Tip # 8 – Know your market numbers & trends

February 16th, 2011 @ admin

In a recession everything changes! Markets disappear and others reappear. Everyone suffers in different ways. Over lunch today I was talking to a CEO who had his biggest client cut their work force by 30% last week, loosing the VP that was their biggest executive sponsor.

In tough economic times, it is important to keep track of what your specific market trends are doing. Are you selling into one market or many markets? How have them impacted by the economic conditions. Follow the trends and do something that they all need done … solve specific problems for them.

In the market place, following the trends and solving problems is the best way to stay close to the “real” numbers that are true to your specific markets. In the case of the CEO that had their biggest client loose 30% of their staff head count – this meant, the company needed their services even more (on one hand) and on the other, he was also looking for how he might have to not have to alter his pricing structure to stay competitive. In other words … he wanted to find out if his customer had to make pricing changes to be competitive.

Remember … the price of Gas and Real Estate has come down significantly.

Stay close to your markets and solve their problems in a meaningful way. It’s the safest way to align your numbers with theirs.

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Category : 25 Tips to Selling in a Recession &Blog &Business Strategy &Sales