Thursday, February 23rd, 2012

To Spend or Not To Spend

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This is the question many salespeople are asking in today’s selling environment. For many, sales have become slower than normal due to many factors outside their control and this results in pressure to reduce spending on prospecting. This is particularly relevant if the salesperson is responsible for their own self-promotion. The sales professional who has developed the expertise to meet any changes in their market, maintains contact with existing, new and past clients will always stay ahead of the competition.

Hope and Luck.

Many salespeople don’t go beyond thinking of the next sale or deal and only have a few ideas of what they want to achieve; they are just operating from day to day with their future sales prospects and income dependant on hope and luck. But the true sales professionals (possibly your competitors) are securing sales and have prospecting and other programs in place that will be delivering them business regardless of market conditions.

Prepare to Commit.

It is essential to continue self-promotion and prospecting not as a one off, but an ongoing, year in year out activity to ensure you stay on course. None of this can be achieved without time and funds being spent. In developing your program you need to decide what time and financial commitments you are prepared to make, as your fortunes can rise or fall based on what you are prepared to commit. Being contacted by a prospect is the key to unlocking the sales opportunity, so it is therefore imperative that prospecting has to be one of the main focuses of your schedule. The salespeople who have a plan that ensures they will continue prospecting and servicing their clients and customers in a consistent manner are the ones who through differing market fluctuations will continue to get results.

Ten Thoughts to Remember.

  • The market is the same for everyone.
  • Always maintain a presence, don’t lose your momentum.
  • Don’t forget your clients and customers and don’t let them forget you.
  • Plan to stay in front; you won’t have to come back from behind.
  • Maintain your standards and promote your brand.
  • Be prepared to capitalise on the upturn, because nothing stays the same.
  • Self- promotion is an investment NOT an expense.
  • Problems are normal.
  • Don’t stagnate, innovate.
  • Decide not to become a market victim.

Maintain Your Advantage.

 Whether the market is bad, disastrous or is just making things difficult, problems and differing situations are normal and should be handled with a confident level of maturity. Your outlook and how you feel during difficult times will show in how you behave, what you say and how you say it. If you have not developed the correct approach to the changing environment your life and income will suffer. Prospecting can take many forms and it is vital to use all the resources available to budget for and set up a regular program that will carry on during all market fluctuations. Poor prospecting keeps salespeople where they are year after year, with no growth in income, a negative attitude, a victim’s outlook and a reluctance to spend money on themselves or their business. The majority of your competitors think like this, therefore it is logical that your commitment to invest in your promotion will automatically give you an advantage in your market.

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