Print Innovation Asia Issue 10 2021
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Sales Are Down: Do How will you handle this type of situation. Well its a fact that during the coivd pandemic many companies are facing big downturns in their recorded sales. This article tries to help you find a solution to addressing this and keeping everything moving forward Q. Every one of my customers is buying less this year than last year. My sales are down. What can I do? A. You really have a choice here. The first, which, unfortunately, is the solution that most companies and salespeople currently choose is this: Do nothing differently, complain a lot, and hope that things change. Maybe the government will fix everything. The second, which is my recommendation, is this: Move outside of your comfort zones, become a whole lot more strategic, thoughtful, and better at what you do, and do some things differently. Analysis & Data Collection Begin by analyzing your market to identify where your opportunity lies. Unless you have 80 – 90 percent of the total market in your area, you have an opportunity.
Typically, you’ll find that there is a market opportunity within your current customers, as well as an opportunity in prospects who do not currently buy from you. Collect information about both groups so that you can make good decisions about where your time is best invested. Then, prioritize those prospects and customers based on their potential. Next, strategically develop plans to gain more market share from each of these two sources.
Create An Agenda Proactively create the agenda for the conversations between you and your customers. For example, if one of your customers is buying half of their purchases from you and half from someone else, identify specifically what they are buying from your competition, and develop plans to gain that business. Ask yourself, “What would it take for them to buy it from me?” Don’t settle for the simple answer of a “lower price.” Think more deeply, uncover deeper motivations in your customer, and answer that question, product by product, category by category, for everything they are buying from someone else. Here’s a great question to ask, “What has to change for us to do more business here?” Listen and Respond Listen to the customer’s answer and respond appropriately. Put together specific, persuasive offers to each customer and methodically present them to each customer. Show them, specifically, why they should do more business with you. You are not done yet. Understand the fundamental sales equation: Relationships = Opportunities = Projects = Money In other words, the quantity and quality of your relationships equals the quantity and quality of your opportunities,
