- Analyze which products, which sales team, which channel and which territory is the problem. Based on the answer to 1.
- Rewrite your marketing content that generates leads.
- Restructure your web site and deploy SEO.
- Invest in a new world-class sales process.
- Test the product knowledge of all sales teams.
- Rewrite all sales scripts to reconcile with the new marketing narrative AND to ensure every script has clear next steps.
- Role-play all new sales scripts using the new sales process.
- Conduct a comprehensive price comparison across all competitors.
- Find 10 customers that love you and remind yourself why.
- Kill all products where the problem you are solving has gone away or can be solved for free.
Now if after, before or during this frenzy of activity you believe it is your market not your company that’s the long term problem – Reposition into a profitable niche where your skills are credible as fast as your cash flow allows.
I think #1 is the most important action you need to take. If the sales have been dropping for some time you have to undertake thorough review of the business to find the source of the problem. It could be the product, customer service, bad economy. new competitor or any number of reasons. It is only by analyzing the situation you can put your finger on the possible cause and take appropriate action.
Harry, can’t argue with that. Discovery is a key phase of the solution. Of course when sales are going well it’s just as important to know why as well!