1. They reduce face-to-face calling by 38%
According to a purchasing management study, during tough times, salespeople call on customers at 62% the rate they call on customers during good economic times. Clients can easily sense this and so the best remedy is to increase your calling by 25%. If you call on customers at a rate of 125% of the rate you normally call, and your competition calls at a rate of 62% of the rate they normally call, you have effectively doubled your coverage.
2. Salespeople believe everything customers tell them and allow it to bias their worldview
If you call on four customers and all of them tell you the times are tough, you may erroneously assume that it’s tough for everyone. Never assume that because some customers are suffering, all are suffering. You may create your own misery with a customer if you gave him the opportunity to wield bad news for negotiating advantage.
3. Salespeople cut price versus value
This is always the easiest way to resolve price objections, but generally, the costliest way for sellers to handle them in tough times. When you cut the price at the drop of a hat, say goodbye to your margins because it’s doubtful they will increase when the times get better.