Website design By BotEap.comCSO Insights, in its World Class Sales Practices (2017), found that “win rates are falling further below the 50% mark.” When sales fall far short of expectations, many companies resort to poorly planned or executed damage control.

Website design By BotEap.comSales Consultants often witness one or more of the following reactions:

Website design By BotEap.com• Drastically reduce expenses to the point of paralyzing daily operations

Website design By BotEap.com• Replacement of sales manager/sales director

Website design By BotEap.com• Reduce the number of vendors. One company we know downsized the entire sales team and then expected branch managers to fill the additional role.

Website design By BotEap.com• Markdown products and services in the false belief that it will generate sales. Customers are skeptical of deep discounts because they feel there must be something wrong with this company’s products, or they infer that the vendor is in trouble and may not be around to support their product.

Website design By BotEap.com• ‘Fix the sales’ by sending salespeople to a sales training course or use the internal learning and development manager to facilitate a sales course.

Website design By BotEap.comIn all the cases we have come across, the above approaches have short-lived impact but are not sustainable.

Website design By BotEap.comThe results of these inappropriate tactics are:

Website design By BotEap.com• The end result looks better in the short term, because costs are drastically reduced

Website design By BotEap.com• Morale drops to an all-time low

Website design By BotEap.com• Good people start looking for alternative employment

Website design By BotEap.com• Employees feel cautious in what they say; and do the bare minimum to keep their jobs. In fact, activity levels often rise but productivity falls

Website design By BotEap.com• Creativity and innovation are replaced by risk aversion

Website design By BotEap.com• Competitors begin to increase their market share.

Website design By BotEap.comIf you can relate to any of the above results, you will have experienced what happens when poor strategies are implemented.

Website design By BotEap.comThe real risk is that the company is left in a weaker position, opening itself up to acquisition by a stronger competitor or, frankly, going into receivership.

Website design By BotEap.comSo what is the answer?

Website design By BotEap.comFirst of all, don’t panic. Closely aligned with this priority is not oversimplifying what could be a complex problem by placing the blame solely on the sales team. The current situation happened for a reason or reasons, and to the CEOs who may be reading this, there were previous signs to act, but they were ignored. Once the situation becomes untenable, companies are forced to act, but in a pressured situation, decision-making can drive reactive survival behaviors like those listed above.

Website design By BotEap.comWhile each company’s situation will vary and may not necessarily require all of the action items below, they provide possible answers:

Website design By BotEap.com• Use this opportunity, as painful as it may be, as a learning experience. If it’s painful enough, you won’t make the same mistakes in the future.

Website design By BotEap.com• Take this opportunity to review the entire company. What are we doing well in all departments; Where can we operate most effectively and in doing so reduce costs?

Website design By BotEap.com• Objectively evaluate all areas of income generation. Where does most of the revenue come from and why? Can this be done better? Similarly, assess where the profits are coming from. Focus on those products first

Website design By BotEap.com• Are our vendors below or on par with the competition of competing vendors? What can we do to measurably improve and operate at a high level of sales proficiency? That will result in an increase in new and account-based sales.

Website design By BotEap.com• Review the business structure. Is there a better business model that we can use?

Website design By BotEap.com• Develop a new vision and business plan; improve processes and create buy-in by communicating and reinforcing the positive direction in which the company is headed, as well as why and how important it is for everyone to achieve it.

Website design By BotEap.comA key recommendation is to hire a trusted consulting firm with whom you can work collaboratively. Do they have a track record of being there ‘shoulder to shoulder’ when the going gets tough? Are they capable of working with all levels of management and employees?

Website design By BotEap.comUsing the right consultant will help keep the entire process on track, minimize disruption while maximizing improvement, and create the buy-in necessary for the organization’s future success.