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March 06, 2009 at 07:00 PM
Bonita Springs, Fla.
“We’re in the worst economy in our lifetime, and I don’t think it’s going to get better in the next year,” Reed Holden, president of Holden Advisors Corp., Concord, Mass., said at a conference here.
Holden spoke about strategies for maintaining realistic prices in the face of a brutal recession during the annual disability insurance conference sponsored by JHA, Portland, Maine.
He called for a calm, analytical response to the recession. “My advice to you is, as quickly as possible, get over it,” Holden said.
“Getting over it” should mean improving products and services and working hard to find genuinely qualified prospects, not cutting prices to unprofitable levels, Holden said.
“You can’t price your way out of a recession,” Holden said.
One way to increase sales reps’ ability to sell based on something other than price is to train them to understand the products they are selling. Another way is to put more effort into using simple screening questionnaires and other techniques to filter good prospects from those who are not actually likely to buy, Holden said.
