7 Reasons for Your Disappointing Sales Figures
Missing your sales goals after a disappointing campaign is always disheartening, but it’s how you alter your strategy afterwards that really counts. Whilst it’s easy to shrug it off and put it down to customers not being ready to buy, in reality there are a number of reasons why this was the case. In this article we’ll take a look at seven of the most likely, so you can make sure you’re doing everything possible to drive more sales.
Reason 1: You Need Better Quality Leads
The very first thing you should look at is whether or not you’re targeting the right people. An effective sales strategy is centred around quality, not quantity. If you’re not qualifying leads and opting instead to market to anyone and everyone, you’re cheapening your product and ultimately wasting time and money.
A reputable company directory such as Global Database is the ideal solution here. With millions of prospects across 195 countries and all industries, it’s almost guaranteed to have plenty of new leads for your pipeline. Most importantly, you’re able to filter these contacts based on specific criteria such as industry, location, turnover, number of employees, job title, and many more, and all of the records contain direct contact details so you don’t even have to worry about secretaries blocking your messages.
Reason 2: You’re not Creating a Sense of Urgency
Given the busy schedules of your prospects, and the fact that they’re probably being targeted by your competitors, you really need to give them a reason to purchase now. Without one, even if they like what you’re offering, they’re likely to put it on the back burner and you run the risk of getting forgotten.
Make a point of getting to the bottom of their current pain points and explaining exactly how your product or service can help, and why it should be a priority. You could also look at offering a limited-time special offer or free trial to coax them further.
Reason 3: The Prospect Doesn’t Trust You
It’s vital that leads see you as a legitimate and risk-free company, particularly when it comes to higher value transactions. In order to show that you’re a reputable business you can do things like supplying case studies and testimonials from previous clients (especially if they’re well-known), sharing positive reviews and details of any awards your company products have won.
It’s also important to make sure your website has plenty of information about your business and what you offer; the majority of prospects will do their own research before engaging directly with a salesperson, so they need to feel assured that you’re as transparent as possible.
Reason 4: You’re Harassing Them
No one wants to feel like they’re being the hard-sell, particularly if there are multiple emails or phone calls involved. Don’t hassle your prospects with constant messages about how great your product is, instead, be authentic and provide them with something of real value in your messages.
Make sure you’re prepped with all the background information you need before reaching out to them, so you don’t have to keep messaging them to ask basic information about their company, and make sure you’re actually taking onboard their concerns instead of just talking at them.
Reason 5: You’re Forgetting Previous Customers
All businesses need a steady stream of fresh leads to stay afloat, but that doesn’t mean your previous customers should be neglected. Chances are, if a company has made a purchase from you in the past, they’ll be open to buy from you again, and provided they’ve had a good experience will be easier to convert than new leads.
Target these customers with products or services that complement those they’ve already purchased, reach out to them to ask about their current needs and any changes to their business that you can then leverage, or offer special deals to coax them back into the fold.
Reason 6: You’re Lacking Motivation
Without a willing and enthusiastic sales team, even the very best pitches just aren’t going to make it anywhere. If you and your colleagues are doing the bare minimum to get by, it’s probably not going to result in successful campaigns in the long run. If you are feeling disheartened and demotivated, try to establish the reasons why. Do you feel you need more appreciation from the company? Or maybe more autonomy? One simple way of picking up the slack is to turn your targets into a contest, this is a good way to keep everyone motivated whilst also keeping things light and having fun.
Reason 7: Your Goals Aren’t Realistic
Failing to set proper sales targets can have a very negative effect on your campaigns; if they’re too low it’s easy to become complacent and unmotivated, and if they’re too high it can end up creating a culture of failure within the team. You can use the SMART strategy founded by psychologist Edwin Locke to help you plan your goals; it goes like this:
- Specific – Leave out the need for guesswork by coming up with clear and simple targets.
- Measurable – Make sure your targets can be easily tracked and measured.
- Attainable – Choose goals that are optimistic but still within reach in order to inspire the team to work hard.
- Realistic – Don’t get carried away if you’ve had some good numbers lately; be optimistic but make sure you have a realistic view of what your business can achieve.
- Timely – Always include a timeframe when setting your targets.
If your current sales strategies aren’t working, don’t just bury your head in the sand and hope that things will pick up on their own. Take a closer look at what’s working and what isn’t, and alter your methods and processes accordingly. Some of this may be trial and error, but it’s better to work at improving things than reaching a stalemate and becoming unmotivated.
If your sales pipeline needs some fresh leads to kick things off again, visit us as www.GlobalDatabase.com