Our target market has become smaller. Shouldnt I be investing more in marketing and advertising rather than sales training?
Advertising and marketing can be an important part of a comprehensive business development strategy and should be continued if the programs have been accomplishing their objectives. Investing more money, however, to reach fewer people as the market shrinks may not be the best strategy. If your salespeoples challenge is to get a bigger piece of what has become a smaller pie, than they will surely have to change their sales approach. With a smaller market in which to operate, especially if the amount of competition has remained the same, it is particularly important that salespeople close sales more quickly. Their ability to identify, qualify, develop, and close business opportunities effectively and efficiently is paramount. There must be more proactive prospecting and less waiting for leads to come it. Salespeople cant afford to invest time developing proposals and presentations without knowing exactly what will happen when the deliver the proposal or presentation. Continually followin
