A sales decline can be worrying for any business. The key is to get to the bottom of why you’ve had a drop in sales.
Once you’ve done this, you can put a plan in place to get your business back on track. So, with that being said, let’s take a look at some of the common reasons for a decline in sales :
Lack of motivation
Are your salespeople in a bit of a slump? A lack of motivation is something we all experience from time-to-time. However, it results in reduced productivity, and this causes sales to decline. There are a number of ways to get your employees back on track, from team bonding days to running sales competitions.
Ignoring your competition
Perhaps your competitors have just come out with a new and innovative marketing campaign combined with a top-of-the-line product that is unmatched in the industry?
If that’s the case, it’s of no surprise that your sales have declined. Your customers have moved to the competition. Competing businesses need to be on your radar all of the time, enabling you to react quickly and effectively.
Old-school selling techniques
If your team is going to continue to reach sales targets, they need to move forward and stay up-to-date with the latest techniques. If your employees are still using old-school selling techniques (yes, we’re talking about door-to-door sales and cold calling!), it’s time fora change.
Poor sales and marketing alignment
Finally, another common reason for a decline in sales is when the people on your marketing team aren’t collaborating effectively with those in your sales team. If there have been recent changes in your marketing strategy or personnel, it is worth looking into this further. After all, your sales team depends on your marketing team to give them qualified leads.
As you can see, there are a number of different reasons why you may have experienced a sales decline. One effective method for enhancing sales performance management to ensure you keep on track is by using Commissionly. This is the first cloud-based sales commission and sales compensation management web app that has been fully designed for SMEs.
Contact us today for more information.