I have gone through two economic downturns, the burst of the dot-com bubble in 2000 and the financial crisis in 2008. So, what are my top tips or hacks for managing your sales pipeline in an uncertain economic environment?
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I never spent any time in D2C sales. As a consumer, though, I have experience, and I find some aspects appalling, others irritating, and a few fascinating. Since direct-to-consumer sales is a business model based on the sale of products to the end customer without intermediaries, I get to interact directly with the producer or manufacturer, either in person or through their own eCommerce channel.
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By embracing evangelist-led growth. This strategy develops and leverages the enthusiasm and advocacy of a company's most passionate users to eventually drive new customer acquisition. These "evangelists" are customers who are highly satisfied with a company's product or service and are willing to recommend it to others.
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Sales productivity is typically measured in sales revenue per salesperson, individually and as an average over a team. This is a straightforward approach that can be further enhanced by including factors like e.g. hours worked, profitability, percent of target, or lead conversation.
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Building and running sales processes and teams without experience is an expensive trial-and-error scenario! Can it be done? Sure, it has been done this way many times. Should it be done? In my opinion, no. Because…
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Yes and no are very strong and bold words to use. Especially when most of life falls somewhere in between the two extremes. And when the answer to a question sometimes involves something more complex than is immediately obvious.
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Sales trap: Assume you know what they want. Problem: If you assume that you know what they want or where they are in the sales cycle, then you start asking questions and giving information that may not fit with where they are at.
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"Just tell me the price." "How much does it cost?" "All I want is your best price." "Can you just give me the price?" "How much is it?" "All I am looking for is a price." "What is your best price?" "How much?"
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What if we encounter decision fatigue with our doctor, with the admissions officer handling our application, or when fundraising for a startup? What if we observe it with ourselves? After a day of many decisions, we are less patient when asked to make another, we take less time to consider the impact, and the decision turns out to be not as good as those made earlier in the day.
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We all have the ability to interpret the same situation differently. What looks like a smart risk to one person may be a dumb one to another. The Smart Risk Equation is simply a framework you can plug your own variables into that will help you draw a picture of the risks you want to take in your life.
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