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A sales strategy consists of a plan that positions a company’s brand or product to gain a competitive advantage. Successful strategies help the sales force focus on target market customers and communicate with them in relevant, meaningful ways. Sales representatives need to know how their products or services can solve customer problems. A successful sales strategy conveys this so that the sales force spends time targeting the correct customers at the right time.
Steps in Building a Sales Strategy
Where is your business today
As a leader you are busy running the business. For accuracy, an overview of your current sale process, target market, competitive environment, and go to market message should be one of your first steps in a review.
Identify what’s important
What direction do you want to take your company and what do you need to do to bring your company there? Define the direction of your business over the long term and clearly outline the mission (markets, customers, products, etc.) and vision (conceptualization of what your organization’s future should or could be). From this analysis, you can determine the priority issues—those issues so significant to the overall well-being of the business that they require the full and immediate attention of the entire management team. The strategic plan should focus on these issues.
Define what you must achieve
Define the expected objectives that clearly state what your organization must achieve to address the priority issues.
Determine who is accountable
This is how you’re going to get to where you want to go. The strategies, action plans, and budgets are all steps in the process that effectively communicates how you will allocate time, human capital, and money to address the priority issues and achieve the defined objectives.
A strategic plan is a wonderful thing. It can help you take your business to places you never thought possible. If you haven’t already done so, take the time to lay out a strategic plan now. It will help keep your business on track and you focused on the future.
Need help in reviewing your Sales Strategy?
Launch Strategic Group will help you define your sales process, enable your sales team to focus on your key target market with a message that resonates, and define measurable metrics to measure success.