April 21, 2022

Winning Strategies for Growth Post COVID

The effect of the COVID19 pandemic has resulted in drastic changes in consumer behavior. The pandemic has also brought on many challenges for business and industries alike, which has resulted in varying responses and as a result, led to redefined sales strategies, channels and frameworks. The path to sustainable, inclusive growth lies in building resilience now.

The pandemic has also dramatically accelerated the dynamics of how work gets done between buyers and sellers. The process of finding new suppliers, building and fostering relationships with them, and choosing what and how to buy and reorder may not return to what it was before 2020. Despite a few irregularities, buyers have found tangible benefits in some changes brought by the lockdown and pandemic. Increased online interactions have resulted in higher competition, with buyers more willing to leave their suppliers for better deals and guarantees.

The competition also increased in the hiring sector, with the great resignation resulting in talent scarcity across the board. To stay relevant and gain leverage, sales leaders must stay ahead of the curve and consider these crucial decision-making points going forward.

Optimize Your Hybrid Selling System

The pandemic led to significant changes for sales leaders in every industry, primarily forcing everyone to learn to work from home. While in-person communication is making a comeback, not everyone is ready or willing to return to an in-person model. However, there are a few things you can do to build an active, hybrid selling strategy in order to maximize today’s opportunities while being dynamic enough to adapt to future changes. These design changes include revamping the customer journey, leveraging inbound marketing, and maximizing customer relationship data.

Revamping the customer journey includes having a solid value proposition, as well as raising the bar for anticipated objections. Offering discounts and promotions is no longer going to cut it.

Leverage inbound marketing with personalized, account-based marketing content. Create custom solutions to meet prospect's needs.

Maximize customer relationship data includes having the correct CRM system to effectively manage the ever changing data and keep up with pace of buying behavior.

Engage in Collaborative Sales

As sales have shifted from multichannel to omnichannel interactions, it is paramount that MQLs and SQLs align to help consolidate each department’s efforts, as they are unlikely to be proficient at managing all the channels individually.

The customer acquisition team must be redesigned to include sales development reps, marketing experts, and customer relationship professionals in order to provide an impactful customer acquisition strategy. Roles must be clearly defined to offer the best experience

If marketing and sales are not aligned, it can have a powerful, negative financial impact on the business and financial performance. Top-performing leaders rely on the strength and collaboration of multiple departments to acquire and retain prospects, and this can only happen if everyone is focused on better solutions in shorter time frames.

Invest in Training and Development

Product knowledge is crucial, even moreso than teaching sales techniques and new technologies, as prospects have become increasingly knowledgeable. For large companies with multiple product offerings, using accessible media such as videos and interactive platforms can help you train multiple SDRs on multiple products  more effectively.

It is also important to invest in sales process education to stay up to date with best practices. Not prioritizing this can cause your company to fall short to competitors.

Partnering with a sales training provider can adequate prioritization of training and selling and efficient upskill of SDRs to deliver the best sales techniques.

Shadowing is also effective in helping new hires get hands-on sales training. This can be especially helpful for new graduates who have no experience, as well as for overcoming anxiety and judgment that goes along with on-site sales situations. Shadowing can help instill confidence and growth into roles and responsibilities.

Demonstrate Dedication to Mental Health

Prioritizing employee mental health and well-being is imperative to get sustainable high-performance from your sales team. Creating a psychologically safe workplace and offering therapy through employee benefits are two ways to effectively contribute to the well-being of your team. However, leading by example is the most important gesture in creating a healthy culture in the workplace. This can be demonstrated through communicating mental health efforts at team meetings, sharing challenges, and leading with vulnerability.

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