“How do you write a sales strategy?”
- Determine what technology-based tools you’ll use.
- Document and update sales processes.
- Look at your company from your customers’ perspective.
- Always communicate your product’s benefits and your company’s USP.
- Keep reflecting on what works and what doesn’t.
- Stop wasting time on markets that aren’t your target.
Do successful businesses struggle with sales?
No.
Sales are necessary for every business. So, it follows that the reader of your business plan would want to know your strategy for bringing in sales.
Furthermore, if the cost of bringing in those sales is too high, then they count for nothing. A sales strategy will help you gain control of your sales cycle. Having control of your sales cycle will help your young business bring in steady, continuous revenue.
Beyond that, this sales strategy and the tools and processes that grow from it can help your business thrive as it moves beyond its infancy.
Here are six tips for outlining a sales strategy in the marketing & sales section of your business plan.
1) Utilize technology
The reader of your business plan is going to want to be confident that you know how to use every tool in the toolbox, so to speak. They know that your competition probably does. And if your competition doesn’t, then it’s a great opportunity to make your startup stand out.
A benefit of utilizing technology is its ability to automate the marketing process. This frees up time for employees to connect with customers on a personal level – when necessary.
Is there more to marketing technology than just social media?
You bet. Here are some other technologies to consider:
- Content management system (CMS) software
- Advertising technology
- Analytics tools
- Customer relationship management (CRM) software
- Search engine optimization (SEO)
Marketing technology helps you to stay top-of-mind with your customers. The first company they think of when they think of your product or service.
2) Develop a quality process
The reader of your business plan understands that there will be a learning curve for everything you do. Particularly with your selling process. However, they want to be convinced that you can climb these learning curves quickly.
Showing that you have the foundation of a quality selling process will give them confidence in your ability to succeed. Additionally, it will help those who sell for your company to sell as much as possible. An added benefit!
Are you concerned that you don’t know anything about documenting a sales process?
Start simple. Add complexity and tweak the process as needed. As time goes on, document what you’re actually doing. Is what you’re doing more effective than what’s documented? Less effective? This will help ensure that everyone who sells for you is adhering to best practices.
Knowing that everyone on your team is following your process will give you peace of mind. It will also make it easier to analyze your sales data and give yourself quality, actionable information to improve the process. Plus, it helps to identify the problems before they become catastrophic.
3) Take care of your customers
Is it easier to get a new customer or to keep an existing one?
You probably know the answer to that. You can bet the reader of your business plan does.
It is easier (and therefore cheaper) to take care of your existing customers.
Make sure that customer satisfaction is a prominent part of your sales strategy. Outline how you will keep your customers happy with rewards, engagement, customer service, or any other appropriate means.
4) Stick with a steady theme
People like consistency. Unpredictability does not breed trust.
Make sure that a consistent sales message is conveyed in the marketing and sales section of your business plan.
Here are a couple of things to think about:
- What are the benefits your customers will receive?
- What makes you unique from the competition?
If every piece of marketing and every sales interaction answers these two questions – you should be alright. Make sure everyone in your business, not just the sales team, can answer these questions.
Also, make sure that your benefits and your USP coalesce with the other sections of your business plan. E.g. market analysis, organization and management, and service/product line.
5) Always be learning
Make it clear to the reader of your business plan that continuous learning is part of your ongoing sales strategy. This will show them that you are adaptable and you will continue to improve your sales results.
Show them that you’re going to hold your salespeople accountable. This doesn’t mean that you have to rule with an iron fist. It simply means that you’ll keep the feedback loop open. This will show the reader of your business plan that you can keep your employees motivated and will get the most out of their abilities.
Have you ever regretted stopping to catch your breath and to think about a situation?
Probably not.
In the midst of executing your sales strategy, stop every once in a while and reflect on what’s worked and what hasn’t.
6) Focus on your target market
Remember the market analysis section of your business plan?
It was here that you honed in on your ideal customer(s). Time, money, and energy spent trying to sell to anybody outside of your target market are wasted.
Again, make all of your employees understand your customer avatar(s). Particularly your salespeople.
Everybody in the world isn’t going to want your product or service. You need to understand the people with a problem that your product or service will solve. Doing so will ensure that your sales efforts are effective and efficient.
Writing a sales strategy for a business plan
Obviously, I’m a big proponent of the power of accounting and finance in a small business. But, I know that sales are what keeps the doors open and facilitates a startup’s growth.
Convey to the reader of your business plan that you have a well-thought-out sales strategy. Make them confident that this strategy will not only help you give them a good return on investment (ROI) but it will also help you thrive in the long-term.