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Accelerating sales in a slow economy
Tags :
Sales Lead Management, Customer Engagement Strategies, sales Process 2.0, Social Networking in a Sales 2.0 World, Sales, Slow Economy
Industry :
IT Products
Functional Area : Strategy Execution |
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About "Accelerating sales in a slow economy" topic:
The first instinct of many businesses in the face of recession is to go into the crouch position and start cutting costs immediately. Cutting costs is certainly one strategy to help maintain a healthy bottom line, but shouldn’t you and every other business owner consider an additional second option: trying to maintain or even increase sales?
In this topic, we shall discuss the problems and strategies in sales lead management, customer engagement, sales process 2.0 and social networking in a sales 2.0 to maintain or increase sales during a slow economy.
2 debates
, 6 idea contests
, 2 question
on topic: "Accelerating sales in a slow economy"
Prev1NextShowing 1 - 9 of 9
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(rate this)
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1
Study customers Indepth, identify needs that add value to customer in short term
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Hunting and farming
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Raghu Kastury
| Added idea
"Study customers Indepth, identify needs that add value to customer in short term"
| 3 years ago
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When economies are good, usually customers buy, there is no sale required. But when things are not good, salesmen need to become creative and help customer gain better value through their products are services. Salesmen should study customer...
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Makrand Bhave
| Added idea
"Below the line activity"
| 3 years ago
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Thats the way to go... Use promotional route to showcase the brand / product. Maximum visibility. Good time to liquidate stocks with irresistible offers. Do it pan country... Splash the promotions and use the cascader effect for the brand to be...
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Ideate: "What are strategies for accelerating sales in a slow economy?" deleted from your view.
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(rate this)
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1
Concept Selling
2
Be aware of the buying patterns
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Anirudh R Menon
| Added idea
"Concept Selling"
| 3 years ago
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selling a concept based on which IT companies can consult and develop has worked out well especially in the matured markets
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Arup Chakraborty
| Added idea
"Focus on selective Customers."
| 3 years ago
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Due to the slow economy every one just has one Mantra for success and that is 'More for Less' and top it with a multi-Vendor/Supplier scenario as most preferred way of running business. In view of this every supplier should focus on Key Accounts,...
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Ideate: "What lessons you have learnt in sales during this slow economy?" deleted from your view.
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(rate this)
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1
Use a sales competancy model of training
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Train techniques to build stronger customer relationships
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Vishal Jindal
| Added idea
"Generate consumer Interest"
| 3 years ago
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During slow down, only the need arousal within the consumer can force him to make a purchase. Sales people shall be trained more on probing, analysis and then motivate a consumer through its own feelings to go for a product of your choice...
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Raghu Kastury
| Added idea
"Train on demand generation post slow down and managing sudden icrease in sales"
| 3 years ago
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It is certain that this slowdown in economy would teach a lot of lessons to lot of businesses. As a result of this, there will be changes in the way people purchase. Hence that new purchase methods to be identified and come up with a lead...
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Ideate: "What sales training can be given in a slow economy?" deleted from your view.
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(rate this)
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1
Existing relationships became more valuable
2
Decision times get longer
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Ramdas Pawar
| Added idea
"Existing relationships became more valuable"
| 3 years ago
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Agreeing to above, during depression in market, buyers becomes more risk adverse and look to do business with vendors that are already known to them. This discourages to bring additional sale and also new product to introduce to customers.
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Mohit Aggarwal
| Added idea
"Decision times get longer"
| 3 years ago
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I believe, if the customer takes time to take his decision it gets into a worse situation for my sales performance.This happpens as each purchase is reviewed and scrutinized to ensure that there was a solid business case for why the purchase...
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Ideate: "What are the trends in a declining sales performance?" deleted from your view.
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(rate this)
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1
Farming more deals from the existing customers
2
http://www.Nightlifeblues.com
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binod kumar
| Added idea
"http://www.Nightlifeblues.com"
| 2 years ago
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India’s Biggest Party Portal dedicated to promote Parties, Events, Concerts, Fashion Shows and Nightlife in Delhi
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SUNIL KR. KULSHRESTHA
| Supported idea
"Farming more deals from the existing customers"
| 2 years ago
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You are right Mrigena! that working on relationship will make us more successful in sales and enhance chances for future work make performance much enjoyable.
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Ideate: "What are the challenges in optimising existing relationship in a slow economy?" deleted from your view.
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(rate this)
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Price is the main factor when a buyer rethinks in buying during a slow economy. If we reduce our price it will reduce our revenue and profit margin. Is it a good strategy to lower price of the produc...
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SUNIL KR. KULSHRESTHA
| Answered
| 2 years ago
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in my opinion,we are bound lowering the prices during slowdown to maintain the sale volume. It is discussed a lot for win-win situation but who cares. Here is survival of the fittest.
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Makrand Bhave
| Answered
| 3 years ago
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I agree with Mohit!! Its value and I am of the strong opinion that BTL activity during a slowdown is something which affords the brand a one-on-one with its consumers and any promotion that would make the consumer think more loyally about the...
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Mohit Aggarwal
| Answered
| 3 years ago
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I don't agree in cutting price may be a good solution, but a good deal is always a way to spike sales in a slow economy. Instead, if you create a value for your customer through loyal business, it will regain you plus you set the prices anyway so...
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Answer: "Will lower prices increase sales during slowdown?" deleted from your view.
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(rate this)
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Many research has shown that through a good incentive programs, sales can improve performance as well as decrease turnover, increase customer satisfaction and enhance public awareness of a brand. Fro...
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Ramdas Pawar
| Answered
| 3 years ago
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In my opinion if the clients are given a direct incentive on their purchase like Discounts/rebate or a token (coupon, frequent shopper point, credit) towards future value, it could maintain the clients to relate in the goods or the service in...
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Answer: "What incentive program will you give to your clients during this period?" deleted from your view.
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(rate this)
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Yes
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1
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VS |
0
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No
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praveenkumar
| Argues in support of
"Yes"
| 3 years ago
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Physical apperance is not an important matter of sales for a sales person
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Debate: "How should be a sales person in front of customer?" deleted from your view.
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(rate this)
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Yes
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1
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VS |
0
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No
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Sanjay Chalikar
| Argues in support of
"Yes"
| 1 year ago
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Politics (Which can be bifurcated into (Poli - Policies & itics - Tactical Strategy)
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Debate: "Politics (Which can be bifurcated into (Poli - Policies & itics - Tactical Strategy)" deleted from your view.
Prev1NextShowing 1 - 9 of 9
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