Another year, another sales slump.
You’ve probably seen many articles on how to survive it, beat it, heck even conquer it. But time and time again, you’ve noticed certain seasons just aren’t going to be your best. Okay, that’s settled. But instead of beating yourself or your sales team up about it, and instead of setting unrealistic goals and expectations, what about just focusing on what you can do? So that’s what we’ll be going over in this article. A few things you can do to handle the sales slump. So take the time to read the suggestions below, it’s not like you’re busy with big sales if you’re reading this article (just kidding!).
Handling the B2B Sales Slump
Your Sales Slump season is here. Your budget and planning anticipated it, so what now? The phones aren’t ringing as much, and there’s more time to think, so this is a great time to take advantage of a slow season to prepare for your busy seasons. To put it lightly, now is the perfect time for some house cleaning. Take a look at the top 4 ways to handle a sales slump.
1. Update Your Website
Sales and website traffic typically go down during your sales slump season, giving you the perfect window to provide your website with a much-needed update. During a sales slump, take time to do the following simple cleanups to your website:
It is becoming increasingly important for every business to have a nice-looking, easy-to-use website. And yes, that means it has to look good. Generally, people mistrust websites due to poor design. In a study, participants showed 94 percent distrust a company due to its website design. This is astounding! You can have the best products, services, and content and be highly ranked online. Yet something as simple as a web design can steer prospects away.
Create High-Quality Content
Content is key to the success of every business. However, that success will not happen overnight, which is perfect for your situation. On average, blog posts are indexed and start ranking in 60-90 days. However, in terms of ranking well, that takes about 18-24 months. When it comes to content, it’s not a sprint, it’s a marathon, which is perfect for a sales slump season. Take a look at your website, and see where you need to work on your SEO strategy or add additional content. Here are a few suggestions:
- Create more long-form content
- Publish informational content
- Update old content
- Improve on-page SEO
- Add relevant infographics
- Mix things up a bit and have fun
2. Optimize Email Marketing
Taking full advantage of profitable sales seasons for email campaigns like the end and beginning of Fiscal years is one thing, but what about sales slumps? The sales slump season is a time to catch your breath, look at the data, and optimize your email marketing. A sales slump is the perfect time to test, test, and yes, do even more tests. During a sales slump, focus on implementing new email campaign strategies, and improving your lists.
3. Increase Your Social Media Presence
Chances are, your organization is already on social media. With 97 percent of fortune 500 companies relying on social media and a staggering 93 percent of marketers worldwide using it, we’re going to take a hunch and say you do too. So, instead of giving advice like set it up, we’re letting you know that you should be increasing your presence during a sales slump. What does that mean? Check out the list below.
- Pose Frequently
- Have Giveaways
- Dedicate Time to Respond
- Try New Platforms
- Run Ads
- Update Profiles
4. Work with a Lead Generation Company
The fourth and best way to handle a sales slump? Work with a lead generation company. In “The Facts of Business Life” by Bill McBean, he goes over the 7 Facts of Business Success. His fourth fact is, “Planning is about preparing for the future, not predicting it.” So, how does that relate to handling a B2B sales slump? Chances are you know when your sales slump occurs every year. So while you’re busy focusing on your business, you should also devote time and resources to lead generation. When working with a lead generation company, you are handing that task off, so you can focus on what you do best. Letting a professional company handle your lead generation needs can help you see growth even in a sales slump.
The Importance of Expecting the Unexpected Even During a B2B Sales Slump
So, now you know how to handle a sales slump, your work is done, right? Well, unfortunately, in life, there will always be a few bumpy roads until you get to your destination. From a flat tire to a check-engine light, not everything will go your way on your journey. The same goes for your business. Unfortunately, you cannot plan for every event. Take the 2020 pandemic, for example, or the global shipping container shortage. But regardless, your company needs to expect the unexpected, or risk falling further behind, sales slump or no sales slump. Here are a few more things we suggest you prepare to be impacted by below:
Inflation impacts how prices change year-over-year. That being said, as of 2022, the U.S. is experiencing its highest inflation rate in over 40 years. If this already occurred, why are we labeling it as unexpected? Well, inflation impacts every year as we noted, and it is expected to stay steady and unlikely to see a drop for the next 2+ years. Plan accordingly, and expect the unexpected impact of inflation on B2B Companies.
Speaking of inflation and the unexpected, we can’t forget about recession. While inflation doesn’t directly equate to a recession, it’s a telling indicator when there is excessive inflation that becomes out of control. If this occurs, a recession is likely looming. According to Forbes, “During a recession, the economy struggles, people lose work, companies make fewer sales and the country’s overall economic output declines.“ A recession isn’t something companies like to think about, but it’s crucial to plan ahead so you don’t get caught off guard.
Like we started out saying, we didn’t try to tell you how to battle, conquer, or any other catchy phrase that’s used to overcome a sales slump. Instead, we provided you with tips on how to handle it. With these tips, you can stay afloat, and prepare to knock it out of the park during your busy season.
Ready to Handle Your B2B Sales Slump?
At 360Connect, we understand sales slumps happen, so let us help you get through it. We connect you with prospects requesting quotes for your products and services guided by 360Connect’s True-Intent process. Our mission is to focus on your success, so let’s get in contact if you’re a supplier looking for positive sales opportunities.