Tips and Thoughts for Selling in Today's Economic Climate!

Increase your bid participation rate:

• In existing accounts prospect in other divisions, departments for new opportunities.
• Ensure that you hold client meetings to 'discover/explore' needs that may be met by additional products and services you offer.
• Ensure that you are communicating with your existing customers about existing products as well as new or additional products and services.
• Ensure that you focus on new clients that are in your 'sweet spot' both as a company and your background and expertise.
  

Increase the number of discussions that become firm proposals:

• When finding new opportunities ensure that you take the time to 'discover' buyer needs, reasons that may keep them from achieving those needs, and explore HOW your products and services may help. During this discussion attempt to help buyers see "VALUE" in potential uses of your products and services.
• Ensure that you bring the right internal resources of your company into these 'discovery' meetings to determine requirements of the buyers.
  

Conduct more sophisticated contract negotiation planning:

• As we have discussed in our 'negotiating' workshops, buyers/clients are more comfortable negotiating than we are, since they buy every day. We should prepare our negotiating stands and 'give/gets' in advance of a negotiation.
• Ensure that there has been "VALUE" documented in either a letter(s) written during the 'discovery' phase of an opportunity or more extensive "Value/Cost Justification exercise with your prospect". Value provides us with an understanding that price isn't the only negotiating point. It helps the buyer/client understand that delay in making a decision will cost the organization money.
• If you are a manager working with sales personnel, assist them in planning negotiating encounters or sessions. The McKinsey report indicates that in some industries/environments having a 'deal maker' role.
• Remember, the prospect/client doesn't need to get a specific price in many cases. They need to feel they are getting the best deal.
• Attend a negotiating workshop to help sales personnel and managers in how to prepare for getting the best price.

 Focus Sales Resources:

• Align the type and amount of sales and service resources with the size of the opportunity.
• If your business is high-end consultative sales, using the telephone to gain curiosity and interest with prospects is cost effective. However, consider getting in front of the prospect (face-to-face) when they express 'goals or needs' that you can help with. Being able to articulate & discover potential benefits, building executive-level relationships, bringing new ideas to prospects can be optimized.
• For superior account servicing (post sale), and lead generation activities (gaining the interest and curiosity, and even sharing needs) can be optimized via tele-sales organizations. 

All of the areas above are critical in good times and in downturns. We at the Vision Group work with our clients in developing and 'implementing' best practices that work when times are good, and we are confident these same practices will work today.