As uncertainty sets in the economy, maintaining profitability ratios and increasing sales has never been more important.
This decade is showing signs of becoming one of the most challenging landscapes to grow a business as the pressure mounts on sales teams to operate as the lifeblood of organizations. Often the unsung heroes of the tech industry, the B2B sales teams and the revenue they generate are even more important in times of economic instability.
Still, projects and suppliers are under even tighter scrutiny, with proof-of-concepts installments most likely to get the axe. So how do sales teams make compelling arguments why their product or service deserves today’s pruned corporate IT budgets?
To adapt, we see sales professionals becoming more aware of budgets and their relationship with customers than quick sales. Sellers are more knowledgeable about their solution than ever before and are more productive. A lot is changing and moving fast, but that doesn’t mean sales teams should shy away from the basics.
Sell with a purpose
By focusing on ROI, sales reps can help customers seize this opportunity to reduce their tech stack to the tools that are essential to the business.
Most companies are trying to stretch their dollars further. At the same time, they have to deal with a relatively tight labor market and high staff turnover. Sellers must respond to this reality by putting value at the center. That means emphasizing how their products and services will help companies reduce costs and increase productivity.
For example, reps can share how their technology increases the capacity of existing teams in a hybrid environment without adding new costs. Or they can emphasize that more technology is not always better technology and even refer to their own use case as a more personal example. In fact, most sales leaders say too many virtual sales tools have had a negative impact on their own teams.
By focusing on return on investment, sales reps can help customers seize this opportunity to reduce their tech stack to the tools that are essential to the business.
There’s also a new trend where customers are putting deals on hold at the last minute or asking for additional team members. To avoid this hurdle, sales professionals bring all stakeholders around the table from the beginning of the cycle. Here comes the basics of creating a map of all the individuals in an organization who need to sign a deal and make sure the value of their product is clear to everyone in that network. By planning ahead, you reduce the risk of frustrating delays at the finish line.