Due to the current crisis, sales reps are facing a new set of challenges due to the economic uncertainty.
A recent LinkedIn survey of more than 500 sales professionals indicates:
- 51% of customers are experiencing budget cuts.
- 45% of specific industries they sell into are at a standstill.
- 42% saw turnover or layoffs at their customers’ companies.
The economic impact doesn’t stop there. A majority of executives have noted cost management as a top priority over the next 12 months, regardless of whether the company has a positive revenue outlook or not.
Over the next year, sellers can expect to see spending cutbacks, budget lockdowns and vendor consolidation as part of the norm. Frugalnomics is in full effect, meaning buyers are more economic-focused and risk averse than ever before, making it harder to get to “Yes”.
So how do you overcome this challenge? We’ve got specific and proven advice for you here –
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