Many factors contribute to the ever-changing landscape in which marketers and sales leaders must navigate. Both prospects and customers have a habit of going cold, whether it is due to spending cuts or drawbacks, environmental factors, or waiting for other decisions makers and influencers to weigh in.
Of course, the pandemic has played a significant role in the need for sales leaders to continue evolving and finding creative solutions to today’s problems.
However, the pandemic is only one major event in a lifetime’s worth of small and significant events that challenge marketers and require innovative solutions.
Keep reading to learn more about how today’s top marketers and sales leaders are ensuring that their teams and companies respond to challenges in ways that drive results.
The buyer’s role has changed
Any sales leader understands the importance of identifying and adequately communicating with both the decision-makers and influencers of a prospective account. A change in the decision-making process and involved parties regarding an account can drastically impact your approach and success.
For this reason, it is essential to stay as up to date as possible when working with prospective buyers and accounts. If a company has changed or added new members to their leadership team or has possibly let someone go, it is your business to know (especially if they let go of your connection to their company).
One thing is for sure, successful sales and marketing leaders ensure that they stay in the know with their accounts.
Finding better ways to communicate ROI
This should come as no surprise as the industry is constantly striving for new and more credible ways to demonstrate ROI for its products and services. However, ROI calculations are still incredibly valuable to help decision-makers, and even influencers, quantify value.
One creative way top sellers are making their calculations stand out from the rest is by determining and communicating time to impact.
Most business leaders will require some form of ROI – they need to be ensured that their investment provides some kind of valuable return.
However, many ROI calculation models fail to show is how long it will take for a company to start experiencing a significant return. While this ability to clarify time to value is not available in every situation, if your product or service allows for it, this is an opportunity that you will not want to miss.
Investing in innovative training
Over 75 percent of leading companies agree that sales coaching plays a crucial role in the training of their sales teams. As the environment and the industry surrounding sales and marketing continue to evolve, training techniques are changing, as well.
As a result, today’s sales leaders are reinvesting their time and effort to dedicate more training that allows for coaching and role-playing.
These new training techniques involve the practice and implementation of necessary skills, including:
- Negotiation strategies
- Call confidence
- Presentation tactics
- New ways to demonstrate the value
The primary purpose of coaching and role-playing training techniques is to ensure that pipelines continue to stay warm for weeks and months at a time.
Mapping an effective rebound strategy
For each and every sales and marketing team, there will come a time when buying slows, and a rebound is necessary. Currently, this is being experienced by most sales teams that are bouncing back after the challenges caused by the global pandemic.
Timelines and problems aside, it is crucial for your customers and accounts to return to their previous buying habits.
It is the responsibility of you and your team to determine how your company will provide the clarity and direction needed for them to do so. There may not be a return back to the “normal” that was accepted prior to 2020, but as a sales leader, you can help to facilitate and create the confidence that your buyers need to move forward.
The quicker you and your team determine how to help your buyers find this confidence and clarity, the quicker your organisation can rebound from a hit.
Demand is not the problem
Usually, when marketers and sales leaders noticed a decrease in their sales or other performance metrics, the typical reaction is assuming that there is a decrease in demand.
However, regarding the current market, this is not the case. The good news is that there is still a very real need for what you are selling. Yet, the present challenge is that many businesses and organisations are cash strapped.
How can your team or your company make it easier for these businesses to continue purchasing your products and services? You will have to get creative. For some, this means deferring initial payments, redefining payment terms, and finding new ways to ensure that your business continues to create revenue while making it possible for your customers to affordably pay for your services and goods.
Finding new and creative ways to finance your offerings will ensure that your customers can continue to do business with you and your team.
Never underestimate the power of yes
Any sales leader knows that time is very powerful when conducting a deal, and too much time can be a silent killer. For this reason, it has become even more essential to receive those three magical letters from your prospects and customer – yes.
Getting your prospects and customers to agree to a deal is never easy and is even harder when economics and other environmental factors work against you.
To get the ball rolling and ensure continued revenue, smaller packages and the acceptance of smaller deals may be the best possible strategy for both sales leaders and their teams.
Even though hooking a big fish is always a cause for celebration, celebrating and encouraging smaller wins is the solution for businesses and organisations trying to navigate tough times.
Take a glance at any industry or organization that is experiencing success, and the chance is that they are finding ways to implement creative solutions and innovation.
Sales is an ever-evolving business, and for that reason, it is essential for sales leaders and their teams to adapt, be flexible, and find new ways to maintain and grow their business. Thoughts?
(Disclaimer: The views and opinions expressed in this article are those of the author and do not necessarily reflect the views of YourStory.)