Every business wants to make more sales and profit. This is the bottom line of every business and this is why an effective sales strategy is a must.
If you want your business to continue to operate, there is an urgent need to come up with a sales focus. This will help drive the most amount of growth to your business.
As a business owner, nothing is as important as developing performing sales strategy. It is the best way to have the greatest positive impact on the business growth.
Developing an effective sales strategy should be your number one priority if you want your business to survive.
Developing an effective sales strategy
In business, the simple fact is that making sales is not just as easy as some people might have thought at times. You just have to develop a strategy and be really ruthless about it.
Your priority should be to develop a singular focus on the key sales and business development activity – or at most two or three activities – that have the potential to drive the most amount of growth to your business and profit.
This single activity will compliment some of the other lead generation activities such as building a greater presence on social media, online advertising campaigns and others business marketing activities.
How to develop an effective sales strategy
So what is the most important sales strategy that can effectively accelerate your business’s growth and how do you develop it? Below are five steps to developing a company-wide ruthless sales strategy:
#1]. Understand your clients or customers
Customers are the mainstay of any business and without them, your business will struggle to survive. As a business owner, you should map out your client journey both pre and post-sale. This will enable you to understand your client and what their needs are.
Also, you should examine and monitor your current business marketing and customer acquisition strategy. This is most imperative in order to help you understand what you need to change and where.
#2]. Reduce cost of sale and increase client satisfaction
What next after you have identified what you need to change in your current sales strategy? Now you need to ensure that necessary changes are applied.
Therefore, you should work on your current business marketing and customer acquisition strategy. You need to brainstorm how you can refine it to reduce the cost of sale and increase client satisfaction.
Your customer satisfaction is the key to retain them for future business. You should always remember that a happy customer is a marketing weapon especially when it comes to word-of-mouth marketing and brand advocacy.
#3]. Identify your most profitable sales process
Another thing that should be your priority is identifying your most profitable sales process. Your most profitable sales process is the process that helps you record more sales.
Once you have identified that process, think about how this integrates with your marketing to attract and gain return sales value of your ideal client. Think about your target customer.
#4]. Decide on key sales activity
Decide on the singularly key sales activity that if consistently applied in your business for the next 90 days, would lead to a step change your organisation’s growth
#5]. Assign resource and refine your process
Assign resource and refine your process to include this activity and monitor it on an ongoing basis. For example, add it as a recurring agenda point to your regular sales meetings.
Meanwhile, it is important to ensure everyone understands the importance this activity has over others. Remember that business success doesn’t come about in one day following one ‘right’ action, it comes from a group of highly focused, highly committed people doing a lot of smaller growth building activities on a consistent basis over a sustained period of time.