BizJournals Portfolio

Value Added

Return on investment is paramount to clients. And for sales professionals, quantifying just how fast clients' money can bring in more business is the key to survival.

Managing Up Managing Up

From closing deals to teaching others how to bring in business, becoming a sales manager takes skill—and timing. Are you ready for the challenge? The eight questions to answer. Read More

Morale Matters Morale Matters

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Test of Trust Test of Trust

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There are significant lessons for salespeople and sales managers provided by last year’s challenges.

For many in sales, the current slowdown is their first major experience with an economic recession. Their opportunities decreased and closing percentages dropped as cautious buyers cut spending and budgets.

Mental toughness and resilience, always important in selling, were more vital than ever in 2009 and remain so in 2010.

Also, professional salespeople have been talking about value for years, but these conditions demand that sellers clearly document value and return on investment.

Efficiency is paramount. Those with shoddy and inefficient approaches and processes had poor results.

Teamwork and collaboration are essential, and those who can successfully integrate these concepts will profit.

Finally, as the economy moves from survival to growth and gaining market share, there will be little room for mediocrity. With that in mind, here are the key takeaways from a rocky year that can help your business become stronger.

1. The need for mental toughness will intensify because buyers will remain cautious and markets are likely to return to growth slowly.

Don’t allow the negative to enter your mind. Keep a personal journal, avoid negative self-talk, stay focused on goals rather than past events, and frequently refresh your thoughts with positives.

Start each day with an appreciation call to a good customer to place your mind in the right place. Recognize competition is keener in a reduced sea of opportunity.

2. Sellers who were able to document value and ROI had far greater success in 2009, and 2010 likely will demand more of the same.

Be prepared with solid case studies, numbers, and specific examples to back up any claims. Initial trials and sample applications are additional ways to increase buyer comfort and lower their perception of risk.

Don’t forget to use customer testimonials and to arrange conversations and tours, when applicable, with current customers.

Documenting value doesn’t mean communicating value. Creating value starts with the initial needs interview and facilitating the buyer’s discovery of the implications of current problems or future gains.

Helping a prospect see problems they didn’t recognize, didn’t see coming, or need to prevent creates value beyond your offering. Remember that the customer’s own data is the most credible, so attempt to use a format or process that enables them to use their information in assessing ROI.

One distributor is gaining business in this market using a “productivity-enhancement” process that documents the value and ROI using the customer’s own information, following an in-depth review of their situation.

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