Selling without Inventory

I currently work in the commercial truck industry. My focus is on the light, and medium duty work truck market. This means that I focus primarily on small to mid size fleet accounts who use trucks under 26,000 GVWR and are mostly local to my immediate geographical area. The product is somewhat irrelevant with today's current global supply limitations and restrictions. Seeing that I speak with so many different types of clients in all industries, we all seem to be facing similar struggles. Lack of product.

This is a different type of challenge than I am used to. One that I, in my 20+ years of sales experience, have never been faced with, at least not at this magnitude and certainly not for this extended period of time. In the past if I felt or was experiencing a slump, and my goals were not being met (meaning sales were down) I could always reevaluate my action log and make adjustments where needed. It was typically within my control or a result of my own deficiencies, something I could change in my process. For example, make more phone calls, schedule more appointments, do more advertising or whatever the case. It was never as a result of simply not having enough product to sell.

So how can I adjust my success rate assuming the responsibility of total units sold, delivered and paid for when I have less units to sell? Doesn't that take me off the hook? NO! I have to change my measurable success from units to something else, but what? The thing that jumps out is clearly profit margins, right? If I want to achieve the same level of measurable dollars and cents it is clearly based on revenue. Less product equals more demand, equals higher prices. Ok, that's great. Problem solved, right? Wrong.

Customers don't just want to hear from you that they simply have to pay more than they used to without good reason. Everyone knows what is going on, however it doesn't mean that customers will sit back and accept this fact while handing over the additional expense for the same product or service that they are used to getting for less money.

This means we have to change our mindset and sales approach and YES, the measurable success that we are used to. We need to fine tune our focus. Rather than focusing on number of units sold where we are used to finding our profits, we have to sell value to our customers. We need to work with them through this challenging economic time and find ways to reduce costs, by showing value with a consultative approach with our offering. Maybe we can help manage their inventory, or better maintain what they have unit new units are available, project and forecast their needs with them? Now is the time to measure the depth and worth of our relationship with our clients. Truly be a partner, not just a sales rep.

Remember when you discovered in your sales career that 80% of your business (or profit) comes from 20% of your customers? Now is the time to focus on them and really learn how you can strengthen those relationships. Learn everything about how you can be of service to them. Because when you don't have a new product to sell them, you're going to have to provide a level of service that will help get them through until you do. Measure the quality of your relationships. That will translate to your continued success. Because when the supply chain does come back in full force, they will be the one measuring who did the most for them.