Sales Strategy | The Biz Knows

Sales Strategy

Having a sales strategy will help grow your business by focusing efforts on your most key customer audience, current and potential. Most effective sales strategies consider business objectives, product or service, and as well as target audiences and their geographical locations. Thus making the most of your time and capacity, and ultimately improving sales. Documenting your sales strategy will help you stay on track and evaluate progress.

Goals – It’s vital to set realistic and measurable goals. Be specific, such as how many items of each product should be sold per month.

Prospecting – Think of everyone you meet as a potential customer. No need to beat people over the head with details of your offerings, but don’t pass up a good opportunity to share with someone who could benefit. You should always be prepared with an elevator pitch. This should be no more than a minute or two to highlight your offerings and gain interest. If you consider mailings, cold calls, and/or email marketing, make sure you obtain a good list for better response rates.

Sales Activities –What sales tactics do you plan to use in selling products or services? Will they be offered at retail stores, online, over the phone, etc?

Time Management – Make the most of your time and set timelines for desired achievements. If time spent on a particular activity, such as email marketing, doesn’t seem fruitful, consider making adjustments. Also learn when it’s useful to pursue a lead or place them on the back burner.

Patience – It can take up to a year or two before you see real results. So keep at it and don’t get frustrated. Regardless of the outcome, every experience can be used as a learning opportunity.

Closing the Deal – All your effort are for not if you’re unable to close the deal. In order to get a commitment it may be necessary to sweeten the pot by cutting cost from the original proposal. Some strategies may include offering discounts to repeat customers, on bundled products/services, and if closing occurs by a certain timeframe.

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