To help you get ahead, we’ve outlined the top sales tactics to thrive in economically difficult times.
You need to think outside the box. There’s a fine line between creativity and wasting resources. Yet, staying afloat during economic challenges can drain funds and much-needed energy. So, it’s time to work smarter.
Getting ahead of the competition means devising innovative techniques that meet and exceed customer expectations. You need to take risks, and use unconventional methodologies and approaches – get the first mover’s advantage if you want to thrive. Ultimately, businesses need to wow leads more than the world around them shocks.
Sell value, not discount
As consumers’ spending habits become more cautious, businesses must focus on the value of their products. It’s not enough just to put the features in front of customers – you need to understand your target market’s wants and needs, their pain points, and the implications of not making changes. How can your product or service help them? Conveying its relevant value will better entice them to consider and commit.
And don’t make the mistake of offering discounts too readily. This puts your business in a vulnerable place; it devalues your offer, and conditions the buyer to expect such discounts. Instead, position yourself as a necessity for the customer, and highlight that your product or service is worth the investment. Introduce variables other than price to heighten value and dependency.
Start social selling
For further insights into your target market’s mindset, you need to take social selling to the next level. With the digital world dominating our lives more and more, it’s no surprise that sales teams have similarly shifted their strategies online.
Through digital marketing and social listening, businesses can better connect with their customers to understand what makes them tick. And you can place your brand under your audience's nose with targeted ads.
Plus, it provides opportunities to share and post relevant material, meaning increased brand exposure. Answer relevant questions and demonstrate your industry expertise with newer tools like the LinkedIn newsletter feature.
Improve the customer experience
Falling short with an unsatisfactory customer experience is the last thing a business wants – especially in the current challenging climate. But what does this look like in 2023?
Your sales team lays the foundations for an effective customer success strategy. They must go beyond simply selling to actively engage target audiences with your brand.
Putting a foot wrong can ruin customer loyalty. Up to 32% of customers walk away from a brand they love after just one negative experience. So businesses must consider a much more holistic sales approach, especially for B2Bs. Try pushing beyond the point of sale, and show your customers that you genuinely care about their success. Remember, it’s not all about your product or service – it’s about how your product or service can help customers be the best they can be.
Upskill your sales team
When facing financial anxieties, your instinct may be to cut costs and streamline processes. Yet, providing your sales team with relevant tools and knowledge during a turbulent economic climate is vital.
As things stand, the recession isn’t going anywhere anytime soon. Therefore, businesses need to adapt and work smarter to come out the other side unscathed. By upskilling your sales team, you’ll find ways to thrive despite economic challenges.
Level up with BMS Progress
The BMS Level 4 Sales Executive Apprenticeship equips decision makers with the skills and knowledge to take their sales team to new heights, making 2023 as successful as possible.
BMS Progress works with organisations across the UK to further workforce development. To discuss training for your team, get in touch with us today.