{"id":2479,"date":"2022-11-17T20:59:00","date_gmt":"2023-09-04T20:59:18","guid":{"rendered":"https:\/\/www.salesforce.com\/?p=2479"},"modified":"2023-10-20T16:42:42","modified_gmt":"2023-10-20T16:42:42","slug":"sales-economic-recession","status":"publish","type":"post","link":"https:\/\/www.salesforce.com\/eu\/blog\/sales-economic-recession\/","title":{"rendered":"8 Ways to Make Your Sales Org Recession Ready"},"content":{"rendered":"\n

An economic recession is likely on the way<\/b> \u2014 at least, that\u2019s what more than two-thirds of economists believe, according to a study by The Financial Times<\/a>. While some companies will likely wait to see how it shakes out, they may face budget cuts, profit losses, layoffs, and more. <\/p>\n\n\n\n

Fortunately, sales leaders can work to avoid these hardships by acting now.<\/p>\n\n\n\n

To ensure your company is recession-ready, develop a game plan for your sales organisation that focuses on investments in tools, training, and effective sales tactics.<\/b> These not only safeguard against the risks that come with a recession but also prepare organisations to seize unique opportunities that emerge during an economic downturn.<\/p>\n\n\n\n

\n\t
\n\n\t\t
\n\t\t\t

Turn your data into real-time customer magic.<\/span><\/h2>\n\t\t\t\t\t\t\t

Introducing Salesforce Genie, the first real-time CRM.<\/p>\n\t\t\t\n\t\t\t\n\t\t\t\t\t\t\t

\n\t\t\t\t\tLearn More<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\n\t\t
\n\t\t\t\"blog-offer-astro-c360\"\t\t<\/div>\n\t<\/div>\n\n\t\n\t<\/div>\n\n\n\n

Here are detailed tips to guard against recession chaos, curated by sales experts who\u2019ve been there:<\/p>\n\n\n\n

1. Refocus on delivering value, not hitting quotas <\/b><\/h2>\n\n\n\n

Talk of an impending recession likely has your customers worried. Instead of obsessing over quota attainment, find ways to deliver more value and support to your existing customer base so they know their investment is worthwhile \u2014 and won\u2019t disappear. <\/b><\/p>\n\n\n\n

Elyse Archer<\/a>, founder and CEO of She Sells, said this should start with the customer need: \u201cWhat can you change in your processes, systems, and delivery to serve them best now?\u201d <\/b>Additionally, simple tweaks to payment options and contract terms go a long way to addressing customers\u2019 budgetary concerns.<\/p>\n\n\n\n

Donald Kelly<\/a>, founder of The Sales Evangelist, suggested a few easy value wins: \u201cCan you adjust a three-year agreement to a one-year agreement? Can you offer a smaller [package] so [the customer] gets the help they need for now and let them add on later?\u201d<\/b><\/p>\n\n\n\n

\u201cIf you are seen as the organisation that can help others right now, you will get more business,\u201d said Kelly. \u201cBe seen as the company that\u2019s still there and ready to assist.\u201d<\/b><\/p>\n\n\n\n

2. Upskill and cross-train your teams<\/b><\/h2>\n\n\n\n

A resilient sales org can nimbly respond to market changes whenever they arise. But that\u2019s only possible when you invest in upskilling and cross-training to ensure your team can take on new roles or responsibilities that emerge as you adapt to shifting market dynamics. <\/b><\/p>\n\n\n\n

As Marcus Chan<\/a>, founder and CEO of Venli Consulting Group, urged, \u201cInvest in your teams\u2019 skills so they can effectively win regardless of the marketplace conditions.\u201d<\/b><\/p>\n\n\n\n

Fortunately, this training doesn\u2019t have to be a big lift. Juliette Evans, learning and development business partner for Close Brothers, uses Salesforce Trailhead<\/a> to support her teams\u2019 ongoing education. \u201cWe want to ensure our people have the skills and tools they need to be successful,\u201d explained Evans. \u201cWith myTrailhead, we can launch new training content in a couple of days.\u201d<\/b><\/p>\n\n\n\n

To ensure you\u2019re hitting on the right training topics as an economic recession approaches, identify sticking points in your sales engine. What stands in the way of achieving quota \u2014 slow ramp time, too many complex deals, long sales cycle, a roadblock in the sales process?<\/b> Use these insights to create training modules with instruction and quizzes, examples, or interactive activities to coach reps. <\/p>\n\n\n\n

Also, be sure this training is cross-functional. <\/b>For example, train your AEs to handle basic billing questions so customers don\u2019t have to jump from one department to another. Walk them through a standard billing conversation and empower them to answer key questions like, \u201cWhere can I see my bill and how can I pay it?\u201d Be sure you consolidate your sales data in one CRM<\/a> so they have access to critical billing information when customers reach out.<\/p>\n\n\n\n

