My first month with a sales quota was September 2008 – not the best month for a 21-year-old to start his career by making cold calls to strangers and convincing them to buy a $10,000 piece of software. The economy was in free fall, companies cut workers across the country and all budgets were frozen.
Against all odds, I ended up doing well. Good enough to be the best seller in the world (out of nearly 1,000) and break the 10-year record for most sales in one year. How? After working on Obama’s first presidential campaign from 2006-2008, I had a fresh look at how to sell. One that works whether we’re in a bear or bull market.
There is a huge opportunity in a recession for growing revenues. But first you need to fundamentally change the way you approach sales.
In a recession, the money saved is worth even more than the money earned.
Here are some quick tips for founders and sellers to grow SAAS revenue during these tougher times.
Adapt your sales pitch to the current market
When capital is cheap, growth is the primary metric that all executives and investors focus on. Capital has literally never been cheaper in the last decade.
However, that has all changed. Today, companies cannot spend more than they earn. That means your old sales pitch of “We can help you grow faster than ever!” must also change. The new message that will resonate is, “Let’s get more out of your existing resources!”