As the sales manager or head, it is your job to identify why there is a dip in sales. There are numerous potential explanations for the fall in sales. One may be immediately noticeable, or you may have to go through all the possibilities until you discover the cause. Perhaps it’s the pressing need for a sales toolkit, or these five reasons are rearing their ugly head. Read more and learn how to manage and even resolve these concerns:
Senior Management Changes
If you’ve recently assumed the sales manager role and sales figures have gone down, don’t worry; it may not necessarily reflect your performance. Change in leadership can have a long-term effect on sales, so keep it from affecting your self-confidence. Make sure you are transparent about the modifications you are making and your expectations for the future to ensure a streamlined transition.
Low-Quality Compensation
Do you need to revise your existing compensation plan? Ensure it is easy to understand and properly incentivizes your salespeople to help your business reach its objectives. Ensure the plan is clear and straightforward, and reward employees for their efforts in achieving the company’s goals.
Horrible Marketing and Sales Alignment
If sales and marketing are working together, it can have a positive impact on sales. Have any recent modifications been made to the marketing team or strategy that might be causing a decrease in sales? Your sales team needs marketers to provide them with quality leads. Thus this could be an issue. It may be time to enlist a sales toolkit to synergize both teams or strategies.
Obsolete Selling Strategies or Styles
Some traditional sales methods are still effective, like the scarcity technique and badmouthing the competition, especially if there are valid concerns with their offerings. However, many of them are no longer relevant in today’s market. Cold calling and door-to-door sales are outdated and not likely to be successful.
Instead, it is recommended to focus on inbound selling, a more modern approach. This involves creating content tailored to the interests and needs of customers, as well as utilizing digital channels to reach potential buyers. Also, remember to push products and services. Sell solutions, press pain points, and present a feeling or a potentially met need.
Failure to Follow Up
Speaking of sales techniques that still work, rather than relying on outdated sales strategies, such as cold-calling, door-to-door sales, and similar techniques, it is more effective to utilize modern sales tactics, such as inbound selling. Inbound selling involves getting potential customers to come to you through content marketing, social media outreach, and other forms of digital marketing. This approach is much more likely to be successful than relying on older methods.
In Conclusion, Sales Is All about People
Selling products and services aren’t about the products and services. It’s always been about people—those selling for you and those you sell to. If your team isn’t motivated enough to sell or doesn’t have clear goals, nothing you pitch to customers will stick.
Conversely, customers won’t trust you if all you’re after is their hard-earned money. Show concern by increasing your sellers’ compensation and answering customers’ problems. You’ll slowly see sales pick up once you’ve adjusted your approach.
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