I often get asked this. Isn’t it just selling – why do you need a strategy?
My answer is simple.
A sales strategy is what delivers you your money – your margin – your cash.
It is what enables your business to survive.
Key elements of a sales strategy are:
Who are they
What are their needs
Where are they
How do they like to be communicated with
Your products and services
How will you measure probability and conversion rates of your pipeline
How are you generating sales leads
Your performance measurement
What are your sales forecasts
Structured pipeline reviews
Managing sales team performance
Overall it should align to your business plan and marketing plan.
Let’s bring this to life… A business make sell cakes and feel that their business is purely business to consumer. However how about selling the cakes to local retailers, coffee shops etc too? Perhaps even selling your cakes as a local artisan range to a national contract caterer to stock in their catering contracts locally? Each customer type will have their lead generation approach, unique requirements and pricing strategies.
As you identify each customer group then you need to:
Understand their needs and what products and services they want
What are their buying behaviours – when, where and why?
What is important to them – price, quality, after sales service, etc?
Prioritise the groups in terms of probability, profitability, delivery of vision, etc
How will you target / communicate with each group?For some social media may work, for others it may be cold calling.
Then set up reporting and monitor sales efforts and results.
In the case of the above example, see below – there are a minimum of 4 sales channels to consider. Each customer type will have different requirements in terms of specification, packaging, pricing, delivery, after sales support, volume, etc.
As you can see, even what may seem like a simple business, there are so many possibilities and complexities to consider to help deliver business growth. In addition, having more than one sales channel / customer group, will help to alleviate seasonal fluctuations, a reliance on type of customer, and improved margins if managed correctly.
If you would like support to develop your sales strategy – email or call me to help on firstname.lastname@example.org or 07388 022473.