31 Mar How to recover Sales after Coronavirus (COVID 19)
Coronavirus is a defining global health crisis of our time. Most businesses experience a fluctuation in sales at some point, like if some seasons are busier than others. However, in the case of Coronavirus (COVID 19), many businesses were unexpectedly blindsided. We are living in an unprecedented time, forcing us to reflect on our business and potentially make some difficult choices. As we continue to navigate through this challenge together, we want to focus on how to recover sales after Coronavirus.
“Setback has often cleared the way for greater prosperity” – Marcus Aurelius
Below, we have included strategies and considerations for the light at the end of the tunnel and what we can do now to foster a strong recovery:
Evaluate and Refine your Processes
We get so caught up in the day to day sometimes that there isn’t time to evaluate how effective the things we do are. Now is the time where we can reflect and develop structure in the foundation of our businesses. Meaning a combination of things; cutting unnecessary resources, developing new strategies and implementing new systems. One thing we recommend specific to sales is looking at different tools to make your team more efficient. Those without an organized way to track prospects (working in spreadsheets or expensive & over-built CRMs) should take time now to evaluate new solutions.
Simple CRM makes it possible to work remotely and organize, measure and track all your reps work – ultimately necessary for any high performing sales team today. Whatever it is, we can use this time to create and hone a process that works.
Be there for your Customers
During times like this, where business naturally declines, it is imperative to focus on doing things we can control, like developing relationships. Now is an excellent opportunity to ask customers for candid feedback. Maybe our offerings could be a bit more tailored to their needs. Seeking out feedback and being genuinely open to receiving it helps develop relationships. Efforts may not turn into business immediately, but down the road, it will open doors and prompt referrals. For example, At Wingmate, we are offering our customers a free trial on any one of our services to help them boost their businesses, which is something we have never done before.
Develop a New Strategy and Approach
Sometimes challenge forces us to think outside the box. With efforts and mindsets shifted, it is time to consider implementing new approaches and strategy. As a service company, here are some things you should consider:
- Economic shut down is only temporary. As businesses reopen and reorganize, they will have a new outlook and be looking for new providers. Acquiring these reopening businesses (opportunities) quickly and effectively with competitive rates will be essential! Use front line lead programs and customer referral programs across your organization to maximize everyone in your company. Please reach out if you’d like suggestions on specific campaigns to run.
- Consider outsourcing inside sales efforts (run a skeleton sales team). We recognize there may be cuts to sales teams. During these times, you need to maximize the sales resources you do have. Our Pipeline Management allows you to stay lean and low cost while utilizing the best inside salespeople in the industry.
- Up-selling certain products, recovering decreased service and adding new product lines (relevant to COVID-19) within existing accounts is advised. Incentivize your front line to recognize and relay these growth opportunities.
Stay Calm and Positive
While it is too easy to get swept up in crisis management, it is also important to still maintain a balance. We want to think and prepare, but we need not worry and remain as optimistic as possible. There is always a light at the end of the tunnel. Coronavirus will pass, and we will come back stronger as well as our businesses!
Over the next little while, many may need to wear multiple hats – now is the time for your people to come together and contribute the most. During times like this, it is essential to tap into the resources you have – like your front line employees and customers. At Wingmate, we have proven success doing this for various companies across North America!
Please reach out today if you’d like help with your sales strategy.