Your Sales Strategy Needs Steps
Your Base is The Key To Success in Selling
Whenever we think of selling our products and services we think of the method, the way of selling, and this is the strategy that we should follow. As a definition, sales strategy is defined as a documented plan for positioning and selling your product or service to qualified buyers in a way that differentiates your solution from your competitors. Sales strategies must have clear goals and objectives starting from the sales plan going through the implementation, and monitoring the sales results to ensure the effectiveness of the strategy applied. The steps of creating a sales strategy is extremely important as they can be including the following:
1- Knowing and evaluating where were your sales performance and where are you standing now.
As you must know your current situation in selling, since your sales team have been applying the needed sales techniques and skills in the past and how much did they sell for the business ? What is their feedback ? Who did they sell to ? What is most and least selling items ? Is the sales strategy was applied based on a defined selling process or not ? These questions will help in knowing the current situation and will let the management understand the weaknesses and the strengths of the sales strategy for better improvement.
2- Creating The Best Customer Profile
Many companies have a certain number of customers who are frequently buying and mostly they are around 20% who are making the 80% of total sales revenue. So by digging very deep in the data of the previous year we will know and understand who are the best paying customers so we can re-target them when implementing the new sales strategy as it’s one of the sales management objectives to decrease the effort and to increase the efficiency.
3- Market Penetration Method
In this part of your sales strategy creation, the ideal though is to decide the market entry and growth way by finding the best answers to the questions such as: What is the expected growth percentage compared to the previous year ? How much we’re going to sell to new customers compared to existing customers ? How are you able to achieve the monthly sales target ?
4- Drafting Clear & Challenging Goals
Although your sales goals are realistic, they must be challenging and let you double the effort and working twice to achieve by applying certain selling activities and techniques to reach your goals. Of course this will be through the well hired and trained sales team.
5- Setting The Sales Action Plan
This will be devided into 2 main parts, which are the selling activities and the projected sales results, then the actual sales results and performance. Also in this part of the sales strategy the sales team will go through a defined sales process and pipeline to position themselves in each stage by understanding the reasons of the sales increase to apply the needed practices for the future sales.
By following these mentioned steps, the sales strategy will be always practical and dynamic as it’s applicable and can be changed based on the market conditions.