Fewer than 50% of today’s salespersons have ever sold in an economic slowdown. This stat is a result of demographics and economics. No offense, but it’s been easy to hit quota when interest rates were down-and-dirty, when buyers couldn’t snap up commodities fast enough, and when anyone who could walk and talk could get a home loan. Did you honestly believe you were that good?

But, what’s the plan when Lehman, Fanny and Freddy bite the dust? How do you handle an economic tsunami? How do you sell to a buyer whose 40lK has become a 301K? To a guy that’s spending most of his time on Monster and Craigslist looking for another job? To a company that is laying off people and laying on the ultimatums?

And sure, maybe your head isn’t screwed on right, right now either. Right?

We all knew the Boom Times would come to an end. We just weren’t sure when and how deep the cut would be. Well, now we’re standing at the chasm, looking down and it’s scary deep and way wider than we’d like. Solutions? First, here’s a little motivation, then a short list of how to sell in tough times.

Motivation. You’re Terry Anderson, a correspondent for a large news bureau. You’re stationed in Beirut, Lebanon. Five guys kidnap you and stick you in a 6 x 8 cell for 6 years. You miss your daughter’s youth and your wife’s touch. You have to ask for permission to go to the bathroom. You’re frustrated and angry. When it’s over and you’re released, you write, “Wasted, empty years? Not quite. That depends on what you made of them.”

Mr. Anderson said he got through it with a simple formula:

1. Accept reality-some things you can’t change
2. Confront your restrictors-deal with the negatives, don’t avoid them
3. Concentrate on what you’re doing, not how you’re doing it-put your energy into activities you can control and don’t worry about style points
4. Don’t “focus on the cones”-students in a driving school miss the cones when blindfolded and hit them when they can see them-keep a positive mindset

Translation: While you might feel these days like you’re in the middle of a war with Islamic fundamentalists, be thankful Hezbollah isn’t your sales manager! Your challenges are peanuts when compared to the ones Terry Anderson faced. And, if he can do it, maybe so can you…if you’re smart, savvy and have the appetite for the fight.

Tactics. Perhaps it’s best to put this into a series of “do’s” and “don’ts” based on time-tested research. For starters, a few things that don’t work in downturns are:

• “Spray and pray” to any and all prospects-come on, snap out of it!
• Selling harder and pushing buyers into quick decisions-this works?
• Cutting prices and getting nothing back in return-Christmas is early
• Desperate attempts to sell over your decision maker’s head-duck!
• Leaving several Voicemails for the same buyer-pester and plaster?
• Extensive use of E-mail blasts touting “specials,” “spiffs,” & “deals”
• Caving on profit margins just to get a deal-now what’s left?
• Professional begging, calling in favors, being too needy-try crying

Maybe some of the above activities could get you a sale in the short run, but history and common sense dictate these tactics are not effective in a complex selling environment. Why? The key reason is that buying cycles in economic downturns take up to 40% longer than in robust times.

Longer buying cycles dictate a different sales approach vs. conventional buying cycles. Consider the following tactics that do work in downturns:

• Sell security, reliability, safety and peace-of-mind-buyers are taking longer to buy because their margin for error is nil!
• Sell value and TCO (Total Cost of Ownership)-IBM customers actually paid 12% more in the last recession for equivalent products!
• Focus on your best opportunities-sell smart and concentrate on your “best few” rather than the “trivial many”-remember the 80/20 rule?
• Negotiate intelligently-know your “walk away”, drop pricing anchors you’ve researched, “frame” your responses, look for integration
• Get when you give-if you do cut price, get more months on the contract, or add an accessory, or get a service agreement extension
• Focus on “The What”-good use of time is absolutely essential, ask, “What’s the best use of my time, right now?” Better to chip away at an “A” goal than complete a “C” goal-deal with Important & Urgent items on your “to do’s”
• Build relationships and trust-people buy people, especially in tough times
• Make in-person calls–don’t rely on E-mail and VM when times are tight-we’ve gotten lazy and forgotten how much body language, eye contact, a smile, and a firm handshake count

Stay confident and don’t forget Terry Anderson. Stay positive and don’t focus on the cones. Stay UP. Don’t get DOWN. And, years from now, maybe you will have been good enough to look back at this meltdown and have made something of it.