Hone your sales strategies to survive the economic crisis

Javier Marcos Cuevas and Lynette Ryals

This article reviews things that marketing and sales directors can do to cope with the recession: 1) avoid wholesale cuts in advertising and training budgets which, as previous recessions have shown, weaken brand equity and the sales force; 2) exploit the customer base: recognise how specific customer segments’ demands and values may change in recession and alter strategy accordingly (several suggestions given, including more focus on service); 3) monitor the cost of making a sale, reduce waste and adjust pricing accordingly; 4) strengthen the sales force and organisation; 5) use performance measures to reinforce strategy execution and marketing effectiveness.

Hone your sales strategies to survive the economic crisis

Javier Marcos Cuevas and Lynette Ryals

Worries about the length and depth of the recession are increasing daily. The instability of the oil and financial markets has led to a rapidly-worsening worldwide recession.

The most recent figures for the US show that the combined effect of the housing market correction, the sub-prime mortgage crisis and the declining value of the dollar resulted in more than 159,000 jobs being lost in September 2008 – a five-year record.

The EU has forecast that UK unemployment will soar to 7.1%, and the...

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