5 sales pipeline strategies to recession-proof your business

It is no secret that the global economy is going through a turbulent time. With many countries experiencing differing levels of bounce-back post-covid, the word recession has reared its ugly head, with many anticipating there is one on the near horizon.

But that doesn’t mean that your business must suffer too.

In this webinar, Daniel discusses five sales pipeline strategies that can help recession-proof your business and ensure you continue to grow and prosper.

Read on to find out more.

Top Five Takeaways

• The greatest data and sales teams have a certain level of paranoia and use it to their benefit.
• Ditch the vanity metrics and KPIs and focus instead on the hard facts and statistics surrounding revenue and profits.
• Keep an eye on your costs to root out inefficiencies that can get eliminated.
• Obsess over stakeholders when things are changing rapidly to ensure deals get over the line.
• Challenge what is possible regarding your sales pipeline, searching for low-hanging fruit and easy, quick wins.

The greatest data and sales teams have a certain level of paranoia and use it to their benefit

The term paranoia often has negative connotations, but Daniel sees it as a positive during difficult times. “I think the greatest sales teams all have some degree of paranoia,” he explains. “Everybody in sales knows the forecast is not always 100% accurate.”

He explains that paranoia allows sales teams to look at the risk of deals better and evaluate deals based on other metrics for further clarity and security.

Ditch the vanity metrics and KPIs and focus instead on the hard facts and statistics surrounding revenue and profits

Vanity metrics differ from company to company, but the statement still rings true. Many sales teams are coming from a period of growth and success, which can allow inefficiencies to slip in, which can lead to lots of metrics and KPIs that aren’t directly related to revenue and profits.

Look at the last 10-20 deals you won, identify correlations that lead to that success, and create your KPIs accordingly.

Keep an eye on your costs to root out inefficiencies that can get eliminated

“Of course, every CEO thinks about how their business can become more profitable or cost-effective,” admits Daniel. “But as we come out of this long period of a bull market, inefficiencies start to creep in, even for the best companies.”

Challenge what is possible when it comes to sales effectiveness, and schedule consistent reviews of costs to ensure there is no unnecessary spending. Identify your need-to-haves and nice-to-haves.

Obsess over stakeholders when things are changing rapidly to ensure deals get over the line

When things are changing more rapidly, it is crucial to keep in strong communication with all stakeholders and contacts at an account you are pursuing.

That also means removing deals that are unlikely to happen as early as possible rather than spending valuable hours wasted chasing these deals.

Challenge what is possible regarding your sales pipeline, searching for low-hanging fruit and easy, quick wins

“Can you work harder?” Daniel asks. He states that it is crucial to challenge what is possible while also going after any low-hanging fruit to get as many quick wins as possible.

For example, you may have clients who have CEOs that work across several boards of different businesses, giving you an in that you can pursue to generate more business.