Has your pipeline of opportunities dried up? Are you struggling to find new business? Have orders from existing clients stopped coming? If so, you're not alone. The new economy has presented entrepreneurs and salespeople alike with a whole new batch of issues, and dealing with them requires you to be nimble, flexible and creative in your approach. Here are a few things you can do to stay afloat and even thrive in the current economic climate.
First, consider creating a new offering at a lower price point than what you're charging now. The idea here is that your clients will get less, but they'll also pay less. Variations of your existing products, services and programs might make sense. You'll still address the needs of your clients and prospects, but at a more affordable rate, and create a greater volume of business for you.
For example, if you typically offer a one-day, in-person program that requires you to travel to the client's location, consider putting together a half-day webinar. Going online cuts back considerably on expenses, so you can charge the customer less but still offer value to your client.
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Be careful that you don't offer a virtually identical program for a much lower rate. If you do, clients might opt only for the lesser option rather than return to your standard, in-person program once the economy bounces back. Include only some of the components from your standard program in the web-based version. Explain to clients that you have to eliminate certain aspects of the standard program to keep costs down and make it work over the web. Since it's web-based, even charging a quarter of the price of your usual program can be extremely profitable. At the same time, you're sending the message to your clients that you care about them and recognize the difficulties they're facing.
Another option to consider is a "limited time only" promotion. For example, you could offer 25 percent off standard pricing in a summer promo if, for example, payment is received by Aug. 31 and the work is done before the end of the year. You'd be amazed how many clients are willing to pay in advance to take advantage of significant savings. Although you're charging less, this model will create a sense of urgency for your clients and help with cash flow until things turn around.
Send out an e-mail a few times over the next 30 days explaining your promotion. Let them know it's a limited-time offer and include the expiration date to create a sense of urgency for them to buy.
If you don't know how to start the sales process with new prospects, ask your best contacts and referral partners if they know anyone among your top 10 prospects. Even if your contacts don't know the decision maker, they might be able to give you a name to get your foot in the door. If you use social media such as LinkedIn, Twitter and Facebook, these tools can be invaluable in asking for referrals and personal introductions. Also keep in mind the power of first helping someone else before asking her to help you. Offering to help someone else by sharing leads and referrals can motivate that person to want to help you in return. This is known as the rule of reciprocity.
Finally, rather than randomly calling your clients and contacts to discuss new offerings and to share leads and referrals, send out a meeting request through your e-mail client and set up a mutually convenient time for discussion. This shows respect for your contacts' time, and you'll have their undivided attention during the time allotted for the call. Include any pertinent attachments in your meeting request that might be helpful for your contact to review before the call so you can make the most of your time together.
Try these tips, and watch your pipeline begin to burst with opportunity.




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