5 Sales Strategies to Fuel Recovery and Revenue Growth
Step 1: Assess Your Sales Forecast
For an example of what you might discover by evaluating open opportunities with fresh eyes, consider global leader in business cloud communications Vonage. Vonage asked reps to speak with customers and update the status of each potential deal in the company’s CRM. Many were moving faster than expected — sometimes by as much as three months — because its customers needed a work-from-home solution immediately, and Vonage’s Unified Communications and Cloud Contact Center were the perfect solutions. "At Vonage, our unique approach to forecasting allows us to have a 360 view of each customer opportunity, empowering us to get insight on a particular opportunity and its timing," said Anthony Chapa, Senior Revenue Operations Leader at Vonage. "This process has allowed our sales and operations teams to maintain — and even increase — forecast accuracy, even during the past few months as we face the global health crisis.”
Step 2: Reevaluate Your Go-to-Market Strategy
Your customers’ behavior has fundamentally changed. Many sales teams must now connect with customers remotely, and demand for your products may wane with customers who have been hit hard economically. On the flip side, the products or services you offer may appeal to a new market you haven’t considered. Plus, customers’ attitudes toward sellers are shifting. In a recent survey, customers rated the number one most important quality of a salesperson as product expertise, not offering low prices.
Step 3: Optimize Your Sales Territories
Step 4: Upgrade Your Sales Motion
At a time when many companies have tightened their budgets, every prospect becomes important. Try these approaches to become a prospecting pro.
- Standardize your best practices. At Salesforce, our sales managers create customized, prebuilt activity sequences for their teams using High Velocity Sales. This way, managers can standardize their prospecting best practices, including when to email a prospect and when to call, and can even include suggestions for what to say, with call scripts and email templates.
- Leverage your entire organization. If someone at your company already has a relationship with a potential customer, bring them into the deal to help open doors. With more sales reps now working remotely, you can broaden the way you deploy and hire salespeople. For example, remote work is allowing many companies to put their top sellers on big opportunities they couldn’t have in the past, due to travel expense and time.
- Experiment with social selling. Social connections can craft the basis for a meaningful relationship. Social selling is a lead-generation technique where salespeople directly interact with their prospects on social media platforms. Consider adding social selling to the mix, since your sales teams can’t attend as many in-person networking events as they used to.
- Prospect within your current contacts and accounts. Your current network, including customers, might be your best opportunity for cross-selling and upselling. But follow selling expert Tiffani Bova’s advice: “What I don’t recommend is mass emailing every contact in your database without any personalization, value, or insight. Instead, rally around your customers. Go back to your existing customers and sell more of what you’ve already sold to them. Come up with creative ways to connect.”
The Path to Insight Selling
Step 5: Measure and Readjust
Pilar Schenk, Vice President of Global Sales Operations, McAfee