Ultimate Business Development Strategy Playbook For Professional Services in IT
In this blog post, I created a full blown strategy playbook for sales and business development with the idea of market domination. Let's dive in.
For business development tactics post pandemic, SaaS businesses famously entangled in contrast with marketing traditional products and services. With the finish of the Coronavirus Pandemic no place in sight, SaaS organizations end up in a particular situation to enable different organizations to keep on working during this remarkable health emergency.
Reset your price
Price is a pain point for a significant number of your clients, so high direct expenses are probably not going to swing with numerous organizations. However, If you can rotate into the product as-an administration plan of action, presently’ s an ideal opportunity to do it.
SaaS products — cloud-based services — are more likely to gain traction due to the lower, reasonable expenses. What’s more, it’s a success win circumstance because the SaaS reset price model known to be more robust to economic downturns.
If your organization has created associations with corresponding brands, presently is an incredible time for a co-marketing campaign. By co-marketing your services with the services of a complimentary brand, you are expanding the estimation of your proposal to your objective market.
Co-marketing permits the two brands to use each other’s crowd and builds the possibility to arrive at clients you might not have previously. By collaborating with complementary brands and making eye-getting content, you make sure to create new leads cost-effectively.
Offer Free Product Trials
The money related limitations that went with the spread of this virus has left numerous business owners with dry pockets. Providing possible customers with a free item introductory is an incredible method to show your organization’s incentive to their business while assisting with supporting their business during a pandemic when clients sign on and see how valuable your services are, the probability of information exchange increments exponentially.
Advertising is consistently about gathering people’s needs, and that is a higher priority than at any other time during an emergency when people’s needs change. If you don’t refresh your item system to consider the coronavirus, at that point, your outcomes are likely going to take a plunge, and your audience will be the neutral best-case scenario.
So that means delaying any Saas marketing strategies that focus on products that do not apply to your audience during a pandemic and concentrate on time-delicate material. Is it safe to say that you were going to dispatch a crusade focusing on media outlets? Set it aside for later. Have programming that makes it simpler for organizations to convey while working remotely? That is your new core interest.
Have you at any point looked amazon for a thing and abruptly promotions spring up for said thing on practically any website page you surf to? It is the advantage of retargeting. Retargeting helps increment changes through reconnecting past site guests.
This SaaS business strategy enables likely clients to acquaint themselves with your image, inspiring an expansion in trust and believability. SaaS supergiant HubSpot offers retargeting services through their AdRoll mix, just as numerous other respectable organizations expertly discovered using a straightforward google search!
How to Build a Business Development Strategy in Crisis
Crises can pose a significant threat to our person, mind reputation, and more. Like humans, businesses also face dilemmas during their existence, and it is imperative that both humans and companies effectively manage those.
Crisis founds to an unexpected, unplanned situation or somewhat threat that quickly dawns upon from a business out of nowhere. It means an event that threatens the very stability of a company. The process by which such events or warnings are effectively managed and distributed is known as Crisis Management.
What is the Business Crisis?
A crisis means a situation where time is short, and an effective decision must be taken immediately. The crisis preserves a sense of a lack of control throughout the business worsening the whole situation.
Thus business management needs a business development strategy to be rapid and active with the required flexibility to the crisis management plans made to meet further shocks. It needs the strength to begin the business development of an awkward situation by motivating and motivating the employees.
A crisis can be risky and may even fully knock down the business. From a SaaS business perspective, a crisis normally affects sales and business reputation. A very recent example is the battery issue of Samsung Galaxy Note 7, wherein the batteries started exploding while in use.
Business Development Crisis Current Example
Here is another prominent example of a business crisis: COVID-19.
Here are seven important steps that will help you build a safe crisis management strategy.
Identify your crucial spokesperson and brief them on what’s happening as well as how your brand is going to move forward. The point here is to promptly alleviate any internal fears or matters in the workforce and follow employees with any external messaging and orders.
