It has to be said, I am sorry, but it does have to be said.
Brexit has made a difference and will make further differences to business.
Things are changing and there are more changes to come.
But, I am not one of the doom-mongers as I believe it offers us interesting and useful opportunities. I say ‘offers’ as it is up to us whether we take those opportunities or sit back and just hope.
Whatever happens there will be change, and we need to be prepared as best we can. But prepared for what? I believe there are four indisputable facts:
- Brexit will happen!
- Markets will change
- There will be greater focus on domestic markets
- We will find ourselves competing with more UK companies as larger providers seek to replace off-shore business.
This is what happened to Salient in the last 18 months:
- Five larger prospects, (£1M turnover+), were reasonably secure in my sales pipeline.
- As the Brexit vote loomed, happened, and shocked the markets, these five companies retreated, not wishing to ‘spend money when the market was so unpredictable.’
- My cash-flow forecast dropped considerably!
- I initiated my contingency, my Plan B, and targeted the smaller businesses that tend to ‘get on with it’ no matter what the market is doing.
- I had to replace one large opportunity with ten smaller ones.
- It was successful, and I have now progressed to Plan C where I develop the new smaller company market, while attracting new larger opportunities.
But what of the larger companies? What will they do in this Brexit uncertainty?
I believe they will do very much as I did and look to smaller domestic markets to fill the gap in their turnover.
In other words, those who rely on domestic markets for the majority of their turnover will start to find more competition from larger suppliers.
There is another side to this. Those seeking your products or services are less likely to look off-shore for suppliers as these are likely to become more costly. Therefore, they will actively seek domestic suppliers. It could be you, if you are ready! Another point is that if they previously sourced from larger companies, they are likely to spend more than your present customers.
To summarise, this could mean for your business:
- New domestic markets are likely to open up
- Competition will increase for home-grown opportunities.
- The new opportunities have different expectations and spending levels
Are you ready?
Is your sales team and/or your sales process the best it can be?
Your sales effort needs to be at its best; sharp; focussed; forward-thinking.
Don’t miss the boat.
If you fail to address this, others will get there first and will win the lion’s share of the new opportunities.
If you are successful in this, your business growth could be double what you would anticipate for 2018.
If you would like to discuss your experiences of this, please be in touch; call or email Andy
Has anyone else noticed this? ‘Sales phobia.’
A contact of mine who runs a business that provides professional training to education, public sector and professional bodies, was telling me that his clients appear to have adopted sales-avoidance strategies. I suspected this was a wind-up until he told me that, for some, their new term for this was ‘Customer Engagement’. Others had replaced sales and selling with the catch-all of ‘Business Development’. I had previously heard of a consultant in the south of England effectively demoting sales by saying it was part of the discipline of ‘Business Strategies’.
Sadly, there may be a simple reason for this; bad experiences of being sold-to and more people are expecting to be given the ‘hard sell’ As a result they do not respect the sales process or people who sell.
Having spent 20 years in field sales and sales management, I have been very aware of the pressure that senior management put onto their sales teams. In the companies I worked for, it was always ‘do whatever it takes to win the business’. In the extreme, one MD said to a colleague of mine ‘if you don’t win the business, don’t bother coming back’! This culture fostered some terrible sales practices, all based on pressure, manipulation and worse.
At the same time, business-to-consumer sales was facing growing and tougher competition and so, instead of offering better service as an enticement to buy, they too adopted pressure selling techniques. We all remember the awful reputations gained by car and double glazing salesmen!
Unfortunately, I believe that, while some improvement has been made, pressure selling is still rife and the sales discipline as a whole has become tarnished by these unethical practices. The culture is also perpetuated by the likes of The Apprentice, and, occasionally, even Dragon’s Den., i.e., if you don’t do what is expected, if you don’t win, you are humiliated and you are out.
When selling, how far would YOU go to protect your income, your standard of living?
