We all weathered challenges in 2022 — supply chain issues, inflation, lingering pandemic concerns — and the headwinds are still strong. Lately, news of tech layoffs and predictions of an upcoming recession have people on edge.
So what will it take to succeed in this challenging environment? We asked Pavilion Members to share insights on the challenges ahead and the strategies they’re taking to stay ahead in 2023.
Q: What are the top 3 challenges you think companies are likely to face in the new year? What’s one suggestion you could provide to help them tackle each one?
“Recession. Get creative with staffing plans, lean into creating more value with more creative approaches, and take time to think outside of the box
Revenue decline. It’s time to check your operations costs/spending. Pull back on travel or find ways to engage the right people in groups so you get the most out of your spend.
Higher stress levels. In general terms, I think a “case of grace” approach to your co-workers and staff as we move into the new year be mindful that everyone is fighting big battles and some are unseen.”
– Teri Klug, Pavilion Ambassador, President & Founder of Strategic Development LLC
Q: How are recession-related conversations impacting your 2023 planning strategies?
“Planning is a difficult exercise in the best of times, because there are so many variables that one has to take into account and model in. It becomes even harder in a volatile market, like the one we are in right now. So, we are not planning for all of 2023 right now. We are taking it one quarter at a time. If a recession becomes inevitable in the near future, our approach to planning will allow us to make the appropriate adjustments.
– Asad Zauman, Pavilion Ambassador and Founding Member of CEO Pavilion, CEO of Sales Talent Agency, Inc.
Q: What are the top 3 priorities for your sales organization heading into 2023?
“Identifying accounts ready to buy, having meaningful conversations with your prospects and understanding the true buying teams, organizing sales and marketing to focus on driving quality conversations and weeding out activity for activity sake.”
– Susan Whittemore, Envoy at Pavilion, Head of Revenue Operations at Teampay
Q: What unique/special incentives can sales/marketing/CS leaders use to help ensure their team will hit end-of-year goals?
“No hero moves. Don’t sacrifice Q1 for a better Q4. Bad fit customers, pulling deals forward with massive discounting, etc. If you have a playbook you trust, trust it when the pressure is on. If demand has fundamentally changed, then be strategic about the decisions that need to be made as a company.”
– Jeff Reekers, CEO & Founder, Stealth
Q: What advice do you have for teams on how to maximize cost savings? What are some easy ways to boost ROI?
“Focus and prioritize activities that have a direct and shorter term impact on sales and retention.”
– Luigi Mallardo, Founder & Partner, SaaSup
“Be extremely intentional. Pill funding from investments that aren’t fully deployed and maximized and reallocate those funds to other areas that are more mature and create consistent gains. Developing processes and more discipline in roles also helps create efficiencies.”
– MJ Patent, Pavilion Ambassador & VP of Marketing,Logically
Q: What other actionable tips would you give organizations for a strong 2023?
Planning ahead and prepare, prepare, and prepare. Nothing in 2023 will be easy or given to you. Build a strategy for yourself and work every day on it. Execution wins.”
– Jeff Reekers
“We have not sold in this type of market for 10+ years. A lot of us were not even in B2B sales when the last real recession hit. So, a few have the experience, and the others will have to adapt. We need to recognize that the strategies and tactics that worked very well in a hot and warm market, will lead to complete failure now. Right now we need to be creative, tenacious and resilient to create demand and close deals. We need to double down on personalization, on providing value to all the key stakeholders, on being multi threaded and always prospecting. Even if we do all those things well, it’ll still be a dog fight, but at least we will be doing everything in our power to win it.” – Asad Zauman
“Mindset matters – believe you will fail and you will certainly do so.” – Teri Klug
For more community-powered insights, apply to join Pavilion today.