It’s a huge health club with lots of equipment and amenities. It’s in a decent location. Still, even at this relatively inexpensive price, the economy is taking its toll. Guess what they’re charging now?

They’ve now moved to a $20 sign-up fee and are charging $9.99 per month for membership. Imagine that – paying only $120 per year (75 pounds for us) for a gym/health club membership!

Sounds great, doesn’t it?

It’s really not.

The problems here are many. The health club is struggling so they lower their prices. As they cut prices they reduce the amount of income they bring in (or had budgeted to bring in) and before you know it they don’t have enough money to pay all the bills. They get rid of a few trainers and staff members and suddenly there isn’t enough staff on site to serve the customers properly. More customers end up leaving the club because they’re unhappy.

All this health club managed to do was to extend his fate a little while longer. Unless they can find a way to better their customer service experiences without slashing prices they’ll never succeed. They’ve essentially doomed themselves to failure.

So I ask you this – do you really need to cut prices in order to make a sale? Probably not. Choose a reasonable price and remain firm. As your competitors clamor to offer lower prices just remember that they can’t survive on that type of income forever. They’ll either change back or fail and when that happens you’ll be ready and willing to service their lost clients.

Sean

Sales Expert - Marketing Consultant – Motivational Speaker

“Well, the economy is a bit rough right now…”

“My sales seem to have declined but I think the economy will turn around soon…”

“Great! I haven’t really been impacted by the economy…”

I love the last answer and, honestly, it’s the response a true salesperson will give.

The truth? Those who are hurting now probably struggled to get sales before the economy shifted. Those who are successful now were probably successful before.

The difference between these two groups? One knows where to look for new customers, is effective at networking, and makes successful contact with new prospects. The other group is – well – not so skilled.

The point of this post is to remind you that the economy itself really has nothing to do with your success as a salesperson. Your mindset regarding sales and marketing plays a huge role in your ability to meet new people and find new opportunities. Trust me when I say the opportunities are out there. You merely have to hunt them down.

Sean

Sales Expert - Marketing Consultant – Motivational Speaker

There are two things that might happen. He’ll pay the bill or he’ll cancel your contract.

So how do you prevent the latter from happening?

Make sure you turn visiting your customers and prospects in person into your number one priority. If you don’t do it, someone else will – and I guarantee that the person your customer or prospect SEES last is the one he’s going to remember when it comes time to pay the bills.

Taking the time to meet with people face to face will not only help you get over your fears of public interaction but will show your customers that you care enough to make the time to see them. They’ll feel less like numbers impacting your bottom line and will view you more like a partner they can trust.

Visit your clients in person, build your business relationships, and watch your career as a salesperson grow.

Sean

Sales Expert - Marketing Consultant – Motivational Speaker

Today I’d like to present you with five questions you can ask yourself during a recession. The answers should help you to determine what path you should take as you market your products and attempt to make new sales.

• What can I do to help my existing customers? Take a look at your existing customers and determine if there is anything you can do to enhance the value of the packages they’ve already purchased from you. If there is – do it. At the very least you will be strengthening their sense of customer loyalty.

• Can I refer any of my customers or prospects to each other? Again, if you’re willing to help your customers beyond what they’re willing to pay for they are more likely to remain loyal to you. They’re more likely to place additional orders, refer additional business, or simply stick with you even if your price point is a bit higher than they’d like.

• Can I ask any of my existing customers for referrals? It really is OK to ask for referrals, especially if you have clients who love your products and are willing to share their contact information. Look at some of your best clients and ask if they’ve met anyone they think might need your services.

• How many prospects must I speak to before one of them will make a purchase? Now is the time to sit down and make this calculation. Knowing your personal contact:close ratio will help you to plan your marketing strategy and allot the proper amount of time to contacting new potential customers.

• Am I really organized? Do you feel as though you have an eternal to-do list but no time to get things done?? Take a close look at your to-do list and cross off anything that can be construed as either nonproductive or as a task that will not help you to generate revenue. Making new sales should be your main focus.

You are responsible for your bottom line when it comes to sales this year. Don’t let the recession slow you down. Simply change your mindset and you’ll be surprised at the results you are capable of achieving.

Sean

Sales Expert - Marketing Consultant – Motivational Speaker