Editor’s Letter: Selling in a Slowdown

First, I am not an economist. But, like most of you, I can see the signs of economic slowdown in my own city. There are fewer people out in restaurants (when we go, which is less often) and the "for sale" signs in neighbors’ yards are growing roots. To find out how this state of affairs might impact telecom sales, PHONE+ editors spoke with some experts and industry insiders about their expectations in our Special Report on Selling in a Slowdown.

Second, I am not a salesperson. But, I do buy stuff from salespeople and I can see that it could be difficult to convince someone like me to part with her money when she’s concerned about paying existing bills. To find out more about how telecom salespeople can survive (or thrive) in a slowdown, PHONE+ editors also spoke with telecom marketing experts and industry insiders about strategies and products that might work well.

Meanwhile, sales organizations must contend with the stigma of a recession and how it impacts their sales staffs. "Overextended selling cycles, pricing pressures, skeptical buyers with little to no time and depleted levels of optimism amongst sales professionals are symptoms associated with a neutral to negative economy," according to the sales gurus at Peak Performance LLC.

The cause of these symptoms, they say, must be addressed to overcome them. In order to expedite the sales cycle, for example, it’s important to understand why it’s delayed, they say. "You are dealing with prospects who often find themselves between a rock and a hard place. The rock is often the level of dissatisfaction they are experiencing with either their current solution provider/vendor or how they may be handling (or mishandling) an issue internally," they say. "The hard place is that they don’t know you, your capabilities or what you can do to solve their problem."

The treatment for the symptom, then, is NOT to focus on your company’s capabilities but on the inefficiency they are experiencing and find a solution that financially is beneficial.

Addressing price objections is another big one during a downturn. Salespeople have to help customers see the "big picture" as it concerns price, say Peak Performance consultants. Instead of focusing only on the lowering the front-end price, they need to be able to see the total costs of not spending enough money upfront to avoid back-end expenses. The result of not doing this can be higher costs without fixing inefficiencies they hoped to eliminate in the first place.

The experts at Peak Performance also say most salespeople today have never sold in a down economy. "The rejection they experience can be contagious," they note, "so it’s key for management to provide the support and tools necessary for the sales team to combat the problems that inevitably arise in a down economy."

If they are struggling, this support may involve training them how to sell differently using techniques like the ones described above. After all, doing the same thing over and over and expecting a different result is the definition of idiocy or insanity, depending on whom you quote. Either way, stupid or crazy is not going to help you sell in a slowdown.

Khali Henderson
Group Editor