Now that you have determined what risks could impact your business development and how to begin identifying which actions will help your company respond effectively to each crisis scenario. Think about the steps required to resolve a given crisis, what business strategy would be necessary, and how employees can help.
A crisis strategy for a product recall may need IT and logistics to decide how to fix the problem. At the same time, customer service, sales, and public relations work collectively to answer customer questions and maintain the company’s good position.
Build The Plan
Once you’ve determined an active contingency for each potential crisis, flesh out the plans with relevant stakeholders.
Essential workers, such as department heads, can give insight into possible resources and potential complications.
For specific crisis situations, you may also require input from outside parties, such as contractors and partners that work similarly with your business. As you work your way through the business development strategy, keep in mind any relevant regulatory requirements, and determine how you will continue to meet them, even during a crisis.
Technology & Information Management
I can’t think of a single business sector these days that doesn’t heavily rely on information systems and technology. A technology and information management strategy should consider what technology, methods, and data are required to drive business performance.
Whether you run an enormous corporation ready to implement AI, robotics, and predictive analytics or a tiny one that just needs to know how long people stay on your website, information management is here to stay. It should be a part of your crucial business strategies.
Now that you have a thorough understanding of the impact this crisis can have on your company, you should have a clearer idea of how to position your corporate stance accordingly.
Your analysis in recognizing any potential impact will ensure alignment during this process. Adjustment, especially from a PR perspective, is necessary to avoid inconsistencies within your corporate response that could further damage your reputation or appear dishonest. All public outreach must be simple, consistent, and focused on the crisis as it links to your strategy.
Once you’ve defined the way of distribution for your message, monitoring your audiences’ answers is equally critical. It can take months before customer probes and questions have declined.
Learn The Lessons
Lessening the negative intentions of your brand is only one phase of a PR crisis strategy. You’ll require to get a deep-dive and reflect on some events or pauses within your organization that were negatively impacted by the crisis. By considering how certain circumstances affected your organization, you will be better prepared to have an appropriate, and timely response should another conflict arise.
Additionally, we recommend developing a standard protocol or his area where a crisis management app can help. You can rest assured that all stakeholders have immediate access to the most current crisis plans available, no matter when they need it.
Build a Winning SaaS Sales Team During Recession
There is no denying the way that the novel coronavirus (COVID-19) has ended up being a pandemic, and a worldwide downturn is mainly on the cards. It is probably going to affect each division and specialty of the business, including the software as a service (SaaS) segment.
Sales teams are pushed, unmotivated, and become cumbersome. Companies put them under pressure to close; however, many arrangements as could be expected under the circumstances — deals costs increment without sending.
Instead, during a recession, pioneers should mentor their groups frequently and give them better software tools. Businesses ought to put resources into diminishing client whittling down and ought to hold their most essential salespeople.
Give your salespeople the right tools
During tough times, having the correct software tools has a tremendous effect. Unfortunately, many salespeople misunderstand this last reason and put a more substantial burden on exhausted salespeople’s shoulders.
Utilizing the correct sales tools doesn’t mean expanding the quantity of CRM deals reports that your KAM needs to satisfy. It implies making the current software intelligent and proactive. As a rule, it means less CRM.
Win the Competition’s Customers
You should keep on extending your client/customer base if your independent company flourished in recession time. This sales strategy implies drawing clients from your competition.
Offer something else or not quite the same as what the other person does. Examine your opposition and see what you can do to attract their clients into turning into your clients. How are your competitors promoting? Visit their business development areas. Ask buyers what they like or don’t care about those organizations; at that point, change your strategic business policies appropriately.
Try not to Cut Back on Marketing
Many companies wrongly cut they’re marketing spending plan deep down in lean times or any event, disposing of it entirely, yet this is actually when your business sales strategy needs marketing the most.
Consumers are restless. They’re continually hoping to settle on changes in their purchasing choices. Support them with finding your products and services and with picking them instead of others by getting your name out there. Try not to stop marketing. Increase your marketing determination.
