By Make Money Is Art Team
Each company must develop a successful sales plan. The company may be able to postpone the sales plan until the first 100 or 1,000 customers are acquired, but at some point, it will have to maintain its popularity in the market and increase sales.
Building a clear and specific sales strategy is the best way to achieve continuous growth. And if you build a correct sales strategy, you will put your company on the road to success, but if you choose to work without a sales strategy, you are putting your company to failure.
Formulating a sales strategy correctly will help your sales team work more focused, whether you are running a small or a giant company, or you are adopting tacit marketing or intensive marketing, or you are looking to attract new customers, or keep existing customers. It can be said that the secret to success lies in focusing on a sales strategy that is appropriate to the nature of your business and implemented accurately and continuously.
But first of all.
What is the sales strategy?
The sales strategy is the primary driver of the company’s competitiveness and profitability. It represents a practical plan to attract new customers and develop sales to existing customers. Regardless of the number of your sales team, it can be said that the sales strategy plays an important role in the company’s ability to make deals quickly and effectively.
In general, the sales strategy includes the target market, the characteristics of the ideal customer, how to enter the market, and the sales methods and mechanisms. But always remember that you must develop your sales strategy in line with the growth of your company.
1- Excavation – define your target market:
Targeting the target market is essential before taking any further steps. A target market is a group of customers that the company is trying to sell their products to by targeting them by directing their marketing efforts towards them; so you have to ask who is the customer? Where do you find potential customers? What are their needs for the services they provide? Who is the owner of the purchase decision? What is their financial situation? What is the best time to start with them?
The main purpose of this stage in the selling process is to find the customers expected to buy from your company, and there are two types:
New lead: It comes as a result of company announcements. Or to whom sales representatives go to show their goods. This method usually involves many sales to people who may be willing to buy something and do not have time to research, so if what he finds in front of him, he usually buys it.
A regular and expected customer: This includes the effort made by the seller to make an old customer know what is new for him. It is important for the seller to know that the old regular customer is the most important customer expected to purchase his product.
The correct key to excellent customer prospecting is to think by identifying exactly what your product or service offers, in order to improve life or increase work productivity for the customer, then search for those customers in the market that you want and need to benefit from, when you meet with your customers Potentially, ask a set of questions to determine in advance whether this person is a potential customer or a wrong customer.
If you do not know who your ideal customer is, look at your current customers, and answer the following questions: Who are the ones that generate the greatest returns for your company with the largest profit margin? What problems does your company have to solve? Why do they deal with your company in particular?
Be aware that a sound understanding of, and a thorough knowledge of, your target market and consumer requirements and needs inevitably contribute to the rapid growth and development of your business, given the importance of this matter to the success of your sales, you will not work with everyone. If your target audience is small, your chances of success may be reduced. You may need to combine two identical target markets in order to increase the number to your advantage.
2- Find the customer – specify the extent of your participation:
After you define your goal, discover your business network, to make sure it is connected to the person or organization you are targeting. You are looking for an opportunity to fulfill your aspirations. When you are introduced to potential customers by your friends or acquaintances, be sure to follow them, and make appointments for meeting and networking, then, select other names in the list that are not related to a relationship, and contact them yourself.
As you search for potential customers, you may publish very broad nets, hoping to capture anything you encounter on your way. This may sound tempting, but it is actually a poor method of investing your time and effort. Do not strain yourself by expanding your search, but strive to master repayment.
And if you have what we hope for you from many, many relationships with your clients, whether current or potential, we remind you that these days require strengthening these relationships. Look for a more serious search for ways to help you solve potential problems in their business. And the meaning of this saying is not limited to selling more of your products to them, but also includes the possibility of contacting them with experts in different fields, assisting them in a specific project, or guiding them to benefit from other resources.
3.Understand the needs of the target customer.
Whether you provide software or material service, you must understand how to attract the target customer, and decide the number of profits that you want to get from him, as this gives you the ability to know how to reach customers, and puts you in front of three options:
Joel York has built these hubs, and they represent three basic sales models in the world of software services and are a great way to understand your next step. (The lower right quadrant represents the use of a complex sales method to attract low-value customers, and therefore is not applicable and does not deserve to be taken into account.)
Many startups find themselves in the lower-left quadrant when using this model, as it is the easiest to achieve expansion, but the problem with this quarter is the presence of a large number of low-value customers, which limits the ability to attract new customers, spending $ 300 for Attracting customers to a $ 99 product is not a good idea economically.
