You might be nibbling on your nails right now if you’re a sales leader. With the annual holiday sales slump quickly approaching, is your team prepared to rise to the occasion and beat the holiday sales slump this season?
The holidays can be an especially difficult time for businesses for various reasons, including delays caused by the absence of key decision-makers and fiscal calendars coming to a close. Consider that and the busy nature of the season and the many distractions and commitments that come with it. Now is the time to get your crew pumped and in a positive frame of mind.
The following holiday selling tips, tricks, and techniques are among the go-to approaches for overcoming any seasonal sales slump. Conclude 2021 on a high note, ideally with a year-end sales bump!
Plan Ahead To Keep the Sales Funnel Flowing
It is never too early for team leaders to begin diligently planning, circling significant dates on the calendar, making essential calls, putting quality people and resources in place, and doing all they can to prepare for the approaching holiday sales slump. A clear vision backed by solid preparation is all that’s required to obtain a strategic edge over the competition.
Planning ahead for holiday interruptions and closing fiscal calendars helps to set expectations for forecasts. Planning for these ebbs and flows can give you the time needed to adjust sales activities to keep the sales funnel from slowing. It can be difficult to ignite new leads and nurture existing ones during this season so plan ahead to give yourself the time needed to transition into this time of year with a full and active funnel.
The Time Is Now O’Clock to Get Ready
When overcoming a sales slump, it’s critical to refocus your team, adapt your sales activities, and optimize your pipeline for closing deals around the holidays. Concentrate on transactions that can be completed by the end of the year. Make December appointments with prospects in October and November to boost year-end sales.
Additionally, assist current clients who wish to implement by the new year in working backward to assess the time needed to execute their plan correctly.
In order to avoid time spent out of the office, all contract deadlines should be set for December 10th rather than December 31st. This may also be an opportune moment for upselling and inventory liquidation as your previous deals and promotions expire.
Upsell, Upsell, Upsell
Upselling to existing customers is a sound business practice throughout the year, but it can be particularly beneficial to your bottom line when overcoming a sales slump.
If this is your first experience upselling, start with the basics. The more options you present, the more likely buyers will become confused. Begin with a few product boosters, or consider bundling items or services. This will increase the appeal of your items, especially if clients notice that they would receive a discount for purchasing more.
Bear in mind that it’s substantially more expensive to pursue new business than to nurture present partnerships. In fact, gaining a new client costs up to 25 times as much as retaining an existing one.
Across the board, sales data reveals that loyal clients are worth many times their initial purchase price and are substantially easier to market to than new consumers. Client retention is critical throughout the year and can make or break a company’s profitability, so pay special attention during a sales slowdown.
Using Your Prospect’s Vacation Time to Your Advantage
Determine as soon as feasible when key deal decision-makers will be unavailable to ensure that your activities are scheduled appropriately.
For most individuals, the holiday season is a time for enjoyable family holidays, travel, and leisure. In fact, they anticipate it all year. Understanding this provides you a significant advantage since you are better equipped and prepared to work around this timetable.
Executive decision-makers across all levels of management want to accomplish as much as possible before embarking on their travel plans. For this reason, they are more inclined to make a yes or no decision sooner to avoid procrastinating and leaving things unmanaged.
Similarly, attempt to capitalize on the high volume of incoming tourism that generally occurs during this season. If you know in advance that a high-profile prospect will be in town for vacation, you’ll be in an ideal position to introduce yourself and your product or service personally.
Take care not to obstruct their recreational activities, but rather contribute to their experience: a fun round of tennis or a quick “insider’s” tour of your city, for example.
Get in the Holiday Spirit
Sometimes, a sales slowdown just indicates that it is time to tend the soil and seed the ground in anticipation of the next harvest. Sending holiday cards or gifts to your most devoted clients is an excellent approach to demonstrate your gratitude for their business and to keep your organization front of mind.
On a similar note, now is an excellent opportunity to offer prospective clients nurturing and educational information about your product or services.
Make it a goal to wish at least 1,000 strangers a warm season’s greetings. Spreading holiday cheer with only the finest intentions is an ideal way to establish rapport with a new target group. Plan your January activities based on the emergence of fresh possibilities.
Commit to Your Development
A momentary lull in sales activity does not have to be useless. Take advantage of the chance to purge your email inbox, workstation, and filing cabinets. Evaluate your year, including your successes and shortcomings, and resolve to improve your organizational skills for the coming year.
Perhaps the best of all holiday selling tips, commit yourself and your business skills development. During this period, hire a sales coach, read sales books, attend corporate training, and continue to evolve your selling abilities.
Maintain a competitive edge by staying current on all cutting-edge trends and technology. Read content from your industry and adjacent related sectors, and even from less related ones. The more knowledge you have, the more fantastic ideas you will generate.
An Ounce of Prevention
Staying several steps ahead is usually an intelligent habit in the frequently fast-paced world of business. An ounce of prevention, as the adage goes, is worth a pound of cure.
While you’re busy closing deals around the holidays, don’t forget to start planning for the next year. Evaluate the cadences of your sales activity, the tools that you use, and the segmentation and prioritization of your accounts, along with your budget. Reprioritize your master list of goals, and ensure everyone on your team understands the big picture.
When managed properly, this time of year may be highly advantageous for your organization. The holidays present a fantastic opportunity to reconnect with clients, express gratitude for their commitment throughout the year, and delightfully reward them.
Bonus Tip: Spread Cheer to Your Network
As you continue to develop novel methods for providing your clientele with greater convenience, conviction, and connection, be encouraged by the numerous additional profitable exchanges that your holiday sales initiatives will generate, such as increased brand awareness and perceived market value.
In the meantime, have fun being the bringer of glad tidings! This is the ideal time to gingerly remind prospective clients that you can guide them in starting the new year off on the right foot, essentially aiding them in moving their business forward while simultaneously boosting your own.