Keep your most essential salesmen
Ultimately, you ought to abstain from losing your generally experienced and significant sales reps. indeed, cutbacks may be agonizingly essential for a business to survive. Yet, the business will never recuperate on the off chance that it loses proficient experience and information about their customers.
You’re most essential sales reps will remove understanding, information about the client, and your products and service. The downturn will finish, and your organization will pass up the usual bounce back.
Sales and marketing teams, as a rule, take the brunt of cost-cutting exercises during the recession. Avoid losing your best people no matter what, for they are the ones that will haul your nose out of the water once the downturn has passed.
Mentor your business team all the more regularly
During the recession, the weight will extend your sales team as far as possible. Arriving at deals objectives become wandering off in fantasy land, and clients are not as neighborly, of course.
Encourage your business group flexibility. If you were around during any of the last recession, you realize this one can’t keep going forever. Instruct to gain from the dismissals and to regard their clients’ needs.
Mentor them on cooperative steadiness. Collective ability implies not abandoning one’s business objectives while helping clients to arrive at their destinations.
A recession will generously hinder the development of a “normal” sales strategy as a profitable business. However, well-performing transactions like Salesforce can exceed expectations regardless of the financial culture. The SaaS sales strategy for action is flexible.
Essential Elements of Business Development Strategy Post Pandemic
The COVID-19 flare-up has changed that sentiment. Within a matter of days, workers ended up struggling to make sense of how to perform work while conforming to social removing and other new healthy measures, or thinking about whether they could work at all under state and a nearby haven set up limitations.
Increasing the everyday difficulties has been vulnerability about what the post-pandemic economy will hold, and what essential alterations may be needed to survive.
A business area changing so significantly and quickly requires speed, development on the fly, and the need to scale thinking past anything we may have previously imagined. Presently isn’t an ideal opportunity to back-burner digital initiatives but to ramp them up.
At the point when the crisis eases, we will have entered new digital normal. The SaaS strategy we use to run, change, and staff the business should mirror this move. Consider the following essential elements of SaaS business development strategy as you plan for the more extended term:
Always use the right tools
You may have sacrificed some tools or technologies in your transition to rapidly get workers out of your structure and into their homes; you may have additionally overpaid for the speedy business deployment.
You’ll have to improve your business strategy as long as possible. It could incorporate better or increasingly predictable access to systems and servers, the ability to have business meetings online, new compact hardware, virtual joint effort, and correspondence programming. That’s just the beginning.
For some, this will require working with your corporate legal team to change their thought. Where it may have once been risk-averse for the business development, it will currently need to face keen challenges, likewise for the take of the business. Express your case, discover shared conviction, and move forward.
Focus on your targeted people/Market
Know who your clients are, what they need, and what propels them to purchase. These three critical bits of knowledge will help you clearly define your target market and targeted people. Many times marketers rationalize when requested to make an actual market procedure since they accept that it abstains their chance to market to a more significant piece of the populace.
However, this isn’t the situation. More traffic on your site doesn’t mean more significant changes.
As a marketer, you surely don’t have all the assets or financial plans on the planet to market to everybody. Portion your most significant clients — the individuals who are almost sure to purchase, almost certain to make rehash buys, and prone to spend a higher sum than reasonable request esteem — as your objective market. It is the thing that will cause your business to become quicker, without you increase your business development spend.
Choose the right staff
You’ll have to keep on settling on keen staffing choices — rapidly. Unfortunately, this global crisis may have created gaps in your workforce.
Identify the people in the initial two gatherings and work with your ability supervisory team to evaluate whether you have to progress digital investments previously planned for business development.
At the point when you’ve finished this survey, recognize the extra abilities you will require for what’s to come. It might include teams acquainted with working out cloud arrangements or working with microservices, and so forth.
Focus on the financial situation
Consider how your business may skip once more from the pandemic when stay-at-home requests lifted, and kids return to class.
Purchasers start to prepare once more: We will have entered an altogether unique advanced world, with new computerized desires from buyers. Is there potential for a fast and critical flood, followed by a normalization?
