When the economy starts to slow down and the amount of leads coming in or the number of prospects signing up decreases, many companies look at ways to lower expenses. While it’s always smart to run a lean company, the smartest companies know that a downturn is the right time to increase spending on activities that have a greater return on investment. There are so many reasons why sales staff should improve their sales skills during a downturn, here are just a few of them.
Every Lead and 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.
Don’t Let Staff Get 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.
Sales Professionals Will Be Hungry to Learn
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.
Which type of company will you be?