Updated: Mar 21
The real rate limiter for SaaS businesses’ growth isn’t shipping software — it’s selling it - Techcrunch
Recessions are hard BUT they don't last forever. Remember that it's not only on the sales leadership to win during a recession.. It's a team effort. In this post we are covering what the Sales Leadership needs to do & what each seller should focus on. Working together will make you win.
FOR SALES LEADERSHIP: Here are 7 Must Have Elements that every B2B Sales org should have during a recession: 👇
During a recession, it is essential for sales teams to have a well-structured and strategic sales playbook.
Sales Enablement during a recession is more important than ever! - Forbes
A sales playbook is a document that outlines a company's sales process, including best practices, strategies, and tactics that the sales team can use to achieve their goals.
Define your target market: A recession can create significant changes in customer behavior and preferences. Identify your target market and understand their needs, pain points, and buying behavior during a recession. Summarize this in your Ideal Customer Profile Playbook and share it with your team.
Develop a value proposition: Clearly define your unique selling proposition and differentiate your product or service from competitors. Your value proposition should align with the current economic climate and address the pain points of your target market. During a recession you will need to focus on values that really move the needle. NOT nice to have.. MUST have values. Again... share it with your team
Build a sales process: Develop a sales process that aligns with your target market and value proposition. This process should be designed to reduce the sales cycle and maximize customer engagement.
Establish lead qualification criteria: Develop lead qualification criteria to ensure that your sales team is focusing on the right opportunities. This will help your team avoid wasting time on leads that are unlikely to close.
Train your team: Train your sales team to understand the sales process, value proposition, and lead qualification criteria. Provide them with the necessary tools and resources to help them achieve their goals. Here are some must have trainings that you NEED to provide:
Sales Motivation & Mindset
The Ideal Day of A Sales Development Rep
The Ideal Day of A Business Development Rep
Best Practices of Prospecting (Do efficient prospecting)
Email Automation: How to write Emails more effectively
Cold Calling Best Practices - Cold calling is not dead. how to do it in 2023
How to handle a Meeting in 2023 - The game has changed. It's more important than ever to focus on the right items. What tactic should you follow.
How to hold a Demo - Combine Discovery & Demo Meeting to save time (how to do that
How to do Value Selling: Sell Value NOT Features
Focus on customer success: During a recession, customers are more likely to be cautious with their spending. Therefore, it is crucial to prioritize customer success and provide them with a positive experience that they will remember.
Measure your success: Set clear goals and track your progress to ensure that you are on track to meet your sales targets. Continuously analyze and adjust your sales process based on the data you collect.
In summary, a well-structured sales playbook that focuses on the needs of your target market, value proposition, and sales process can help your sales development team survive a recession.
By prioritizing customer success, measuring your success, and continuously improving your sales process, your team can adapt to the challenges and succeed in a difficult economic climate.
BUT it's not only on the sales leadership.
FOR SDRs, BDRs, AEs, Sales Directors: Here Are 5 Things Sellers Need To Do During A Recession: 👇
During a recession, sellers need to take a proactive approach to ensure they are still able to contribute to the sales team and succeed in their role.
Stay informed: Keep up-to-date with industry news and market trends. This will help you understand how the recession is affecting your customers and their industries. Use this knowledge to tailor your sales approach and messaging.
Collaborate with your team: Junior sellers should work closely with their team members and managers to identify new opportunities and strategies for success during a recession. This could include brainstorming new value propositions, developing targeted marketing campaigns, or exploring new sales channels.
Focus on building relationships: During a recession, customers may be more cautious with their spending. Sellers should focus on building strong relationships with their customers to earn their trust and loyalty. This can lead to increased customer retention and word-of-mouth referrals.
Practice empathy: Junior sellers should be mindful of the challenges that their customers are facing during a recession. By practicing empathy and understanding their customers' pain points, sellers can better position themselves as a trusted advisor and problem solver.
Be adaptable: Recessions can create unexpected changes and challenges. Sellers should be flexible and adaptable, willing to adjust their sales strategies and approaches as needed to meet the needs of their customers.
In summary, sellers play a critical role in helping their team to succeed during a recession. By staying informed, collaborating with their team, building relationships, practicing empathy, and being adaptable, sellers can position themselves as valuable contributors to the rest of the team and help their company weather the economic storm.
Reach out to us if you need help with your Playbooks... It shouldn't take you months to build them. Do it in weeks to be prepared for an upcoming recession.