Will you face a moderate ascent? Advanced change finances should be allotted to respond suitably to these different situations; staffing conversations ought to follow dependent on these decisions for the business development strategy.
Business Development Strategy Fundamentals
Not all business development strategies are of equivalent effect. Truth be told a ton of the exercises of numerous experts are exceptionally sharp and strategic in nature. This is particularly evident with numerous sales practitioners.
Gotten between the weights of customer work and a critical requirement for new business, business leaders cast about for something fast and simple that will create momentary outcomes.
Strategic business development is the arrangement of business development procedures and methodology with your association’s key business objectives. The job of key business development is to procure perfect customers for your most noteworthy need utilizing brand guarantees that you can convey upon.
Choosing which focuses to seek after and methodologies to utilize to grow new business is really a high stakes choice. A decent methodology, all-around executed, can drive elevated levels of development and benefit. A defective technique can obstruct development and baffle significant ability.
However numerous organizations flounder at this basic advance. They depend on propensity, accounts, and trends — or more terrible still, “this is the means by which we have consistently done it.” In a later segment, we’ll cover how to build up your vital business development plan. In any case, first, we’ll cover a portion of the systems that may go into that arrangement.
Top Business Development Strategies
How about we take a gander at probably the most widely recognized business development methodologies and how they stack up with the present purchasers.
Relationships are likely the most generally utilized business development methodology. It’s based on the hypothesis that expert relationship builders purchasing choices are established seeing someone, and the most ideal approach to grow new connections is through up close and personal networks.
It absolutely is genuine that numerous connections do create in that manner. What’s more, on the off chance that you are organizing with your intended interest group, you can grow new business. However, there are confinements. The present purchasers are very time compelled, and organizing is tedious. It very well may be over the top expensive, on the off chance that you consider travel and time away from the workplace.
More up to date computerized organizing methods can help on the expense and time front. Be that as it may, even online networking requires a speculation of time and consideration.
The nearby relative of relationships, referrals are frequently observed as the component that transforms relationship and customer fulfillment into new business. You build up a relationship, and that individual alludes to new business to you. Fulfilled customers do likewise.
Unmistakably, referrals do occur, and numerous organizations get most or the entirety of their business from them. In any case, referrals are uninvolved. They depend on your customers and contacts to recognize great possibilities for your administrations and make a referral at the ideal time.
The issue is referral sources frequently don’t have the foggiest idea about the full scope of how you can support a customer. Such a significant number of referrals are inadequately coordinated to your abilities.
Other all around coordinated referrals go unmade in light of the fact that your referral source neglects to perceive an extraordinary possibility when they see one. At long last, numerous possibilities that may be acceptable customers preclude your firm before chatting with you. One ongoing examination puts the number at over half.
Critically, there are new advanced techniques that can quicken referrals. Making your particular aptitude increasingly noticeable is the key. This permits individuals to improve referrals and builds your referral base past customers and a couple of business contacts.
Sponsorships and Advertising
Would you be able to grow new business straightforwardly by supporting occasions and publicizing? It would take care of a great deal of issues in the event that it works. Not any more attempting to get time from completely used billable experts.
Sadly, the outcomes on this front are not extremely reassuring. Studies have demonstrated that customary publicizing is really connected with more slow development. Just when promoting is joined with different procedures, for example, talking at an occasion, do these strategies prove to be fruitful.
The most encouraging publicizing procedure is by all accounts all around focused computerized promoting. This permits firms to get their messages and offers before the ideal individuals at a lower cost.
Outbound Telephone and Mail
Proficient administration firms have been utilizing calls and mail to legitimately target potential customers for quite a long time. Focus on the correct firms and jobs with an important message and you would hope to discover new open doors that can be formed into customers.
There are two or three key difficulties with these techniques. First, they are generally costly, so they should be perfect to be successful. Second, on the off chance that you don’t get the possibility at the correct time, your offer may have no intrigue significance — and therefore, no effect on business improvement.
The key is to have an engaging offer conveyed to a certified and responsive rundown. It is difficult to get this mix right.
