7 Things to do When Business is Slow

by DealsInsight Team

You have not reached the revenue estimate for the quarter, profits are in the fall, the trends in the market are not helping and it suddenly seems like you have no one to cater to. Don’t worry, it’s just one of the ebb-and-flow phases of business!

What do to NOW?

If you feel that at this point, your business is slow, the offices are not buzzing with activity as they had before and you feel dull sitting in the chair with hardly any work, it could just be a side-effect of the dreadful pandemic, an economic disruption that led to steep fall in the demand curve.

1. Examine your sales team performance

A period of slow business can give you a lot of time to properly look into the working of your sales team. Having a good rate of conversion (your average lying between 2.46%-3.26% )  is substantial, but you want to make sure that it is the optimum rate as well and your team cannot go any further than that.

You could either choose from the collection of analytical software available online or devise your own metrics to measure their success.

When you’re looking into these details, you can determine how much of your team hit the quota, your conversion rate, the revenue you earn, and also the amount of leakage that takes place from your sales funnel.

These statistics will not only help you determine the overall performance of your sales department but also show you the loopholes that need to be fixed, which you would have otherwise avoided on a busy day.

2. Redefine goals

When you are tracking the success of your business, you do it on the basis of reaching your monthly or annual goal, and the same goes for your professionals.

Read more https://www.dealsinsight.com/7-things-to-do-when-business-is-slow/

Published by Azuni Blogger

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