How to Succeed in a Slow Market
November 24, 2016
Is your market slowing down? Be sure not to get caught up in a “slow down” mindset!
While most salespeople will complain about the market, the successful salespeople will be looking for ways to turn a negative situation into a positive one. The majority of salespeople fail to realize that a market slowing down is actually the perfect opportunity to revise sales strategies and increase sales activity.
Think about it, the slower market does not just create problems for you, your competition is likely struggling as well. Chances are they’re facing the same challenges your sales team is facing, so it’s important to capitalize on this opportunity.
By switching yourself from a “slow down” mindset to a “speed up” one, you are essentially taking the first step towards achieving prosperity in difficult markets.
Consider small changes to your strategy such as making five more sales calls per day, or larger ones like implementing a reactivation campaign. By doing so, you’re going to generate more business for yourself while your competitors are worrying and grumbling about the slow market.
Do not lower your prices in slow markets. If you do, you risk making yourself look desperate and eroding your margin to an unrecoverable rate. ← Click To Tweet
Remember, people pay top dollar for products and services they value and are engaged with. This is exactly why the high-end playoff tickets always sell out for major sport teams. Don’t put your margins at risk by accommodating a slower market.
To build more value during tough times in the market, revise your sales calls to provide more to your customer and use testimonials to demonstrate industry expertise and client success!
You can also consider asking for referrals from current clients who are happy with your services. Just because a market has slowed down does not mean that potential customers no longer exist! The ones who are looking to buy will be more willing to do business with you if you are referred to them by a trusted source.
The trick is to leverage and provide more value while ramping up your current sales activities. Never let exterior obstacles get in the way of your personal success! While others are busy blaming the market, the economy and other factors beyond anyone’s control, you can move ahead by focusing your attention on prosperity and creating success.
What’s one way you’ve turned a negative situation into a positive one in the past?
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