Sales funks or droughts are an unfortunate reality that businesses in every sector will have to face.
The longer you’re in business, the more unavoidable they become. Shifts to your industry, your market and your customers’ buying behavior can be hard to predict. These changes often happen without warning. You’ve done nothing wrong, but your sales funnel has still dried up.
The focus at that point isn’t about avoiding droughts, it’s about dealing with them the right way. You can survive and even unlock new levels of prosperity if you avoid doing these things.
1. Put All The Blame on Your Sales Team
This is no time to play the blame game. You can’t simply haul your sales team into the boardroom and tell them that they’re letting you down. The problem could easily be that you’re letting them down.
Maybe it’s time to invest in them, instead of blaming them. Consider hiring a firm that offers sales effectiveness training. Bringing in a company like 360leads.com can help you get the most from your existing sales staff, without having to let people go or bringing in a new team lead.
2. Buy a Spammy Email List
There are lots of ways to unlock new leads and find new customers; none of which require buying a cheap and spammy email list.
Don’t get us wrong, email marketing can hold a massive return-on-investment and lead to a number of new sales opportunities and repeat business. But that typically involves targeting people who have already voluntarily given you their email address. They could be existing customers or people who signed up for your newsletter.
You do not want to just start shotgun blasting to an email list of people. Your brand name and your reputation are far too valuable. If someone puts your email in their spam folder, they will put your company in the same folder in their brain.
3. Start Selling to Anyone
This is the perfect time to rethink your target market, your ideal customer, or your buyer personas. This is not the time to throw them out and start selling to anyone and everyone.
Yes, this could lead to quick sales. However, if these contacts aren’t really in your target market, these sales will actually cost you a lot more over the long run in churn rate and cancelations.
4. Stop Investing in Marketing
During these times of struggle, a lot of people will say they can’t afford to spend any money on marketing right now. The truth is that they actually can’t afford not to spend money on marketing right now.
You don’t have to buy a super bowl ad. You can invest in low-cost/high-reach marketing tactics. This may include targeting your email list, or your existing social media network, with a new sale or promotion.
The key to all of the points we’ve explored today is to be strategic, without being desperate. React, but don’t panic.
If you overreact and do something too drastic, your sales drought could stretch out much longer than necessary, or even close the business forever.
Anticipate tough times and create a plan. Remember, failing to prepare is preparing to fail!