What will your sales team do without all those business travel expenses and all the calories they consume in coffee shops and at train stations on your account?
While out for my daily exercise the other day I realised I had spent most of the walk pondering whether sales techniques will need to change after lock down ends.
The world has changed very quickly, in some ways temporarily, but there is widespread hope and optimism that we won't go back to the old habits. Some things will have changed forever. Do you wonder how to adapt your sales team's behaviour for the short, medium and long term to ensure continued success?
Sales transformation isn't just about the good times.
Most companies' pipelines have dropped off a cliff, with prospects reigning in spending or themselves all furloughed. So rebuild your pipeline with better leads for when the world restarts. In the immediate future, redeploy those subsistence and travel expenses into a LinkedIn subscription for each salesperson; get them actively identifying and approaching the right prospects for your business. For many, me included, LinkedIn Premium is sufficient, but there are the Sales Navigator options for individuals, teams and enterprises. A well planned and executed outbound campaign using LinkedIn can secure a 30% response rate from decision makers, why wouldn't you want that?
Medium term you need to stand out amongst your competitors. Thousands of companies that survive the economic turmoil will be clamouring for limited spend by their target markets, so your message and proposition needs to be more compelling than anyone else's. It is my belief that prudent businesses will rebuild their cash reserves before releasing the spending floodgates, so this need to stand out will persist for a reasonable time.
Right now do you have a decent proposition? If not, review, review, review your proposition and USPs to make sure you stand a chance. Think in your buyer's shoes. Once you are confident there's still a reason for them to need what you offer, start to think about making it compelling: this should be about benefits to the customer and ideally return on investment. If you are training your sales team to routinely have ROI conversations with their prospects, you will stand out amongst the many competitors who don't, significantly aiding your closure rate.
In the long term, don't let new habits slip. Sales professionals, as distinct from sales execs, will continue to apply good techniques to help generate and win more sales. Make sure you manage them to make sure of it.
Don't forget to make clear to your team that after the world reopens, any pent up demand for 'coffees to catch up' must be matched with pipeline progression; you don't want to see expenses rocket without a return.