The presidential election of 2020 is coming. The question is, will this impact B2B sales? Let’s talk about that in this episode.
An article published in NewNorth stated that the political season impacts B2B sales but it depends on the industry and the type of customers you’re looking for. Studies have shown that multi-million dollar organizations tend to be less shy during the election. The large organizations expand because they have more consumers, stockholders, and others that have a stake in the success of the company. They have the ability to make more solid predictions and see the bigger picture. They determine how the elected leaders will affect the organization.
The election is different for the mid-sized companies as they aren’t immediately impacted by the results. This is also true for smaller companies. For sales reps, you may have more challenges in the time of the election. Brandon Julio, a professor at the London Business School said that during elections, firms reduce their investment expenditures by an average of 4.8%. Companies try to reduce expenditures but they continue to make investments.
Preparing for it
The B2B market doesn’t have to feel the strain of an election year. First, sellers must have the proper mindset. This isn’t the end of the world and the impact may not be felt for a long time. Second, ensure that your company is prepared. Evaluate your sales pipeline and look into your CRM. Third, look at the fourth quarter every year. The book, The 12-week year, focuses on how companies tend to do well during the fourth fiscal quarter. The last thing is to plant seeds by building relationships whenever possible.
“Will B2B Sales Be Impacted by The Elections?” episode resources
Speak with Donald directly for more sales talks. Reach him via these channels: LinkedIn, Instagram, Twitter, and Facebook about any sales concerns. Speak with Donald directly for more sales talks. Reach him via these channels: LinkedIn, Instagram, Twitter, and Facebook about any sales concerns.
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