The full impact of Covid-19 is not yet known. In some markets and industries, it is clear that customers are deferring or canceling planned purchases. In other cases, companies are booming. Maybe that’s your company. Nonetheless, it’s safe to say things are different now. You may be asking yourself, with the amount of change in the marketplace, should you change territories and goals to keep your team engaged and motivated? Or change them because your business has changed?
Much of the world has practically shut down; countless people have been laid-off, customers are no longer spending money, your sales have declined rapidly. This crisis happened so quickly that you are frozen like a deer in the headlights. You do not know what to do next. So, you do nothing, that is safe, right? You cannot make anything worse if you just stand still correct? Wrong. Here is what you can do instead of sitting on the sidelines during a crisis.
Let’s face it; acquiring new business is essential for any business. If you’re not doing it, your competitors are, and this means you’re losing market share. Right now, things are very uncertain, and chances are the strategy you put into place for sales growth this year has now been tossed out the window. So here are six tactics you can implement to generate revenue in these troubled times.
Crises, at any level, are disruptive. During times of intense disruption, like the COVID-19 pandemic we are experiencing, two things are essential: 1) Navigating the immediate financial risks to emerge with minimal damage: 2) Preparing for a post-crisis world that might look distinctly different from the world we live in right now. Many business owners are focusing too much on the now and not on their future.
Many companies, maybe even yourself, are experiencing a slow-down in sales and revenue. Some companies are thriving due to the need for their products and services during this time. Very few companies are ‘Business as Usual.’ Realities change week-by-week if not even more frequently. So, how does this affect your critical metrics in sales? What should you be measuring? How often?
Now everything has changed. Those customers have put everything new on a backburner. Instead, they are focused on the safety of their employees, whether they can get supplies and products to produce their own goods, and how they can interact with their customers. Their world has been shaken, and many have legitimate concerns about cash flow and how they can make payroll. Many are already laying off employees and making other budget cuts.
EOS includes a set of simple business tools and proven business processes that align and synchronize all the pieces of your business, to produce the results you want. Sounds great, right? Well, then how come most Sales departments struggle to adopt this method?
That is the real purpose of defining your differentiators – to build and hold value with your customers. If your company can define its differentiators so that they appeal to your customers, then that will strongly influence their final decision. Ultimately if you stand out with your customers, then close rates go up, and you maintain margins more effectively.
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