When the economy starts to slow down and the number of leads coming in drops and the number of prospects signing up decreases, many companies look at lower expenses.
It’s always wise to run a lean company. However, the most innovative companies know that a downturn is the right time to increase spending, particularly on activities with a greater return on the investment. In this episode of the Selling in Asia podcast, I share why training is more important during a downturn.
Also read:
- Creating A Sales Training Program
- How To Reinforce Sales Training In The Workplace To Maximise ROI
- Is VR Training in the Workplace The Future Of Upskilling Sales Teams?
#1. Every Lead & Sale COUNTS
When things are going well, companies are more likely to not notice lost prospects. When things aren’t going so well, every lead counts. Don’t waste precious leads on sales staff that are inexperienced or lack the skills to close sales. Instead invest in sales training from a reputable training provider so they are ready to handle and close everything that comes in.
#2. Don’t Allow Your Staff To Be Bored
If sales professionals start getting bored because of the lack of business coming in, they start to look at other ways to fill their time. This can distract them from necessary steps in the sales process. Instead, invite them to spend this new found time to explore new prospecting activities. Or start investing in prospecting activities you did previously before things got busy.
#3. Sales Professionals Are Hungry
With more free time on their hands and less commission in their pockets, sales professionals will be hungry to learn new sales techniques so they can increase sales. Feed their thirst for knowledge by investing in training. Training could be in the form of a sales workshop where they can brainstorm together how to increase business while learning new techniques. They could also learn new skills between prospects by enrolling in online sales training courses, attending live webinar training or reading books on sales. The best option is to do all 3 combined with regular sales meetings to review their progress.
Some companies see downturns as a time to cut staff, others see it as the right opportunity to fine tune sales process and increase closing ratios.
More About SOCO Sales Training
SOCO/ is an expert-led, award-winning sales training company. We’ve spent decades working with some of the most innovative and forward-thinking companies across Asia and the world.
Have SOCO train your team in the top sales skills needed to take on 2021 through either Virtual Instructor Led Training through video conferencing software or let your team learn new skills in their spare time using our popular e-learning platform – SOCO Academy.
Not sure which of the top sales training programs is right for you? Book an appointment with one of our program advisors who will be happy to build the right training plan for you.