How to Sell in a Down Market

We've been following the story of Jenna Bradely, a sales rep who is having a tough time selling in a tough economy. Today she gets a lesson in how to do this better, even in a down market.

In order to understand how to sell in any market, you have to understand what moves a market. Markets are generally at the mercy of two, very real human emotions - fear and greed. Fear and greed drive markets to unnatural heights and to devastating lows.

Greed can often be the great predictor of financial ruin. You see, most people neither understand, nor want to understand "irrational exuberance." They love the easy promise of riches and prefer to listen only to those who will tell them what they want to hear. Even if none of it makes logical sense.

Think of the those who invested with Bernie Madoff. Does it make logical sense to any one of us, that one man could beat the markets year, after year, after year, after year? Not one down year? Of course it doesn't make sense to us and it's simply not logical. In the world of dynamic, fluid markets, this is an impossible feat. Bernie Madoff would have to be God. He clearly was not.

And, is it really possible that not a single investor in Madoff's funds wondered if something "funny" was going on? Something, possibly illegal? These investors were not dumb people. Most of them we would consider quite smart, highly successful men and women. What could have possibly made them turn stupid or at least a blind eye? Did the really imagine they had found someone who could beat the system. Someone smarter than every super computer and living creature on the planet? I bet they were honored to be apart of this club. I'm sure they felt that those not able to get into Bernie's funds were possibly "less than." I absolutely have compassion for those who lost it all, but it seems impossible not a single investor chose to dig a bit deeper.

Greed has a funny way of starving the brain.

Look at the housing market. Americans were told they couldn't lose - that housing was a stable commodity. So people started selling their old homes, for new and bigger ones. They bought second homes in the mountains that they didn't need. They bought rental property because the more homes you could buy, the more money you would make. Banks made it easy for everyone.

Was there an ounce of logic in any of this? Could houses really appreciate 100% in a three year period and this make logical sense to anyone? Was there a sudden explosion in the population in this country to support all these new home starts? Suddenly were people making more money that they could afford this massive load of debt? Nope. But the promise of easy riches and life on the beach before 50 is a dream that feels so close we can touch it, smell it. "I just need that one big payday," we think. We believe because we so desperately want to believe and because we refuse to logically think it through. We forget that the wizard behind the curtain is another greedy man, just like us.

And when it all comes crashing down, the rush to sell is always too late. When fear takes over, people seem to completely lose their ability to make any decision at all. Fear cripples the mind. It's almost as if the world stops turning on its axis. Wallets are slammed closed, the honest salesman is looked at like a crook and commerce is frozen.

So how do you sell in this environment which is now a fear based economy. You sell by being honest and real. You add words to your presentations that will inspire. You add slides to your power point that show your potential buyer what your company is doing to help the consumer in this economy. You explain what happens when you jump on a speeding train and how much easier it is to get on that train before it accelerates again. How that's always a better value. You go far and above the call in order to impress potential buyers and current customers. You find ways to save them money. Start a website or a blog so your customers and prospect know you. Brand yourself the King of the Hill. But do it with honor. People want to buy at the bottom and sell at the top. This rarely ever happens and we should remind them of this. There's only one God.

And if you are selling a product or service that seems stuck in the mud because credit lending is tight, seek out regional banks in your area that still have money to lend. Find out what they require. If this seems like a daunting task, hire a virtual assistant to track down the lenders and their paperwork requirements. Trust me, we all live in a small circle of what we know. Expand your horizons to those you don't know.

And lastly, learn to look at the markets logically - yourself. Where is this market headed now? Do you know? Do you assume that because it's been up for the last several weeks the economy is now cured of its problems. Ben Bernake said yesterday he expects a recovery by the end of the year. Do you believe it because you want to believe it? Hasn't he been really wrong and stupid in the past? If you know where the market is headed, you can prepare now for how to sell in it. And how would you change how you sell if you knew that tomorrow inflation was about to raise its ugly head? Would you do anything different? Things aren't really much of a mystery if you have all the pieces of the puzzle in front of you. You just have to learn to put them together.

Selling is not simply a job, it's a skill that's continually built upon over time. We are dedicated to helping you navigate and grow during good times and bad. Sales-Negotiation-Training.net

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