The Slowdown of sales and the downturn in business is a foreseeable chapter in every industry. In sales parlance, it is referred to as sales slump. Drifting into a sales slump is an intrinsic part of the sales journey, it can befall to any salesperson.
Sales slump comes along with professional perils for the salespersons. The biggest insecurity is loss of confidence. The longer the slump period goes, the more your aplomb can be shaken. It will have repercussions on the bottom line of the organisation and the earnings of the sales rep.
A Salesperson should exhibit equanimity and composure whilst experiencing a sales slump. It is not the end of the world; you have not lost the ability to sell.
We shall discuss few time tested methods to come out of the sales slump.
Ascertain If It Is Slump
Ascertain whether the sales decline is actually the sales slump or not. Usually immediate after a period of exceptional sales there will be downswing. Such temporary indications are not to be deemed as actual sales meltdown. In such cases, there is barely anything in control of the salespersons.
Categorize The Slump Type
Predominantly it is very crucial to establish, whether the slump is akin to industry, market or individual. the approach for different sales slump will be distinct. Each type has to be handled in a distinctive way.
Managers have to endeavor that the sales slumps do not slide, go very deep and last very long. The faster you can stop the downward slide of the slump, it will be more advantageous for the organisation.
Diagnose The Sales Slump
Determine the exact reasons for the sales slump. It can be the pattern in which the salesperson engages and manoeuvres the sales. It can be a blemish in your pitch, it can be frailty in prospecting. Scrutinize at which stage in the sales process the lead goes cold. Enquire directly with the lost leads, reasons to refrain from buying. Based on the well-founded information garnered, the remedial action can be taken.
Analysis and evaluate the causation of the slump and detriment caused. Ponder the remedial steps to resolve the issues.
Diagnose The Sales Process
Synchronise the sales process and activities of the salesperson. On closely analyzing, you can determine, whether the sales guys are following the exact process of the sales process. In case if they are bypassing and overlooking any of the procedures. Maybe these are intensifying and feigning as the bottleneck of the individual salesperson.
Focus on training and hand-holding to improve the situation.
Turn Over A New Leaf
Sometimes starting the process afresh from the beginning with a different procedure can help in putting the sales back in track. Commencing with tabula rasa can allow you to focus on doing the little things right. Sometimes taking it step-by-step is enough to get you going in the right direction.
Focus on what you do best.
As a standard practice, when things are not going right, it's natural to focus on the weakest area and try to correct it. Alternatively, identify what your sales team does best and encourage you to do more. A sales slump is a time to focus on what you do best, not your weaknesses.
Motivation and Networking
Interacting with other people in a positive way can help turn things in a positive direction. Read the great sales books, that can motivate you and just offer you a few different ideas on how to approach things. Hoping a sales slump will just go away on its own is not realistic.
Saviour when the sales slump
Normally a salesperson equipped with right mobile CRM will rarely drift into a sales slump. Toolyt, right from the beginning can assist you in building a solid sales pipeline and scientific customer engagement. This preemptive sales approach acts as a bulwark against the sales slump.
Toolyt will ensure that the sales team stick to the defined sales process. This user-friendly mobile app is always with you when you need it most.
Toolyt is an extension of a CRM system suitable for any industry. Intrinsic alerts and reports to the Management will give the prevision of the industry, happenings, and preparedness for better sales strategy. It can be integrated with any existing system you are using at present.
Toolyt is used by the World's leading firms across 20+ countries. It gives a divine meaning to the sales team, it is not just sending mails and messages, it is far beyond that. Being a part of Toolyt is the first step towards success.