We can quibble about what to call it, or the severity today, but we have now officially posted of two negative GDP quarters in a row. The downturn may be soft, it may be brutal, but we are looking at some turbulent market forces affecting your quota and results.
As budget dollars dry up, every sales team in the country is about to see in striking detail the difference between their "A" players and those that will really struggle to keep up with quota.
What Are You Doing To Be Proactive, And Get Ahead Of It?
Recession and economic downturn provides your business with the opportunity to think critically about your recession strategy and how to prepare to weather the storm and come out the other side stronger. This doesn't happen by accident, recession winners build a robust strategy, invest strategically, and get help when they need it.
There was good article in Harvard Business Review recently that talks about winning during a downturn: article. The key topics are:
1. Study Success Cases
Sales Result has been supporting companies through good times and bad since the early 2000s, and we know how to win in down markets; we know the success cases because we helped create many of them. We were there for the end of the dot-com bubble, the sub-prime mortgage downturn, COVID uncertainty; now we're here for what's next.
As many companies begin to tighten the purse strings, which makes sense on many areas, don't let sales lose a step. It is much easier to sell your way out of a recession than save your way out of it.
Digital transformation can reduce costs - we've worked with digital transformation experts and are happy to provide introductions to great partners should that fit into your winning strategy.
The companies that use economic uncertainty to their advantage over competitors, and focus on the right investments, come out the other side not just surviving, but thriving.
What Do You Need to Thrive?
As the status quo changes, are you willing to change? There's an old saying "If you're laying off sales people, you've got bigger problems." Better sales is the saving grace when times are hard. To get started, you need:
Investing in your sales team's training and processes to deliver the right messaging to the market during this economic time is a great way to keep sales up through uncertainty.
The time to move is now, before we start feeling more of the market pain and you start missing your numbers.
SRi offers a free consultation to discuss your challenges, and outline a winning strategy with no commitment. Outsell this recession, and call us today - we're here to be a partner through whatever the market throws our way.