', not just survive in 2008.
Sales Process
It's rare that an organization or an individual know exactly what they do when they "sell". However, at Transform, we've found that sales professionals are generally successful when given a process. If no formal protocol has been established and documented for staff use, it is time to develop one now. Having a sales process enables management to forecast and track results and will help sales people who are temporarily struggling due to the economy to focus. Additionally, a clearly defined sales process helps new reps to ramp up more quickly and makes the training process easier. When we've assisted clients in defining this process, we often look to the company's star sales professional to help learn the steps they employ. However, each member of the sales staff will very likely contribute with important steps or considerations. Best of luck and p.s. ....don't shy away from asking your employees the question of "what are we selling?" You may be surprised and enlightened by the broad range of responses you hear.
Measuring and Monitoring
In developing a sales process, you and your staff will also have established a definable means to measure and track sales results. Through individual and combined monitoring of this process, you'll discover ways to improve the process resulting in greater sales success. Vigilant monitoring also allows you to make quick shifts that will help you to achieve your business goals and deflect unwanted situations both internal (operations) or external (economic or seasonal) that might occur.
Client Retention
It's more important than ever to retain the clients you have. While some clients may be attracted to the deals thrown their way by competitors, good clients remain loyal to sales professionals who consistently deliver quality products and customer service. Nonetheless, client interactions have everything to do with client retention and it is important to objectively review the experience your clients have. This relates not only to your own interaction, but every interaction your client experiences with all company representatives. Jan Carlzon, president of Scandinavian Airlines, called these interactions "Moments of Truth" in his 1987 best seller of the same title, which championed the concept that client relationships were made or broken during these small but powerful moments. Today, knowing your 'moments of truth' and defining them for your employees is crucial. Every employee should own up to the responsibility of exceeding client's expectations - in every interaction. Do your employees fully understand that this means? If not, take action today by telling them. Your clients - and the well-being of your business depends on it.
Finally...
While good economic times often result in lucrative financial reward with less effort, it is the more challenging times, such as those we are experiencing today, that provide the organization opportunities for clearly defining the sales process, increasing your attention to results and sales behaviors that support those results, and fine tuning client interactions. When employees see leadership taking positive steps to ensure the organization stays on track during tough economic times, their motivation and performance can't help but be positively impacted - who doesn't respect a leader who leads in tough times!
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| On The Road...
Magazine Articles, California Fires, New Research and more
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Wally Olson has been working with RidgeRunner Publishing in Hagerstown, MD to develop its sales process and training sales team. Three years ago, Kate Rader, RidgeRunner's founder, launched Hagerstown Magazine. This month, she and Harby Tran launched Smart Company, 'The Business Voice for Frederick & Washington Counties'. Smart Company magazine is free to business professionals. Subscribe online at www.smartcompanymag.com.
Theresa Gale spoke to the North Carolina Chapter of the Institute of Management Consultants on the topic of "Wake Up and Sell." Consultants from all disciplines were in attendance at the session which included development of the organization's 2008 Marketing Sales Plan. During the meeting Theresa also offered recommendations for overcoming attendee's major sales challenges.
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| Mary Anne Wampler |
Aside from threatening termination (just kidding), what is the one thing you've found that can inspire a sales staff that is feeling beaten up in today's economy?Actually, there are two things: The first is revisiting the concept of "selling". Selling is not about coaxing, cajoling, apologizing, or making quota - it's about faithfully serving the needs of your clients so they can prosper. When you think of "selling" as genuinely attempting to help your customer, it eradicates the many negative feelings that sabotage confidence and the true mission at hand. The second thing to remember is to not be afraid of today's economy. Be fearless, and bold and know that, with time, it will improve. But more importantly, with a good attitude and professional practice - you will end up on top.
Do you have a work related issue? Email Mary Anne. |
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THE POWER
OF FULL ENGAGEMENT
Jim Loehr and
Tony Schwartz
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Loehr and Schwartz make the case that our obsession with time management has robbed us of our energy and diminished our ability to be fully engaged in the moment - and ultimately, the true enjoyment, depth and potential our lives offer. The authors advocate the need for energy management and believe you must be physically energized, emotionally connected, mentally focused and spiritually aligned for the best possible quality of life. All four energy sources are necessary; none is sufficient by itself; and each influences the others.
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