Salespeople face many challenges in a volatile market, such as unpredictable demand, changing customer needs, increased competition, and reduced margins. How can you motivate your sales team to perform well and stay engaged in such a dynamic environment? Here are some tips to help you boost sales motivation and productivity.
One of the key factors that affect sales motivation is goal clarity and alignment. In a volatile market, you need to set realistic and flexible goals that reflect the current situation and adjust them as needed. Avoid setting goals that are too easy or too hard, as they can demotivate your salespeople and lower their confidence. Instead, use SMART (specific, measurable, achievable, relevant, and time-bound) criteria to set goals that are challenging but attainable. Communicate your goals clearly and frequently, and provide feedback and recognition along the way.
What a great question, volatility equals speed to market, in corporations we are used to follow procedures, SOPs , guidelines etc etc, they are very useful in stabilized markets and extremely prejudicial when you need to make quick decisions. Downfall of speed to market is you won’t make all the decisions correctly , but you WILL make decisions faster and most likely be ahead of the curve and increase performance. A wrong decision is always better than a non decision. This being said leaders require to have a creative output to execute and perform in volatile market conditions, a “thinker”type of leader will have a hard time adapting to new conditions on the spot, this will make these type of leaders extremely uncomfortable, be fast !
I love the SMAR(TEST) framework because builds upon the traditional SMART criteria by adding "E" for Educational, “S” for Sharable, and "T" for Traceable. This emphasizes the importance of Educational considerations and transparency in goal-setting. It ensures that goals are communicated transparently to all stakeholders.
Does you sales team know and trust that you’re in it with them? You have their back? Do they believe in the team’s ability to accomplish the goals in front of them? Ask yourself these questions - Reps don’t want pizza parties. They want trust & understanding. They also want realism. Don’t use toxic positivity or act like a dictatorship. Be real when it’s going to be hard. But be with them through the hard.
In a volatile market, motivating salespeople is crucial. Clear communication about market conditions, realistic goal setting, specialized training, and providing necessary tools and resources are essential. Offering attractive incentives, empowering flexibility, and encouraging teamwork fosters motivation. Recognizing and celebrating successes, emphasizing adaptability and resilience, and establishing open feedback loops are important. Strong leadership, clear vision, and a sense of purpose inspire and motivate the sales team, ultimately driving performance and maintaining a competitive edge.
One of the main problems with setting sales targets is that they are sometimes set on the basis of business needs rather than the particular circumstances of the market. Therefore, it is necessary to be realistic and set flexible objectives, especially in the current uncertain economic scenario.
Another factor that influences sales motivation is autonomy and support. In a volatile market, you need to give your salespeople the freedom and flexibility to make decisions and adapt to changing circumstances. Avoid micromanaging or imposing rigid rules that can stifle their creativity and initiative. Instead, empower your salespeople to use their skills and judgment, and provide them with the resources and tools they need to succeed. Support your salespeople by listening to their concerns, offering guidance and coaching, and resolving any issues or conflicts.
The sales manager must be flexible and cater to the particular characteristics (selling method and style) of the representatives. Some will be more autonomous, others more dependent, but in any case the objective of any sales manager will be to be able to modulate his support according to the needs.
When markets get volatile, sales teams need room to flex while knowing we've got their back. Empower your people to meet rapidly evolving buyer needs, along with the focused resources and training they ask for. Share what's working and where we're getting stuck. Publicly recognize resilience. Frame turmoil as opportunity for trailblazers to advance their skills and leadership. While steady leadership communication is key in uncertainty, we need two-way dialogue to take action on sales insights guiding wider adjustments. Sure-footedness now comes from transparency, peer connections and empowerment enabling client-facing teams to make needed judgement calls. We all feel the churn, but no one is closer than the boots on the ground.