Thought Leadership and Content Marketing
Here, the procedure is to make your aptitude obvious to potential purchasers and referral sources. This is practiced through composition, talking, or distributing content that shows your skill and how it very well may be applied to tackle customer issues.
Books, articles, and talking commitment have for some time been staples of expert relationship business development. Numerous high permeability specialists have fabricated their practices and firms upon this procedure. It frequently takes a decent piece of a profession to execute this methodology.
Be that as it may, changing occasions and innovation have reshaped this procedure. With the beginning of advanced correspondence it is currently simpler and a lot quicker to set up your ability with an objective market. Web crawlers have made everything fair with the goal that generally obscure people and firms can get known even outside their physical locale. Online classes have democratized open talking, and sites and sites give each firm a day in and day out nearness. Include video and internet-based life and the sprouting master can get to an unfathomably extended commercial center.
However, these improvements additionally open firms to a lot more noteworthy rivalry also. You may end up rivaling experts whom you were never mindful of. The effect is to up the ante on your business advancement methodology.
It is entirely expected to join distinctive business improvement procedures. For instance, relationships and referrals are much of the time utilized together. Furthermore, on one level, a consolidated system bodes well. The quality of one technique can support the shortcoming of another.
Be that as it may, there is a concealed threat. For a procedure to perform at its pinnacle, it must be completely actualized. There is a risk that by endeavoring to execute an excessive number of various methodologies you will never totally actualize any of them.
Honest goals, regardless of how goal-oriented, are of minimal genuine business improvement esteem. Under-speculation, absence of finish, and conflicting exertion are the most despicable aspect of compelling business improvement.
It is unmistakably increasingly powerful to completely execute a basic system than to fiddle with a mind-boggling one. Less components, ably executed, produce better outcomes.
Next, we direct our concentration toward the strategies used to execute a significant level technique. However, first, there is a touch of disarray to clear up.
SaaS Business Development and Common Hurdles
After seven years, this theory was correct — software as a service (SaaS) companies have and will keep on dominating or disturb large pieces of the economy.
This change has power by innovation: It’s currently simpler and less expensive than at any other time to develop software. With 4 billion individuals utilizing the internet, the potential client base for SaaS organizations is large.
This ideal storm of quickly bringing boundaries down to passage, and access to more clients, have seen software take precedence over hardware.
While technological advances have prodded software development, it’s the membership model supported by numerous SaaS organizations that have changed it into a flourishing industry. SaaS organizations ordinarily charge a membership for their item, which is conveyed and put away inside the cloud. The membership plan of action implies organizations arrive at benefits after some time and should consistently offer some benefit; in any case, their customers will become in danger of beating.
The success of numerous SaaS companies is one reason why many business people are looking towards the business. Much same as “there is an apparatus that,” we probably going to have before the long situation of “there is SaaS item for that.”
Fundamentally, maintaining a SaaS business requires a move in measurements that the authors focus on. The vast majority run SaaS like some other online endeavor and, inside no time, acknowledge they are not making back the original investment or getting a footing. The following are a portion of the common reasons why most SaaS companies face hurdles:
Higher Churn Than Growth
For any SaaS business to make back the initial investment, the stir rate should stay steady as client development profits. When churn (client turnover) is more noteworthy than development (client procurement rate), the business will fall flat. It is the reason SaaS organizations need to concentrate on keeping churn as low as could reasonably be expected.
As a general rule, beat can’t be 100% disposed of as a result of various factors outside the business control. For instance, a client’s need may change, causing them to settle on another company, and even the client may leave the market, making them not need your item.
However, a few supporters of stir can be overseen and wiped out inside and out. For instance, poor help, frustration with the item, or accessibility of better choices in the market can be kept away from by presenting the littlest list of capabilities conceivable to achieve the most noteworthy pace of satisfaction. It gives excellent client assistance and continually keeping tabs with your opposition. These exercises will help keep your development rate higher than churn, hence accomplishing benefits over the long haul.