3. Set clear performance expectations \u2014 and rise to meet them<\/b><\/h2>\n\n\n\n

One of the best things you can do as a leader is to set transparent expectations for your reps so they know what needs to happen for the company to succeed \u2014 and how they fit into that equation.<\/b> A lot of this comes back to fundamentals: Make sure core sales responsibilities are well defined.<\/p>\n\n\n\n

But it\u2019s not enough to tell someone what to do. You need to show them they can do it, especially as an economic recession nears. \u201cHelp set clear guidelines for performance and cultural expectations \u2014 then model them,\u201d <\/b>said Chan. \u201cLeaders must be present and lead from the front.\u201d<\/p>\n\n\n\n

For example, make it clear you want your reps to double down on pipeline maintenance, ongoing training, and team alignment. Then, take the lead by maintaining (and preparing for) weekly pipeline reviews to demonstrate accountability, making upskilling and training part of your own weekly to-dos,<\/b> and regularly syncing with other teams to show the importance of alignment. <\/p>\n\n\n\n

As you model these behaviours, make sure you give your reps what they need to succeed.<\/b> \u201cContinue to coach and support reps to maximise their performance and provide transparency on all org changes,\u201d urged Chan.<\/p>\n\n\n\n

4. Automate tasks to maximise efficiency<\/b><\/h2>\n\n\n\n

Automation can minimise risk, reduce human error, and help you concentrate on tasks that move the needle.<\/b> Sales leaders like Belal Batrawy<\/a>, head of GTM (Go To Market) at GTM Buddy, implement tech that helps reps stay focused on high-impact selling activities instead of manual tasks. <\/p>\n\n\n\n

\u201cWe\u2019re investing in automation \u2014 we\u2019re investing in anything that allows us to automate steps in the marketing and sales funnel to drive better outcomes,\u201d <\/b>said Batrawy. <\/p>\n\n\n\n

When it comes to being economic recession-ready, automation \u2014 like the workflows, scheduled messages, and automatic record updates of modern CRMs \u2014 can help you scale sales efforts without hiring more reps. <\/b><\/p>\n\n\n\n

It\u2019s important that whatever automation tools you use, they\u2019re accessible on the go and available to the entire team. If you don\u2019t already have one, consider rolling out a real-time messaging tool like Slack<\/a> that can integrate with your CRM so your reps can make deal changes, schedule messages to team members, and interface with customers remotely \u2014 either in work-from-home environments or out in the field.<\/b><\/p>\n\n\n\n

5. Don\u2019t forget the fundamentals<\/b><\/h2>\n\n\n\n

If an economic recession does hit, it might be tempting to take immediate, drastic action \u2014 whether that\u2019s adjusting your quotas or overhauling your sales processes. But drastic action isn\u2019t always the best way forward. In fact, the best cure for a new problem is often revisiting what made your company so successful in the first place. <\/b><\/p>\n\n\n\n

\u201cThe best thing a sales org can do [during changes like a recession] is revisit their focus and fundamentals, like defining your ideal customer profile, target personas, territories, verticals, etc.,\u201d <\/b>said Batrawy. <\/p>\n\n\n\n

Re-training sales reps on the art of the sales call<\/a> and consultative selling, or returning to old, but effective, sales plays<\/a> can also be good strategies to ensure your team closes confidently and efficiently<\/b>, regardless of changes in the market. Look at your data to identify call scripts, email templates, and other tactics that have worked well in the past and take the opportunity to retest them.<\/p>\n\n\n\n

\u201cI\u2019ve been through the ups and downs of our economy over the years. If there is a recession ahead \u2026 it will be about going back to basics,\u201d echoed Lori Richardson<\/a>, president of Women Sales Pros and CEO of Score More Sales. \u201cFocus on the jobs to be done, and keep the noise out.\u201d <\/b><\/p>\n\n\n\n

6. Focus on rep support and wellbeing<\/b><\/h2>\n\n\n\n

Loyalty and morale can be stretched thin in uncertain times.<\/b> That\u2019s why Richardson encourages sales leaders to focus on supporting and uplifting employees. Sales reps will go where they are celebrated, not just tolerated, and could leave if they don\u2019t feel heard or empowered, she said. <\/p>\n\n\n\n

Offer office hours for reps to drop in or schedule a call to discuss concerns. Give your reps time to rest and recharge following end-of-quarter sprints. If you don\u2019t have the budget for big incentives, outings, or team dinners, find creative ways to celebrate wins, like kudo boards or handwritten congratulations. <\/b>Little acknowledgements can go a long way to boosting morale.<\/p>\n\n\n

\n
\n

If there is a recession ahead \u2026 it will be about going back to basics. Focus on the jobs to be done, and keep the noise out.<\/p>\nLori Richardson<\/cite><\/blockquote>\nPresident of Women Sales Pros and CEO of Score More Sales<\/span>\n