The end of the calendar year may or may not be meaningful in terms of your own deadlines, but odds are that most of your customers and prospects go through some changes at that time. Business customers will often tie fiscal year to calendar year, meaning that their budgets will turn over when the calendar year changes. And consumers are often in an entirely different buying mindset during the holiday season.
For B2B salespeople, the end of the year is the perfect time to go after whatever funding your prospects still have in their budgets. Most managers and department heads try to spend every penny of their budget funds, because if they don't spend it all they'll be assigned a smaller budget next time – something that all managers dread. So call up all the accounts that are sitting in your pipeline and make a push to get some of that budget funding in your company's pockets. You may be surprised how responsive you'll find prospects who've been formerly digging in their heels, once they're confronted by the year-end deadline.
Don't forget that your existing customers are probably in the same situation with regards to budget turnover. The last month of the year is a good time to schedule account review meetings. You can uncover any needs they've developed since the last time you spoke with them, and give them the chance to use up those extra dollars. Usually the best time to schedule these meetings is from mid-November to mid-December, before all the decision makers go on vacation. If your sales cycle is very long you might want to start even earlier, so that you can be sure to close the sale and collect the funds before the end of the year.
Selling to consumers at the end of the year is a bit different. Most people tend to be a little short on money at this point, thanks to the holiday season. So unless your product is something that can be given as a gift, you may find people hesitant to buy right now. On the other hand, the stress that the end of the year brings gives you a unique opportunity to present benefits that would decrease that stress. If you can show your prospects how your product will save money and/or bring them peace of mind, you may find this is an ideal time to sell.
Existing consumer customers, like business customers, can often benefit from an account review at this time. Scheduling a review at the end of the year enables you to steal a march on your competitors, many of whom will set up their own account reviews at the beginning of the year. So even if you don't close sales with your customers right then, you're protecting them from poaching by competitors just by meeting with them and demonstrating the value you offer once again.
Whether you're B2B or B2C, you should certainly reach out to all of your customers in some way. If you don't have a huge budget for gifts, send most of your customers an email thanking them for their business during the year and use what funding you have to buy gifts for your most crucial customers. Hopefully you'll know those customers well enough to be able to choose a gift that resonates with them. If you have a new, large customer or one you haven't been able to get to know for some reason, stick with a gift that's sure to be appropriate.
By Wendy Connick
http://sales.about.com/
For B2B salespeople, the end of the year is the perfect time to go after whatever funding your prospects still have in their budgets. Most managers and department heads try to spend every penny of their budget funds, because if they don't spend it all they'll be assigned a smaller budget next time – something that all managers dread. So call up all the accounts that are sitting in your pipeline and make a push to get some of that budget funding in your company's pockets. You may be surprised how responsive you'll find prospects who've been formerly digging in their heels, once they're confronted by the year-end deadline.
Don't forget that your existing customers are probably in the same situation with regards to budget turnover. The last month of the year is a good time to schedule account review meetings. You can uncover any needs they've developed since the last time you spoke with them, and give them the chance to use up those extra dollars. Usually the best time to schedule these meetings is from mid-November to mid-December, before all the decision makers go on vacation. If your sales cycle is very long you might want to start even earlier, so that you can be sure to close the sale and collect the funds before the end of the year.
Selling to consumers at the end of the year is a bit different. Most people tend to be a little short on money at this point, thanks to the holiday season. So unless your product is something that can be given as a gift, you may find people hesitant to buy right now. On the other hand, the stress that the end of the year brings gives you a unique opportunity to present benefits that would decrease that stress. If you can show your prospects how your product will save money and/or bring them peace of mind, you may find this is an ideal time to sell.
Existing consumer customers, like business customers, can often benefit from an account review at this time. Scheduling a review at the end of the year enables you to steal a march on your competitors, many of whom will set up their own account reviews at the beginning of the year. So even if you don't close sales with your customers right then, you're protecting them from poaching by competitors just by meeting with them and demonstrating the value you offer once again.
Whether you're B2B or B2C, you should certainly reach out to all of your customers in some way. If you don't have a huge budget for gifts, send most of your customers an email thanking them for their business during the year and use what funding you have to buy gifts for your most crucial customers. Hopefully you'll know those customers well enough to be able to choose a gift that resonates with them. If you have a new, large customer or one you haven't been able to get to know for some reason, stick with a gift that's sure to be appropriate.
By Wendy Connick
http://sales.about.com/
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