The coast can murder you
Sometimes when a business person has a blasting startup, they think they’ll have the option to drift, to pull back on the exertion, remove more income from the organization, or even purchase a country estate in the Caribbean, on the off chance that they’ve been especially useful. For example, I was voyaging a couple of months back and conversing with different business visionaries. One person had been with an organization for a long time. It was fruitful to such an extent that the author was presently nowhere to be seen — continually flying off to another goal.
We went the direct inverse way. Our unique item was useful and developing, and we felt just as we had pushed the imagination beyond what many would consider possible. Rather than bailing, we multiplied down and propelled another item, MeisterTask. This following item inhaled new life into us as organizers, just as the organization in general. We were building up another piece, likewise enlivened us to consider new roads for our first item, MindMeister.
Poor Management Team
Another motivation behind why SaaS organizations fall flat has a frail supervisory team. The administration ought to be sufficiently brilliant to keep away from the five reasons referenced previously. Weak management groups regularly flop on the strategy and don’t accomplish enough work to approve the highlights for their item earlier and during development. The groups can likewise carry on through poor marketing strategy.
In SaaS, the executives assume a crucial job in deciding the heading of the business. While the dev group may appear to accomplish all the work, the administrative group’s aptitudes in examining and understanding their objective market, executing client procurement strategies, and actualizing development strategies are essential for the great soundness of the SaaS business.
A Failing Business Model
With the selection of a lean startup model and numerous examples of overcoming adversity of SaaS organizations bootstrapped to gainfulness, most business visionaries accept that it is anything but difficult to secure clients. They expect that in the wake of building their item, clients will give an indication up. It might be valid for the first, not many clients, yet in quite a while, getting clients is a costly assignment.
Have an effective strategy; SaaS new businesses need to discover approaches to expand the LTV while holding the CAC down. Strategies like inbound advertising can assist with improving client securing without necessarily spending a great deal on them.
Lack of Market
Most SaaS organizations come up short since they are just not taking care of any current issue. Others might be taking care of a question that clients would prefer not to settle.
The barriers to developing up an application are at an untouched low. With locales like Guru, Elance, and Freelancer, anybody can gather a group from abroad and get an app coded for under $1000. Most originators end up in limbo after product development when they understand that no one appears to think about their application.
The above is a part of the reasons why most SaaS businesses fall flat. Are there whatever other reasons that are specific to the SaaS business strategy that we have missed?
SaaS 10x Strategy: Business Development Plan Post Pandemic
Pandemic has already hit many industries. However, there are still big sectors of the market that are growing. The key questions, how to maximize this opportunity and win more clients.
SaaS is now playing a key role in SMB and also enterprise space. Many organizations either small or large are relying on SaaS platforms to manage their day to day operations. From a SaaS business perspective, there are some steps that you can take as a founder and entrepreneur to maximize and eventually drive massive growth to your top-line revenue.
Especially now that everyone is preparing themselves for post-pandemic life, these tactics and strategies can help you re-establish your brand and regain customer’s trust which will end up as revenue growth.
Re-evaluate your value proposition
This does not mean after each crisis you should change everything about your SaaS business. However, your message and tone of voice should reflect the reality of the society and what is happening in the world. Of course, during this pandemic, you cannot have a loud pushy message. The message should be something around hope and positivity. Now the good thing about value proposition, is that it can be universal. So, this means you can rely on that for about 3 years and then you can think of changing it.
I changed my personal branding slogan to this:
Before pandemic, my slogan was: Helping SaaS Businesses Grow Sales Faster. Absolutely certain and solid language. However, this needs to be changed as many businesses will not be able to grow at all.
Here you can explore how to tell your story in less than 280 characters.
This seems like a no brainer. However, I have seen SaaS platforms that are struggling to service clients outside of the USA. Everything is organized around the US time zone and the comfort of North Americans. Despite the fact that the business has customers in Europe and APAC, but normally those regions are excluded from the change management process.
