While no one truly knows how the economy will perform this year, the International Monetary Fund (IMF) projects that U.S. gross domestic product will shrink by 0.7 percent in 2009. In this kind of environment, the most successful salespeople will be those who have a roadmap for navigating short-term market volatility en route to reaching long-term goals.
"This is a great time for people to assess the `big picture' about their businesses and lives," says Danita Bye, president of Sales Growth Strategies, a Minneapolis-based consulting firm. "That's why it's important to look at long-term dreams, break down what needs to happen in 2009 to start achieving those dreams, and then begin pursuing it quarter by quarter."
At the front end of a new year, Bye suggests three basic steps to help salespeople improve their prospects for success:
Seek opportunities for improvement. This step involves some self-examination, through which salespeople can decide if investments in personal development or professional education are worthwhile. Additionally, Bye says savvy sellers should take a close look at their overall business strategy, ensuring that it is aligned both with economic conditions and their long-term goals.
Take a fresh look at client's needs. In an economic downcycle, people and priorities can shift on a dime. In some cases, key contacts within a company can change, due to layoffs or reassignments. To keep pace, Bye says sellers need to hone their listening skills, probe for changes in direction and emphasis, and figure out how they can offer a product or service that delivers tangible value. "In this kind of economy, it's wise to remember that clients may be dealing with completely different issues - and needs - than they did a year ago," Bye says.
Re-examine the lead generation strategy. While a book of prospects can be built in a variety of ways, most salespeople have one or two preferred methods. But that approach may not be enough in a sluggish market. This year, Bye suggests sellers take a step back, examine how they develop leads, why they use those approaches, and whether current conditions make them more or less promising in 2009. If the latter is true, she suggests sellers broaden their scope of prospecting tools to include personal networking, online services like Spoke or LinkedIn, and involvement with professional organizations.
"This year, I think many salespeople are going to need to increase their prospecting capabilities to generate the same amount of business," Bye says.
Brett Pyrtle is a writer and communications consultant based in St. Paul.
