One of the time tested methods for surviving a tough economy is to hone in on prospects who match the profile of your most successful customers. This may sound like Sales 101 but it’s worth your attention right now because when times get tough, the opposite happens – namely, desperation can make it tempting to pounce on any lead that wanders in the door. Instead, urge your reps to obtain a deeper understanding of their current customer base and then use that understanding as a springboard to narrowing the list of leads they pursue.

“Know how your product is being used, by whom, and what value it brings to their business,” says Michael Pace, regional vice president at Infor Global Solutions and co-author of The Selling Machine (New Model, 2006). “Be brutally honest in understanding your customers so you can determine whether or not they are successful.” A slow economy is a great time to go back and dig deep with your current customers. Spend some time asking detailed questions – What aspects of the product is the customer using? How it is being used? By whom? With what specific results? Quantify everything as you go so you can start putting together a solid understanding of the value you provide.

It’s important to keep two things in mind as you go back to your customers. First, don’t gloss past generalities; pin customers down on specifics. All too often, says Pace, reps ask whether customers are happy with a product and whether there are any problems – and when they get the right yes and no answers, they hang up the phone feeling pleased with themselves. Don’t accept this kind of superficial exchange, warns Pace. “We need to go deeper and ask, ‘Why are you happy and how exactly are you using the product?’ ‘What tangible, real benefits are you receiving?’”

Second, don’t shy away from unhappy customers. It’s a natural human tendency: we want to spend our time with the people who are happiest with us and steer away from those who are least pleased. Don’t fall into that trap, warns Pace, because it’s just as important to know why a customer is unsuccessful as it is to know why another is successful. Ask the same kinds of probing questions of your dissatisfied customers that you ask of your satisfied customers. You may discover that all you need to do to is re-engineer a valve or change the appearance of your software to optimize your product for that customer. Or you may learn your product has diminishing returns for companies larger than 1,000 people. Guaranteed, you’ll learn something and whatever it is will be useful in some way.

When you go through this exercise you’ll come away understanding two important things: You’ll be able to create a detailed profile of the type of customer for whom your product or service is ideal. And you’ll be able to create a solid value proposition, with numbers and quantifiable success stories. When you combine these factors – by targeting prospects that fit your ideal profile and offering them a compelling value proposition – you’ll see your win rate increase dramatically, regardless of economic conditions.