Sales teams can be chugging along when everything suddenly stops. It feels like no one is buying anything and you realize you have entered into the dreaded sales slump.
It is not uncommon for salespeople to go through a slump. Everyone who works in sales goes through a slump at some point. It can happen at any time, and it is important to know how to get out of it as soon as possible. Here are eight tips that will help end sales slumps.
Make sure each rep is in the right mindset to attack the sales slump.
“The most common reason behind a sales slump is a streak of lost deals” says Paul Lafayette, a technical writer at Writing populist and Fingerlakes1. This can cause a loss of confidence in abilities as well as lead to uncertainty.
Salespeople need to be able to sell themselves and their product with conviction. They won’t accomplish this by looking at lost sales as failures but by changing and reframing them into lessons learned – with a manager’s help. Refocusing the mind into a learning and growth mindset will help them pull out of the sales slump.
Decide what is working and what isn’t.
See if there are areas of a sales process that can be improved. Use metrics and analytics from your CRM and look what has been changing month-to-month. Have sales dropped due to taking less action?
Perhaps a rep needs to change their pitch or the way they are overseeing objections. Making changes to the process can help increase closing rate and end a slump.
Make a daily action plan.
Once you have looked at customers, competition and a rep’s process, it’s time to make a plan. This plan will be the roadmap to getting out of the slump. It should include what will be changed and how it will be changed. A daily action plan is a list of tasks that need to be completed on a given day. It helps a sales rep stay focused and motivated. Prioritize the action steps according to their importance and urgency. Finally, break down each task into smaller steps so they are easier to complete.
Be sure to set goals alongside making a daily action plan. Make sure goals are realistic, attainable and measurable. This will help you track progress and see if your reps are actually making any headway.
Learn who your customers are and what they really want.
This is an especially important step in the process because it helps a salesperson understand what is needed to get sales back on track. This is especially important for B2B businesses as customers are a bit harder to define. Targeting must strategic, and a business customer’s purchasing decision must be done in the best interest of everyone involved in the business. Start by asking these questions:
- What are the customers’ needs?
- What are the customers’ pain points?
- What are the customers’ goals?
- How can I help them achieve their goals?
Know and understand your sales pitch.
Reps need to know what they’re selling, why it’s better than the competition’s offering, and how it will benefit the customer. Customers can read any uncertainty, so make sure your salespeople are well-practiced and come across confident and sure of the product they are offering.
Use sales tracking software.
This is a great way to see where you are making sales and where you are not. By using sales tracking software, you can see patterns and target areas that need improvement. Sales tracking software is a great way to get out of a sales slump. It helps you track your sales, identify your strengths and weaknesses, and find the best time to make a sale.
Customers appreciate it when they know they’re being treated in an honest fashion. Being dishonest could damage your reputation in the long run. If reps overpromise, they will end up with dissatisfied customers who will go to the competition instead.
Recognize when it’s time to ask for help.
It’s OK to ask for help if it’s becoming overwhelming. “Talk to people who are in sales and see if they have any advice or techniques that you can try” says John Schaeffer, a business writer at State journal and Write my essay. Read books and articles on sales techniques. See if there is anything that you can learn from them.
If you have sales team members who are in a slump, don’t despair, there is light at the end of the tunnel. Help them be persistent and take action, and they will eventually get out of it.