Sales Facts In a Recession

When facing a recession and business owners are forced to re-evaluate their business strategy, marketing is often one of the first areas in an organization faced with cuts. However, TAB business coach, Allan Himmelstein, recently published a blog article discussing the following sales facts in a recession to help ensure your business success:

“Recession Fact #1
Sales people need 20% more prospects to stay even. No one can rest on their laurels, or think that a sale is coming in. Do not assume. Get as many prospects in that pipeline as possible.
Recession Fact #2
Companies that significantly reduce Sales & Marketing in 2009 will be gone in 2010. This is a strong statement, but justified. I would like to add that Sales will not cure all ills. Cash Management, personnel, and making sure you are touching base with all aspects key to your business is a must. Do not accept mediocrity from yourself or your people.
Recession Fact #3
Why do we lose sales? 22% of deals are lost to “no sale.” Don’t chase garbage, select better targets. Use a score card to identify good customers. This is so true. I do not know how many business owners I asked, who their target customer was, and they had no real idea how to identify. The statement that everybody is my potential customer is just not true. Benchmark which customers generate the most and are easiest to have and target new ones just like them.”

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