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Whitepaper: The Five Questions Your Clients are AskingNext Page >>
The Five Questions Your Clients are AskingMike Tyson once said: “Everyone has a plan until they get punched in the face.”Every company started 2008 with a plan—in many cases a well thought out and carefully crafted blueprint showing progress on a month-by-month basis, complete with year-end targets for revenue, employees, products, clients and profitability. Those business plans were created in Q4 2007— a quarter that started with the continuation of the greatest period of economic expansion and stock market growth in history. It finished in December with increased rumblings about growing sub-prime mortgage issues and some public companies seeing a dip in stock prices. The most-bearish of analysts hinted that the market was “overdue for a correction” in early 2009. Still, business leaders looked forward to a strong 2008. What kinds of questions were company leaders asking during that last quarter of 2007 when those 2008 plans were being put together? Here are some that we heard in our work with sales organisations during that period:
The themes that emerged were expansion, growth and hiring. How can we get a better competitive advantage? How can we differentiate our offerings more effectively from the competition? How can we continue to expand our slice of an ever-growing revenue pie?
Welcome to NowThat optimism drained away quickly when the global economy punched most companies in the face. The beating is likely to continue for at least several quarters. But opportunities exist for those who are prepared to adapt, particularly when it comes to selling. Most experienced salespeople agree that how you sell needs to change to some degree to be successful in a downturn. It is well-known that the skills that make you successful in a strong economy can work against you in a recession. The challenge lies in identifying specifically what should be done differently. Sales leaders who get this wrong will be lucky if they live to fight another day. What, exactly, needs to change? Start by examining the decision-making within your own organisation. The decisions being made and the questions being asked by the leadership in your own company are similar, if not identical, to those of your prospect and client organisations. |
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