Episode #176: Covid-19 Is Truncating Your Sales Activities, Therefore...

First the agreed purchases were postponed. Then the events were cancelled. Next the sales calls were canned. Buyers are in lock down, many are at home working from there. The economic fallout from the virus is weaving its way into the fabric of the economy, starting with the small and medium enterprises. It won’t stop there because this is a global phenomenon like the Lehman Shock. All the little fish around the world stop spending, because they are trying to preserve cash and commerce grinds to a halt. Big fish are not immune, because they depend on the little fish to open their wallets and buy their stuff. The effect is not as immediate as for small companies, but as the damage to small companies adds up, the big guys begin to feel the heat and they stop spending too. Ring a bell with you? Is this going to be a re-run of 1929?

Supermarkets and convenience stores are doing well, because people want toilet paper, face masks, alcohol hand cleansers and daily food needs. These suppliers are doing well too, because there is increased demand. However, do you want to go to a department store, eat out at a restaurant, invest in your business, buy an insurance policy, shares, a new car, a holiday, jewellery, clothes, shoes, movie tickets, etc. right now? Maybe not.

For B2B commerce, the buyers are not interested in seeing you and are refusing face to face meetings. They are not in a positive mood, because everyone can see we are either already in a recession or are about to enter one, so mentally, it is time for contraction not expansion. How do you sell to people who are not able to buy, because of a mega event like Covid-19?

Not every single company is out of the game. Some have strong cash reserves and will weather the storm. Others are in industries, where there is demand and they are generating cash. We all need the very basics - electricity, water, food, etc,. We cannot know each company’s individual financial circumstances looking in from the outside, so this cannot be a presumption game, about who we think are okay and who we think can’t buy. We need to contact them all.

This gets tricky, because unless you have their mobile numbers, it will be hard to reach people who are working from home. The good news is there will be no gate keepers blocking your call to the decision maker. This is actually a golden opportunity to get hold of people you normally cannot speak with so easily. In Japan, though the higher up the totem pole, the less information on their business cards.

I was reminded of this the other day. I had been coaching a very senior executive at a large domestic automaker for his speech at the car show in Geneva. He made huge progress and was A Game ready when we finished. Then I read in the newspapers that the Geneva show has been cancelled because of Covid-19. I think I will drop him a note about it, but find no email address on his card. Certainly no mobile number either.

So there are limitations to this strategy, but it is still a good one where you can get their mobile numbers. You still have their email addresses, so try and ask for their mobiles so you can talk to them. Some will agree and others won’t, but you have plenty of spare time on your hands so why not try. Also, try to come bearing gifts. Is there something you can do for the client? Maybe some product training for the client’s team, delivered remotely, while things are slow? Maybe work up a strategic plan for them, for thinking about their business post-crisis. Maybe you provide some credit payment plans to alleviate the pain of having to give up cash?

Start brainstorming what is possible rather than only considering what isn’t possible. Get a plan together and then work the plan. That is how we do it in sales, so let’s all get to work.

We are a training company, so there is not much training being held because people are worried about the virus. We are running public Live On Line Stress Management classes, which will be free to all attendees on March 19 (English) and 24th (Japanese) and April 16th (Japanese) and 17th (English). We are also offering the same thing as an in-house programme, delivered Live On Line for our existing clients and for prospective clients. This allows us to help our clients and our community. It is also giving our trainers something positive to do, when we can’t deliver normal classes. It gives our salespeople something positive to do, when they are having a hard time getting anyone to buy training at the moment. This is what we are doing, how about you? What are you capable of doing?

The registration process for these free stress management sessions is being offered on our website, so please go to this specific page: http://bit.ly/dale_stress_e