The pandemic has led to the struggle and the instability of the economies as industries and businesses face new challenges. Traditionally, face to face meeting was the go-to solution for sales execution. But with the onset of coronavirus, there has been the need to rely on virtual tools for communication and conducting meetings and pitches of prospecting clients. In order to survive the uncertain time, businesses have had to adapt to new ways of maintaining sales and scaling new heights. While it might be challenging, the adaptation presents an even easier and faster way of creating a healthy sales pipeline. There are strategies that can be adapted by sales teams and businesses in an effort to stabilize the shaky economy. Below are some of the tips that can be adapted:
Strategize To Regain Momentum
With the stability brought about by the crisis, sales must be restrategized for conversion. This must keep in mind the new schedule and platforms of communication, the existing deals and levels, rerouting of supplies and delivery, the changes in pricing, and other managerial changes that have been adopted by the company. As companies embrace virtual dealings, the strategies adapted explain and define the best approaches to creating and maintaining engagement with customers and prospects putting into consideration the impacts of technological tools, platforms, and processes. This information should be used in the development of digital strategies that should guide the business on ways to maintain contact with customers and fill sales pipelines. The strategy should also be able to counter falloffs while seeking to better customer experience across the existing virtual platforms like the use of webinars, online discussions, and virtual community building.
Be Timely With Strategy Execution
The probabilities of prospects suffering from the impacts of the pandemic are high. Brands and businesses should spend time researching and strategizing on ways to reposition the brand as a solution to the shortcomings faced by the prospects. The new strategy should focus on ways to help prospects easily adapt to the changing situation while highlighting the key advantages of the company. This does not mean readjusting all your key selling points; rather, they just need to be rephrased to meet the relevance of time and situation. Some of the hardships prospects may be going through include:
- Disruption of businesses or loss of jobs
- Shifts in the style of work
- Shutdowns in supply chain
- Shifts in the cybersecurity protocols
Pitches Should Be Money Oriented
With coronavirus having destabilized financial channels, all deals are subjected to financial scrutiny to determine the justification of its necessity. The increase in financial scrutiny of the pitches leads to the need to prioritize the needs of the prospects in pricing as well as those who are sharing the information. This calls for a pitching strategy that is intentional, direct, and whose focus is on ROI. According to Lyssa Merwin, the vice president of LinkedIn, the promise of greater value is not enough to guarantee sales. The selling point is hard ROI which connects the brand to the needs and goals of the prospects. The whole point is to convince the prospects that they are saving more by avoiding some costs when buying the services or products.
Design Creative Sales Presentation Strategy
The need for social distance has created a professional world that advocates for online pitches and sales presentations. Companies are adjusting online sales processes to align with the new norm of virtual meet-ups. Most businesses followed the process of conducting discovery calls face-to-face meetings, but with the shift in the way of conducting business, the face-to-face meeting needs to be translated into a creative and appealing visual presentation. This involves being able to capture the attention of your prospects and delivering the deal in the best way they can’t refuse. While there is power in creating an appealing PowerPoint presentation that illustrates the value of your brand, innovation and creativity should be explored in other areas as a way of keeping the brand relevant. This can be achieved by:
- Conduction of virtual tours
- Conduction of in-depth demo especially for technical companies
- Having videos of products or services as used by customers can be helpful in presentations.
Regardless of how the situation turns out to be, don’t stop prospecting or making those sales count. With everyone experiencing financial setbacks, it is important for every company in every industry to adapt to the new norms and keep selling. Salespeople should keep the motivation alive by quickly shifting to performance management systems and strategies that are effective with the current times. The sales pipeline may not be promising now, but remember to keep the strategies aligned with the right target market while keeping communications open with prospects. These tips should help your brand in developing a commercial roadmap that will position your company for great wins when the time is right.