In uncertain times like these, a healthy, full sales funnel can disappear overnight. If you were even lucky enough to have that… If you struggled with sales before, this need is even more immediate and difficult!
I have lived through a couple of major economic downturns. As a commission-only salesperson and as a small business owner, I lived through both 9/11 and the recession of 2008. In both instances, spending patterns changed dramatically overnight, virtually. My healthy sales funnels were emptied with canceled sales and prospects who simply disappeared.
After the initial shock, there was no time to waste. It was time to take decisive action! The strategies I employed in both of these trying situations, for my team and myself, continue to guide how I handle these “Yikes!! I need more Sales!” situations to this day.
Revenue pressure can be an extremely helpful opportunity for the growth of a leader and their team. I know it was for me!
So… EMBRACE the opportunity!
Do not get me wrong though… This is NOT an excuse for poor leadership of people and the processes they manage.
Here are the 7 strategies that I employ in uncertain times!
They are designed to help boost revenue and increase sales predictability.
1. Pray for wisdom, maturity, and provision!
Pressure has a way of making us either trust in our own abilities or surrender and trust more in God.
You must be willing to ask the hard questions regarding your personal leadership and disciplines as you lead your business
Prayerfully ponder if the pending cash crisis is a result of gaps in your leadership. What in this can you own?
2. Rejuggle your schedule and priorities to reflect your new reality
This reality requires an increased focus on sales… Start by:
Freeing up quality time for both you and your team to invest in getting more sales.
Blocking adequate time in your calendar each day and week to manage your sales funnel and sales opportunities.
Taking these two seemingly small actions and following through with discipline will have a dramatic impact on your sales results. Remember, sales is a numbers game - to get more results, you need to do more activities. But it is a smart numbers game... You need to take time every week to ensure you and your team are doing the right activities and prioritizing effectively. Pay attention to the numbers! What is working? Adjust your approach to ensure the best results.
3. Identify and plug the leaks in your sales funnel.
We often invest so much time and money in getting leads only to have them disappear without even knowing why they left!
Do you know where the leaks are?
Ask these questions to identify the leaks:
Are you taking the time to qualify each lead early in the sales process? This will ensure your sales time is spent on the highest quality prospects. Click here for our “Real, Win it, Worth it” sales qualifying guide.
Do you have an effective way to keep each prospect top of mind as they move through the sales process? This system should make it simple for you to regularly review, at least weekly, every opportunity and decide on their right next step.
Do you have an effective keep warm strategy for prospects? One that is multi-touch (email, phone, video, etc) that builds trust and positions your company as a trusted advisor.
Find the lowest hanging fruit! The leaks requiring the least amount of time and money, yet producing the biggest results.
4. Get more referrals
Referrals are one of the best sources of new leads. They will typically close faster and generate more revenue than leads from other sources. You need to implement an effective referral process.
Customers to think about when looking for referrals:
Those who have had a great experience.
Those who have had a challenging experience but you stepped up and fixed the problem for them.
Both groups are often happy to refer you!
If you need more business now. Contact every customer from the past year to 18 months and request feedback. Click here for our guide to asking feedback from past customers.
5. Review your existing clients
As you are reaching out to your past clients, explore the opportunity to add more value for them. The easiest client to get if the one you already have. At the same time, ask them for a referral. Click here for your guide for asking past customers for feedback and a referral.
Do you have any opportunities to sell something new to past or existing customers?
In most cases when you get a client, you only end up selling them what they immediately need. As a result, many of your past and existing clients may have no idea about many of the products and services you offer. Also, you may have added new products and/or services since you last worked with them. Or maybe, their needs have changed.
These are all opportunities where you may be able to add more value!
6. Remember to make it your goal to be a remarkable company to deal with!
Pursuing anything else but a remarkable client experience will have you settling for 2nd best. The data is clear, someone who has a great experience is far more likely to buy again and REFER YOUR COMPANY! Delighted clients tell their friends, as do those who are seriously disappointed. Just-satisfied clients often tell no one.
How easy is it for your clients to do business with you?
Are they delighted or just satisfied?
A remarkable client experience is a result of actively seeking feedback from customers and creating a company culture committed to growing and improving.
7. Ask for Help!
Get input from someone who can objectively help diagnose and put a plan in place to make your sales more predictable. This could be someone on your team or an outside voice. The point here is to act quickly!
These 7 strategies are powerful tools!
Having a healthy sales pipeline is a key leadership responsibility for every business owner.
Application:
How healthy is your sales pipeline?
Galatians 6:7 NLT is clear about “cause and effect” – we reap what we sow. What is God teaching you about the sales and marketing leadership of your business?
What changes do you need to make?
Who will help you be accountable?
