Thursday, May 13, 2010

Thoughtful Thursdays - Resistance isn't futile

Today's thought is about the realization that your sales cycle may be longer than expected or that you may have to talk to more people than you thought to make a sale.


This realization can be very discouraging and often results in the decision to change marketing and sales strategies that may not be best for the long term sustainability of the business.


One of the easiest ways to sell is on price. Note that the operative word is easiest, not most profitable. Although it may feel like it, your target market is not a Borg-like collective of people or businesses driven to assimilate you into their way of thinking and drive your prices down and resistance is not futile.


Persistence and ongoing commitment to your business will help make it happen. Belief in the value that your product and/or service brings to the table combined with the appropriate promotional and sales activities are also essential components. Getting discouraged is not uncommon. It is how you deal with it that will help determine how successful you will be.

Resist the temptation to lower your prices or offer discounts that will only result in one time sales. If you are giving something up, then set a measurable expectation for a level of return in exchange for your investment.

There are times when it will make sense to offer price incentives, but this must be part of your overall business strategy, not a temporary action that goes against your business plan.

If your activities are producing quality opportunities, the targets have been quantified into real dollar potential and the probability of closing has been determined, then it should only be a matter of time before your efforts begin to pay off. Stick with the plan.

Good selling,
Richard

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