Please don’t. If you need to set up a new environment or another instance in another region so the performance of your SaaS increase, just do it. You can use this opportunity to do press release as well. Think of having a great foundation for your business globally so in case that you want to move to new countries, you just need to press the expand button.
Build data assets
Do not just rely on your internal data sets. There are tons of data sets outside of the business that can be leveraged to start looking at patterns. You also can think of becoming a thought leadership content and even share all those insights with your audience.
Combined with data visualization tools, this can be a great tool to build business assets for your customers and educating them on what’s going on with the industry.
Integrate growth hack into your business
Growth hack can be a massive discussion when it comes to SaaS strategy. This topic can be the subject of a series of blog posts or even a book. In the future I will put more focus on growth hack tactics on how to drive organic growth leveraging external and internal forces. However, for the sake of this blog post, you can think of hiring a growth hack consultant to help you identify new markets or unidentified oceans that can be monetized.
Here you can find a 1-pager marketing plan to start with and acquire 70 new clients.
Build 10x features into your product
Every SaaS vendor has specific 10x features as a killer value proposition that can help them close more deals. There will be specific things that you do better than the competition. In general, your competition will copy you eventually. However, it is a matter of time and resource. By the time that your competition copy you, you already got a market share and a strong relationship with your clients. So, it will be very hard and harder for competition to beat you.
5 Things About Sales During Crisis You May Not Have Known
Being a sales architect is a tough job, especially during a crisis. From dealing with difficult prospects and stiff competition to the pressures of hitting quota, the profession can chip away motivation — but only if you let it. The road to success isn’t easy, either. In fact, you’ve probably already read a few ideas that worth sharing during tough times.
This section is targeting both sales and non-sales people out there that are fighting and growing their businesses.
There are many trends and innovations that are going on in sales and business development space that many people are not aware of. COVID-19 has made dramatic changes to the way people live and this has a big impact on businesses.
On the other side, the sales will not stop. As long as there are people living on the planet, sales will thrive as one of the key and core skills and professions.
So, we better know what is going on in this space:
“I never lose. I either win or learn.” — Nelson Mandela
Sales is all about fighting and growing. If you are not growing, you are dying. The key metric to grow is to learn. Especially during these hard times, the key to success is and always will be self-development. As a sales and business architect, you must learn to learn.
Learn for at least 2 hours per day. Learn about sales, marketing, and branding and make sure you expand your horizon. This way, you can immediately make more impact on the business and mark your sign-on industry.
The line between these areas is becoming more blur in the business. Make sure you are across all of them.
“Success looks a lot like failure up until the moment you break through the finish line.” — Dan Waldschmidt
Never think you are failing, because then you definitely will. Having a strong mindset and a winner mentality is an absolute must in this job. You must be iron fist when it comes to winning in sales.
The reason is simple. This will reflect in your voice and confidence and your prospect will know that they dealing with a pro rather than a newbie.
Nobody wants to talk to a new, especially when they are paying money.
“Please think about your legacy, because you’re writing it every day.” — Gary Vaynerchuk
Having a positive attitude is a must-have when it comes to business development. However, it is not enough. Thinking big and having a vision for yourself and your future is another requirement if you want to be successful during this pandemic.
Think about how people around you remember you and what lessons you want to illustrate for your children and the next generation. That will be your vision.
“Establishing trust is better than any sales technique.” — Mike Puglia
Sales is all about trust and persuasion. You must maintain your integrity, otherwise you will perish in the market place. It will take years to build and maintain credibility but it will take only seconds to destroy it.
Be very careful. If you are starting to rationalize things in your head, you are crossing the line.
“Don’t bother telling the world you are ready. Show it. Do it.” — Peter Dinklage
Deliver on your promise.
Many sales architects are making a lot of promises but they miss their words. Don’t be that person. If you promise, try to even over-deliver. You are building a personal brand when it comes to each and every transaction and engagement with prospects.
If you are failing on doing something that you commit, the prospect will think that you will do the same when they commit to purchase as well. So, they don’t buy it!
Where Will Sales Be 1 Year From Now?
