It attracts depression, low work morale and can be career threatening.
How can you ensure that your sales numbers are rapidly growing?
Step #1 Identify key problems
Stagnant sales can have many underlying problems
- Poorly motivated sales force (learn how to boost sales force motivation)
- Bad team/accounts management
- Lack of sales enablers like a good CRM solution
- Too much bureaucracy
- Lack of insufficient/good quality leads
Step #2 Discuss business, not technology
Even good sales people waste too much time in discussing the technological aspects of their proposals, in the hopes of impressing the prospect. This is counterproductive,as the prospect is more interested in the business aspects of a proposal. Focus on key technicalities only and then dedicate yourself in bringing out financial value in your proposals.
Step #3 Shift from product to pain areas
Yes, your product is one of the best in the market. However, your prospect is interested to know how it will solve his persistent business solutions. Hence, after giving a brief introduction about your product/service, dive into detailing him/her about how your brand is the right fit for their needs.
Step #4 Research to discover more needs
Most sales teams concentrate on the needs listed down by the prospect. They miss out on additional sales/cross selling opportunities, if they just took some time to dig deeper into the prospect. It is a good habit to research about your prospect industry, company overview, but it will be more beneficial if you could try to find out what additional needs/opportunities you can serve for your prospect.
Step #5 Concentrate on specific points for big business
Big businesses have bigger budgets and specific pain points. Many sales people tend to beat around the bush in the hopes of delivering a comprehensive package for greater value. However, most businesses won’t take the bait. Unless you capture their attention by focusing on specific pain areas, you won’t be able to complete your sales process.
Step #6 Target bigger budgets
How long will you go after smaller fish? Up your game and target big budget businesses. All it takes is confidence in yourself and your product/service. Once you capture one or two big budget accounts, it does not take long to come out of sales stagnation.
Pursuant to step five, after concentrating on specific points, you can research and show the prospect how there are other relevant and connected needs to their pain areas. This will give you an opportunity to grow to bigger budgets as well.
Sales stagnation is nothing to be deadly afraid of. Every business cycle has them. But what will set you apart is, whether you take proactive steps like the above six. For more enriching results, follow them with the help of a CRM solution.