How to Review and Change Your Sales Strategy

Text of my newsletter from 1st November

Seth Godin wrote about ‘The Dip’ some years ago.

His message is that the enthusiasm and excitement that comes with starting a new business wears off quickly, once you’re dealing with the day-to-day problems and frustrations.

That’s when your true desire to build something gets tested.

I went through it and, unless you’re lucky, so does every startup.

So if you’re feeling that your business growth has stalled, and you’re questioning the long term viability of your idea, you’re not alone.

But it is decision time.

It’s the time to stand back and make a brutally honest assessment of the market you’re serving, and the solution you’re offering, and reach one of these conclusions:

  1. I got it wrong and I need to wind everything up now to stop throwing good money after bad
  2. I’m nearly there: but I need to make some adjustments to my messaging and/or my product (or service)
  3. I got it right, but circumstances are against me

The need for brutal honesty is clear: I accept that you’re emotionally attached to your original idea, but if it’s wrong, it’s wrong.

Bill Gates’ initial business idea was called Traf-O-Data, and it bombed.

So if your idea is wrong you are in very good company!

As far as #3 goes, I have a personal example: I launched a new travel website in December 2019, just before the pandemic killed the travel market.

So I mothballed that site. It’s still live, but I stopped developing it and won’t start working on it again until the travel industry turns the corner.

Of course, at that point I may find that I need to adopt #2, and adjust my approach and messaging.

And conclusion #2 is the focus of this week’s theme.

This week’s links

So this week’s links are about ways you can review and make changes to your product or service offering, your marketing channels and your sales strategy, in order to push through the dip and create the growth you’re looking for.

41 online shopping statistics that will help you plan your sales strategy

The need for any business to have its own website is higher today than ever before – and its importance as an additional sales channel will continue to grow.

Agatha Aviso and Meaghan Brophy have set out 41 current online shopping statistics. They are focused mainly on retail, but the principles apply to any business website.

They are broken into 10 sections, each with key takeaways that provide valuable tips on ways you could improve your website’s performance:

41 online shopping statistics

How to use a website to grow your business

A good website is a 24/7 salesperson, able to handle multiple transactions simultaneously and grow your business.

A bad website is an expense.

Lucy Carney sets out 13 tips on how to create a revenue-generating website for your business:

Grow your business with a website

10 ways to increase sales

Most of my career, prior to starting my business, was in operational roles – ‘sales’ was something foreign and scary.

If your sales experience has been limited, these 10 tips will give you a good framework on which to develop a sales plan that will grow your business:

10 ways to improve your sales performance

5 simple, low-cost ways small businesses can grow their sales

When the sales aren’t coming, cash will be tight. Yet you don’t need to spend a fortune to kick start (or re-start) your sales.

Here are 5 low-cost, simple steps you can take today to review your business and grow your sales:

5 simple ways to grow sales

Fun flashback

I remember watching Deliverance when it first came out, a great movie. Here are Glen Campbell and Carl Jackson playing the Duelling Banjos from that movie – outstanding:

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Cheers,

Martin Malden

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Website owner: Martin has been working online since 2006 and focuses on two areas: 1) affiliate marketing and 2) designing and building websites based on WordPress. He has his own WordPress agency, and serves clients in Hong Kong, Australia and the UK.