Few things strike such fear into sales professionals as when a competitor lowers prices. The knee-jerk reaction is to go toe-to-toe and price match. But this strategy is ultimately a zero-sum game; as prices drop and your solution becomes seen only as a commodity, it becomes harder to compete and harder to sustain profit margins.
Successfully plan your exit strategy with these 5 things to do to get ready to sell your small business.
Set bigger goals for your leadership and sales teams. Why not reach for 10X your typical business goals?
In recent blogs I've been writing a lot about the evolving market because it's especially important in these conditions to have robust processes that lend confidence and set you up for success. When designed and operated properly, your Sales Pipeline is another key tool to serve in this purpose; a proxy to identify what's going well and what's not going well with your business.
It’s no secret that the sales team is an instrumental piece within an organization. That team requires a strong Sales Leader in order to continually deliver on sales goals to keep the company moving forward. But it’s important to keep in mind that while a team member may be a strong salesperson, that doesn’t mean their skills will translate into them being a strong Sales Leader.
The Covid-19 pandemic dealt everyone a tough 2020, and perhaps now you’re starting to notice some momentum as the economy starts to re-open. Maybe you’re thinking, “we’re seeing a light at the end of the tunnel; let’s just keep doing what we’re doing,” but if the pandemic has taught us anything, it’s that the strategy set six months ago may no longer be applicable.
As more organizations embrace a societal purpose, people at the top need to understand how to become effective purpose-driven leaders.
It’s common for sales professionals – both new and seasoned veterans - to run into bumps in the road from time to time that results in a struggle to achieve sales goals. Changing market conditions, taking on a new territory, loss of “that big deal” they invested lots of time into, and a variety of other causes can all be contributing factors to missed sales goals. Whatever the reason, Owners and Sales Leaders need to find ways to positively support their struggling sales reps to help them get them back on the right track.
Did you know virtual selling has been in the making for 94-years with the first video call dating back to 1927? Talk about it taking a while for technology to catch on! Learn more about the interesting start to video calls below. The video call has come a long way to become a regular part of consumer mainstream technology over the last few years. But, over the past year, the COVID-19 pandemic pushed the corporate world much faster into using video conference calls as a virtual selling platform and for day-to-day customer interaction. This idea brings to mind the old phrase, "It's nice to put a face with the name." There is a lot of psychology that goes into how a relationship develops because of the connection in seeing and "knowing" someone's face and being able to read and react to their body language. There is a certain rapport and trust that is built. Today, the video call is a differentiator attributed to sales success.
The better you integrate B2B sales and marketing the more new clients you'll acquire. Consistent messaging, promoting product value, and creating common goals across sales and marketing departments will help increase new clients.
