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Catalytic Management

Bravery is the Key to Selling in a Recession.

 Five Tips on Increasing Revenue

Despite the Doomsayers!

 

Recession, no recession, recession, no recession - confused, worried about the future? Our clients are asking us what they should do in anticipation of and during a recession.  Our answer:  Be brave - stop worrying and take ACTION! When facing a recession too many businesses seek cover, crawl into a ball and wait it out.  Wrong move!  The first piece of advice we give is to think beyond survive and think "thrive", because if you take the right actions you can thrive!  Here are five actions you can take to increase revenue even in a recession:

 

Aggressively market and sell.  Attack each day with renewed energy.  Ignore your tendency to want to pull back on marketing.  This is the time to examine your marketing, jettison those tired old messages and market aggressively. Energize your staff and your customers by marketing with new creativity and confidence.  Look at new marketing avenues and absolutely increase your networking.  Don't let sales people "hunker down" and get lazy because they think no one is buying.  Some one is always buying and it better be from you!

 

Connect with prospects, current customers and past customers.  Up sell to current customers.  Re-ignite relationships with past customers and give them a reason to come back.  They're worried about a recession too and buying from someone they know can be reassuring.  Create new incentives to keep your sales team selling.  Look for new ways to get leads.  Create short term bonuses that will drive your sales team out of the office. Consider paying for "no's".  The more No's they get the more calls they've made and the higher your chances are of landing new business.

 

Train your sales team and transform your processes.  Training can sharpen skills and energize your staff.  Training doesn't have to be a big investment.  Create "buying groups" with other companies- fill the training classes together and save money.  Purchase leading sales books, read them as a team and discuss in your sales meetings.  In addition, transform your processes.  Make it easier for customers to buy from you.  Make it easier to deliver superior service.  Transforming your people and your processes will deliver results.

 

Innovate, invent and identify.  Create new products or services that will demonstrate increased value to your customers both old and new.  Resist the temptation to say, "We'll hold off on development because nobody is buying". When you innovate, tell the world through your website, PR, direct mail, letters from the President.  Your new service or product could be the key to new sales.  And most importantly, identify with your customers.  What do you have that can help them through a recession.  Ask your customers what you can do to help their businesses grow?  Give 'em more not less.  Not only will this bring in revenue now but it will build strong relationships that will reap benefits for years to come.

 

Opportunities abound, seize them.  Be opportunistic and look for new markets, new partners, and new networks - move out of your comfort zone.  Create an Advisory Board to give you ideas and guidance now and for the future.  Look for synergy with other businesses and create opportunities to cross sell.

 

No retreat, no surrender!  Never let 'em see you sweat! It takes courage to lead a company in an economic down turn.  If you want your staff to sell and your customers to buy, you need to model confidence and excitement.  Taking calculated risks and being brave is contagious - you can keep your staff confident and your customers buying by showing them what innovative, motivating leadership really is!

 

Take ACTION throughout the company.  Fight the fear and the belief that "protecting" your business is the best you can do in a recession.  Remember "he who hesitates is lost" and that is never truer than in a recession.  Be bold, be brave and lead the charge for new business.




Suggested Reading

Take ACTION!  Get successful selling & marketing tips from these great books: 

"Short Cycle Selling" by Jim Kasper

"Upselling Techniques That Really Work' 
by Stephen Schiffman

"The New Rules of Marketing & PR"

by David M. Scott

 

"Gorilla Marketing, 4th Edition"

by Jay Levinson

 

 






Catalytic Management
67 Edgehill Road • Stow, MA 01775
Phone: 978-562-5001 • Web: www.catalyticmanagement.com

Catalytic Management specializes in business performance and growth consulting
for businesses in New England and the Northeast.
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