What Prompts Account Executives to Pivot their Sales Strategy Quickly?
AccountExecutive.co
What Prompts Account Executives to Pivot their Sales Strategy Quickly?
When the business landscape shifts unexpectedly, how do top industry leaders respond? In this Q&A, insights from a Founder & CEO and a Business Owner reveal the strategies that kept their companies afloat. Learn first how a Founder & CEO leveraged virtual tours and social media to stay ahead, and finally how a Business Owner targeted residential clients amidst a pandemic. Discover five actionable insights that could transform your approach to sudden market changes.
- Utilize Virtual Tours and Social Media
- Shift Entirely to Online Sales
- Adopt Virtual Tours and Online Marketing
- Emphasize Immediate Online Services
- Target Residential Clients During Pandemic
Utilize Virtual Tours and Social Media
I have encountered numerous situations where I had to pivot my sales strategy quickly. One particular instance stands out to me, as it taught me the importance of being flexible and adaptable in this industry.
I was working with a client who was looking to sell their property in a highly competitive market. We had initially planned for an open-house event, followed by individual showings for potential buyers. However, just a week before the open house, there was a sudden surge in COVID-19 cases in our area, leading to strict lockdown measures being implemented.
This news came as a shock and posed a major challenge for selling the property. It meant that the open-house event had to be canceled, and individual showings were restricted as well. This was a crucial moment for me, as I had to quickly come up with an alternative sales strategy.
After brainstorming with my team, we decided to utilize technology and hold virtual tours of the property for potential buyers. We also created a detailed video showcasing all the features and amenities of the property. Additionally, we leveraged social media platforms to reach out to a larger audience and promote the virtual tours.
Shift Entirely to Online Sales
One significant pivot in my floral business came during the COVID-19 pandemic. With physical stores closed, walk-in customers were no longer an option, and our sales dropped overnight. The catalyst for the change was the realization that our business model needed to shift entirely to online sales. We quickly revamped our website, optimized it for e-commerce, and heavily promoted our delivery services through social media and email marketing. It was a complete shift from relying on foot traffic to driving all our business online.
We also introduced virtual consultations for custom floral arrangements. This allowed us to maintain that personal touch even when we couldn't meet clients in person. By offering video chats to discuss event designs, weddings, or special requests, we were able to keep up the customer engagement that had been such a key part of our in-person service. This not only kept our sales going but helped us maintain the strong relationships we had built with our clients.
For anyone facing a similar challenge, my advice is to embrace flexibility. You can't control external factors like a pandemic, but you can control how you adapt. Be proactive, pivot quickly when needed, and find new ways to serve your customers. Whether it's moving your business online or finding innovative ways to keep customers engaged, the key is to stay agile and customer-focused.
Adopt Virtual Tours and Online Marketing
I can vividly recall a time when I had to pivot my sales strategy in the real estate market. It was early last year, and I had just closed a deal on a luxury penthouse in the heart of the city. This sale had taken me months to secure, and it was a huge success for both myself and my client.
However, just as things were starting to pick up in the market, news of a global pandemic hit. The real estate industry took an immediate hit, with buyers suddenly hesitant, and sellers pulling their properties off the market. It was quite a shock to everyone, including myself.
I thought it would blow over quickly and that business would resume as usual. But as the weeks went by, it became clear that this was not going away anytime soon. I had to come up with a new sales strategy in order to stay afloat in such uncertain times.
The catalyst for this change was realizing that virtual tours and online marketing would become essential tools in selling properties during the pandemic. With people staying at home and social-distancing measures in place, traditional methods of open houses and in-person showings were no longer viable options.
Emphasize Immediate Online Services
At my local SEO agency, we specialize in helping clients improve their visibility on Google Maps by optimizing their Google Business Profiles. A few months ago, we faced a sudden shift in the market that required us to pivot our sales strategy quickly.
The catalyst for this change was the rapid rise in demand for online services due to the pandemic. Many businesses that previously relied heavily on foot traffic were looking for ways to enhance their online presence. This shift created a unique opportunity for our agency to step in and provide essential services.
Recognizing this trend, we quickly adjusted our sales approach. Initially, we focused on building long-term relationships with local businesses. Now, we needed to emphasize our ability to deliver immediate results. We revamped our pitch to highlight how optimizing Google Business Profiles could help businesses attract customers more effectively in a challenging environment.
We also created new packages that included quick turnarounds on services like review management and local listing optimization. This allowed us to meet the urgent needs of our clients while maintaining quality. As a result, we saw an increase in inquiries and conversions.
Target Residential Clients During Pandemic
One time we had to pivot our sales strategy quickly was during the 2020 pandemic. With so many people staying home, our traditional focus on commercial projects slowed down, but residential demand surged. Homeowners were investing more in their yards and outdoor spaces, so we shifted our marketing to target residential clients directly. We also emphasized our safety protocols to reassure customers. That change helped us not only survive, but thrive during a challenging time.
