The sales department is the vitality of your business. Without the revenue and business it generates, and everything else your business does will be of any value. In this regard, I’d like to share with you some tips to guide your sales team through the changes and economic uncertainty that is threatening our heads currently. These strategies aren’t going to be easy. However, each will help you shift your concentration away from current problems to focus on the customer. That’s essential for opening accounts, no matter what’s featured on the front or in the “business” section.
1. Have Your Salespeople Put on Their Customer’s Shoes:
In the wake of the economic downturn, the majority of our producers have put aside the concerns of the customers and businesses they sell their products to and begin to think about their own issues instead.
The customers they serve are in difficult challenges. Trying to sell them the same solutions and products in the same manner as before isn’t going to take us far. Make sure that the salespeople who work on your sales team think about what their most valuable customers are in need of right now – not the things they’d prefer to be selling, and then have them adapt their strategy based on the knowledge gained from this. You’ll be amazed at the huge difference it could create.
2. Think Solutions, Not Products:
The same is true for you to realize that a small percentage of your customers are searching for new equipment, a better insurance policy, or another type of “product.” In the current market, they do not need anything else. However, what they’re seeking is a method to reduce their prices, sell more of what they produce, and remain competitive even in the face of severe costs to the bottom line.
It’s been the best moment for ROI-based selling. On the one hand, it allows your salespeople to talk to their clients and prospects in their own languages. However, more importantly, is that it makes them think about what is important to the person having to sign the invoice or order slip and also how they could better communicate those benefits during an important moment.
3. Get Past Prices:
If your salespeople say, they believe that cost is the most significant hurdle to closing new deals is a sure indicator that they’re not able enough in their sales processes. This is because, repeatedly, in any economic environment, the most effective salespeople are able to market high-quality products without resorting to discount offers that are easy to get. Whatever the reason that your customers choose to use you as a vendor, it’s unlikely to start and end with cents and dollars that appear on the invoice.
Yet, weaker salespeople almost always are caught overpricing, either due to a lack of confidence to stand by their beliefs or simply aren’t able to comprehend the selling process in sufficient detail to continue building value following the first objection. In any case, it’s your responsibility as a manager to clear them up. Cutting your prices constantly can make sales increase faster; however, it could cause you to go out of business in the process.
4. Think Long Term:
The topic of this post is how to keep customers coming in; that does not mean you need to instruct your sales team to focus on making the largest sale today. In reality, sometimes the best option is to attempt to sell the product in a smaller amount – which is a less costly amount of investment or commitment and could open the way to future business.
This leads to knowing exactly where your customers are today and the solutions that will best meet their requirements. Don’t let your production team put the emphasis on this month’s commission checks over a relationship with a client that may last for years. Aid them in drafting proposals that won’t just bring in business but also build partnerships that last more than this recession.
5. Give Them The Right Tools:
It’s a bit ironic that sales managers don’t invest in the training, technology, and other tools for their sales teams at the time they require their most. Instead of shunning the responsibility of the management of your team, stand with your team by making sure they have the right tools at their disposal. While every strategy I’ve discussed in this article can be useful, however, none of them is simple to master or learn and so make sure you invest in the tools you require to send your sales team ready to make contact with businesses.
Sales Management Points:
This may not be the easiest time for you to promote to your manager, but as a manager, you have to lead the staff members who are producing. Use these five tips to demonstrate to them that instead of staying hidden away from their surroundings, they should go out and close new accounts.