A third factor that affects sales motivation is culture and teamwork. In a volatile market, you need to create a positive and collaborative culture that fosters trust, respect, and camaraderie among your salespeople. Avoid creating a cut-throat or competitive atmosphere that can breed resentment and isolation. Instead, encourage your salespeople to share best practices, learn from each other, and celebrate each other's achievements. Foster a culture of continuous learning and improvement, and provide opportunities for your salespeople to grow and develop their skills and knowledge.
Encouraging the team to share not only what worked but more importantly, what didn’t. Providing an atmosphere where trying even if failing is ok and even encouraged, is critical to 1) encourage your team to take risks and try new things and 2) find where to improve. It also encourages sharing between sales people to quickly scale learnings.
This is one of the key issues: competitiveness at the individual level sometimes fosters a culture of fear and envy in teams. Knowing how to create a truly goal-focused team from the commercial management, achieving camaraderie and good vibes among sales reps, and at the same time knowing how to rejoice in the victories of others is something very easy to say but complex to manage. And here, communication, generosity, a critical sense and the promotion of a learning culture are vital.
Encouraging the team to share not only what worked but more importantly, what didn’t. Providing an atmosphere where trying even if failing is ok and even encouraged, is critical to 1) encourage your team to take risks and try new things and 2) find where to improve. It also encourages sharing between sales people to quickly scale learnings.
A fourth factor that impacts sales motivation is reward and incentive. In a volatile market, you need to reward and incentivize your salespeople for their performance and efforts. Avoid using only monetary rewards or incentives that can lose their appeal or create a sense of entitlement. Instead, use a mix of intrinsic and extrinsic rewards and incentives that appeal to your salespeople's needs and preferences. For example, you can use praise, recognition, feedback, career advancement, learning opportunities, bonuses, commissions, gifts, or contests. Make sure your rewards and incentives are fair, transparent, and consistent.
Campanhas de incentivo financeiro para resultados alcan?ados (individuais ou de departamentos) s?o excelentes ferramentas para manter e atrair talentos no seu time. Além disso, enfatizar os grandes feitos, elogiar os melhores resultados e mostrar a equipe como a estratégia de um deles está dando certo e alcan?ando bons resultados faz com que todos exer?am a auto cobran?a e busquem melhorar para um dia serem também destacados.
A fifth factor that influences sales motivation is empathy and appreciation. In a volatile market, you need to show empathy and appreciation for your salespeople's emotions and challenges. Avoid being indifferent or insensitive to their feelings or problems. Instead, show genuine interest and care for your salespeople's well-being and satisfaction. Acknowledge their frustrations, fears, or stress, and provide them with emotional support and encouragement. Express your gratitude and appreciation for their contributions and achievements, and make them feel valued and respected.
Praticar a lideran?a situacional, se manter próximo da sua equipe, entender o momento que cada um está passando, conhecer as carcterísticas individuais e, principalmente, ser um líder preocupado e ocupado com cada um dará a cada membro do seu time a certeza de que ele é importante e que poderá contar com seu gestor sempre que precisar. Isso fortalece qualquer elo.
Challenging times can lead to motivation failure. Onset of COVID19 bought along its own sales crisis including motivating the partner team's field selling team. We had no sales, no attendance and no permissions to operate. I pushed my managers to break down goals into smaller achievable parts. The first challenge in this case was to improve the seller attendance by providing a safe environment for the team to work in. This was worked on and communicated across the partner team's organization. Soon enough we had the attendance problem resolved.
I recall collaborating with sales teams during the 2008 financial crisis trying to navigate the profound impact it had on the CIS markets. Setting targets seemed nearly impossible as both ourselves & our customers grappled with the fallout. However, it was during this challenging period that the culture of customer obsession within the sales organisation shone through. The investments we made supporting our customers during that time, even if it didn’t translate into immediate bonuses, yielded substantial dividends in the years that followed. It’s the responsibility of sales management to instill in sales teams the understanding that sales is a long-term endeavour and sometimes we must weather the storms to reap the rewards.