Don’t let Brexit derail your sales pipeline
As the Brexit deadline of 31st October 2019 draws closer, it still remains to be seen (thanks to ongoing volatility in British politics) whether the outcome will be a negotiated Brexit, a no-deal Brexit, or indeed no Brexit at all.
British economic growth is forecasted to remain subdued until 2021. As the consequences (both good and bad) unfold over the coming months and Brexit uncertainty weighs heavy, business leaders will find themselves reassessing goals and questioning the best way to stay on track.
Understanding the daily movements of industries, markets and businesses will be critical both pre and post Brexit. Now more than ever, client-facing teams must stay close to their prospects and customers to follow agendas, priorities and future plans. Find out how Artesian is doing that for all tier one banks.
As a leader it’s important to set those teams up for success, providing access to the tools that will help them make smart decisions and build trusted relationships in these unpredictable times.
Tools, like Artesian, that trawl millions of online resources every 60 seconds will give teams a deep insight into what’s happening here and now.
Is your client putting an important merger on hold?
Your teams can stay alert to the potential risk to opportunities in the pipeline.
Perhaps your prospect is still moving ahead with plans to expand operations? That’s a sales trigger you wouldn’t want people to miss.
Manage the risks
Being able to spot triggers enables teams to take action quickly and see risks to your current pipeline. Here are four key risk triggers to watch out for:
- Changes to business credit ratings
- Slowing growth rates
- Layoffs and redundancies
- Management changes
Manage know your customer
Know your customer or KYC is the process whereby you verify the identity of your clients. A regulatory compliance issue for banks and financial service providers, KYC due diligence is also important for any organisation. Here’s what you need to gather when onboarding a new client:
- Verification of identities
- Verification of financial viability and activities
- Credit checks
- Compliance with all appropriate regulations
- Changes in company structure, owners and directors
Seize the opportunities
For every organisation going through unstable times there will be others taking advantage of the situation. Teams should also watch out for sales triggers that will enable them to backfill their opportunities and de-risk their forecasts, including:
- Expansion into new markets
- Mergers and acquisitions
Predict the journey
Whilst the outcome of Brexit is out of your control, making predictions about the customer journey is not. Team must be able to anticipate purchasing behaviours and proactively deliver relevant content, product, price and message. Insight can help:
- Identify products and solutions before the buyer needs it
- Analyse which actions are most likely to have the greatest impact
- Understand what content will resonate most and will have the highest open rates
- Influence buying decisions
Preserve your pipeline
Regardless of what happens next (clear path to Brexit or not), you need to ensure your business is on the right path – minimise the risks to your business goals and maximise the opportunities in your pipeline.
Encouraging people to stay close to their clients, markets and industries on a daily basis is the most competitive move your business can make.
Find out how Artesian can give your teams the edge. Request an instant demo today.
For those who seek something more meaty – download our guide to breathing life into your sales pipeline.