Salespeople are Reducing


their Activity Your competition is resting on their laurels. I’ve heard several salespeople say, “Why go out and sell if we don’t have any product?” Tis statement is reflective of a seller that is waiting around. Sellers are reducing their activity because there is too much demand. Tis creates a window of opportunity to go aſter new customers. Tink about it. If your competition is making fewer calls, you have an opportunity to increase your coverage. Also, during moments of peak demand, customers are more open to meeting with you because they, too, are experiencing the challenges of the current environment.


Now is the Time to


Make Your Margin It’s basic economics; as supply decreases and demand remains strong, the price should go up. Never discount during times of peak demand. It’s tempting to offer customers a discount or a delayed price increase, but that is a mistake. Raise your prices to ensure you are hitting your margins. Chances are that your cost of doing business and your materials costs are also rising alongside your product prices. It’s important to maintain and grow your profits during moments of peak demand. If you’re not sure whether you should raise your prices, then analyze how much business you are losing because of price. If it is less than 15 – 20 percent of your opportunities, then you’re not charging enough.


Focus on the Personal


Value you Create Customers receive value from the product you sell, the company you sell for and you, the salesperson. Our internal research shows that the product represents most of the value


– 57 percent. Te company you sell for represents 18 percent of the total value and the salesperson represents 25 percent of the value. During times of peak demand, focus on the one dimension of value you can control – yourself. Pinpoint ways to personally create more value for the customer through creative problem-solving. Te 25 percent that you contribute can make all the difference in the world.


For example, one salesperson recently shared his experience of helping a customer during a product shortage. Tis customer desperately needed a product, but nothing was available. Te seller contacted another customer who recently stocked up on this high- demand product and brokered a deal for the two companies to share the extra inventory. Tat salesperson created personal value.


Look for Opportunities


to Improve Te Greek philosopher Plato famously said, “necessity is the mother of invention.” Te challenges you face during peak demand create opportunities to improve. Review your complete customer experience and look for ways to make it better. Ask yourself, “What bottlenecks are we experiencing?” “Can we find alternative sources for hard-to-find products?” “How can we improve our end-to-end experience?” During tough times, you need to do more with less. Identify those opportunities and let the pain you experience catalyze positive change.


Shed Less Profitable Customers Every organization has that group of customers that chew away at the bottom line. Tese high-aggravation customers are never satisfied, they complain more, return goods more oſten and constantly ask for discounts then pay their bills late. Teirs is business you want the competition to have. Use this peak


demand as an opportunity to shed the dead weight. Also, never sacrifice your scarce resources to serve these customers.


Maintain the Right Attitude Peak demand beats the alternative. At those moments you struggle, temper your frustration by gaining a little perspective. It’s better to compete in a high-demand market than a downturn. Te problems you face during peak demand are good problems because they position your business to succeed and grow. Embrace the right attitude as you navigate the challenges of the current market. When you maintain positivity, it is easier to find the opportunity in the struggle.


Tough times are temporary. Tey don’t last and neither does the stress they create. Tis past summer we watched the Olympics and celebrated the victories. Tere was a noticeable absence in the Olympic pool this year – Michael Phelps. Phelps is the most decorated Olympic athlete of all time, having overcome several challenging periods throughout his career. Consider Phelps’ famous quote on overcoming adversity: “Tere will be obstacles. Tere will be doubters. Tere will be mistakes. But with hard work…there are no limits.”


About the Author Paul Reilly is a speaker, sales trainer and author of Selling Trough Tough Times. Visit www.ToughTimer.com/book to download two complimentary chapters of Paul’s new book! He is also the co- author of Value-Added Selling, fourth edition (McGraw-Hill, 2018) and host of Te Q and A Sales Podcast. Contact Reilly at 636-778-0175 or email Paul@ ReillySalesTraining.com.


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