Sales stagnation is a common problem encountered by floor coating companies. Even if a floor coating company is currently generating strong sales, it may struggle to generate sales in the future. Known as sales stagnation, it's a troublesome problem that hinders a floor coating company's ability to grow. The first step to preventing it, however, is to understand what causes sales stagnation for floor coating companies.
Sales And Marketing Misalignment
It's important for floor coating companies to align their sales team with their marketing team. If these departments operate independently of each other, they won't be able to share valuable information and resources that could otherwise drive sales. Granted, marketing teams and sales teams have different goals, but they can help each other achieve their respective goals by working together.
Using Outdated Sales Tactics
Floor coating companies that use outdated sales tactics are more likely to experience sales stagnation than their counterparts that use more modern tactics. Some sales tactics are time tested, such as cold calling, but others are ineffective and simply not worth using.
Here are some of the most commonly used outdated sales tactics in thefloor coating industry:
Account-based marketing (ABM) isn't just another buzzword in the floor coating industry; it's become a core concept on which countless successful floor coating companies operate. Unfortunately, some floor coating companies overlook ABM, resulting in stagnant sales. What is ABM exactly? Also known as key account marketing, ABM is a marketing strategy that involves treating individual prospects or accounts as a single market. Rather than using the same generic sales approach with all prospects, for example, you can create a customized approach for each prospect.
Targeting the Wrong Prospects
An effective floor coating sales strategy requires targeting the right prospects with the right offers. If a floor coating company simply mass-promotes its products or services to a general audience, it will struggle to generate consistent sales. Floor coating companies that specifically target highly qualified users, however, can prevent sales stagnation.
Disengaged Sales Reps
Perhaps the leading cause of sales stagnation for floor coating companies is disengaged sales reps. The success of a floor coating company is dependent on the performance of its sales team. If sales reps are disengaged, they won't put forth the effort to connect with prospects and convert them into customers. Therefore, floor coating companies should focus on training and empowering their sales reps.
One of the best ways to get your marketing and sales staff energized and working together is when there’s a common cause. If both sales & marketing realize there’s an identified project, they would work together to generate a new customer. SalesLeads brings marketing and sales together with identified Project Reports. These are targeted companies that are expanding, relocating or renovating their office facilities. The project reports supply information on the project, contact names, phone numbers and email addresses. Now sales and marketing can work together and close new business faster.