What do you do when you can't sell your products and services because the economy sucks and people are reportedly not spending? A serious recession changes things for everyone. Budgets are tight, uncertainty prevails and bad news is plentiful. So how do you sell your products when it appears that no one is buying?
The most important thing is to understand how people spend money during periods of recessions:
1) During recessions people spend money less often. This does not mean they do not spend money but that they are more careful how they do spend it.
2) During recessions value is more important than price. The value proposition, not price, is everything now as your buyer makes fewer decisions.
3) A recession is a terrible thing to waste. Understand there will immediately will be less QUALITY competition with many people closing down completely and others just barely staying open, the winners with the right strategies will dominate. Most companies are only focused on expense reduction not revenue production. Henry Ford said it best, "a man who stops advertising to save money is like a man who stops a clock to save time."
4) The company that is able to take the right amount of actions and persist with those actions through time will be the winners. The lowest price will not be the winners here -- right actions persisting over time will be!
5) Money follows attention and the seller that can get the most attention will end up with the most money. Don't stop advertising and calling on clients. Now is the time to increase all the ways in which you gain attention by whatever means possible. Whoever dominates the thinking of the decision maker will be the winner during this recession!
The companies that focus on things likes consistent sales training and sales strategies for expanding will win. This is not a time to counter contraction with action. Any goal or target can be achieved, regardless of the economy, with the right amount of actions executed with persistence. The concepts of competition do not work in this type of environment. You must dominate the thinking of your customers and then overwhelm your market so that you are the only perceived player in the environment. Inspire your people to expand in every way possible because those you sell against will not!
"Any man who stops advancing just because of the economy will find himself almost always experiencing a bad economy!" Grant Cardone
The way to sell products during a recession is ultimately to increase the amount of exposure you have in the market place through every means possible. Increase attention on yourself, your products and your company. The person or company that can dominate the thinking of the customer's mind will be the winner! Dominate, don't compete, attack don't retreat and persist in your actions until you are the only one left standing!