One of the largest economic news in the world right now is the coronavirus pandemic, which affects all types of industries, from travel to industry events to global supply chains. The stock market has entered a new wave of volatility, prominent business networking events have been canceled or postponed, cross-border travel restrictions have aggravated or canceled people's international travel plans, and the whole country of Italy has been closed due to coronavirus. ]
In times of crisis, when the news is full of shocking and threatening headlines, it is important to remain calm and to remember that there are still many things that we can control and many ways we can do something can effect. Just like we all learn how to deal with the virus in everyday life by taking additional precautions such as hand washing frequently, disinfecting surfaces that are touched frequently (such as phones, keyboards and doorknobs) and being alert when it comes to coughing or sneezing To properly cover it, there are several strategies that sales teams should now employ to cope with the business impact of coronavirus.
Here are some key strategies that sales teams should now use to ensure that their sales pipelines work properly.
Just as you stock up on supplies that your home may need in the event of a quarantine, you also need to stock up on sales prospects. You should do that now and not later. Now spend extra time, effort, and resources on prospecting and generating leads, even when you're busy. Even if you are not in an industry that has previously been directly affected by coronavirus, there is a possibility that this outbreak will lead to broader and more serious economic effects. Your company is well served by a deeper pool of potential customers with whom you can work long term. Even if the corona virus turns out to be a short-term panic, or if it is worse than expected and the US economy is in recession, investing in a well-stocked pipeline of sales prospects is never a bad idea.
Depending on the types of B2B solutions you sell, your potential customers may already have significant problems and concerns about the corona virus. Think about it and change the perspective on the main benefits of your products and services in a way that is relevant to coronavirus problems. Is there a relevant sales pitch about how your B2B solutions can help your customers adapt to Coronavirus and what are the key benefits they have to overcome the crisis?
For example, many companies are already announcing an aggressive shift towards remote work and encouraging people to work from home. When selling cloud colocation solutions, refocus your marketing efforts to sell remote access to companies that can keep their offices operational by having employees work from home.
Many other companies have to cancel travel plans because large industry conferences and trade fairs are postponed or canceled. Selling a virtual event platform or collaboration software is a great opportunity to show your potential customers the value of having their most important business conversations online, even if real meetings are not currently possible.
The same selling points for your product that were relevant before the corona virus may still work, but you may need to adjust your sales pitch slightly to design your solutions to people's most pressing problems. Your potential customers may be dealing with multiple coronavirus pain points, e.g. B. …
Are these weaknesses familiar to you because of your customers and your industry? If so, adapt these angles to your sales pitch. These are all possible angles to show how your solutions can help – in times of coronavirus and when life is back to normal.
Coronavirus is forcing many companies to restrict travel and personal meetings. That means web-based presentations are more important than ever. Repackage your sales pitch into a complete virtual presentation. Be ready to do more of your pitch online than on-site meetings.
This may require a change in your sales process. Perhaps you are used to making a first Discovery call as the first phase of your sales cycle, and then your next call would be an on-site meeting. On-site meetings may not be an option because your potential new customer may only be working from home, or may not meet with someone until the crisis has subsided.
Be ready to get creative and drive sales by doing things you never thought possible. Like for example …
Think creatively. Use different collaboration tools. Look for communication apps to talk to your customers. Don't worry if you can't be there in real life.
Avoid panic. And stop assuming the sky is falling. Resell and mine. Many people seem to be on the verge of panicking about the corona virus. They stocked up with toilet paper and canned food. They seem to think that the economy will close. I'm not claiming to be an expert. But I think the worst fears are over. (This article contains interviews with actual disease experts. It provides some helpful and calm perspectives on the myths and realities of the coronavirus.) Watch out for short-term economic problems. But I think we can get through this public health crisis without a 2009 style economic crisis.
The stock exchange reacts to possible risks and uncertainties. Business trips will be canceled. Do you work on Wall Street or in the aviation or hospitality industries? Then you understandably feel concerned. But the rest of us have to avoid panic. Life may not go back to normal immediately. So, look for ways to adapt and continue to do business.
Offers can stall in your pipeline. But make sure you keep them warm. And keep checking in with your leads. Some companies may hold back their investments until the uncertainty is resolved. But look for the first sign that the crisis is over. You should make up for some temporary losses very quickly.