JUNE 3, 2020How To Accelerate Your Sales Revenue Right Now
Peter Strohkorb Accelerated Sales Funnel
The world around us has changed and keeps changing. The old rules no longer apply and new ones are being created daily. The same also applies to selling.
First a caveat: I do not have a crystal ball and I don't know what the future holds for us all, either. In this article I am merely offering my personal perspective for your consideration. You make up your own mind about whether and what may apply to your specific situation.
I hope there will be at least some valuable nuggets for you in this article.
Here we go. Let's make some observations.
Observation #1: There are three kinds of Businesses out there right now.
Segmenting the market today we can observe that there are three kinds of businesses out there right now:
The ones that had to shut down or, at least, are severely restricted in their trade. These include businesses in hospitality, events management, gyms, entertainment and anything that relied on people coming into close contact with each other. Many of these have either closed their doors entirely, have culled staff and/or have cut costs. Some have pivoted to survive, e.g. restaurants and cafes that now offer take-away only and retailers that have moved to eCommerce and online selling.
Businesses that are suddenly thriving and in high demand. These include organizations offering anything to do with remote collaboration, with working from home and/or cyber security. They are the lucky ones that suddenly found themselves in the right place at the right time. Ironically, their challenge now is to cope with the sudden influx of new demand.
Businesses that are still operating, but now find themselves in the middle of a sudden downturn in sales. They are the really interesting ones to me. How will they respond? Will they make the right decisions? Will they accept the need for sudden change? If so, how will they go about it?
Observation #2: Many Organizations are cutting Costs right now.
In my personal opinion, I think that cost cutting is absolutely appropriate at a time when top line revenue is shrinking and organizations have to tap into their reserves to keep the business going. However, as usual, marketing and lead generation are among the first items on the chopping block.
But is that the right strategy? Or, could it be a bit of a knee-jerk reaction?
But is that the right strategy? Or, could it be a bit of a knee-jerk reaction?
We saw the same behavior during the GFC, where marketing and advertising budgets were slashed just at a time when sales were slowing. I guess, psychologically speaking, it makes sense, but it still seems like an instinctive reaction to me.
I mean, wouldn't you want your sales revenue to continue to come in, and also build a sales pipeline in preparation for a post-crisis world?
Related Article: CFOs & CEOs: There Is An Alternative to Cost Cutting.
Observation #3: You still have Choices, but need to be open to Change
I am pointing out to my clients that there are two strategic points to consider:
1. Be Prepared
Be prepared for change, be prepared for the new normal. The fundamentals of selling still apply, but the way that you sell may well be different. Keep an open mind.
The fundamentals of selling still apply, but the way that you sell may well be different.
That means you have to be flexible, nimble and open to change. So, do not box yourself in by laying off your best people and by cutting down on capabilities that you may need again further down the track.
Be prudent in your actions and in your decisions.
2. Have a Plan
One day, the crisis will pass and your prospects and customers will want to buy from you again. Get ready for when that happens. Work now on building good rapport with your customers and with your ideal prospects, grow a sales pipeline now that you can lean on when the market opens up again.
Do not just hibernate right now.
Do not just hibernate right now. With the selling environment having changed, it is critical for you to urgently review your Sales Strategy and update your Sales Funnel.
What should such a plan look like?
With the selling environment having changed, it is critical for you to urgently review your Sales Strategy and update your Sales Funnel.
A Sales Funnel is really nothing more than your structured, proven and scalable sales process.
A Sales Funnel is really nothing more than your structured, proven and scalable sales process.
I have been thinking about this for while and have come to the conclusion that the traditional way we look at the sales funnel is
flawed, no longer applicable, nor effective.
In my opinion, we now need to dig a bit deeper and view the new sales funnel from a different perspective. We need to view it from the perspective of the Buyer, i.e. the customer.
Instead of thinking: "We have all these products. How can we sell them?", I suggest we reposition our perspective and ask: "We have all these Prospects. How can we help them to buy from us?"
Instead of thinking: "We have all these products. How can we sell them?", I suggest we reposition our perspective and ask: "We have all these Prospects. How can we help them to buy from us?"
So, what does the innovative, new and Buyer-focused Sales Funnel look like?
It combines the traditional marketing funnel and the sales funnel into one.
Also, it is aimed at the customers' perspective and experience, instead of focusing on an inward-looking set of process steps.
This may be a departure from what is taught at university. However, it really is a refinement of a very generic traditional perspective, adapted to today's B2B selling environment and updated to suit modern B2B buyers. What's more, it even holds up in the current crisis environment.
How do you get started? I have prepared a free document to help you out with that. You can use this on your own, or you can ask me to help you navigate the new normal.
Either way, if you'd like more information, and perhaps would like to now compare my new sales funnel to what you currently have in place, then download my free self-assessment Checklist here: https://peterstrohkorb.com/sales-acceleration
I am very confident that you will be very pleasantly surprised by what opportunities for improvement you will discover that are available to accelerate your sales funnel and grow your sales revenue.
Would you like us to talk about Your current Sales Funnel?
How do you get that mix right? How do you create maximum sales effectiveness and results in your Sales Funnel? How can you streamline and accelerate it?
How do you create maximum sales effectiveness and results in your Sales Funnel?
If you like, let's have a chat about your challenges and your opportunities, I'll be happy to invest my time and my expertise to help you out with yours. Your first consultation is always free.
I look forward to hearing from you.
Stay safe.
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About Peter
Peter Strohkorb is a highly experienced sales and marketing specialist and Smarketing expert in the B2B Technology and Services sector, an acclaimed Amazon book author, blogger, thought leader and influencer. He has helped many executives to achieve significant success in growing their sales revenue, raising their profile and increasing market share.
Contact Peter to explore what he can achieve with you and for you, too.
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email: pstrohkorb@peterstrohkorb.com
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I look forward to hearing from you. Stay safe.
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