#11 Surviving the Downturn
- Frank Custers
- Mar 6, 2024
- 1 min read
The economic downturn has arrived, and companies in the tech industry are feeling its effects. Sales cycles are slowing down, the pipeline is slipping into future quarters, and companies are reducing software spend, resulting in revenue leaks.
The process of forecasting future demand can be difficult, especially during uncertain economic times.
Revenue leak manifests in deal slippage, bad data, and error-prone manual processes. Sales organizations need to take action to stop the leak and set themselves up for success after the downturn. In addition, consumers are more mindful of their spending habits, which can affect lead-generation efforts.
Revenue leaders can adapt their go-to-market strategy by
proving the value of their solutions
accelerating time to value
identifying leaks in their internal processes
doubling down on what works.
In addition, instead of focusing solely on increasing conversions, business leaders should use the marketing efficiency ratio (MER) to measure the efficiency of their campaigns across all revenue streams.
Last-click attribution models may not account for critical touchpoints in the customer journey, so overall efficiency should be emphasized over short-term returns. Analyzing each stage of the marketing funnel can help differentiate successful initiatives from those that fail to drive revenue.
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