There are many predictions and discussions that COVID-19 will be our guests for another year or so. This crisis is not something that goes away in the next couple of months. In fact, Coronavirus may continue to stay with us for a long long time. Bill Gates mentioned that this crisis may stay with us till Sep 2021. So, the question is, how the sales will change in 1 year time?
Being in sales and marketing for years now, I can see the changes and trends and what is going on in our industry and how businesses are shifting their strategy on how to communicate and persuade their target market and that is sales.
I talked about how COVID-19 can affect you and your business. The key is to be adaptable to the situation.
COVID-19 is imposing massive limitations on how businesses interact with each other in B2B space and as the result and as this crisis is on, we can start to see the changes and trends.
Some of these trends are inevitable, meaning we could have expected them to come in a few years, but because of the crisis that we are in, they now becoming new norms.
Human communication is becoming a remote and so does sales.
As we are now communicating and socializing over tools like Zoom, the sales have shifted to remote-only practice. Now, as COVID-19 is becoming more under control and perhaps by having the vaccine, this will go back to more normal face to face interaction, but sales architects will learn how effectively sell remote as well.
Obviously, nothing can beat face to face sales, but this will help salespeople to sharpen their tonality and persuasion techniques to the next level.
I have talked about this here before.
People and customers need to know that you are not a jerk driven by profit. They need to see and understand your position and what you think about the whole situation first hand.
Do not just release PR. Give your customers 1:1 presentations on what are the new measures and how you are responding to the crisis and which tools you are using. Make sure that your customers are 100% confident that you are taking care of them.
Your message should be something around “ we are in this together” or “we are fighting to drive growth together” as emphasizing on tackling these issues not just on their own.
This is not something that I agree with, but many businesses and startups are cutting marketing costs. This is ridiculous but happens.
For those sales reps hit by this, they eventually become world-class prospectors and they will be able to bring their own leads from different channels.
This book can help you set the foundation for your prospecting skills as well.
Becoming trusted advisors
When it comes to building your personal brand in technology b2b space, nothing beats becoming a trusted advisor in your market during Coronavirus. You want to position yourself as an expert in your field, both from a technical and business perspective. You should put your focus on educating your potential clients on how to become better at what they do. You are not going to an opportunity just for the sake of commission, because people can see that. They can sense if you are there to make a sales or you are there to help them grow.
Care about people. Become absolutely interested in what they do and what they want and fight on their behalf to get them what they need.
In order to improve productivity and overall sales, it’s important to stay on top of trends and implement new technologies and new tactics.
Sales Challenge; Your Story Explained in Fewer than 280 Characters
Here I design a challenge for all sales experts and growth strategists out there: Tell your story or pitch in less than 280 characters!
Now you may ask what I mean by this and why I created this challenge.
Obviously, we are living in hard times. COVID-19 has changed many things in the world and sales is no exception.
Especially B2B sales in tech space which I am heavily involved for many years, will experience some hiccups in terms of ways that we communicate and build relationships with customers.
So, it is very important for us to stay sharp and be like thunder in terms of keeping our skills up to date.
Like athletics, we as sales leaders must practice every day and keep our brain as sharp as we can even during these tough times.
Now you may have a few questions about this challenge. Let’s answer them all here and now:
Why 280 characters?
As you know, this is the limitation for Tweeter as each tweet cannot more than 280 characters as of today that I am writing this blog post.
I was surfing the internet and found this article to explain your value proposition in 280 characters. The idea is to explain why you are different in what you do as a business leader to your target market as short as possible in one tweet.
I was thinking by myself, why not do the same in sales.
So the challenge is to tell your sales story or sale pitch in one tweet! No less no more.
If you think about this, this will make your story elegant, short and to the point without wasting anybody's time.
Let’s give it a go
Here is my shot:
Fastest sales that I had was a deal worth of $700k which I closed in two weeks. Key reason for that win was the relationship I had with buyer and as I got a new job, I called him and told him about my new role. Invest in relationships!
Keen to get your feedback and see what you think.