Therefore, you must choose your quarter based on your field of work, as choosing the wrong quarter may make you fail before you start.
Here are some examples:
- Some areas are known to be difficult to reach. For example, content marketing may not be a suitable option for dentists, just as it is suitable for developers, which means they have to pay to attract customers.
- Some areas deal with annual contracts, confidentiality agreements, and service level agreements, which means that you need to invest in a sales mechanism.
- Some areas depend on PowerPoint presentations, the qualification of new employees, and their training on-site, which means that you need high-value contracts to achieve profits from customers.
Understanding self-sales and compound sales, choosing between them, and determining customer value undoubtedly helps you know how to reach them.
4. Know where to use self and combined sales
If you sell contracts with very low value, say $ 2,000 annually, it is very difficult to use a compound sales model. But if your sales cycle is within 20-30 days, and you receive at least two or three calls from customers, it means that you must use the combined sales model to make sure that everything is working.
People usually don’t feel anxious when buying online, but when it comes to as much as $ 5,000-10,000 they prefer talking to someone first. Despite the randomness of the previous number, but this threshold already exists.
5. Distribute the tasks clearly and accurately among the members of the sales team.
Many salespeople, especially beginners, try to follow multiple methods, but this is not true, as the focus leads to excellence, so make sure when formulating the sales strategy to define separate roles for your team members, stimulate the right sales methods and give them a priority.
Let us take implicit marketing and intensive marketing as an example, they require completely different skills and mechanisms of work. The implicit marketing team must pay attention to analyzing customer trends on social media, and strive to bring high-quality visits, and increase the rate of converting visits to opportunities using certain methods Like instant conversations, the intense marketing team, in turn, has to show the advantages of the product to customers. In summary, they are two different teams that require different delegates and different sales methods.
Whatever model you choose, it is important to choose it with personal conviction, an awareness of the pros and cons of each model, and an understanding of how to exploit these positives.
6.Determine the specifications of the ideal customer
Can you as a startup manager describe your ideal customer? You should know that the more accurate you are in describing your ideal customer, the better.
But describing the customer should not be so vague that the company focuses on a very large base of potential customers, and wastes time and effort trying to attract unqualified customers.
Likewise, the ideal customer description should not be very specific. It should not be, for example, a frustrated mechanic in his thirties who loves to play German board games, read to Nietzsche and watch mixed martial arts. Rather, the ideal customer description should be accurate enough for you and others to identify.
But how would I get to know the person in the example if I wanted to sell something? where do I start? From the meeting of the mechanics? Or from the games of board games? Or in Nietzsche’s fan forums?
It can be said that describing the ideal customer should achieve three purposes:It allows quick identification of potential customers.
You can easily describe it to someone else so that he can, in turn, find potential customers.
The description should be specific so that computer systems can be built to identify potential customers.
Good examples for describing an ideal customer include: Vice President of Marketing for the regions subject to the European General Data Protection System.
Technology sales heads who lead teams of more than 50 people.
Successful supply chain executives.
Each example above represents a good description of the ideal customer who is easy to find with customer attraction tools, easy to describe for other team members to practice with, and also easy to enter his description into computer systems and programming to find this potential customer.
Thus, startups must define precisely the specifications of the ideal customer, as having a precise and precise description is essential for growth.
7.Provide advice and advice to customers
“What has changed in the world of sales?” Many people ask. Twenty years ago, you had to talk to salespeople only when you needed to buy a product, they had the information you needed. Experienced sales representatives have been giving you this information in exchange for other information they get from you, such as: How much is your budget? What are your needs?
Today, however, you can find the five best suppliers in a specific field while you are sitting in your home and on your bed. You can know what they provide, the differences between them, and the cost of the services they provide. You can also try many products for free. So the need to manage sales has become in doubt, right?
This necessitates that the sales personnel exert more effort to provide additional value-added services, therefore:
Serve as an adviser and mentor to your clients.
Do your best to improve interaction with people.
Understand the goals the company seeks to achieve and the challenges it seeks to overcome and make sure that the overall marketing strategy is consistent with the nature of the company’s business.
Tell the story from the perspective of your customers.
Don’t forget to keep in touch with your customers even after work is done.
These are the skills that the best sales representatives use to implement the sales strategy effectively.
8. Slow down before boarding.
With the development of an emerging software services company from a small company to a mature company, it has aspirations for growth, and a desire to expand the marketing strategy to reach new customers, and increase the product’s impact on existing customers.
