STC104: Top three Considerations when selling in a challenging economy.
On this episode of Selling to Corporate ®, Jess discusses the top three considerations when selling in a challenging economy. With companies facing budget constraints and changes in priorities, it's important to have an understanding of the current market dynamics. Noting the importance of evaluating processes and numbers, Jess discusses the importance of staying realistic and focused and how to create a well-defined and consistently followed sales process. 1. Understanding Considerations When Selling in a Challenging Economy (Timestamp: 00:22) - Discusses the challenges in the market and how companies are responding with budget constraints and changes in priorities. - Emphasises the need to understand considerations when selling in a challenging economy. 2. Importance of Having a Good Sales Process (Timestamp: 01:30) - Reassures that having a good sales process is key and there is no need to worry too much. - Highlights the importance of evaluating processes and numbers in the current market. 3. Being a Consultative Salesperson (Timestamp: 05:10) - Emphasises the importance of challenging clients' perceptions and helping them understand the root causes of their problems. - Describes the role of a consultative salesperson in pitching, challenging perceptions, and supporting clients in making important decisions for their business. Please note that the timestamps provided are approximate and may vary depending on the episode's actual length and structure. Throughout the episode, the role of a consultative salesperson is highlighted in challenging clients' perceptions and helping them understand the root causes of their problems, helping them connect the dots between symptoms and underlying issues. The episode also highlights common objections in the current market, such as price objections, and the importance of not backing off when faced with those objections. Jess acknowledges that the audience may not be experts in B2B lead generation or sales but shares the need to understand clients' problems and challenge their perceptions in a consultative manner. Overall, this episode of Selling to Corporate ® provides valuable insights for salespeople navigating a challenging economy and emphasises the importance of a well-executed sales process and effective communication with clients. In this episode I’m sharing; Considerations for selling in a challenging economy 00:01:04 C-Suite ® sales boomed in 2020 & 202100:06:10 Economy changes require businesses to adapt sales 00:10:05 Focus on what truly matters in business 00:11:22 Stay focused on reality, watch for objections 00:14:40 Inconsistent sales process leads to revenue loss 00:18:35 Seek genuine solutions, challenge client perceptions 00:24:43 Experts must identify the clients' actual problems 00:27:30 Challenging perceptions, adding value, not pushy 00:31:56 Sales responsibility is crucial in this economy 00:34:08 Build brands, make money, implement processes and be successful in any economy 00:38:26 Key Quotes: The Importance of Broadening Perspective: "It's really easy to fall into that mindset and it's really easy to do when you're isolated and kind of work in a vacuum where you don't see other people making sales." — Jess Lorimer [00:11:22 → 00:12:46] Sales Process in a Changing Economy: "If you haven't been generating the revenue that you wanted in a relatively boom market, it means that something in your sales process hasn't been working in the way that it should have been working." — Jess Lorimer [00:18:35 → 00:20:04] Sales in the Changing Landscape: "They're not going to buy stuff from people who over promise and under deliver." — Jess Lorimer [00:24:43 → 00:26:07] Consultative Sales: "It's our job as consultative salespeople to help them identify whether they're talking about the right issue or whether they're ignoring something that's potentially bigger and potentially more dangerous." — Jess Lorimer [00:27:30 → 00:28:48] The Importance of Process and Execution: "It is not the market to hope that things will be different if you keep doing the same activity. It's the market to make sure that your process works, that you follow a process and that you execute it because that's what's going to get you results." — Jess Lorimer [00:35:36 → 00:36:55] Key Resources Mentioned in this Episode: Join The C Suite ® Self Study now! If you’re looking to get the best support in selling your services to corporate organisations, not to mention email templates and proposal outlines so that you really can convert at much higher rates and sell your services more successfully then click here now. Take the Selling to Corporate ® offer quiz and find out what the best offer is that you could sell to corporate. Converting Corporates Bundle: If you’re looking to learn the foundational pieces to successfully sell your services to corporate organisations, grab this fabulous self study programme here! You’ll learn how to; Create your 250K corporate sales plan, set your business development strategy for success, understand and successfully generate qualified leads and hear from real hiring managers on their top tips for pitching to organisations! Top 5 Business Development Questions: If you’re looking to convert more business development calls into sales? You need to be asking the right questions and getting the best information to support future work. Download my Top 5 BDQs here and start getting quality information from your prospects. If you've been consuming the content and LOVE the show, please make sure you take five minutes out of your day to leave a review. Click here if you would like to listen to my recent TEDx talk.