How to keep lead inflow even in economic downtime

How to keep lead inflow even in economic downtime VLMS Global

Everyone is aware that the economic climate is unpredictable. The company situation may improve or deteriorate. Due to the pandemic, the world has recently experienced challenging economic times. This challenging scenario has taught all firms to maintain their strength. However, companies are racing to generate more leads to attain higher revenues. Sales development representatives (SDRs) are thus under more pressure than ever to create leads. However, there are still many ways to obtain leads during a recession, despite the difficulties.

Strategies for generating leads during a recession

Adapt the message

The most crucial action to take when trying to generate leads during a recession is to adjust the messaging. Many SDRs continue to act as though everything is fine, which results in incorrect information being spread at the wrong moment. Therefore, acknowledge that the economy is having a (very) difficult time and make sure your messaging reflects this rather than assuming that everything is fine.

Increased sales activity

Budget cuts and layoffs are inescapable under the current global crisis. You will inevitably miss more opportunities as a result, therefore you will need to boost your sales activities to make up for it. So, instead of sticking to your daily call limit of 10, consider boosting it to 15 or 20. Consider increasing your daily email output to 100 from the previous 50.

Even in a challenging economy, you may increase your sales activities to produce more leads and ultimately more sales. Right, common sense?

Keep in mind the principles

You will never experience a period where generating leads is as difficult as it is right now. Therefore, pay attention to the basics, which SDRs are well aware of.

Concentrate on producing high-quality leads, following up with them frequently, and maintaining a tidy and structured pipeline.

Make an offer to support your meeting requests

Alternatively, if you run a consultancy, you could offer to conduct a complimentary audit for them to assist them to find areas where their company may be improved. This will provide the impression that the potential customer is receiving something for nothing, which can be a wonderful driver in trying circumstances. 

Concentrate on clients who are still hiring

Earlier, we discussed how to increase your sales activities. The prospects who are still hiring, though, should also be your first priority.

That's because if a business is employing, it's usually expanding and has money to spare.

Therefore, favor those accounts that are still hiring above those that aren't when you're seeking for warm prospects. This is a fantastic technique to identify potential customers who are still willing to purchase your services.

Focus on niche

Focusing on specialist markets is another excellent strategy to get leads during a recession. But once more, avoid concentrating too much on your product's advantages. To put it another way, avoid focusing on how your business will benefit them. Instead, concentrate on the potential consequences of disregarding the offering for them.

Highlight efficiency

Naturally, you should emphasize at least a few benefits of your product in your marketing. Among these advantages, be sure to call attention to efficiency the most.

That's because people want to conserve money and time when the economy is bad. So, your chances of generating leads will be significantly higher if you can show how your product would assist them do that.

Bottom Line

In these trying times, remember that shortcuts won't cut it. It's time to be imaginative with the sales strategies and put your hands to work. Concentrate on accounts that are still recruiting, provide a gift when setting up a meeting, emphasize how your product may boost the prospect's productivity, and concentrate on specialist markets.