Success is not an overnight process. It comes in installments; some days, you get more, some days less. It’s the same with businesses. A thriving business is an outcome of proper planning, execution, and the confidence to close the sale. As we talk about, sales reps not only sell a product/service using a defined strategy. They put in their efforts and beliefs to generate leads and turn them into customers.
But do you know what happens when the sales-well dry up?
It results in the sales slump, which most reps blame on external factors like economy, products are uncompetitive, etc. It also results in a loss of confidence.
So, what can you do to bring your team out of a sales slump? One solution is to bring in a tool like Dynamics 365 Field Mapping. Let us see what the other ways to recover are.
- Examine your Goals
The sales failure is often the result of randomness rather than external factors. It’s not necessary that every strategy you plan is going to be a failure or even succeed. So, the first tip is to accept this fact and examine your goals.
Whatever is done is in the past. See, what were your targets before it. Where did you fail? What’s your lead count? How many do you need to generate? Where do you expect to reach? It can be 20 leads in a month or more.
To analyze your goals and understand your current status, a powerful dashboard with smart insights and reports would be a good option.
You will get a glimpse of sales prospects, follow-up leads, loss/won opportunities, and more. While thinking about implementing a dashboard, try Dynamics 365 Map.
- Diagnose the Slump
Unless you know the reasons your strategy failed, you won’t be able to plan. So, track your sales processes and metrics. Maybe something in the pitch is off, or leads are not qualified properly. It might be that your sales reps are having difficulty in closing sales. There are two ways you can tackle these problems.
- Figure out which process is not yielding profits.
- Talk to the leads and ask what made them abandon the product in the cart. You can also conduct surveys to get the answer out.
In addition to these, you should even identify the territories where strategy bounced. After all, poor territory potential is one of the reasons for the sales slump. Other includes:
- Lack of purpose and goals
- Poor management
- Excessive administrative responsibilities
- Poor time and territory management
- Inadequate product knowledge
- Unsatisfactory training
Diagnose your loophole and work on it. If it’s about territory management or excessive admin work, bring in Dynamics 365 Field Mapping tool. It will help you visualize your CRM data on maps, create and assign territories directly from CRM. Besides, auto-syncing will free up your team from manual tasks.
- Reconnect with your Plan
Do you know that problems don’t start from doing complicated work? They start by doing simple work slightly wrong. Therefore, when a slump occurs, don’t get taken aback. Start working from where you left. You might have planned to cover an XYZ area by the coming month. You couldn’t. That’s fine. Bring your sales team together and start working on it again.
Motivate your team. Join hands with your marketing team and re-strategize. Plan your team’s schedule according to your goals and targets.
- Work Smarter and Harder
How do you assign tasks? How do you work and track their activities?
If you’re going to say by checking up on them through calls and messages, please don’t!
You need to understand it’s a crucial phase for you. To recover completely, you need to implement different strategies and tools. You can’t go on with the traditional approaches.
See your team’s performance, track every rep’s activities. Analyze their working approaches and how much they can get done in the given timeline. Based on it, assign tasks.
Territories, you need to generate leads, assign those to reps that are good at it.
If a sales rep is working in an x location, make sure that the other tasks you assign them are in similar or nearby locations so that you can get more done in less time.
You can also share your team with optimized routes to save time. As I said, work smarter. Also, help them plan schedules. If possible, create their daily schedules and share it with them. Lastly, give them an effective tool that can streamline their operations and help improve productivity.
Repeat it all
You can’t recover from a sales slump if you don’t sell. So, implement these strategies and keep repeating it. You will be back on track soon. It also means you should go for a Dynamics 365 Map tool.
Sales slump is a result of internal flaws. And to recover, you need to implement new strategies, integrate new tools like Dynamics 365 map, and, lastly, motivate your team. Read more…