6 Steps to Prepare for Economic Uptick in B2B

6 Steps for B2B Companies in  Economic Uptick
The stock market and other economic indicators have improved.  The economic indicators are showing signs of improvement. Many economists are starting becoming more bullish in their outlook. Now is the best time to plan for the success you in the future.   To get the thinking process moving, I have outlined several things to consider and make certain you are doing the right things with your customers now so that you are on board that economic train when it really gets rolling again.
  •  Protect Your Best Accounts: First, support and grow what you have. Your competitors may read this and are targeting your best accounts. Never assume everything is OK if you don’t hear from them. Make sure they know what you are already doing for them.
  • Call your Inactive Accounts: They must have become inactive for a reason. Find out why and fix it if you can. If the economy had created a downturn for them, be there to ride the wave up.
  • Exploit Your Strengths: Now is the time to differentiate yourself and your company. Take a hard look at what you, and your company, do well.  Build on these strengths.  Specialize!  Look for those niches.  Become an expert in your given area.
  • Ask for More Referrals:  When making your regular (value-added) sales calls make it a point to ask the customer if they would be a reference account for you.  Our research in one market shows that between 30 and 40% of customers are making referrals already.  Take advantage of a built-in marketing force.
  • Stay in Touch:  For the companies that aren’t buying today, be sure you are the one they think of first when they are ready. Create regular e-mail distributions for value-added tips, industry information, etc. Target these distributions to managers, technical people, and others as needed. Send personal, handwritten notes as well.
  • Stretch your Creativity:  Start saying “Why Not” a lot more. Why couldn’t you go after a bigger sale than you’ve ever made to this point? Think back. What was the most creative way you ever landed a new customer? Try it again.

Remember, now is the time to get ready.  It is hard to hop on a rapidly moving train!

Lynn

The Daniel Group

 

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