Why your company needs a sales strategy.
A Brief plan that can kickstart Your efforts right now.
While there is some stuff, there’s a lot of chasing, frustration, late nights and a fair amount of perseverance and patience. Sales development is that all important process of getting more sales for your business where you identify, connect with and qualify prospects and leads.
The sales development function is typically considered to live between marketing and sales. But let’s be real, in order to have a successful business where products and services are sold, again and again, you need to involve a heck of a lot more than just the sales and marketing folks.
The success of your products and services involve everyone in your company. That’s right. You heard it. From the front desk receptionist to the product developer all the way to the customer service operator.
Just like any marketing message you display in print, online, tv, you name it, your company’s entire response to the sales development process becomes an extension of your brand, of your business value. Your entire company should champion the resolution of client objections, challenges and always be looking for solutions and recommendations
So how do we help you build this amazing world class sales development process?
Because while your product is probably super awesome, they can’t always sell itself! We need to make your all hands-on company sales team to sing your product’s praises. Here are the 3 areas that we can get started on.
- Your pitch has to be clear.
- Your sales strategy has to be on target.
- And most importantly it has to be tested.
1. Let’s Talk The Pitch.
- Product sheets
- Sales presentations
- Microsites, websites
- Product videos
- Case studies
- Direct Mail letters
So the pitch is your message, benefits, why your product or service is so amazing. How will your potential customers/clients love this product and why? The pitch can presented in a variety of ways.
I’ve created hundreds of different collateral pieces over my nearly 20 years of sales development. The types of collateral can be also as unique to the company.
What are the components you need in a good sales pitch?
- Your brand story : Who are you, who are you to the customer?
- Clear value of the product : How does your product or service benefit the customer?
- Case studies, testimonials, product reviews : Who used it, loved it and why you should too? What did your customers get as a result of buying your products/services? Numbers are powerful stuff too. Why do you think McDonald touts over 1 Billion served.
- Product demos : Nothing sells better than showing how it works. That’s why you test drive a car.
- Customized to the clients needs : Every client/customer needs to feel the product/service was intended for them. It’s important that while you may be selling the same thing to everyone, how you present and shape that message should be geared to that client’s need.
How you deliver that pitch has been an amazing game changer.
- With digital tools ever expanding, sales materials are ever expanding as well. What once was available in print, can now be available in a variety of ways.
- What once was un-trackable, is now trackable and measurable.
- What once was limited in reach is now broadened without considerable added costs.
2. The Sales Strategy goes beyond Sales pitch or collateral.
A sales strategy must be comprehensive of your larger company goal.
Product or service plan: What are your product sales strategies - are your products serving the customers still? Do you need to add more products or different types of products? Should your products or services change or expand to include more features, benefits?
Audience: Who is your current audience, how did they learn about your products and services? Is your buyer base growing, declining, flattening? Is your customer base changing?
Pricing: How does your price stack up against your competitors? Is your product or service valued at the price you are selling at? Are you pricing yourself out of the market? Are you pricing yourself too low? When launching or relaunching a new product, how will you test the price?
Prospecting: How are you prospecting for customers/buyers. There are two ways to look at prospecting. Inbound vs Outbound.
Inbound Leads: Often generated marketing through a variety of marketing tactics such as ebook downloads, webinars, events. Depending on the company, it can go through a variety of type of company and size of a sales force, it can go through a series of qualifying sales representatives before it goes to the official closer. Yeah.. the closer. The qualifying sales reps may interest, determine their potential spend level and decide if it’s worth the upward movement to the next person.
Outbound is a whole new level of hustle. It’s actively discovering potential buyers that would benefit from your product. Identify who is the ideal customer, what do they look like, what do they do, where do they work, how do they work? And the hunt is on. Years ago database mining was far different game. Today, with professional databases like LinkedIn, you’ve got it all in one place. When you’re prospecting, you’re doing your homework, scoping out competitors, researching your prospect, researching the industry.
Customer Relationship Management: Today, there are countless customer relationship management tools that enable you to operate more efficiently and more effectively than ever before, some even free. Ultimately deciding on what you choose to use is based on size and need of your organization. One of the most important aspects of customer account management is Customer Service. Understanding how to properly manage your customers after the buying process is extremely critical. Acquiring your customer or client was hard enough, you don’t want to lose them over poor customer service or lack of product usage or product understanding. Your customers should become your brand advocates. For more information on customer management, check out future articles coming soon.
Sales Incentive Drivers: Sales managers know all too well what it takes to incentivize their sales troops. In my experience, one of the top drivers for sales teams is money, the ability to own their revenue streams. So if money is a hot deciding factor on driving sales teams to perform, it's up to the company to not only properly establish the carrot but also most importantly the measuring stick. Measuring stick has to be clear, consistent and fair. For more information sales drivers, check out future articles coming soon.
3. Testing Your Sales Strategy
A one size fits all strategy doesn’t work and it certainly doesn’t work forever. What may have worked for your sales approach 5 years ago may not work now. Your competition may have changed, your products may not be operating the same way, your price may not be as competitive.
Did this article help you? Think I'm missing something or have questions, shoot me an email at Jkim@mkinceptions.com. I would love to hear from you.
Tweet me @JisunKimNJ
Let’s talk about how we can partner together to reach your sales goals. For nearly 20 years, I have partnered with sales in both large and small sales divisions.
Whether you need help developing the pitch, expanding yours sales training, creating lead generation programs or identifying sales targets.