Three sales tips for a difficult economy

If there is anything that we should have learnt from past recessions, it is that we need to pay attention to our marketing.

Specifically, we should continue to market our products and services just as we have always done or, better yet, we should market even harder, better and with more commitment than usual.

Why? Well, in short, those businesses that do, will survive the recession. More importantly perhaps, they'll thrive after the recession has receded in our memory and when the economy is strong again.

Recently, in my business activities, I've been involved in a number of discussions that have centred around where resources should be focused during these difficult times.

The whole reason why these meetings have been taking place has arisen from the fact that myself and my colleagues or associates are aware that the economic environment is difficult and that we have a small margin for error.

As a result, the focus has been quite intense and I've seen some of the brightest business people I know turn their attention, skills and experience to come up with some very intelligent answers.

I've reviewed my notes from each of these meetings and have summarised the action points, decisions and recommendations that were made into three simple tips that are the most common points agreed upon as necessary to ensure that success and survival are on the agenda.

Here they are:

1. Utilise your existing client bank. Yes, you've heard this before. Yes, you know that your mentor or one of your coaches or that latest business book you're reading tells you that it is easier, cheaper and better to sell to your existing customers than it is to find new ones.

But have you done it?

Look at the stats:

* 20% of your customers bring in 80% of your profit
* 85% of your profit will be coming from only 4 of your products or services
* More than 50% of your existing clients will be using only one or two of your products and services

It's a difficult economy. People aren't buying as quickly, as often or as freely as they were six months ago. So, use the extra time that you and your sales team now have to contact - and preferably meet with - every single one of your clients; current and previous.

Find out what is going on with them. Get your team to look out for, to focus on, and to find opportunities in, the areas where you can genuinely help your clients during these tough times.

Also, figure out a way to make sure every client you have is aware of every product and service that you offer.

2. For your products or services, devise and offer a more economical choice. If the economy is difficult, it's difficult for everyone so take account of that with your products and services.

Do you offer your clients a choice that takes into account the current economic climate? If not, then figure one out and offer it. Not only are you likely to sell more, but you are also telling your clients that you understand that it is difficult for them too and you're doing your best to respond to it in a positive way.

3. Get networking. Network like crazy. This is not the time to batten down your hatches and disappear from sight.

Look at it this way, many of your clients simply cannot afford to buy right now. But the time will come when that will change and when it does, you are going to want to be at the forefront of people's minds. Be sure you are by being as visible as you possibly can. Make sure you build and maintain awareness amongst your clients and prospective clients. While your competitors are cutting back, make sure yours is the business in your marketplace that is visible and that will be remembered when the dust settles and the economy strengthens.

The fact is that these three things are things that you should do no matter what the state of the economy. But it's imperative that you do these things now while the economy is slow because you and your team can hone your skills and stand a far better chance of surviving now and thriving later.