3. Act with Purpose:
Rely on Insights and Information
We recently surveyed sales leaders across 30+ growth companies and learned that, while most expected their businesses to remain resilient in 2022, many are preparing for choppier waters in 2023. While we cannot predict the future, we encourage leaders to deepen their customer relationships, plan and prioritize key strategies and – importantly – proceed with some caution in the upcoming quarters.
Understand and commit to your customers. It is important to know qualitatively and quantitatively what success with your product or service means to your customers. Those customers that are unable to quantify success may need coaching from your team to bring them along for the journey. Finding mutual success factors and outcomes will help build a long-lasting partnership and reduce the risk of competitive threats.
Plan for customers’ budgets and behaviors to change. While many leaders will continue to invest in their business, they may get more selective and strategic about their spend. What changes can you make proactively to align your products and services to your customers’ evolving strategies? Is your sales team equipped to effectively communicate those changes to your customers and prospects?
Create visibility into your key segments and channels. Build an understanding of the levers and expected outcomes for each customer segment and sales channel. Consider the opportunities and risks associated with each; compare the potential benefits and opportunity costs of focusing on fewer, bigger “rocks” versus adding more “pebbles” to fill the gaps. Serious scenario planning can help your team build the conviction required to reallocate resources when needed, focusing on the segments that are working and steering away from those that are not.