Was your 2019 a let-down? Did you start the year with high hopes and an energetic kick-off meeting, only to be wondering where things went wrong 11 months later?
There are literally thousands of things that can cause your sales to dip. If you want to take a deep dive into your sales process and sales team, you should consider bringing in a company like 360 Leads to audit your entire sales process.
Alternatively, you can ask yourself if any of these common issues are holding you back.
Your Top Performers are Disengaged or on Their Way Out
Do you rely too much on your best salespeople, without providing adequate rewards for them?
According to a recent survey, the two most popular reasons that people are thinking about quitting their jobs are:
- A lack of opportunity to advance
- A lack of money or compensation
Do your highest performers see an enticing next step or role that they can move into? And is your commission and bonus structure rewarding enough for them to feel validated?
If you’re not taking care of your best performers, their eyes will wander to other opportunities.
You’ve Lost Sight of Your Competitors
Maybe your competition had a fantastic year and has claimed a bigger chunk of the market. Not being aware of (or not reacting to) what your competitors are doing could be why you’ve seen a sales dip. It’s no longer about what you’re doing wrong, it’s more about what they’re doing right.
Have they recently released a product or service that makes them a better choice for would-be customers? Or, have they released a new offer or marketing campaign that is positioning them as the better choice?
Keep a close eye on your competition. Spy on them online and keep tabs on what types of campaigns they’re running. Monitoring their social media channels is free and easy. However, you can take things a step further with a tool that can see what keywords they’re optimizing or buying.
You’re Selling a Vitamin Instead of a Cure
Are a lot of your sales calls ending with “That’s really interesting. Why don’t you come back in 6-12 months and we’ll talk again?”
If your sales calls have a general lack of urgency, it’s possible you’re selling a vitamin instead of a cure. In other words, your product can help your customers’ pain points, instead of eliminating that pain.
A vitamin is something you can put off. But, a cure is something you need right now. Ask yourself how you can change your messaging to position your product to be the answer to your customers’ problems, not simply a solution.
There are countless reasons why your last year may not have lived up to expectations. Of course, there are always small and more granular issues. But how you’re motivating your top performers, how the competition has positioned themselves, and how your product is currently positioned in the marketplace are some of the top-level problems that you should start with.