Deciding that your company’s sales strategy will be to “sell more” is much like saying that you are going to succeed in business by “making money”. Sure, it makes a certain amount of sense, but there are several more specific steps necessary in order to make your sales strategy a success.
Every organization that has money coming in and money going out needs to create a budget in order to succeed financially, whether the organization is a household or a major corporation. The basics of a budget are simple, and the below may seem like an oversimplification, the necessity of a budget cannot be overestimated.
Establish the cumulative monthly costs of running your business.
Establish the estimated monthly profit.
Determine what amount of the monthly profit goes to what part of operating costs.
A realistic budget is an essential element to a sales strategy.
Next, evaluate the market for your business carefully.
What are the current market conditions that influence price, whether the price is for a product or service?
What price level are your competitors using?
Consider your budget and the current market conditions to determine your price point. This may require adjustment over time, since finding a competitive price point that covers your budget and creates a profit can be a delicate thing indeed.
No product or service will sell well if no one knows about it. Partner your marketing team and your sales team together to determine how to get word of your product or service into the marketplace effectively.
Gather customer reviews and testimonials and place these quotes on your website and in your marketing material.
Make sure your business website is attractive, easy to use and has relevant information in easy-to-find areas on the site.
Get on social media websites such as Twitter and Facebook. Set up an account for your business and use each website’s “Help” page to get buttons for each site on your website and vice versa.
Consider getting some help from industry professionals. CSR can help you define your objectives, find effective strategies and develop a plan of action.
For more information contact us! We would be happy to answer any questions. We have been instrumental in helping clients navigate today’s business challenges to reach success
What is the number one question you would have for the CSR consulting team about how to create an effective sales strategy? Post a comment on our blog!