How to Sell and Market in This New Economy

5 Changes You Need To Make In Your Success Model Right Now

by Paul DiModica

Last week, I was working with one my clients and we were laying out the new foundation of how to sell and market technology and services in this new economy. As we sat having lunch he asked me what is the "secret" to building a 10 figure or larger annual business especially now in this crazy economy.

I said to him - It's a new world.  As the recession continues, the entire business market paradigm of buyers has changed . . . permanently. Today, the way buyers invest their money, make their decisions, and determine the amount of time they will take with you (to confirm that you have value) has changed. They are not waiting for you as you hope that the economy will change. In fact, the changes in this economy are so dramatic that:

Prospects are Not Loyal

Customers are Barely Loyal

There is a new business paradigm for companies.

You must adapt and change your business model or you're going to experience a decline in sales success, a decline in your business growth opportunities, and a high tech business that will not have a resale value.

5 Changes You Need To Make In Your Success Model

1. Your Communication Language
   
   As companies reevaluate where and what they spend their money on (now and beyond this recession), now more than ever, you need to adjust your communication on how you describe who you are, what you do and how you can help potential buyers. In the new economy, specialization is IN – generalization is OUT. Your communication must be precise, specific and surgical in its usage to correctly paint the right "visual brochure" in the brain in the buyer. One mistake or one incorrectly stated observation will result in a lost sales opportunity.
    
2. Perception of Value
   
   The word "value" is often used, but more times than not incorrectly described when sales and marketing communication is deployed. In today's new economy, saying you are dedicated to your services or you are customer centric is worthless communication. You need to create three dimensional value in a model that allows both new customers and existing clients to experience your value on a recurring basis. They need help from you to understand why your value is believable and consistent for the long term.
    
3. Competitor Management
   
   How you manage your competitors both direct and indirect becomes more important. In this new economy, it not just what you sell, but who (and what other investments) you sell against. Buyers know that technology can help –- the question is not always what technology the prospect should buy, or who they should buy from but instead should they buy more technology or invest in a new truck, or warehouse or new marketing campaign. Some of the biggest competitors you face in a sales opportunity are not other vendors, but non-IT investments the buyer is contemplating.
    
4. Your Offering's Basic Deliverable Capabilities
   
   I know you love your product or service – but who cares. The real question is do your prospects need it? Fair question. Can you answer it? Prospects in the B2B market are still spending money, but more and more they are questioning the value of what your product or service delivers. Products are a a tool that drives results. Are you selling tools or holiday ornaments that are nice to own?
    
5. Marketing
   
   Are your current market methods working? Are you getting inbound leads? Is your brand so powerful that your prospects just call you without you prompting them? The new economy is forcing many companies to rethink how they market both to existing customers and new prospects.

Marketing is not Revenue

Strategy is not Revenue

P.R. is not Revenue

Branding is not Revenue

Revenue . . . is Revenue

These 5 variables work together as business drivers and act as an interactive process to build a new revenue capture approach that will help increase your sales in this changing economy. Through this approach, you can grow your sales and marketing success by positioning your firm based on the needs and expectations of our new economy buyers. Ignoring the changes, or attaching each one of these business drivers from a silo approach will only reduce your firm's success.

Change is good when you know what is necessary and why. Recession always brings new opportunities for those who are prepared.

 
About The CxO Group, LLC

Rick Erling is CEO and Founder of The CxO Group, LLC. We are a managing partner of the Value Forward Network and have consulting partners in five countries making us one of the world's largest management consulting groups focused on helping companies increase corporate revenue capture.

We work with senior executive teams to integrate sales process, marketing methodology, corporate strategy and financial management into one outbound revenue capture program to increase corporate revenue. We do this by assessing the value your customers see and the value you think you have and then measure the "value variance" gap between the two. Once we have identified the "Value Variance" between the two, we then make appropriate strategic and tactical recommendations on your corporate strategy and marketing programs to close the gaps. When this is completed, we then train your sales team to sell to management more effectively using techniques that are linked to our recommendations.

Top-performing organizations are increasing their companies' revenue, within a constricted economy, by investing in our revenue growth acceleration strategies. For more information, visit: http://www.thecxogroup.com or call Rick Erling directly at (972) 727-6880

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