So, here we are in August – what some people refer to as the “dog days of summer.” Temperatures and humidity are through the roof, many of your clients, customers and prospects are on vacation and those deals you thought were going to close in June or July just haven’t happened.
This time of year a typical business development progression for many sellers looks something like this:
The first half of the year finishes strong, with sales at or ahead of projection.
The new business pipeline is, seemingly, full of promising opportunities.
Summer hits, the Fourth of July holiday comes and goes, decision-makers have vanished…
…and deals are taking longer to close or, perhaps, have stalled completely.
Numbers fall behind, sellers become discouraged, panic begins to set in and they can’t enjoy any of their summer, wondering how they’re going to make up the deficit by Q4.
But this selling slowdown doesn’t have to be a period of inactivity and unprofitability. Here’s how some sales professionals use the summer slump in productive, and meaningful, ways:
1. Rekindle Dormant and Existing Relationships
With many decision-makers traveling, or on vacation, your current, or former clients’ schedules may have also slowed down. It’s an opportunity to reengage with them, schedule informal get-togethers and reestablish rapport. Chances are they will welcome the contact and you may well uncover new business opportunities that you hadn’t anticipated.
2. Explore New Markets and Strategies
This might be an opportune time to strategically plan for an uptick in business and activity, after Labor Day. Are there new markets or customer segments that can be targeted with fresh marketing campaigns? Are there prospects and potential new customers who haven’t experienced the summer slowdown or, perhaps, have a cycle of increased need during Q3 and Q4? What pre-planning can you accomplish now that will enable you to hit the ground running, come September?
3. Focus on Lead Generation
Fine-tune your lead generation tools and activities. Create meaningful content that you can utilize in email marketing, social media and LinkedIn posts. (For that matter, take this opportunity to refine your LinkedIn profile and learn how to use their many lead generation tools, such as Sales Navigator.) Couple those efforts with researching new opportunities using database tools that are readily available, such as ZoomInfo. (Can you say “curated prospect list” or “intent search?”)
4. Reexamine Your Sales Processes
Scrub your database, update your customer relationship management system and implement a “pipeline hygiene” strategy by eliminating those “suspects” who probably never had any intention of doing business with you. Were those prospects realistically qualified or were they just “kicking tires” and shopping for free advice or your unpaid consulting? Summer is also a great time to focus on professional development by refining and enhancing your selling, negotiating and presentation skills. Opportunities for live and/or virtual training, seminars, workshops, webinars and online courses are abundant.
5. Do What Your Clients, Customers and
Prospects Do
Use some of the remaining “dog days of summer” to relax, refresh and recharge. Maintain a positive mindset by dialing it down a bit, to reduce any lingering stress and anxiety, and enjoy friends and family. Then, reset and refocus by setting new goals for yourself, in order to hit the ground running when vacations end, the kids are back in school and more of your customers are ready to do business.
There’s no question that the hot and humid summer-month slowdown can be a challenging, and frustrating, period for even the best and most-experienced sales professionals. But what you do and how you prepare in the days and weeks ahead can make the difference between another productive and prosperous calendar year or a season of potentially missed opportunities.
Jim Marshall is the founder of Sandler Training of Tampa Bay, which provides sales and management training and coaching to high-achieving companies and individuals. Contact him at 813.287.1500 or [email protected].
