What to do When Business is SLOW

Why is Business Slow Right Now?
Your sales department can be experiencing slow business for a variety of reasons. Some of these factors can be weathered through, and some require more inventive solutions. If you can predict the periods of slow business, you can prepare accordingly. However, even if you can’t predict when you’ll experience slow business, you can use the list below to help scale your sales process.

What do you do when business is slow?
It sounds counterproductive, but slow business can be a good thing for your team. When you’re experiencing slow business, it frees up your time to address weaknesses and focus on prospecting and connecting with potential leads. Here are several ways to innovate your strategy when business is slow:

Analyze your CRM-During periods of slow business, you can analyze the contacts in your CRM and examine the performance of your sales team.
Review your marketing and sales-If your marketing efforts are not helping you achieve your sales goals, it’s time to review your message and update it to improve your strategy and approach.

Focus on upselling and/or cross-selling- More than a quarter of sales professionals say existing customers took priority over finding new ones in 2022. This underlines a common truth in sales: a customer’s revenue potential doesn’t end at the initial point of sale.

Work on professional development-Professional development will help your reps grow, develop, and be more active, engaged, and productive in their roles. This can set your team up for long-term success and happiness and increased revenue.

Perform a competitive analysis-When business is slow, you can perform a sales competitive analysis so your salespeople can better position your product during their sales calls. A sales competitive analysis helps your reps learn how your product compares to competitors.

Brainstorm new products or services-Sales reps have the best pulse on what’s happening with customers. In their conversations, they organically uncover gaps in your services and offerings. During periods of slow business, utilize your sales reps and ask them to brainstorm ideas for your product team. What products or services are missing from your offerings? How can your product team improve your existing products?

Conduct customer reviews-During periods of slow business, spend time learning about your customers. Conduct customer interviews and reviews and re-engage with your audience. This can do two things: help your sales rep understand your buyer persona and help you collect valuable customer input.

Set goals-Sales reps typically operate on a monthly quota or sales goal. However, these aren’t the only goals they should have. During periods of slow business, develop other goals like adding incentives, increasing your prospecting, improving your follow-up, and getting more organized.

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