With the 2nd half of 2017 well underway, it is essential to not only review your performance but assess market trends and ensure you are on top and ahead of it. Generally speaking, the consumer is six months behind the market, and sales professionals three. In most cases, when the market shifts, business is being conducted as if it hasn’t.
To stay ahead of the market, requires you to be a student of the market. Watching micro (local/area) and macro (national/international) economic trends are important as well as Lagging and Leading Indicators to determine any potential shift in supply and demand. Here are definition and examples:
Leading Indicators
- An indicator that predicts future events and tend to change ahead of that event. Sometimes used as a predictor.
- Example: Money supply, Production.
Lagging Indicators
- An indicator that follows an event.
- Example: Unemployment rate, Housing starts.
Coming to your prospects and clients with data, statistics and trends raises your credibility and value. Giving them up to date information relevant to their decision can sometimes be the difference maker on whether or not you win the sale. How is your knowledge of the market your customers are most affected by? What direction is it heading and how will that affect your clients and bank account if you are not on top of it?
We help our clients stay on or ahead of the market and their own numbers which are lagging and leading indicators as well. You need to as well. If you are not sure how to get and stay ahead of the market, Contact Us today and meet with one of Our Coaches. Do it before it gets away from you!
