In this era of unpredictability and massive business shifts, sales have taken on a new dimension. As a salesperson, you’re likely wondering, is it easier or more challenging to make sales now? The answer is not straightforward, but one thing is certain: the only way to succeed in today’s market is to up your game by improving your competencies as a sales professional. In this sales coaching article we explore some of the challenges you’re likely to face and how to overcome them.
Increased price sensitivity is one of the most significant challenges salespeople face today. In a market where your customers are looking for value at every turn, price is one of the most significant obstacles you need to overcome. Focus on making your value proposition clear and demonstrate how what you offer delivers more value than your competitors. We emphasise this in sales coaching all the time, clear communication and negotiation skills are your weapons to overcome this challenge.
Increased competition is another challenge. In today’s fast-paced world, it’s relatively easy for a new competitor to enter your market, and if you don’t have a unique selling proposition or competence that sets you apart, you’re at risk of losing the business. To stand out in a sea of competitors, you need to focus on customer service, relationship building, and providing an outstanding experience for your customers.
Longer buying cycles can be frustrating, but they may be the new reality of sales. Customers are becoming more informed about products and services, and they take their time before buying. The key to improving your success rate is to understand the needs of your customers, build trust, and patiently guide them through the buying process. As a result, you’ll have a more loyal customer base in the long term.
Reduced budgets are a reality that salespeople need to factor into their strategies. It’s common knowledge that many businesses have tightened their budgets which means that you need to offer customers a value proposition that fits within their budgets. The only way to do that is to fully understand what your customer needs and tailor your sales pitch to meet those requirements.
Increased pressure to achieve sales targets can result in burnout. While this is not a problem unique to this era – sales targets have existed for centuries – nowadays the pressure is higher, and the stakes are greater. To overcome this challenge, focus on the processes that work best – relentless prospecting, building relationships, providing value, and understanding your customers’ needs. We cannot emphasise enough the importance of prospecting. Without a continually churning sales pipeline your sales career is like an accident happening in slow motion. It may seem fine now, but eventually the lack of prospects will catch up to you.
Salespeople face a host of challenges, however it’s essential to recognise that the key to success is not what you sell, but rather how you sell it. It’s more critical than ever to up your game, improve your competencies, and provide outstanding service to your customers. The world may be unpredictable and ever-changing, but by focusing on what you can control, you can succeed in any market. Keep learning, keep improving, and keep selling!
“Without a strand of competence in your DNA, you do not make a difference. With a strand of competence in your DNA, you are the difference!” – Mark Keating
Looking for more advice on selling in the modern world? Our sales coaching team has decades of real-world proven sales experience across all the major industries. We also offer extensive sales training and sales management courses, live events and keynote events throughout the year. Get in touch today!