
In B2B sales as in life, change is inevitable. The tried-and-true course is to enjoy the good times and prepare for the tough ones. So, how can you pick the best sales tactics that will see you through the unescapable sales slowdown?
"It is not the strongest of the species that survive, nor the most intelligent, but the one most responsive to change." Charles Darwin
Most Sales Tactics Suffer the Summer Slump
Recently, you may have experienced a summer slowdown in the sales process. Even the most trusted seller falls victim to this reality. Our friends at sagefrog.com cite reasons for this:
Vacation season slows decisions
Your customers’ internal teams are disjointed during decision cycles leaving key product evaluations unfinished.
Delay of the budgeting cycle
Falling between quarters or the end of a fiscal year, summer seems to draw the short straw. Therefore, budgets are depleted or stalled until the calendar begins anew.
Productivity plummets
June, July and August are notorious for productivity slumps and worker distractions. Of course, considering canceled meetings and absent players, you have a recipe for demotivation of any selling effort.
With luck, your sales quota can overcome the enticing weather and vacation-brain of your preoccupied clients. However, there are sales tactics that will help you recover the lost ground, re-energize leads and prepare for a big fall rebound.
Refresh Your Sales Tactics and Renew Your Approach
A summer slump may be short-term and predictable, but what happens when the economy turns south for real? If you want your business to continue to thrive during tough economic times, you need to get creative with your sales strategies.
John Graham, wiring for sellingpower.com, gives us 11 tips to create sales growth during economic uncertainty. Equally helpful as his advice is the perspective he chooses in dealing with a slowdown. He advocates an offensive approach when others are playing defense.
Increase your prospecting
Take advantage of your competitors’ distractions. Set a daily cold-call minimum and work it. Study the best prospecting tactics to breathe new life into your routine.
Decrease your cost of sales
Look in the mirror and ask yourself where you can cut your own costs. Find ways to limit entertainment or materials and postage costs while still maintaining important contacts. Budget-friendly sales tactics can save dollars while maintaining product integrity and service quality.
Emphasize value over cost
Instead of racing to the bottom with discounts, the smarter approach is to emphasize the value your product or service offers. Use case studies where clients have saved money over alternative solutions. Promote customer testimonials where your product has a leg up over the cost of your competitors.
Go for the niche markets
Research high-performing businesses in the current market and look for natural areas of overlap with your product. Find ways to expand or pivot your offerings to address this new opportunity.
With this offense mindset, you alter your sales tactics and refine your value messaging to clients. In a tough economy, another strategy is to focus on high-value clients and developing mutually beneficial partnerships.
Maximize Your Efforts with Account-Based Marketing
Writers at leadlander.com offer six innovative strategies for B2B sales in an economic downturn. Some of their sales tactics involve treating separate accounts as individual markets. This matching and mating allow you to maximize the impact of your sales efforts while minimizing wasted resources.
Higher revenue – fewer deals
By segmenting your accounts, you spend time and effort more judiciously. Once identified, you can develop a personalized engagement plan for each prospect.
Carefully craft a message that addresses specific pain points and challenges your client must face in these challenging times. Then create customized content that provides a solution speaking directly to their needs.
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