How to increase sales post Covid-19 I Are basics really going to help ?

With  31,787 confirmed cases and 1008 deaths in India. International Monetary Fund (IMF) have further slashed India's growth rate estimate for FY21 to 1.9% from 5.8% as estimated in January. IMF even termed it as the "worst recession since the great depression" 

Source - https://economictimes.indiatimes.com/news/economy/indicators/imf-projects-indias-growth-rate-at-1-9-in-2020-forecasts-global-recession-due-to-covid-19/articleshow/75142792.cms?from=mdr

From my point of view, the bigger challenge would be post lock-down and I term it as the "Financial Covid". Yes, post lock-down every company would be in a rat race to boost their financial performance or survive either by raising loans, equity, downsizing, or increasing revenue by panic selling to potential customers. In short, all these measures are not in the hands of company and depends on various policies and regulations laid out by the Government, except one and that is SALES (includes product as well as service). It is completely organisation driven (provided manufacturing and servicing competencies are achieved). Sales is like food, oxygen and shelter for an organisation.

One positive thing about this is that it's not only happening to a single individual/company, it's happening to everyone.

So this brings me to a question !

How are sales people who have always been accustomed to sell in good time supposed to excel ? Let's admit it none of us have been trained to achieve sales target in this scenario. How many of you have heard from customers that, "Hey, I like your product or service but I don't have the budget" There are no training programs which will give us a road map for a sure shot sales conversion. So, What's next ? Are we supposed to wait, wait, wait ! till situation gets back to normal ? Well, majority of us would think of it as possible strategy.  However, I have some different opinion, if everyone is planning to wait and do nothing how can we possibly change our current situation ?  

Neither I have 10-20 years of experience in sales or strategy nor I am from an Ivy league B-school, I am just a sales and marketing enthusiast who has a different thinking from the conventional business protocol

Let's start with an example of  Digital Media - With various digital campaigns I have seen, there has been an extensive use of ads on social media, which channels a potential customer to a landing page, then a sales page and so on as per the funnel designed by the marketing team. This funnel creates a desire for the product among the consumers, which further increases their need to purchase the product and  satisfy their need. This is definitely a good strategy in time when economy is good and consumers has purchasing power. It's said digital media is bringing customers closer to company, which again is a debatable topic. One school of thought may say, it is bringing customers closer ONLY to the technology and lacking humane touch, while others may support it explaining the benefits of low CPA (Cost per Acquisition) per customer and it may go on. With both parties being right in their places, there's a still a gap which is leading to the debate. The gap I am addressing over here is the BASICS. 

Firstly, let's define what basic is, Is it the strategy to we used in 2008 recession? Can we use the same strategy used by Company A,B, and C ?. If you ask me, basics are never the same in business. We need to change the basics with time or we would be left behind. So, if we think about going back to basics, which is nothing but going back to the position we were when the basics were relevant. 

According to me, the basic of selling is "whenever you convert a prospect into a customer, you will need to find better prospects to take it's place to grow in the long run"

With the marketing campaigns I have seen, the big mistake was, they got satisfied with the huge initial success and stopped the marketing campaigns. Even I did this mistake and had to face literally zero sales for coming few weeks. Ideally, they should have laid out a strategy to nurture the existing customers and modify their funnels for new prospects. Well, you know strategy that worked last time need not necessarily work this time. 

How to perform and excel in this ambiguity then ? 

Let's see the following suggestions,

1. Think of your customer's customers, gone are the days when selling was just between buyer and seller. Now, the sellers needs to take into consideration how his/her product or service will help the customer to satisfy the needs of their customer. This strategy will ensure that your taking steps to improve the current position of your customers across the value chain!
2. Money is there in the market, to tap it one needs to take steps which he/she never would have taken during pre- Covid-19  period, challenge the old school strategy and experiment with it rather than waiting and thinking about success.
3. If customer is budget constrained, don't lose faith in your product. Your belief in your own product is what will stand true in front of customers. 
4. DARE TO THINK THE IMPOSSIBLE - Yes, one should always aim for achieving high paying customers. No matter how impossible it may seem. For instance, How many of you have a not so good looking guy, with a girl much beyond his league ? Well, Yes! That's the dare to think the impossible I am talking about
5. Prepare detailed financial projections showing revenue increase for him by using your product or service
6. NEVER NEVER NEVER settle for low price, because you will be cannibalizing your own product, focus the attention of customer from cost to revenue that your product or service will help him generate 
7. ALWAYS ask for referrals from your customers!! 
8. Get out of your comfort zone and make the customer feel special
9. Transform the role of Sales Executive to Business Consultant, because you are not only responsible to sell your customers the products or services but you are also responsible to ensure your customer earns revenue from it 
10. Never take no for an answer, may be your potential customers is just checking how much faith you have in your own product. Trust me, most potential customers give you appointment only on your 4th-5th call
11. Always follow up your call with an email as a kind gesture
12. Lastly, economies don't run people; people create and run economy

Comment your suggestions below and let's discuss !