By now it is clear that we will never go back to business as usual anytime in the future. While initially the changes were seen as something that it will have to be endured for a short time, it is clear that we are in the cusp of learning new ways of working and we need fresh approaches to organisational strategy. For any business that relies on direct sales, it is time to update the sales channel for the world we are living now.
Discussed here are a few keys to selling more effectively through the epidemic and beyond
Sales at the centre of the strategy
What are the changes that the business has experienced during the lockdown and the restrictions?
Has the sales channel adapted to the changes to meet different priorities? Most strategy models ignore the sales function or pay little attention, focussed instead on markets, products, capabilities, capacities etc., This may have worked in a normal market, economy but in a difficult market, sales have to win business. It connects all your products & services to the market.
Give the sales it needs to succeed by clearly identifying the target segment detailing the reasons they will choose the company's offerings in preference to competition and being clear about what drives their decisions. The epidemic has narrowed and reduced market size. This requires a rethink not only what is being sold and how to sell it to increase margin, revenue or market share.
Leverage sales to discover and meet needs
Even though the market has narrowed down, there are new opportunities. The epidemic has caused lifestyle shifts that have created new markets and sales prospects.
Explore new areas that the business can address. It is an opportunity to learn about issues driving its market and factors that have a direct bearing on its product sales and build a strategy to capitalise and adapt the products.
Collect feedback from the sales channel to derive insights about the changing customer needs. They are on the front line and uniquely positioned to identify the customer requirements and what the competition is offering. This can completely change the company's strategy not only for driving revenue but also deciding on product changes and new product planning.
Improve sales experience
Many companies switched to video conferencing or phones for sales followups. But over the long term, this can be reworked to improve the sales experience - creating value and provide differentiation with customers and make the whole experience more compelling. One can consider new opportunities to help customers recognise issues and identify new opportunities. One could have subject matter experts on the conference, have support personnel to provide deeper experience. It can also make it easier to involve leaders to participate and provide a higher level of connections.
Design a sales experience to deliver value for a potential customer, that heps customer gain insights about the challenges and opportunities created.
The switch to remote work may result in efficiencies, improvements that can help improve customer outreach and create a new customer experience.
Leverage the physical environment while maintaining social distancing
The organisation would become more digitally savvy and discover more digital tools that will help in the virtual world. But with some proper planning, the physical premises can be leveraged to great effect during virtual meetings.
Companies dealing with products can ship samples, models or prototypes to prospects and followup on phone. Even small gestures like sending printed copies to help save local printing can help connect with the physical world.
The epidemic continues to be a challenge, restricting free movement to interact with prospects but it can provide unexpected opportunities to drive a better sales process with prospects and customers. With planning, imagination the sale strategy, experience and interactions can be strengthened irrespective of the constraints.
4 Ways to Reconfigure Your Sales Strategy During the Pandemic
by Scott Edinger HBR 202/10
October 20, 2020
Comments
Post a Comment