my first month September 2008 with sales quotas was not the best month for a 21-year-old to start his career by calling strangers and persuading them to buy $10,000 worth of software. The economy was in free fall, companies were slashing workforces across the country and all budgets were frozen.
Despite all odds, I did well. Enough to be a best seller globally (out of around 1,000) and breaking the 10-year record for most sales in a single year. How? After working on Obama’s first presidential campaign from 2006-2008, I had a whole new perspective on how to sell. One that works regardless of whether we are in a bear market or a bull market.
There is tremendous opportunity in a recession to grow revenue. But first, you have to fundamentally change the way you sell.
In a recession, the money saved is worth more than the money earned.
Here are some quick tips for founders and salespeople to help boost SaaS revenue during these tough times.
Customize your sales pitch to the current market
When capital is cheap, growth is the primary metric that all executives and investors aim for. Capital has virtually never been cheaper for the past decade.
However all this has changed. Today companies are not able to spend more than they earn. This means that your old sales pitch “We can help you grow faster than ever!” also have to change. The new message that will resonate is, “Let’s make the most of our existing resources!”