When I talk to clients who have a new business shortfall, the two most common sales strategy problems they have are:

1. The team are finding it really hard to get in front of the right prospects.
2. The team are really struggling to close business.

Both of these ‘issues’ are just symptoms, not the real problem itself. 

I run a lot, so I often get aches or pains in my legs or lower back. It’s usually just a little bit of discomfort that moves around. Today, my left ankle hurts, and tomorrow, it might be my right knee. If I spend all day today stretching and strengthening my left ankle, it won’t make any difference. And if I waste all day tomorrow doing the same for my right knee, it won’t help either. The pain in my ankle could be because my calf is tight, and my sore knee is probably because my quad is tight. So, if I spend a little time stretching and strengthening my calf or quad, the problem will go away.

The same principle applies with sales strategy problems. It’s why I’ve spent my whole career diagnosing and fixing the root causes, not wasting time and energy on the symptoms. 

Where the problem is felt is not where the problem is.

So, let’s look at the first difficulty being faced – The team is having a tough time reaching out to potential customers. This includes comments such as:

• No one is picking up the phone anymore
• Emails are just not being read
• LinkedIn doesn’t have the same impact as it used to
• The leads are no good
• And so on.

While there might be some truth to these points, I don’t believe any of them are the real the problem. Something earlier in the process has either been overlooked or done incorrectly and needs to be addressed. 

To pinpoint the root issue, ask yourself these questions:

• What’s our sales strategy?
• Do we have a solid Ideal Customer Profile? If so, how up-to-date is it, and when was it last reviewed by an external expert?
• Do we have the right personas? If so, how well-defined are they, and when were they last reviewed?
• Do we have the right tools and technology to maximize sales time and efficiency?
• What’s our messaging?
• How is marketing supporting sales?

There are many more questions to consider, but these are a good starting point.

I’m still astounded that the following still happen so frequently.

• Companies with a sales strategy that focuses mainly on retaining and expanding their existing customer base, with only a casual mention of new business. Yet, they expect their sales team to spend over 40% of their time on new business. And often, the commission plan is out of line with expectations, heavily weighted towards retention.
• Companies that don’t have a clear Ideal Customer Profile. Even those that do have one it is often based on unrealistic expectations or lacks sufficient detail to be useful.
• Salespeople often aren’t provided with the tools or support they need to succeed, and there’s often a lack of collaboration between sales and marketing.

I know it can be tough to identify the root causes and then make the necessary change . It takes time, the right questions, honesty, humility, and the courage to make the necessary adjustments. 

So, what’s the alternative? 

If you keep missing out on the right prospects at the right time, you’ll keep missing out on new business goals. And whats to blame? The market, the sales team, the global economy, conflicts, or even the weather?

These are excuses not reasons.  You have to take back control if you want long-term sustainable growth.  Stop worrying about the things you can’t control and regularly review and adapt those you can.

Next time I’ll offer my thoughts on why closing seems so tough right now.

Ray

The Sales Doctor

Consult | Assess | Recommend | Execute

Post by Ray King, 17th October 2024