Experiencing a drop in sales? No one wants to have a drop in sales, but it happens. Dips can happen here and there and for a variety of reasons. They…
Experiencing a drop in sales? No one wants to have a drop in sales, but it happens. Dips can happen here and there and for a variety of reasons. They can happen seasonally, they can occur in part because of your type of business or industry, and they can happen expectantly.
Drops in sales can be minor and they can be significant. A sales rut can be scary, especially if you are not sure why the drop in sales is happening. As a sales rep and sales team, it’s your job to sell. And, when you are not selling, there is increased pressure on you.
Drops in sales affect your business. It impacts team morale, increases stress, and it can impede your ability to think logically. But there are ways to come back from a sales drop to get your sales figures back on track.
Here, Toronto sales recruiters outline the common reasons you could experience a sales drop, pose questions you can use to investigate why a dip occurred, and provide some effective strategies to get your sales numbers back to normal.
There are many reasons why you could experience a drop in sales. Some are within your control and others are not. Drops can happen because you tried something new, but they can also happen because you stayed too long with the same strategy. Sales dips should be assessed on a business-by-business basis to get to the root of the issue.
Some of the reasons you could experience a drop in sales are:
Understanding the reasons why a sales drop can occur is important. But then you need to investigate why your company has experienced a drop. You can start to unfold what has occurred and which factors have led to a drop in sales by asking yourself a series of questions:
Asking these questions will help you pinpoint potential reasons why a drop in sales occurred. Once you identify the issue, you can start working toward correcting the issue and boosting your sales numbers.
Try these 6 strategies from Toronto sales recruiters to assess your sales woes and boost your sales numbers back up to a normal level:
When you experience a lull in sales, it’s a good time to take a step back and re-assess your sales strategy. It’s easy to get caught up in what is happening daily, right now, and forget about the big picture, especially when sales are good. It often takes a dip in sales for companies to take a look internally. Look at what is working and, more importantly, what is not working.
When your customers stop buying, you need to take notice. Your customers are perhaps the greatest resource to help you identify why your sales are down. So, listen to what they have to say. Figure out what they want and need. Over time, a disconnection can occur between what you are offering and what your customer needs. Customers’ needs change, and you need to evolve to continue to address those needs.
Do you need to change your products? Can they be delivered in a better way? What can you offer that other competitors cannot?
Sales tactics, like anything else, can get old and stale. When was the last time you changed your approach to sales? If you are following the same strategy you did 10 years ago, it may be a sign you need to update your sales process, even if it involves stepping outside of your comfort zone.
Who you sell to, how you market the channels you use, and how you build relationships with your customers should be investigated to identify areas you can innovate.
Whether you’re a sales rep, team leader or sales manager, it’s important to get feedback from others within the organization. If you have an issue you can’t solve, seek out more experienced individuals internally to get some feedback.
Sometimes you may be too close to the situation to see what the issue is with your sales process. Consider bringing in an outside sales coach or mentor to help you identify problem areas. Get an outside perspective about how you are approaching sales and reasons why you had a drop. It’s always good to get some outside perspective from time to time. New ideas can lead to new solutions.
Sometimes you just need to ride the wave. Understand there will be great times and not-so-great times. When you experience a drop, look for ways to improve, but don’t overthink it. Don’t take drastic measures if you’ve regularly experienced sales success. Investigate the drop, formulate a plan, and take action to get back on track.
Experiencing a drop in sales? Want to keep sales strong? Check out these effective sales strategies you can implement today to keep your sales numbers strong:
SalesForce Search is a Toronto sales recruiting company which specializes in the recruitment and placement of sales professionals. We recruit salespeople in every sector of the economy including, software, manufacturing, financial services and medical devices. Find the right salesperson for your organization, start your search here.
Rhys is a tenacious, top performing Senior Sales Recruiter with 15+ years of focused experience in the Digital Media, Mobile, Software, Technology and B2B verticals. He has a successful track record of headhunting top performing sales candidates for some of the most exciting brands in North America. He is a Certified Recruitment Specialist (CRS) and has expert experience in prospecting new business, client retention/renewals and managing top performing sales and recruitment teams. Rhys enjoys spending quality time with his wife, son, and daughters, BBQing on a hot summer day and tropical vacations.