Fear resonates in today’s market. The resulting reality is that few of us are anxious to buy anything when confronted with headlines riddled with phrases like “freezing credit,” and “worst economic situation since the Depression.”

So, what’s a salesperson to do when buyers aren’t in the mood to buy? The obvious answer may seem to be work harder, make more calls, cut prices, and push for the close. But this approach may actually be counter-productive. The smart answer is to first relax, and then strategize. Here’s how:

1. Decide to focus on the opportunity. Despite the headlines, it is not the end of the world. In fact, down markets often bring opportunity, and the salespeople who play their cards right can emerge as sales heroes. Even in the worst economic conditions, people and companies buy. They may buy less, but they still buy. So the first step is to decide – yes, it involves making a conscious decision – that you are going to act on this opportunity. Decide that you are going to be the one that they buy from. Convince yourself that you will not only get through this, but you will prosper from it.

Lasso-in and redirect the voice in your head that is saying things like “this deal will never close in this market” or “sales are just going to be down this year – I better prepare for a smaller bonus or commission check.” We have all seen the research and probably have experienced first-hand how critical a positive attitude is to sales success. Be conscious of what you are thinking and the effect it is having on how you approach your day and the conversations you have with your clients and prospects. Counter the negative thoughts with positive thoughts. Write them down, and read them every day or every hour if you have to.

If you are a sales manager, it is more important than ever that you keep your team positive, productive and constructive. You have an enormous impact on how they will view the ramifications of the market turmoil. Facilitate conversations about the environment. Help your team focus on the opportunity. Now is the time to over-communicate. Listen. Share success stories, and be available to brainstorm roadblocks. Communicate what is going on in the company so the sales force can concentrate on their clients and prospects.

2. Develop a strategy for this market. The game has changed. How clients perceive value is different in a down market. Engage in strategic conversations with your clients to genuinely understand the implications of this market from their perspective. Ask questions like: “What short and long-term impact are you expecting this market to have?” “What are you hearing from your clients?” “What are you most concerned about?” “What opportunities are there in this for you?” “What adjustments are you making to your strategy?”

With this as background, sit down with your colleagues and review what you have learned. Think about the impact that the changing environment is likely to have on your client’s industry and business. Take a fresh look at your competition. How are they likely to react? How do their strengths and weaknesses play in this market? What opportunities does it provide? Then, brainstorm the implications all of this has on your value proposition. Get creative. Ask yourselves how you might tailor your product and sales approach to better align with the new challenges your clients are facing. Finally, review your current accounts and prospect lists with an eye toward opportunity. Are there competitor accounts that might be vulnerable? Are there prospects that might be more willing to talk in this environment? Are there accounts that we have that are vulnerable? What strategies can we employ to secure them?

3. Understand that your clients and prospects are feeling insecure and vulnerable. In addition to selling your product, service or ideas, you are selling safety, security and reassurance. One of your most important jobs as a salesperson is to minimize the sense of risk your clients may be feeling when making their buying decisions. For prospects, this may involve providing more references and success stories, or allowing them to somehow test your product or service in advance of buying. For existing clients this is likely to involve reminding them of past successes you have shared and demonstrating your deep understanding of their business. Watch out for decision making by committee – often the case in down markets. Help your clients justify their sales decisions to other decision makers and senior managers as the need arises. Offer to help your clients do the internal selling necessary to make everyone feel comfortable with their buying decision. Be patient. Now is not the time to push.

Similarly if you are a sales manager, your sales force is likely feeling insecure and vulnerable. They need from you reassurance and support. Allow them to talk about their concerns in a structured environment so less time is spent talking about them over the water cooler. Provide opportunities for them to share their concerns and constructive ideas with each other.

4. Ask questions and listen with the intent to learn and solve problems. These foundational skills are more important than ever. You need to get the client talking in order to understand specifically what their problems and worries are in this environment. Salespeople can play a valuable role in helping buyers think through their problems and develop solutions. Just as you have decided to look for the opportunity in this market, you can help your client do so as well. Buyers are not only looking for quantifiable ROI, but also emotional ROI. Is their time well spent with you? How do they feel after they have spoken with you? Do they feel you’ve truly worked with them to help solve their challenge as opposed to just making the sale? Employing these consultative, client focused skills will not only position you for business now, but it will help to solidify your relationship for years to come.

If you are a sales manager, recognize that good times often can disguise bad sales habits. Now is the time to coach, reinforce, or re-train your sales force on their consultative selling skills so that they are on top of their game.

5. Demonstrate your understanding of their unique needs. Clients will buy in this market, but only from providers who truly “get them.” Clients feel more secure when they believe a salesperson thoroughly understands not only their business needs, but also their non-business needs – both stated and perceived. For example, clients like knowing you appreciate the importance of helping them look good in front of their boss, or that you know they may need help in understanding the technical aspects of your product. Look for ways to communicate to your clients your understanding of their needs through your behaviors as well as your words.

6. Concentrate primarily on your best opportunities. Sales cycles are likely to be longer in down markets, and may require more of your time. Be disciplined about screening for your best opportunities and focus your efforts accordingly. Make the extra effort to spend time with your existing clients. Show them that you understand their challenges by being flexible and patient. Face-to-face time is important. When prospecting, concentrate on your sweet spot –profiles that are best aligned with your offering. Now is not the time to try out new markets.

If you are a sales manager, set time aside to work with each salesperson individually to help them adjust their sales strategy and allocate their time. Brainstorm ways that they can still meet or exceed their sales goals by looking differently at their sales plans.

Strategically approaching a down market with a plan to make the most of your sales opportunities will pay dividends. If you’re willing to make the commitment now, you’ll stay afloat while others sink. And in the long run, your clients will appreciate you that much more for your efforts.

Ten Opportunities that Surface in a Down Market

Down markets provide sales people with the opportunity to:

1. know your current clients better by engaging them in “strategic” conversations around current market conditions
2. approach prospects that you once viewed as “untouchable,” as they may be more willing to talk
3. displace “order takers” who previously were able to survive solely due to good market conditions
4. develop new approaches that have relevance in good times and bad
5. demonstrate how positive and flexible you are
6. build loyalty with your clients by being there for them in the tough markets
7. hone your selling skills that may have gotten a bit “rusty”
8. develop new ways to position yourself and your capabilities
9. be viewed as the positive force in tough times
10. look back at this with pride, and in the next downturn know that you will not only survive, but thrive!