The sales of a company tend to suffer in situations of economic recession or crisis. With the decrease in purchasing power and the change in priorities of our target audience, the possibilities of consumption also decrease.
To avoid such an aggressive impact on revenue, many companies have had to reinvent themselves. Resorting to innovation and creativity to mitigate the effects of the crisis, can generate a significant flow of sales in these times.
To help you in this process, we bring you several key tips to adapt your sales plan to the current situation and increase your income! Keep reading! Do not stop!
How to attract clients in the midst of the crisis?
Technology is the key in this period because it provides us with digital tools and platforms to organize the available information and take advantage of it.
The times of crisis must become an opportunity for companies, where they can generate new business strategies through a sales plan tailored to circumstances and taking advantage of new technological tools to obtain key information.
Remember that one of the fundamental principles of sales is to meet the needs of customers. Markets move by solving the problems of individuals and that is what you should be looking for right now: offer solutions to your target audience taking advantage of technology in the process.
Within the Chilean context, many examples of this adaptation have been seen. Digital printing companies that started designing protective screens for medical personnel, copper stockings factories that started producing reusable face masks, are just some examples of how you can adapt your business model to the current situation and offer an attractive and necessary product.
How to make your audience make the purchase decision faster?
If you have already done everything possible to adapt your business model to the current situation, the key will be to integrate into your sales plan a strategy that improves trust, security, and concern for your customers. For example:
Boost online sales. If they can’t come, we’ll take it to them.
If you work with food, make the hygiene and cleanliness of the establishment, the workers and the products transparent.
Free delivery for purchases over a certain amount.
Offers in the goods or services marketed.
All these ideas will be essential to generate an emerging and value-added sales plan.
How can you do all of this in your sales plan?
The important thing is to keep the objectives clear during the implementation of the business strategy. In addition, consider all the obstacles that may be faced to develop the sales plan.
That said, when you reformulate your plan and adapt it to the crisis, you should take into account:
The type of client: the one you want to reach, according to the needs and problems you want to solve. Focusing on the right target audience is critical during the health crisis.
Income goals: Define how much you can get from those sales. It is recommended to think in the short term, a product of uncertainty.
The strategies for sales, optimization of goods, and/or services based on what customers are looking for and what the company has.
Commercial tactics, that generate curiosity within the clients, such as; offers, gifts, applications, dispatches in a short time, among others.
The deadlines for the execution of tasks: You must think that you act against time, according to current market conditions.
The formation of a work team that manages the necessary resources, since many MSMEs will be affected by staff losses, due to loss of sales revenue.
The resources you have: Optimize the available budget as much as possible, compared to the current situation.
Market Intelligence: a key tool to boost your sales plan
If you have many ideas about the opportunities that arise from the crisis, it will be necessary to apply Market Intelligence. Today there are many tools that can help you (Email Marketing, Online survey forms, social listening, etc.).
In addition, information is a necessary and very important tool for decision-making, where this will be a fundamental pillar when generating business improvement strategies.
Some specific advantages that companies obtain when using Market Intelligence to generate the sales plan are:
1. Needs will be opportunities:
The information collected when applying Market Intelligence within a sales plan will deliver necessary data that you must analyze: moments, trends, responses to problems, and everything that can be discussed through different indicators. So you can generate evaluations and projections.
2. Data analysis
It will allow your production team to generate products of higher demand and that your commercial team can sell under another approach. To achieve this, cross-sectional communication between all areas will be necessary, and thus be able to start the projected proposals in the shortest possible time. In this way, you can anticipate your competitors and create offers that they have not yet addressed. If you see an opportunity, try to evaluate it and execute it as soon as possible, because while you are thinking about an idea, others are already implementing them.
3. Boost in productivity
Real-time data analysis will allow sales managers to make decisions based on information from their real and potential customers. The idea is to achieve greater effectiveness in the different production, sales, communications, and distribution processes.
4. Knowing what customers want and need
It will generate a very effective impact on business and/or company decision-making. For example, you could carry out an online survey among your customers (offering some type of discount for taking the time to answer it), to optimize hygiene measures and preferred payment methods for home deliveries during the quarantine. Meeting the demand and needs of your customers will lead you to improve productivity and have better performance with your customers and/or users.
5. Update sales strategies
All sales processes can be adapted to the current reality of your company in the face of the health crisis. This is the key to being sustainable over time.
Modify your business strategy to overcome the situation. Now is where market data analysis for your sales will help you minimize your losses and focus your efforts on where the profits really are.
Remember that the use of Market Intelligence is essential within a sales plan. This will help you boost your business and get involved in the world of digital business strategies, thus turning this crisis into an opportunity. It is the only way to keep afloat in the face of the global economic crisis.
We hope this information has been useful to you and encourages you to create a sales plan focused on the needs of your current audience, making the most of their resources and exploring new opportunities.
Rahul is a content marketer at topglobals. He is an expert in studying the latest trends and talk about online businesses and growing businesses on the internet. Playing with keyword buttons with magical words are part of his passion.
About us and this blog
We are a digital marketing company with a focus on helping our customers achieve great results across several key areas.
Top Globals is a Leading Digital Marketing and Engineering Service company headquatered in India. Make us your Digital Partner and we will take care of all your Digital Engineering, Marketing and Development Needs.