This is Part 2 of a 3-part series. Start the series with 2023 Telecom Selling Challenges and Solutions: Part 1.
Based on surveys from Channel Magazine, HubSpot’s 2022 Sales Strategy & Trends Report, and Sales Key Challenges for 2023, we identified key challenges using insights from over 1,000 sales professionals. There were five main challenges that rose to the top.
In Part 1 of our series on 2023 Telecom Selling Challenges and Solutions, we looked at standing out from the competition. Here, we’ll take a closer look at quotas and how you can reach those higher goals.
Challenge 2: Meeting (and exceeding) quotas
Making more sales is the goal of every salesperson, but when customers struggle to buy, it’s easy to fall short of quotas and see commissions dwindle.
While the tried-and-true techniques of asking for the sale and building in value can go a long way, being aware of consumer behavior can also allow for better strategy development.
56% of salespeople across all industries noted the average deal size stayed the same from 2021 to 2022, while 8% saw a decrease.
The 8% decrease in deal size is characteristic of the telecommunications industry, but it doesn’t have to mean discounting your products or services to get the sale. To quote Channel Magazine’s survey, “we must stop the race to $0”.
How LB Networks can help you address this challenge:
Offer better service and more value-add services at a premium price.
Service providers selling the Business Service Portal as a Service have realized many benefits, including customers ordering more bandwidth, growing their backlog of opportunities, and winning more deals. Recent examples include a regional carrier winning a hospital system and relegating the current provider to backup status. Other successes include landing a state-wide contract, school districts (e-rate), and countless commercial businesses!
Be sure to check out the other 2023 Telecom Selling Challenges and Solutions:
- Part 1: Standing out [vs. competition]
- Part 3: Connecting with and keeping prospects engaged // Alignment with marketing
2023 may hold some challenges for salespeople, but within every obstacle is opportunity.
With persistence, adaptability, and LB Networks on your side, sales teams will be able to thrive in this new landscape.
Contact us today to learn how the Business Service Portal can help you succeed.