Jul 21, 2023

STC104: Top three Considerations when selling in a challenging economy.


STC104 Top three considerations when selling in a challenging economy

On this episode of Selling to Corporate , Jess discusses the top three considerations when selling in a challenging economy. With companies facing budget constraints and changes in priorities, it’s important to have an understanding of the current market dynamics.


Noting the importance of evaluating processes and numbers, Jess discusses the importance of staying realistic and focused and how to create a well-defined and consistently followed sales process.


1. Understanding Considerations When Selling in a Challenging Economy (Timestamp: [00:22])

– Discusses the challenges in the market and how companies are responding with budget constraints and changes in priorities.

– Emphasises the need to understand considerations when selling in a challenging economy.

2. Importance of Having a Good Sales Process (Timestamp: [01:30])

– Reassures that having a good sales process is key and there is no need to worry too much.

– Highlights the importance of evaluating processes and numbers in the current market.

3. Being a Consultative Salesperson (Timestamp: [05:10])

– Emphasises the importance of challenging clients’ perceptions and helping them understand the root causes of their problems.

– Describes the role of a consultative salesperson in pitching, challenging perceptions, and supporting clients in making important decisions for their business.

Please note that the timestamps provided are approximate and may vary depending on the episode’s actual length and structure.


Throughout the episode, the role of a consultative salesperson is highlighted in challenging clients’ perceptions and helping them understand the root causes of their problems, helping them connect the dots between symptoms and underlying issues.


The episode also highlights common objections in the current market, such as price objections, and the importance of not backing off when faced with those objections. Jess acknowledges that the audience may not be experts in B2B lead generation or sales but shares the need to understand clients’ problems and challenge their perceptions in a consultative manner.


Overall, this episode of Selling to Corporate provides valuable insights for salespeople navigating a challenging economy and emphasises the importance of a well-executed sales process and effective communication with clients.


In this episode I’m sharing;


Considerations for selling in a challenging economy [00:01:04]

C-Suite sales boomed in 2020 & 2021[00:06:10]

Economy changes require businesses to adapt sales [00:10:05]

Focus on what truly matters in business [00:11:22]

Stay focused on reality, watch for objections [00:14:40]

Inconsistent sales process leads to revenue loss [00:18:35]

Seek genuine solutions, challenge client perceptions [00:24:43]

Experts must identify the clients’ actual problems [00:27:30]

Challenging perceptions, adding value, not pushy [00:31:56]

Sales responsibility is crucial in this economy [00:34:08]

Build brands, make money, implement processes and be successful in any economy [00:38:26]


Key Quotes:


The Importance of Broadening Perspective: “It’s really easy to fall into that mindset and it’s really easy to do when you’re isolated and kind of work in a vacuum where you don’t see other people making sales.”

— Jess Lorimer [00:11:22][00:12:46]

Sales Process in a Changing Economy: “If you haven’t been generating the revenue that you wanted in a relatively boom market, it means that something in your sales process hasn’t been working in the way that it should have been working.”

— Jess Lorimer [00:18:35][00:20:04]

Sales in the Changing Landscape: “They’re not going to buy stuff from people who over promise and under deliver.”

— Jess Lorimer [00:24:43][00:26:07]

Consultative Sales: “It’s our job as consultative salespeople to help them identify whether they’re talking about the right issue or whether they’re ignoring something that’s potentially bigger and potentially more dangerous.”

— Jess Lorimer [00:27:30][00:28:48]

The Importance of Process and Execution: “It is not the market to hope that things will be different if you keep doing the same activity. It’s the market to make sure that your process works, that you follow a process and that you execute it because that’s what’s going to get you results.”

— Jess Lorimer [00:35:36][00:36:55]


Key Resources Mentioned in this Episode:


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Top 5 Business Development Questions: If you’re looking to convert more business development calls into sales? You need to be asking the right questions and getting the best information to support future work. Download my Top 5 BDQs here and start getting quality information from your prospects.


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