I suspect that this continuing culture has caused the name change. Perhaps our own professional bodies should take notice and make solid pronouncements against pressure selling techniques. Perhaps not enough has been done to ‘clean-up’ sales with clearly defined boundaries of what is ethical and what is at least ‘dodgy’. I feel passionately about ethical selling and have flown the flag for some years now, but I too come across very negative attitudes towards selling and sales people in general.
I aim to bring back enjoyment and satisfaction in selling by teaching a clear and clean sales process that is open and understood by all prospects.
In the words of Robert Louis Stevenson; “Everyone lives by selling something”. Often this is just selling ourselves; making a good impression; having a positive impact. If we cannot do this without being devious or manipulating our prospects, then clearly we cannot be trusted and perhaps we deserve the demotion to a sub-discipline.
In short, ethical selling must inherently be more successful, especially in the longer term.
- Pressure selling is less likely to result in repeat business or referrals.
- Building business relationships and selling ethically reduces the need to keep looking for new customers.
- Customers who don’t enjoy buying from you are less likely to come back for more.
- Keeping existing customers AND finding new ones will build a business far quicker than if you constantly have to look for new opportunities because former customers have voted with their feet.
If we don’t all start flying-the-flag for strong, ethical sales, then fewer people will respect it, expectations will remain negative, and we will all become ‘customer engagement’ experts!
Do you have a ‘Sales Phobia’?
Let me ask a different question:
Does the idea of selling cause you to palpate or procrastinate?
Do you fear a prospect rejection, or worry about making a fool of yourself when asking for the business?
If the answer is yes, you may have a sales phobia.
Unfortunately, I fear this is becoming more common. I am doing my best to change business culture to accept that sales can and should be ethical, simple, jargon-free and enjoyable! I achieve this in most cases. However, there is a risk that this phobia is becoming institutionalized. It should be a high profile and honourable profession. Don’t let the gainsayers try and tell you otherwise!
Selling can be even more fun than buying!
To me there are three possible answers to this.
(The ‘not quite hilarious’ answer is number 3.)
At the end I will challenge you to find a fourth!
3 possible answers:
1/ When I was part of the ‘corporate world’; field-selling and directing sales for larger companies; the glib answer to this was ‘None’, that’s the Marketer’s job’. This old chestnut was coined by territorial salesmen who neither understood nor respected the valuable work done by the marketers (or ‘marketeers’ as some like to call themselves). The reply was at best, mildly amusing, but, to me, it simply emphasized the big divide between the sales and marketing departments.
For whatever size of business, sales and marketing need to work together. Good marketing raises your profile and attracts new customers but does not ‘win’ the business. Sales skills are needed when the new prospects contact your business. Good marketing can result in a much faster and easier sale as you avoid having to find and make contact with new prospects. But remember; the sale will not just happen; you will still need to pitch, negotiate and close, and then manage the new client.
2/ The real answer to ‘how many sales people…?’ If the marketing has been done effectively, then the customer will have realised;
- the value of a light bulb (it’s gone dark), thus identifying the need, and….
- a good idea of how the product (the light bulb) is applied (screwed-in).
A helpful sales person may then show the customer how to achieve more light by buying and inserting the new bulb, thus, fulfilling the need. However, at the end of the day, it is the customer’s responsibility to actually screw-in the bulb. So, again, the answer is ‘none’!
3/ The answer is 2; one holds the light bulb still, while the sales manager makes the world revolve around him (as he likes to think it does)….
HERE’S THE CHALLENGE: let me know your suggestions for answers to the question:
HOW MANY SALES PEOPLE DOES IT TAKE TO CHANGE A LIGHT BULB?!!
Answers may be humorous, ironic, or simply thought-provoking. The best entry will win a half-day of one-to-one sales & marketing coaching, aimed at lighting the way ahead for your business and helping you to grow your sales. (This can be in person at the Salient office in Royal Wootton Bassett, or by Skype and email.)
The winner will be decided on May 31st 2015.