Covid-19 is the most significant ‘black swan’ event in a generation and as such Revenue Generation opportunities are low on the ground. Few businesses could have accurately predicted the onset of the virus and even fewer were equipped to deal with the eventual fallout. There’s been mass layoffs, lockdowns, and the largest economic contraction since the Great Depression and increasingly organizations are not looking at their growth, they are looking at survival.
Revenue generation has become a significant struggle as the pandemic has worn on. A business reset is the only answer for an organization looking to increase both the sales that they generate as well as the value that they can serve to employees and customers alike.
Covid-19 is now a global emergency. As lockdowns have lifted, we’ve seen R Numbers increase worldwide and as we approach the end of 2020 it’s foreseeable that we may have to return to lockdown once more. The question is, what should businesses be changing before this eventuality plays out? By driving lead generation in a digital-first world, enabling the seller to engage the informed buyer, and redefining the sales culture in the ‘new normal’ businesses can better position themselves for an uncertain future.
Redefining Sales Culture and Revenue Generation
Your sales culture, the attitudes, values and habits that characterize your team, are not as measurable as other indicators of productivity, but that does not mean that it isn’t equally important. Prior to the pandemic, the question of how to nurture a positive sales culture that inspired productivity and protected wellbeing was already pertinent, but alongside the proliferation of remote work, the challenge has steadily evolved.
Naturally, the sales culture of any respective organization will be forced to develop and adapt to the amplified gap between buyers and those they purchase from, the key is to get the balance right. Executives should not see the coronavirus as an impenetrable crisis, but as the means by which they prepare the organization more effectively for the future.
Obviously, for sales teams working remotely, executives must create the means by which these staff members can work effectively, helping them to implement a stack that allows for both internal communication as well as reliable video calls with potential prospects. But broader cultural changes need to occur across these industries.
Salespeople, perhaps more than any other staff member in the modern organization, are anxious about job security and other personal challenges, supervisors that push and seek to control may only amplify the stress that these teams face and, as such, times call for sales managers to shift their focus from pressing for performance to supporting their people. A failure to do so could result in staff burnout.
According to recent statistics, 80% of US staff are concerned with their financial well-being over their physical health (78%), it’s important to reassure your staff where possible that you can assure their financial staff as it will help to boost the morale of remote work staff.
Remote culture is fast becoming a pertinent consideration for businesses the world over and in the US, executives are pushing to seek out improvements. According to a study by TELUS international, a slight majority of U.S. employees (51%) feels less connected when working from home and when asked what they missed most about working in the office, U.S. employees cited small talk and interacting with colleagues the most (57%) followed by in-person collaboration with a team (53%) and having a separation between work and home (50%).
To learn more, download the full report here or continue the debate either at the RevGen Insight Summit EU or Revgen Insight Summit NA, two GDS Summits where we bring together senior sales executives who are actively seeking to share, learn, engage, and find the best technology solutions.
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