5 Steps to build a successful sales strategy
- March 12, 2019
- Posted by: admin
- Category: Sales Development
What are the best steps to follow when developing a sales strategy?
When working within a company, it is easy to get to the mentality of just wanting to do things. However, much like warfare, if you get into the battle without an adequate sales strategy, you are going blind. This means anything that jumps out to attempt to get you is quite seemingly aiming to succeed.
However, if you take a step back and take the time to plan and organize yourself and your team, you greatly increase your chances of success.
With a well-organized and well-implemented sales strategy, not only will you and your team strive to get gold, but you can also identify risks, tie up loose ends and solve problems before they become too difficult to manage.
Having the correct sales strategy will make or break your start. From doubling down the task of perfecting your email reach, to identifying profitable market niches, taking advantage of storytelling, knowing how to follow up the right way and more.
An effective sales strategy is an important part of building a growing business. A thoughtful strategy allows you to make better use of your resources and ensure a coordinated approach throughout the company.
Here are 5 proven steps to build a successful sales strategy.
Build your roadmap
The first step to creating an effective sales strategy is to know where you want your company to go. “Where specifically do you wish your business to be this year or in 3 years? Who are your customers that you need to obtain?
Create a very specific plan, as you do when you put it on Google Maps, which tells you exactly where you are going and then points out each step you need to take to get there.
Creating a roadmap for your business is crucial if you want to achieve your sales goals.
Define clear deadlines and milestones
To know if the steps you are making in your sales plan are close to the mark or not, you must divide that large number into smaller expectations with strict deadlines. We call these milestones and they are incredibly useful to track whether or not your sales plan is on the right path.
Clear deadlines and manageable milestones require research and time to develop. They must challenge and motivate your sales team.
Approach target customers in an authentic way
Once you have a roadmap and milestones set around, next make a list of target customers. Start reaching out to your customers directly. It makes no sense spending time and cash chasing after the incorrect prospects.
Once you recognize your niche, it’s time to dig into finding out as much as possible about your target customer in order to properly sell to them.
One of the tactics to approach key customers is to authentically involve them in LinkedIn or by email.
One of LinkedIn’s favorite strategies is to take advantage of LinkedIn groups: become a member of the same groups as your target customers, allowing you to connect with them without needing to have their email addresses. Then send brief, personal notes to those people who mentioning your shared interests and who demonstrating that you’ve spent some time getting to know more about them and their businesses.
Also, do not forget to think if they are going to be a good “fit”. This is a long-term relationship that you are developing and not a one-off deal, you should make sure you speak the same language and respect the prospect’s culture and vision.
Leverage current client relationships
You are missing out on a great opportunity if your sales plan only focuses on finding new potential customers. Word of mouth, introductions and current customers can be your strongest leads for growth.
Use LinkedIn to see if someone you know can introduce you to one of your prospects. Or contact your most loyal customers and ask them if they know someone who can benefit from your product or service. (you can even supply a referral bonus or discounted rate).
Always follow up
The fact that you have made a solid sales plan does not mean that you can sit down and see how the cash comes in.
Instead, remember that your sales plan is a living and breathing document, and like the rest of your company, you must take into account and adapt to new functions, marketing campaigns or even new team members coming together. You should go back to it regularly to assess whether your assumptions are converting into reality or not.
It may take more than one meeting with a potential client before closing the deal, so the key is effective follow-up. Take time to make sure everyone is on the same page about the next steps.
Use the time as an opportunity to schedule a follow-up meeting, if necessary. It is important to give everyone involved in the meeting “assigned tasks”. Let your prospect know what you plan to do and when you plan to complete it.
Then explain what you need from your potential client and give them a deadline. Doing this at the end of the meeting will make additional follow-up much easier.
A sales strategy sounds like a concept that big companies launch. However, everyone, from the owner of a small business to the solo entrepreneur, can benefit from a solid sales strategy.
Whether you are running your own business, trying to increase the effectiveness of your organization’s sales, or simply becoming a better salesperson, these proven sales strategies will help you get started.
At the end of the day, however, you can try out all the sales strategies in the world, but the best way to improve your closing rate is through real live experiences. There is no substitute for sending emails to your potential customers, picking up the phone and having conversations with your prospects or meeting them in person.
What strategies have worked for you in your career? Do you have any make or break tips for surviving and excelling in sales? Share you comments below, I’d love to hear from you.