Selling in the Brave New Economy

Sales techniques that succeed in a strong economy can work against you in a weak one. The reason, says Bruce Wedderburn in the whitepaper "Five Questions Your Clients Are Asking," published by Huthwaite, Inc, is that buyers' motivations are different in growth periods (expansion, corporate growth and hiring) than they are in a downturn (saving money and reducing headcount). Many companies are in survival mode, says Wedderburn, so sales organizations need to evaluate their approach in response to this new reality.

So what's the magic bullet? The answer is not in volume, such as more marketing or more prospecting—that's a strategy for good times. Nor is the answer in proving to your customer that you have a better product than your competitor, because (and here's the rub) your customer isn't buying from anyone. "Successful sellers in this economy are creating demand, not responding to it," says Wedderburn. "They provoke their clients into seeing that their solutions are not discretionary, but essential."

The trick is to be proactive.

• Generate the demand. Ask questions to uncover your customers' most pressing issues. For example, what are the inefficiencies that are having a negative financial impact on their company? Address how your solution is critical to solving the problem.
• Assess your value proposition. How relevant is it to today's senior level buyers? "Effective selling in a recession needs to provoke buyers out of their inertia," says Wedderburn.
• Leverage your marketing department to generate messaging that resonates with buyers, including questions and playbooks that can be used by the sales force.

The Po!nt: Don't just ride out the storm, take advantage of the way the wind is blowing. Arm your sales team with skills that leverage your value proposition in ways that demonstrate how necessary, even essential, your solution is in turbulent times.

Source: Huthwaite, Inc. Download whitepaper here (pdf).

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