12 May Why Do You Need to Restructure Your Salesforce to Accelerate Out of This Crisis? (Forbes Article)
“So, what are the changing business conditions that are creating challenges for your sales efforts and your salespeople?”
Even though I asked this question in my June 2019 Forbes article, I realize that NOW is an even more relevant and urgent time to ask the same question.
Neel Kashkari, President of the Federal Reserve Bank of Minneapolis, in a conversation I participated in last week, had this important insight for us as business leaders. Our economic recovery will not be a short, V-shaped, snap-back recovery. Instead, it will be a gradual, more measured journey.
I believe the success of our recovery will be determined by how smartly we, as business leaders, restructure our sales effort. Even though the nature of the challenge has shifted, the principles I discuss in the Forbes article still apply.
Consider these 7 Critical Sales Situations
Consider these 7 Critical Sales Situations, which I reference in the Forbes article, before you start making big changes to restructure your sales force in order to meet today’s challenges.
Which of these 7 are you dealing with? Or, do you have your own Critical Sales Situation?
- Introducing new products and services: You’re in the middle of launching innovative new products and services, and then March 15th hit! What do you do now? Which of your salespeople can proceed confidently considering this economic wrinkle?
- Shifting markets: Your high-growth market was already flattening. Which of your salespeople will be able to maintain margins? They’re facing an economy where buyers will be reluctant to let go of their money – if they have any left?
- Intensifying competition: The competitive landscape is changing even more rapidly. You once were a dominant market leader. Now your salespeople are up against competitors who are already dropping prices dramatically just to get cash flow and stay alive. Which of your salespeople will be successful in this selling situation?
- Acquiring another company: The new company acquisition looked like a great strategic addition…until 3/15. You were starting to see gaps in the selling competencies of the newly acquired salespeople. Now, the gap is widening. And, you don’t have the time or money for a wait-and-see approach. You have to make decisions now on who’s going to stay and who needs to go? Which salespeople can help ensure your new acquisition is profitable in the midst of this mess?
- Changing go-to-market strategy: You realize the demographic shift in both your clients and your available workforce requires a change in sales strategy. However, with an economic recovery that’s a gradual process, is there a way to get quick results with your new BDRs?
- Adjusting Pricing position: Your strategy calls for selling a solution that provides value. Now the need for consultative, value selling will skyrocket. Which of your salespeople are ready to execute this shift? Who needs to be shifted to deal only with the transactional sales?
- Shifting target client: You’re not confident that your salespeople can successfully transition to full-time online selling. What do you need to do to keep your remote team motivated and productive?
Whether it’s one of these Critical Sales Situations or something else, they all require keen insights to smartly restructure your sales effort to maximize this gradual, more measured recovery.
So, what should you do?
Contact us for a Smart Size Discussion
These are the concerns I’m hearing every day talking with presidents, CEO’s, and business owners:
- How are we going to hang on to our top customers?
- How in the world are we going to hit our 2020 numbers – this is a big hit?
- How am I going to make payroll?
- Which salespeople can actually help us make it through this crisis successfully?
Many confess that they will need to restructure, or smart size, their salesforce to reach 2020 revenue goals. However, that’s a nerve-racking task, filled with potholes and mistakes that can cost the company big time in the long run unless you have accurate insights to make decisions.
Call me for Smart Size Discussion, a free virtual coffee meeting, to discuss what step makes sense for you, based on the unique set of conditions you and your team is facing.
Leadership Lesson: Before you start making big restructuring changes, consider all the critical areas that might impact your unique situation.
Leadership Question: How will you determine if your sales force is structured appropriately for the challenges you’re facing?