Articles
Getting ahead
It’s what you don’t do that will make the difference
by John GrahamErratic customer behavior, higher customer expectations, escalating demands
on our time and capabilities, and rapidly changing purchasing patterns continue
to put us to the test. When asked to describe current customer attitudes,
a group of commercial printers reported, “They want everything instantly.”
The same message is heard in every industry and line of business.
This is the demanding environment in which we find ourselves. Under such strenuous
circumstances, what are the success strategies? More than anything else, perhaps
the best answers are to be found in what we don’t do––in
what we avoid––rather than in what we choose to do.
Here are some things not to do.
• Don’t hope for the best. Seeing the cup as half
full instead of half empty is the mantra of business. Without optimism, where
would we be? It’s true. Pessimism is often paralyzing, as we know so well.
No one wants to be around naysayers.
But this is only part of the story. According to psychologist Julie K. Norem,
Ph.D., of Wellesley College, pessimism isn’t all bad. In fact, she maintains
that defensive pessimism can be a strategic tool if used correctly.
While optimists insist that they’ll win the order because of their strong
relationship with their customer, the strategic pessimist keeps asking questions:
Have we covered all the bases? Have we uncovered all relevant customer concerns?
Does too much self-assurance blind? What are we missing?
How does the fine art of doubt help? Don’t assume that you’re going
to get the sale. Keep asking yourself what could go wrong. Look for the weak
points. In other words, be prepared to dig for every deal. Nothing is a shoo-in.
• Don’t wait for the economy to lift you. That’s
the old way. That’s what everyone did 20 years ago. If we just wait
it out, the economy will pick up and so will sales. We’ll get our
fair share. That day has passed. Today, if you wait for the tide to float
your boat, you may find yourself left high and dry.
It’s worth noting that many of those working in the World Trade Center
the morning of 9/11 were saved because they dropped everything and ran for the
stairs as soon as the plane hit the first tower. They didn’t stop to get
a purse, briefcase or shopping bag. Those who waited or went back did not fare
nearly as well.
Operating in a changing and uncertain economic environment is no different. Waiting
can be costly. Taking action is essential.
•
Don’t get distracted by rumors. Slow times breed rumors,
lots of them. “Rumoring” serves a purpose: it’s a
way of putting aside our problems for a little while. It’s like
going to the movies to forget about our troubles. Unfortunately, dwelling
on rumors has a debilitating effect on job performance. It takes up valuable
time, drains our mental energy, and keeps us from putting full effort into
the tasks at hand.
What’s even worse, rumors are almost always doomsday scenarios. Something
bad is going to happen. And when it doesn’t, there’s another rumor
to take its place and to take up our time.
Here’s the point. Most of us don’t have control over the company
we work for, a division, or perhaps even a department. But we do have control
over our own destiny. Those who spend time on rumors may be sending the message
that they are not in charge of themselves.
•
Don’t hunker down. Many business owners and managers cover
their heads and wait for the storm to blow over, hoping they will get lucky.
Maybe they will, and then, again, the chances are they won’t.
Of all times, we should pick up the pace in periods of economic uncertainty,
not slow down. Do more, not less, particularly when it comes to marketing. Companies
as different as IBM and Gillette have a track record for raising their investment
in marketing in slow economic periods. Whether it’s B2B or B2C, the issue’s
the same. Don’t bury your head in the sand. Figure out ways to do more.
• Don’t ignore prospecting. Just the opposite––be
aggressive in carefully identifying those customers who you can best serve.
Oftentimes, salespeople are advised to try to sell more to existing customers
in slow periods. While increasing sales to present customers should always
be an objective, trying to do it in a slow economy doesn’t make sense.
Such a strategy suggests that the company hasn’t been doing a good
job prospecting.
The way to overcome slow sales is with an active prospecting program. Build a
prospect file of those who fit the profile of your most desirable (profitable)
customers. But don’t push, attack or try to twist arms to get new business.
Be in front of prospects regularly, demonstrating that you understand their needs,
are willing to cultivate them, and take follow-through seriously.
Prospecting is an opportunity to show the customer what they can expect after the
sale.
• Don’t go into hiding. Bold gets attention. Stand
out from the crowd. Be alert for ways to gain visibility. Get your name in the
news as often as possible. It’s easier than you might think. It doesn’t
take big stories to make news––just some imagination. Has your company
won an award? Has anyone attended a seminar, convention, or training meeting?
What about presentations to trade groups? Has the company helped a charitable
organization?
All these are possibilities for press releases. Dictronics, Inc., the Needham,
MA-based business equipment and telecommunications dealer sent a press release
to the weekly Foxboro, MA, Reporter, Joe Brown’s hometown newspaper.
It announced that Joe had been recognized by Dictronics for his 25 years as service
manager. It turned out someone saw the story and called to say that he was looking
for one of the products marketed by Dictronics.
While Joe Brown’s story may not rank as hard news, it helped make a valuable
sale, all because the company raised its visibility.
• Don’t run from risk. Now is the time for
daring, even for taking appropriate chances. Just when most printers were
avoiding spending money on presses because business was slow, one commercial
printer purchased the largest press in the company’s 20-year history,
a substantial investment for a small company. Was the owner taking a chance?
No question about it. Yet, once the new equipment was installed, the printer
started producing more work. Overtime also increased, much to the pleasure
of the employees.
The same printer also invested heavily in a computerized estimating system to
meet the growing demand.
• Don’t get miserly. Companies look at expenses
even more closely in tighter times. Getting rid of unnecessary costs makes
good business sense, of course. At the same time, making the wrong cuts
can do irreparable harm.
Staying in even closer touch with customers, actively cultivating prospects,
and reaching out to new markets can make good business sense, particularly when
competitors are backing off and keeping a low profile.
This is Dell Computer’s strategy. While other PC makers have backed off,
Dell added large storage products to its expanding line, along with corporate
services, and the possibility of retail locations.
In an unpredictable economy, some companies behave as if the end of the world
is around the corner. It’s as if they are planning for doom. In reality,
purchasing decisions continue to be made. Instead of climbing, sales remain just
about flat. This means there is still enormous opportunity. And those who are
out in front and who look strong will get the business.
John R. Graham is president of Graham Communications, a marketing services and sales consulting firm. He is the author of The New Magnet Marketing and Break the Rules Selling, writes for a variety of business publications, and speaks on business, marketing and sales issues. Contact him at 40 Oval Road, Quincy, MA 02170; 617-328-0069; jgraham@grahamcomm.com.