Sales Strategy Implementation
A sales strategy refers to an approach for winning new customers, along with developing and retaining your existing customers. It helps you in outlining your sales goals, setting objectives while covering all the significant sales and marketing tactics that should be used. For lasting growth, every business should create its strategy and then make it happen.
A strategy will help you in identifying who, where, why, when and how’s that will further guide your sales efforts for future. It should also help you in determining what you will do differently for achieving those goals and what your capabilities are as your goals should be practical and achievable. A strategy without capabilities will reap you no benefit, and you can’t sell something here and there, a plan or strategy is about making different choices. About the market, we will play around and where we don’t, unless you have a sales strategy – it is more likely to be like you are flying blind with no destination.
Book a meeting
Why it is important?
A sales strategy is essential for any organization from small to large because it helps in defining goals in future, where do you see your company in 5 years? How much revenue would you like to generate in the next three years? It focuses your attention on achieving those goals and provides a direction to your organization. So, that each department is working in the same direction and towards the same goal, without defined goals – you would not be able to measure the growth of your business.
It is not always about making money, and you must also focus on the impact the service or product has on the customer and also about sending the right message across. A sales strategy is a prerequisite before implementing CRM. If you have implemented it without it, then a CRM might end up hurting your cause. Getting to know which products or services are already working out for you would be better than looking at their history? Or what are you doing to retain your current customers?
Planning is the most crucial part of a strategy; for achieving goals, you must have a set of activities and deadlines. A CRM supports you in planning and controlling activities at all levels from team to individual. It also serves as an active channel for internal communication and as a management tool, to work towards the same goal as each team should receive the same information on time and the management should be aware of the status of goals. E.g. you want to generate more revenue from your existing customers, but your marketing department is working on locking new leads or vice versa.
The two principal activities of management and CRM supports both:
It refers to setting strategic direction in a company. This involves a certain degree of risk as strategic decision-makers are effectively determining what the company will do in the context of a risky external environment.
it refers to the monitoring of activities of an enterprise with internal control systems. It involves checking that those activities are being carried out correctly. While control strategy is set by strategic management, the implementation and monitoring is a junior activity.
There are three levels in the Sales Strategy
On a strategic level, a strategy is idea-based, it is typically for 3 or 5 years whose goals are set by the business owners or individuals. A strategic plan is an overview of the business, its objectives, values and vision. It is the foundation and will dictate decisions in the long run. It should be forward-looking, flexible and should focus on future growth. It is more about monitoring and controlling the business as a whole and makes decisions on areas like how many more retail stores we want to open.
A tactical plan brings a strategic plan to a concrete level and sets achievable and practical goals. It is responsible for the implementation of decisions made by strategic managers and ensures different departments are operating correctly. It describes the tactics an organization plans to use for achieving the ambitions outlined by the strategic plan. It is a short term plan that breaks down broader missions into small actionable ideas like defining goals, setting deadlines, budgets and resources.
An operational plan describes the day to day running of an enterprise. It gives a roadmap for achieving the tactical goals with a realistic time frame. It should be highly specific with a strong emphasis on short term objectives like increase sales to 150 units in a day or hire 50 new employees. It is more about controlling the day to day operations of an organization, reporting the problems or queries back to tactical management.
An idea based – long term goals
On a strategic level there is a ship that wants to reach from point A to B and the owner plans to reach there in the next two years.
On a strategic level the owner decided the ship should cover from point A to B, then on a tactical level the Captain would hop in and say okay. It will measure the entire distance, divide it into hours or days, measure the possible risk and roadmap the best route in the right direction.
The tactical team (senior sailor) now passes this information to the junior sailors. Saying okay, we have to cover XYZ distance in 3 months and we should cover xyz distance in a day. Allocate duties to staff including maintenance and how many hours each sailor would sail. It would also apply control for e.g. no one should take more than one leave in a month.