Now that we’re closing in on Q4 ‘17, it’s time to sit down and reflect on how your B2B sales department has performed thus far. Are your reps meeting their quotas, or are they falling short in their efforts to drive business growth?
Oftentimes, sales teams get caught up in a pattern of complacency, which can be detrimental to the entire organization. When this goes on long enough, it can be difficult to reverse the negative momentum. Sales teams, in other words, can get used to losing.
How To Break Out Of B2B Sales Slumps
The most important thing to realize in B2B sales is that when you’re in a slump, it’s possible to break out of it. Management simply needs to assess the department’s processes, and make strategic adjustments in areas that are in need of improvement. Managers must take a holistic approach to driving B2B sales growth in lieu of reactive measures like raising quotas and reprimanding agents for not working hard enough.
Let’s take a look at three common pain points that tend to hold back sales teams from success and ways to address them:
We have all heard about the “ABCs” of sales, or the rule that says sales reps should “always be closing.” This may sound great, but in reality sales teams only spend about 1/3 of the time actually closing deals. The rest of their time is usually spent performing manual labor on tasks like updating client sheets, entering data, compiling reports, and creating marketing materials. Many of these tasks can be automated, streamlining the entire B2B sales process and putting agents in a better position to close more deals.
A Lack Of Data
Many businesses today are compiling huge customer databases, but they aren’t fully-utilizing the information. Instead, the data is sitting in spreadsheets — and mostly going unused. Data, however, is a crucial ingredient for driving B2B sales and so it’s vital to have a CRM system that can integrate with customer databases. Integrating a customer database with a CRM system has been proven to improve customer retention, generate more profits and lead to faster sales.
B2B sales have gotten harder over the last several years as customers are more informed and empowered than ever. They have a wealth of information at their fingertips through Google and they are not afraid to shop around for better deals. For this reason, B2B sales teams need to make sure they are on-point with their marketing materials. Sales teams, for instance, need to regularly produce email content, articles, and sales documents. These documents also need to support periodic educational events like webinars which offer customers access to industry-related discussions. Each document should be planned out and distributed at the right time in the sales funnel in order to effectively persuade customers to take action.
As you address these and other common pain points in the B2B sales process, you are sure to find more ways to get back on track. It can help to remember that the simplest solution is usually the best. The trick is to find the simple solution that works for you and your business.