And entering the market according to the self-sales model is the natural path of development and growth, as this model allows an emerging software services company that has succeeded in building a large customer base for very simple products that introduce additional features, provide new price quotes, and add a number of sales representatives to the crew, And that is until she begins her quest to increase the average monthly sales price from $ 10 to $ 100, $ 1,000, $ 10,000 or more.
However, these simple and straightforward methods may not be compatible with the overall strategy, operational and cultural shifts needed to reach success. The self-sales model, despite its simplicity, involves a huge market, characterized by low cost and competitive ability. On the other hand, the corporate sales model has a distinct product that usually depends on advanced innovation.
Keeping the simplicity of the self-sales model in emerging software services companies will create more sophisticated products and sales methods, although close to the original, simple product. It is worth emphasizing here that these products and mechanisms will require careful planning and careful implementation. Should the products be shown in separate offers, or in different parts of one show? Should rapid sales be increased by focusing on self-sales customers, or is the duty to find new ways to reach customers?
It is usually said that going up in the market is easier than going down, and that may be true, but it is not easy to go up without giving up on your clients below.
9. Trying the sales strategy before adopting it.
The sales manager, the founder of the company, or even its CEO sometimes feels enthusiastic about some new ideas and wants the entire company to pursue his idea. But the rapid movement in different directions will only create a state of confusion and hinder the company’s progress.
Therefore, the culture of experience must be rooted in senior management down to the entire company. Taking tests, failing, and returning again requires a measure of courage, so management must make room for experience, and encourage creativity without consequences.
So how do you conduct a disciplined experiment? Start with the hypothesis “What exactly do you want to test?” Then define the different factors, design the experiment mechanism, and define the time frame. Be clear about goals, benchmarks and performance indicators that you will use to decide whether or not the experiment will succeed. After completion, rigorously evaluate the experiment. If the experiment is successful, then the next step is to know how to get the most out of it.
10.Use partners to accelerate growth, not find it out of nowhere
First and foremost: If you are looking to get the first 5 or 150 clients, then distributors and sales partnership agreements are not the right channels for you.
If you just find a viable product and try to sell it to learn from real customers, these channels are not right for you.
If you do not have a stable and stable level of customers and monthly income, then these channels are not right for you.
The reason for this:
Distributors and Partnership Agreements are strategies to accelerate existing growth, not to create growth from scratch.
These strategies are good only if there is an effective product, as the incentive for distributors and partners is to satisfy customers and take profits, and if your product does not achieve them, they will not invest any effort to market it.
However, if your company’s age ranges from six months to one year, and you have a product that is widely popular and growing, and if you try content marketing, paid advertising, implicit marketing, and intense marketing, and you succeed in generating income of hundreds of thousands or millions of dollars, then so Another story.
The bottom line is to only use these channels in time when you are ready for this type of expansion
Follow-up is one of the most important elements for a successful selling strategy. The purpose here is to ensure that all steps involved in completing the sale such as arranging the delivery, receiving the price, and ensuring customer satisfaction are taken in full. Do not despair and follow up on all pending transactions for potential customers on a daily basis, renew your contact with clients interested in your services, and leave the matter pending with the customer so that your contact is not only to ask about the sale, and the follow-up turns into a troublesome process by the customer.
Instead of making cold calls – starting with a person you don’t know – with a hundred different companies, you need to define your ideal customer model, and target your search for companies that are closer to your model.
12- Define your questions and focus your offers:
Wherever you meet a potential customer or an actual customer, make sure that your offers are directed directly to their issues. Go beyond the show reviews of you and your company and focus on what makes your potential customers see how you will benefit them from using your product or service if your product will save them money, tell them how exactly this savings is, and if it will improve their productivity or reduce errors, tell them clearly and precisely how to do it.
These days, decision-makers do not cancel the purchase, but rather they become more interested in getting better value. Be aware that listening is the first commandment of sales.
Now you may be wondering how to display the product? This is done through the following steps:
- Explain the unique features of the product, focus on the product’s successes, and support it with statistics.
- Do not overestimate the technological aspects, so as not to lose the interest of the less-specialized customer.
- Repeat your company name and product brand name from time to time.
- If your product has a defect, show it, but in general, and never try to eliminate competitors by attacking, but rely on the potential of your product.
- Pay attention to customer concerns to create the Comfort Zone or the comfort zone for the customer. As a seller, you sell every day, perhaps dozens of times, but the customer may buy your product for the first time, so he may be worried and apprehensive.
save moneyMAHMOUED ISMAIL
March 11, 2020