“It is not the strongest of the species that survives, nor the most intelligent, but the one most responsive to change.” – Charles Darwin 1809
In the post, let us at the very onset pray for the health and safety of the sick and those at risk in this time in human history- Team ConvergeHub.
Nevertheless, for the sake of running our businesses, we will also discuss over here in this post that NOW is the time in this Coronavirus (COVID-19) affected world to make sure that your growth efforts in sales productivity are stronger than ever to help boost revenue in 2021 and beyond.
Since even during this pandemic there is the business of trying to keep your businesses alive as well as the businesses of your customers.
Now if you lookup for the keyword “Natural Selection” in Vocabulary.com this is exactly what you will read:
“Natural selection is the theory that only the strong survive. For example, the animals that can outrun their predators live to pass on their speedy genes; the slow are eaten.”
Therefore when the market goes down, the competitors in your marketplace get aggressive to defend their market share, and naturally, brands are faced with making budgets and fight to stop the onslaught of decreasing revenue.
Hence NOW is the time to make sure that your businesses’ efforts for sales productivity and growth are stronger than ever, and so if you do not put money, time, and resources into sales then (we are sorry to remind) you will have a difficult time to survive or you might live to tell the tale but the climb back will be a painful and a long journey in this crunch times.
Therefore, we as one of the most popular vendors of the best CRM for small and medium businesses in the Salesforce Alternative CRM space even though accept the fact that crunch time means tightening the purse strings and doing away with “non-essential” expenses, that list in general includes but is not limited to:
Nevertheless, as you go about crunching those numbers, we also recommend you to consider the following:
In these trying times try to think outside the box and be creative with using resources and money to drive revenue. Remember, it necessarily does not always take a lot of creativity to cut expenses.
Discontinue thinking “non-essential”
If any resources and expenses are non-essential, then do not currently be spending money on those items.
Think about wise investing
Consider where you can invest money, time, and resources that might act as an additive to your emergency business objectives and keep your company in the hunt for new businesses and revenue.
In other words, find a new way when you are considering how you must be handling your sales teams and you can help them achieve better during this global COVID-19 pandemic and difficult times.
Now as you go about crunching, one thing that we can recommend to our readers is to strategically pair down your sales team to boost your businesses’ profitability and ROI.
For example, a couple of years ago we assessed an alternative lending group of 90 participants as one of the most popular Merchant Cash Advance CRM software vendors in the USA. And of the 60, this is how the numbers worked out:
The top 1/3 members of this group (20 lenders) represented over 80 percent of the revenue from existing business, which should not be surprising as it is consistent with the Pareto Principle.
Therefore what we mean over here is that you should never consider an early retirement strategy to manage expenses but rather be more strategic in who you let go.
Moreover, you should also now consider how you go about with your new hires since this is the time you should be hiring since many companies will downsize the wrong people for wrong reasons, and so now is the time to pick up great sales talents from your marketplace.
Now, if you want to be selective, you can use pre-hire assessments which can help you to accomplish a critical objective like use the ‘Ideal Fit’ strategy so that you can exactly identify what it takes to be successful in generating sales productivity in your company.
Finally, you should take up the resolution that developing and training this present team that has not undergone these competitive and dire conditions before is absolutely critical and so to accomplish that you can take the advantage of distance conferencing and other similar technologies to improve the skills of your sales team and change their behaviors accordingly.
This is because nowadays with stellar growth in technology you no longer have to pull people out of the field into a conference room for a full day to find an impact on their sales productivity skills. For this use a micro-focused strategy to just address specific “chock-points” in the execution of your businesses’ sales processes and conduct just a few hours session that involves role-plays, drill for skill, to boost strategic development of your team.
Yes, you will have to take actions over the next several days, weeks, and possibly months to outrun your competition and not be eaten in these trying times, but to do that your organization must be stronger and faster than ever before.