Some salespeople don’t just survive hard times – they create new “personal best” performance levels during these down cycles. How do they do it?
Sandler has seen eight habits consistently among high performers who fall into this special category. Implement all eight, and they will see you through an industry shakeout, a spike in inflation, a recession, a global pandemic, or any other challenge that may appear on your horizon.
1. Exhaust all the possible non-cash concessions first.
High-achieving salespeople will offer non-cash concessions before thinking to adjust pricing. Can you offer a revised delivery date? Change payment terms? Provide extensions? Expand with a service plan? Think of ways to provide a concession that doesn’t impact price.
2. Engage with ultimate decision-makers.
Mid-level contacts may tell you the budget is frozen. But the C-suite may tell you otherwise. The C-Suite is responsible for making good outcomes happen, even during difficult times. Leaders have the power to unfreeze a budget. High-achieving salespeople know, “Never take a no from someone who couldn’t give you a yes.”
3. Focus on prospecting.
Prospecting never stops being important. During recessionary times, however, it becomes vitally important. You can control the amount of qualified leads making it into your pipeline. The best way to do this? A cookbook (also known as a behavioral plan). This is a unique personal “recipe” that, when followed consistently, delivers the result you are after: financial success.
4. Get creative.
A down market is a great time to evaluate, test, and expand on “out of the box” ideas for reaching new prospects. This doesn’t always have to include paid outreach. Think about your target prospect. Where might you be able to reach them? It is a great time to establish partnerships with other organizations too. Finding cross-promotional partners can drive prospects for each with minimal costs.
There are 4 other habits of high-achieving salespeople in periods of economic uncertainty. Click here to request access to the free guide on thriving no matter what direction the economy may take.
Kevin Hallenbeck is a Principal of Sandler, a national consulting firm specializing in business development strategies, sales and sales management training. Kevin holds both a B.S. and an M.S. in Engineering. He lives with his wife, Diane, and their five children in Bedford, New Hampshire. Kevin is active in church, community and professional organizations.
