Every business will experience periods when sales are slow and revenue is down, that’s just a given. When it happens, you have to diagnose the issues and make immediate changes to be able to maintain your team’s sales goals and increase revenue. How quickly you move and which actions you take will make all the difference in restoring success and creating new conversions.
Actions to Take to Increase Sales Conversions
How exactly do you do it? The following are some steps that you can take to get your sales back on solid ground.
Identify the Underlying Causes
When your team is struggling to make sales, it’s natural to simply implement the ’’everyone needs to work harder’’ approach. However, just because sales are down, it doesn’t necessarily mean that your team is slacking. Instead of just buckling down, you need to identify the root cause of the dip in sales.
Work together with your team, looking at all of the data available to you, including website analytics, customer data, churn reports, and anything that is going to shed light on your challenges. Slow sales could be related to any one (or more) of many factors. Is it an economic issue? Has something external to your company caused the shift in sales? Do current trends indicate what is going on?
Or is the problem an internal issue? Perhaps your marketing isn’t performing well, or a change in your product has not fared well with customers. Maybe your team hasn’t been provided with the right tools to keep up with their customers. If you use a customer relationship management tool, it may need to customized. In fact, according to InsightSquared, if you are using your ’’customer relationship management (CRM) software correctly, it can be an incredibly useful tool for sales reps and managers. But if you haven’t customized your CRM or don’t follow best practices, you’re wasting a powerful tool.’’
Once you’ve determined the cause, you can move on to the next step and come up with a plan.
Have a Strategy
Your next plan of attack is just that ’ a plan of attack. You have to come up with a plan to correct the underlying causes of your sales slump. This is a time for collaboration. Your team knows what the obstacles they face are, and they will likely be able to help forge a plan to fix them. Keep in mind, implementing your strategy will not change your course overnight.
If we are going to effect change, we cannot simply flip a switch and expect it to happen. You need to clear your mind and dedicate yourself to changing direction in a planned and systemic manner. – Four Key Steps to Fixing Declining Sales, CRMSearch.com
Appeal to Your Customers
Whether your underlying issues are internal or external, or the strategy you are implementing relates to how your company interacts with prospects, when sales are down it’s the perfect time to reconnect with customers. Here are a few ways to do that:
- Remarket your current customers. Most customers don’t buy after the first interaction. So, you need to cater to them with your marketing so they will take another look. Use video and images to up your game.
- Create urgency. When you reach out to customers, whether on your website, social media, or through email messaging, create urgency with limited time offers, special discounts, or pop-up deals.
- Clean up your site. A revamp of your website to remove distractions and appeal to your demographic can go a long way to reaching customers. Make it as easy as possible to navigate and buy your products.
- Improve customer trust. Work to improve your trustworthiness with customers. Be authentic and make your content genuine to make sure that your customers know you stand by your company and your products.
Pulling your company and your sales team out of a period of slow sales doesn’t have to be difficult. In fact, it can be a worthwhile situation ’ bringing your team together to brainstorm strategies, customizing your CRM for maximum optimization, and refreshing the ways you interact with your customers is always a meaningful endeavor.
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We built two consulting agency businesses from scratch using these techniques.