Many salespeople, sales managers, and company CEOs grapple with the unique problem of adapting their sales strategies to ever-changing market dynamics. This problem stems from an old-fashioned practice in which sales leaders tend to offer the same advice that made them successful when they were nascent salespeople. However, to remain competitive and productive, realizing that this traditional advice may no longer hold relevance in today’s sales world is crucial.
Let’s consider a sales leader who made his mark when the internet was still in its infancy, and email and mobile phones were not part of the sales process. If this sales leader continues to advise their team based on those past experiences, they will likely be setting them up for failure. Today, the sales world is no longer about physical gatekeepers but about navigating spam filters and phone blockers. The sales environment has evolved, and it’s time sales strategies do, too.
A typical issue salespeople face today is being ‘ghosted’ by potential clients. Ghosting, a relatively modern term, refers to the situation where the person you’re trying to reach is not returning your calls or emails. It’s a frustrating experience, but it also indicates a salesperson’s failure to be proactive and do the right things earlier in the sales cycle. Modern salespeople need to think ahead, plan better, and ensure they set up the next meeting before leaving the current one. This proactive approach can help prevent ghosting, keep the sales conversation going, and indicate progress.
However, the bigger picture here is not just about adapting to new sales environments but also adjusting to market shifts. Something always causes a shift in the market—be it a pandemic, recession, election year, interest rate fluctuations, geopolitical issues, or wars. As sales leaders, it is crucial to be nimble enough to recognize these shifts and coach the sales team to adapt their selling techniques accordingly.
Now, how can we help salespeople adapt? One of the strategies is to name and address the issue at hand. The sales world is harsh, and there will always be challenges. However, we must remember that our job is to create revenue for our companies, irrespective of what the world throws at us. It’s essential to focus on the fact that even when the economy is down, there are still orders out there that we can secure. We can still outperform our competition, be good partners with our prospects, and help our customers overcome their challenges.
Another strategy involves understanding the psychology of the salesperson. As sales leaders, we need to identify the signs of a salesperson having a non-adaptive moment. It could be a belief that a new product in the market is better than what they’re selling, leading to decreased confidence and performance. We must break this psychological bond and ensure the salesperson remains motivated and confident in their product.
Moreover, it is critical to look for leading indicators that signal a problem. A decrease in the volume of quotes, a lack of prospecting, or a repetitive error can all be signs of an issue that needs to be addressed. Identifying and addressing these issues early can help prevent a later quota attainment problem.
Sales teams need to reframe value. As salespeople, we must understand how our clients and customers measure value. Instead of discussing our product features, we should focus on their problems and how they solve them. By making our sales pitch relevant to their business, we can become trusted advisors to our clients.
The key to success in B2B sales is more than adapting to new sales environments or market shifts. Sales teams should truly understand their prospects—how they make money, lose money, have internal conflicts, and face challenges. As salespeople, if we can help them solve problems they don’t even know exist, we can become their trusted advisors. Once we achieve that, no amount of economic downturns or market shifts can hinder our success.
Here are a few steps you can take today as a sales leader to adapt your strategies to the changing sales environment:
- Name and Address the Issue at Hand: Identify any challenges your sales team may face. Whether it’s a shift in the market or a new product decreasing their confidence and performance, it’s essential to address these issues head-on. This could mean having a team meeting to discuss these challenges and brainstorm potential solutions.
- Understand the Psychology: Pay attention to your sales team’s mindset and behavior. Take immediate action to boost their morale if you notice signs of a non-adaptive moment, such as a lack of motivation or decreased confidence in their product. This could involve one-on-one coaching sessions, motivational talks, or team-building exercises.
- Look for Leading Indicators: Monitor critical metrics and signs that indicate a problem. These could include a decrease in the volume of quotes, a lack of prospecting, or a repetitive error. If you identify any of these indicators, address them immediately to prevent further issues.
- Reframe Value: Encourage your sales team to focus on understanding how clients and their customers measure value. Instead of focusing on your product’s features, teach them to concentrate on the problems their clients are facing and how your product can help solve these problems. This can help your team become trusted advisors to their clients, improving the chances of securing and maintaining business relationships.
