I hope you feel rested, energised and ready for a successful year. One way or another 2023 is going to be huge.
As is typical at this time of the year, the media is full of all sorts of predictions about what is in store for us in the year ahead. You will be very aware that there is concern for the global and local economy, and many economists seem to think that a recession in 2023 is unavoidable.
Thankfully, most of us in the sales community are far less pessimistic and choose to play what is in front of us, whilst also investing a little bit of attention to preparing for a Plan B. I’d also point out, that so many of the predictions that have been made from ‘experts’ over the last 3 years have proven to be wildly inaccurate, prompting us to cling to that hope.
As I put pen to paper for this January newsletter, we are in the final stages of compiling our annual ‘Mood of the Sales Leader’ report where we survey the mood, sentiment and current state of thinking from close to 400 of NZ’s Sales Leaders & Salespeople. Since the first edition of the Mood in 2018, the NZ Sales community has in the main been remarkably accurate in their predictions of the economy. A bit of a spoiler alert, but in the upcoming report (due to be released on 25th January), Sales Leaders in this latest survey have a much more positive outlook, even when compared with the most optimistic economist. Time will tell.
However, in the meantime it is prudent to prepare for an economic slowdown, and all businesses should recognise that the quantity, quality and the focus of your sales team should have a significant impact on the success of your business in 2023. In fact, we will wager that your sales performance is one of your most critically important areas of your business to get right in times of a tightening economy and marketplace.
So here are some suggestions and ideas to help you to make sure you have a successful year in 2023.
- Keep your best clients close – if competitors become more aggressive due to falling revenues, remember that your best clients are your competitors’ best prospects. Expect your sales team to have a constant awareness of the health of the relationship and maintain close communications with their best clients
- Keep your best salespeople close. Once again, your best salesperson is likely to be a good prospect for other companies in a talent short market
- Be strategic with your most valuable customers & relationships - remember that some customers may reduce their purchasing from you in a slowdown but don’t reduce short term support. That will be the detriment to your long-term customer relationship
- Be even more customer focused – your knowledge of your clients will only increase your value as a partner
- Don’t go into your shell – now is not the time to slow down your sales effort. Continue to invest in sales and marketing
- Do what others are not doing. The way to stand out in any market is by doing what your competitors are not
- Tell better stories, be more creative, use less words to share more.
- Salespeople should never rely solely on inbound leads. Time to get busy to fill your pipeline
- Your Sales Leader should be the most important asset you have for your sales performance – both for your company and also for your salespeople. Invest in them, support them, and ensure they are well resourced
- Don’t get left behind with your technology. The longer you take to invest the harder it will be for you to catch up.
- Remember that business is personal - so act like it
- Stop selling and keep adding value
- Don’t rely on others or ‘bluebirds’ for your success
There is my first rant for 2023. Looking forward to sharing more in 2023!
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