How To Overcome Modern Sales Challenges With Solutions

Catch These Powerful Strategies Before Closing Your Next Sales Deal

If you are a fresh sales executive in the industry, chances are you may have encountered an interview where you were supposed to convince your employer to purchase a certain mock product. While it was a nail-biting experience at first, you won the job and you are now on your way to securing the next sales deal for your team, in hopes of earning that big commission. 

Today, PanPages Trinity will look to solve common sales challenges that you may face along the way with effective solutions that you can use to achieve profitable sales returns for your business. So, sit through the rest of this article as we uncover these strategies for your advantage. 

The Challenges You May Face When Securing Sales

When discussing modern sales challenges, the first element to monitor is how the company compete with their competitors. The market has turned into a battleground, with companies going to great lengths in hopes of outperforming their competitors. Statistics show that 79% of marketing leads never convert into sales. Most leads stop responding after a few initial interactions courtesy of demotivating salespeople. 

Getting a response from potential leads is now a major challenge because of the fallout from lead acquisition during the entire negotiating stage of the sales process. Prospects are not willing to make compromises or find a common ground to work out a moving solution as a result of the prospect's hesitancy, leading to misalignment among salespeople. 

Additionally, the majority of deals within the sales pipeline then become stalled at some point and eventually fall through the cracks. Several salespeople lack visibility into their sales pipeline, causing them to overlook many opportunities. Furthermore, the disconnect between the sales and marketing teams also contributes to one of the many modern sales challenges. 

Sales and marketing have generally worked in isolation, which can attribute negatively to lead handling and, ultimately, your ability to close deals at the same time. When marketing and sales work in distinct systems and manage data separately, data duplication and loss are near impossible to avoid.

Besides, it is not easy to build trust with clients online. Maintaining credibility with a virtual barrier between you and your prospects demands new techniques for differentiating yourself from your competitors. The final and obvious challenge within the whole sales process is to close the entire deal without many barriers. However, the increasingly competitive market has made this a great challenge to small and even established juggernauts in the mass market. 

The Solutions You Need To Overcome These Challenges

Now that we have revealed the challenges faced when doing sales, let’s look at some ways you can use to overcome these challenges for your benefit. As a starter, you will need to conduct an in-depth competitive analysis. Start it off by mapping out your competitors' main strengths and weaknesses. Then, determine your competitive advantage and explain it to the mass audience. A key tip to build your consumer's confidence is by sharing case studies and testimonials. This highly increases their trust in your business! 

Ever heard of the saying “consistency is key”? Well as cliché as it may sound, the truth is, when it comes to sales, you will need to be consistent until you win the hearts of your clients. Focus on maintaining follow-up appointments. After an appointment has been made, determine the best time to call or email the prospect. Once they have become your leads, use emails, text messages, and social media to connect with them. This will increase your response rate too. 

Next, is a step that can be tricky if you do not have the right strategies at hand - the negotiation. As daunting as it may sound, it’s really not a big challenge. All you need to do is research and explore new negotiation tactics when facing reluctant prospects. Follow it up by identifying your prospects’ pressure points and have them visualize the consequences of not addressing the problem immediately.

If you are running a modern business, consider implementing the best CRM for your advantage. Using CRM ensures that you will get a detailed analysis of each stage within the sales pipeline. In addition, it will allow you to progress on high-value deals by segmenting and prioritizing them accordingly. With a functional CRM, you will be able to skip unnecessary hassles and stay informed about the whole sales transaction. 

In some cases, marketing and sales may be parked in different departments. However, the reality is that both marketing and sales can actually be merged to work hand in hand with each other. Did you know that misalignment between sales and marketing can lose your business momentum up to 10% or even more of their annual revenue? Studies show that over 56% of companies with both teams aligned met their revenue goals, and 19% exceeded them. 

To build your business awareness effectively, make your salespeople the spokesmen or spokeswomen for your brand. Do this by allowing your clients to publish useful content that can be instructional and applicable to their problems on your company’s blog page. This content will act as a unique perspective supporting the difficulties of other buyers who could be also experiencing the same scenario as well. 

Another strategy is to consider sales enablement to help B2B buyers make better buying decisions. Over 95% of buyers pick a seller who provides ample content to assist them in their purchasing decision. 68% of customers are more positive about a brand after consuming its content. And 82% of at least five pieces of content from the selected vendor were viewed by its buyers. From these statistics, we can see that businesses that develop sales enablement practices stand a better chance at a 13.7% higher contract value rate.

Get In Touch With Our Team To Light Up Your Business! 

PanPages Trinity is an award-winning global trade solutions provider. Bringing you solutions that help your business export beyond local regions. If you are interested to know more about us or wish to get in touch with our consultants, just contact us right away and our trained global trade consultants will reach out to you with moving solutions that will excel your business further!