Are your sales down and you don’t know why?
Although there are many possible reasons for a drop in profits, here are seven potential reasons why your sales are plummeting.
1. Your Salesforce Is Unprepared
Cultivating top talent is often a tough task since you need reps who are smart, dedicated, hardworking, passionate, and willing to learn. Sales enablement is an easy way to ensure your employees have the tools, strategies, and knowledge to succeed.
2. Confusing Quotas
Unrealistic or unclear quotas are a major killer of motivation and morale within any team. It could be the reason why your sales are plummeting. If your reps know exactly what benchmarks they are required to meet, they can operate with clear goals in mind.
Try incentivizing high performance by gamifying their objectives with a leaderboard or a prize for top performers. If you focus the attention of your reps on a specific goal, they will be less inclined to prioritize tasks in their own way.
3. Under-Motivated Staff
Your staff could potentially be unhappy and thus under-motivated to perform to the best of their ability. It’s ultimately up to you to motivate your employees, whether it be with fun and creative contests or by simply acknowledging and rewarding hard work.
An unmotivated team is an unproductive one, so it’s important to identify staff malaise and remedy it.
4. Poor Website Design
Your website is the first thing potential customers will see upon researching your products or services. If it isn’t up to date or visually appealing, you are doing your business a great disservice. Website technology, design tools, and popular trends are constantly shifting, so your website needs to stay relevant to ensure buyers come back for more.
If your website is poorly designed or if you’re unintentionally obscuring your central message, you may also be stifling any integrated calls-to-action and leaving potential buyers in the lurch. Give visitors clear instructions and freshen your outdated website by featuring a call-to-action button.
5. You’re Not Mobile
In a similar vein, consumers these days are more and more mobile—the majority of browsing and shopping is now done via smartphones. Simply put, if visitors to your site become frustrated by your website’s lack of mobile functionality, they will leave unsatisfied and will most likely never want to engage with your business again, thus damaging your bottom line.
6. De-Valuation of Your Product or Service
Although giving exclusive deals is an effective marketing technique, the key to closing isn’t always offering a discount to the buyer. By cutting prices, you may actually be devaluing your product or service in a way that can hurt your margins and decrease profits.
It’s important for marketing and sales teams to get on the same page and work together to appropriately value products or services.
7. Outdated Selling Techniques
Outbound is out and inbound is in. Some old-school selling methods need to be discarded entirely. For instance, reliance on cold calling or going door-to-door may be the reason behind your business’ plummeting sales, since these older kinds of techniques just don’t work anymore.
Invest in Your Business
There is no clear fix for plummeting revenue, but if any of these reasons stand out to you, you should address them in your business! If you’re stuck, don’t be afraid to seek help.
Posted By Author Mike Lieberman, CEO and Chief Revenue Scientist
Mike is the CEO and Chief Revenue Scientist at Square 2. He is passionate about helping people turn their ordinary businesses into businesses people talk about. For more than 25 years, Mike has been working hand-in-hand with CEOs and marketing and sales executives to help them create strategic revenue growth plans, compelling marketing strategies and remarkable sales processes that shorten the sales cycle and increase close rates.