July 1, 2019
1. Individuality – have your own niche
By specializing in something and innovating your products and services you will become the industry authority. It’s important to be well known for your flagship product or service – it will strengthen your sales strategy and in the long run help you to gain more clients.
- Have a Customer Profile
Reviewing your client’s performance is important, by reviewing past performance you can identify the clients who
- Spend the most money.
- Have the shortest sales cycle.
- Make repeat purchases.
- Are easy to work with.
After reviewing your clients, make a list of your top clients and the qualities they have in common – this will become your criteria for an ideal customer. This can help to avoid wasting opportunities as it will help your sales reps to focus their efforts on whose who can yield returns – sales reps must provide value and personalized experience for each prospect and customer. A ‘One-Size-Fits-All’ sales strategy doesn’t work on all customers – you have to serve the customers well – know their individual needs and find ways to address those.
- Evaluate your past and present performance
Reviewing your previous and present performance to determine your next moves is important. Questions such as:
- Who were your top sellers?
- Who were your clients?
- How much revenue did you gain?
- Among your clients, who brought in the least and most profit? How long did it take to support them?
- How many of your clients did repeat business with you?
- Are you currently positioned well to reach your revenue targets?
will help you to evaluate your accomplishments.
The foundation of your new sales strategy plan will be your previous and present performance. By reviewing what you’ve accomplished it will help you to set new goals. By doing a SWOT analysis it will help you to determine your strengths– you then can leverage them to maximize the opportunities you have. Discover your weaknesses and threats through the analysis that could hinder your goals. From these findings you can come up with specific efforts to minimize those weakness and threats and to build on your strengths – therefore building a successful strategic sales plan.
- Develop your market and sales strategy
Consider planning the following whilst creating your sales and marketing strategies:
- Getting referrals from the accounts you have
- Increasing your revenue in your current territories with new and existing products
- Increasing your revenue outside your territories with new and existing products
- Grown your existing accounts
Storytelling is a sales strategy trend that’s works well for some – it’s a great way to move past the introduction stage and connect with people. Although it is important to note the following information:
- Don’t make it all about you
- Let your audience know you understand their struggles, and share how you overcame them
- Provide social proof using your customers’ success stories and testimonials.
Using data is something to consider to drive a sales strategy as by using the data from sales efforts you can set benchmarks. It can help to measure your success on each strategy – this can give insight into what to continue or improve on.
- Determine and communicate your positioning
When positioning your company and products your market and sales strategy will come into play – this will help you to determine your growth. Positioning statements should communicate the value proposition and meet the needs of your ideal customer. A USP (Unique Selling Point) of your product or service is essential – it has to hit your customer’s pain point and solve their problem. This will help to give your sales strategy a boost.
- Set your revenue goals
The next important step is your realistic revenue goals. Communicate with your product, marketing and sales teams to figure out how each team can support one another to achieve these goals.
- Set realistic and clear action plans
Once you’ve figured out your revenue goals – assign you sales rep to propose a funnel showing how they will generate that revenue. This may be in terms of the number of calls, sales deals closed, or time spent with each prospect and customer. Ask them to come up with clear action plans and lay out their timeline as part of their sales planning process – remembering to always offer something valuable to both prospects and customers. Encourage healthy competition with the team – this will help your sales reps to fulfil their own goals as incentives that you will provide will push them towards motivation.
“He who fails to plan is planning to fail.”
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