Interview: Tom Hopkins on Selling in Tough Times

UPDATE: WIN A COPY OF “SELLING IN TOUGH TIMES” HERE

From time to time, I’ve posted videos and ideas from Tom Hopkins who, along with Zig Ziglar and Brian Tracy, is probably the best known sales trainer in the country, if not the world.  He recently released a new book, Selling in Tough Times - How to Sell When No One Is Buying, so I interviewed him last week to find out more.  Here are some highlights of our conversation:

• Geoffrey James: You’ve already written 15 books.  Why another one?
• Tom Hopkins: When the American economy started its downward spiral, interviewers, my students and my agent all asked what advice I had for salespeople in times of crisis. I assured them that sales can still be made. In fact, history has proven that many of today’s great companies got their starts during poor economic times. The biggest challenge we all face during crisis, whether it’s a personal crisis or a global one, is fear. Fear makes people act differently. My goal with this book is to show salespeople the proper ways to calm those fears and help their clients rationalize making buying decisions now.

• GJ: What do sales pros do wrong when trying to sell during hard times?
• TH: They go into sales situations with dollar signs in their eyes. They know that their company and their family needs them to make a sale and so they come across with too much intensity. If you want to be successful in hard times, you need to stop acting like that. You must be able to say: “Tell me how you’re being impacted by these times. I’d like to find a way to help you and your business survive and thrive.” Then, if there’s a real need there, “I have a great offering and I’m in this relationship for the long haul.”

• GJ: But can’t it get discouraging when people aren’t buying?
• TH: It’s easy to get discouraged when you focus on the negative. The truth is that fortunes are being made today. It’s all about how you seek out opportunity. The real pros don’t feel desperate in situations like this. They know it’s all a cycle and we’ve been through it before. This country is huge and great and it will bounce back. I believe that 2011 will be a fabulous year, so the best thing you can do in 2010 is line your ducks up for 2011. When things start to come back, companies will be looking to change things as the economy and their financial situations changes. So the time is NOW to build your relationships and stay close to the customer.

• GJ: How big a role does customer loyalty play?
• TH: It’s important, but today, to secure customer loyalty, you must do much more than in the past. Decades ago, you could get a handshake and be certain that people would follow through. Today, companies will make commitments and then change them if they can save a little bit of money. If you perform like you’re a member of their team, helping them with ideas to succeed, you’ll be the last one they’ll want to cut if they face budget cuts.

• GJ: Why are so many sales professionals struggling?
• TH: From 1992 to 2004 almost every company found it pretty easy to do business. Companies increased size, increased budgets and started spending more. Conditions were such that it was pretty easy to make sales, and so sales professionals got lazy when it comes to doing thing that ensure customer loyalty. As a result, organizations and individuals that lack a professional attitude are finding this environment very challenging.

• GJ: When it comes to securing loyalty, what’s the most common mistake that sales professionals make?
• TH: Failure to follow up. In the past, there was so much business out there that you could just continue to develop new business and basically let your old relationships take care of themselves. Today, however, it’s vitally important to keep calling clients, thanking them, thinking of new ways to help them, etc.

• GJ: How can sales professionals position themselves for 2011?
• TH: Revisit everyone who was not interested in your product over the past 3 to 5 years.  Whenever the economy changes, people’s needs change, and you may find that some of them need you today, even if they didn’t in the past. Give them a call, send them a letter or an email. Let them know you’re doing well and that you hope to do some business with them  in your field for the long haul and that you hope to serve their needs in the future.

• GJ: How often should you do this?
• TH: You should plan on regularly keeping in contact with your entire “family” of contacts - customers and prospects. For example, I send out a daily email containing a “tip of the day.” I’ve had many clients tell me that they really enjoy that and look forward to reading it each morning. You can also get creative around holidays and other events. For example, I once gave pumpkins to 500 clients on Halloween.

• GJ: What can a sales professional do, right now, this minute, to position for 2011?
• TH: Here’s something quick and easy. List out your 25 most important clients. Wait until you’re sure they’re not at work and, if you call, you’ll get through to their voice mail. Then call, leave a message like “I know your company is closed for the day, but I thought it would be nice to say ‘hello’ and thank you for being such a great client. Have a wonderful day!” If it’s done sincerely, people really appreciate good wishes like that.

• GJ: Thank you so very much for your time.
• TH: You’re welcome.