Successful Sales Strategy
No matter how well you design a product or how well you organize a team, everything will fall flat if there are no sales and therefore no income or profit. Most businesses fail because there have been faulty projections and calculations in sales and future markets changes. Without a comprehensive sales strategy there is no way a company can succeed no matter how good the product is or how flawless the service could be. All these come at a later stage when the customer has tried or about to try out the product. Unless the customer is suitably interested this stage will never come. And to get them suitably interested you need a winning sales strategy for your business.
It is the successful sales strategy that will allow a brand or product to gain that competitive edge which propel them way ahead of the race. Targeting the right customers, delivering the right messages and promising the right solutions are the three tactics that will drive forth good sales. Long term goals should be combined with short term milestones to mark each achievement and further motivate the team. The key to creating a successful sales strategy lies in very simple steps.
Sales Strategy – #1 – Setting goals – The first step is to set up specific goals so that the whole sales team can work towards it. This may be the form of revenues, profits, market share as well as brand building targets. Long-term sales strategies should be interspersed with short-term performance measurements to motivate and drive the team better.
Sales Strategy – #2 – Sales plans – Once the goal is figured out you can create a detailed sales plan which will explain and guide the team through each phase and progress. The master plan is usually created by team leads and managers and then approved by the CEO or the immediate authority figure. But for definite success it needs to be fluid and easily incorporate changes and suggestions which could come even from the field teams.
Sales Strategy – #3 – Chalking activities – After this come the various actions required to fulfill the plan that has been designed. These actions range from tele-calling, visiting clients, creating marketing ideas and campaigns, executing them and follow up with prospect to close the deal. Social media strategies are also important activities in today’s business world.
Sales Strategy – #4 – Dividing responsibilities – A leader’s job and a strategy is incomplete without jotting down the divided responsibilities. These are actions and jobs assigned to various team members according to their capabilities so that all aspects of a sales job can be covered and at the best possible turnaround time.
Sales Strategy – #5 – Managing change – Sales strategies can never be static or rigid. They need to be dynamic because they have to keep up with the fast changing times. A leader who can anticipate and manage this change is one who can deliver the best strategy and drive best sales.
The combination of all these steps along with the study and analysis of the business sales cycle will pave the path to effective revenue and profit. A sales strategy based on these principles have greater chances of seeing success.
Gary Takacs is the founder of The CEO University is a US-based, CEO and Executive Peer Group Organization that creates opportunities for accelerated business growth and personal development through Group Meetings that are CEO-led, one-to-one mentoring focused on unique business and personal challenges, and purposeful learning events.