When you sell in a recession you are an advocate of hope.
In a time when companies are cutting back, your job is to encourage investment, and as result sales. If you have been reading this blog you know that companies that invest during recessions gain tremendous advantage over competition.The case studies are numerous and research from past recessions have documented this a fact. Mostof your clients will go along with the herd mentally and cut back like a stampede of sheep. Why don't more companies take advantage of a proven strategy for success?
The reason is fear, and not just any fear, it is the fear of the crowd. Dr. Gregory Berns, a neuroeconomist at Emory University in Atlanta put subjects in magnetic resonance imaging (MRI)scanners and watched their brain activation as they responded to different scenarios. Among the findings:
1. The brain’s “fear center” lights up when people are uncertain
2.The "fear center" is also activated when people behaved in contradiction to a group they felt part of.
Dr. Berns may have just found the roots of the "mob mentality," a fear driven, often irrational response that groups have to uncertainly.
Recessions create tremendous uncertainty, then the fear and group mentality take over.
When you sell in a recession you can over come recession fear in two ways:
1. Help your clients understand that recessions are a natural cyclical phase of a healthy economy and that all recessions end. (several posts on this blog will help you do this)
2. Counter fear with more proof. When you are on a call, you will need more factual support than normal. You may need to prove your value over and over again. You may need more documentation or research to document your competitive claims. It will take longer to make a sale. But when you succeed you don't just sell a product, you sell hope.
Read about Dr. Berns' findings in a recent USA Today article
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