A sales strategy is a concrete, step-by-step plan by an individual or a company to sell products or services for the purposes of generating and increasing revenues. It is the plan that enables you to successfully sell your products or service again and again. This strategy is always tested, evaluated, and optimized to facilitate the achievement of desired results.
In other words, a sales strategy involves understanding your unique selling points, identifying your target market, developing your pitch, and identifying the best sales channels. Done right, a strategy gives your sales team a clear focus and allows you to seize opportunities like a well-oiled machine.
- A clear Ideal Customer Profile
- A SWOT analysis
- A clear market strategy
- Clear revenue goals
- Clear positioning
- Clear action plan
Current & Past Trend Analysis
Sales – Key questions –
- How much did your team sell?
- Who sold it?
- To whom did they sell it?
- How much will result in repeat business?
- Which clients brought in the least and most profit? Make sure to add in support time!
- Which clients had the shortest sales cycles?
- Which clients had the highest revenue?
- What has changed?
- How are you positioned to achieve the revenue targets you have identified?
- Where is the most logical place to look for growth?
- What exists to support the desired growth?
- What additional support will your team need to achieve the desired increases?
By understanding where you have been, you can begin to determine where you should go.
Whom to sales – Customer Profile
For most companies, 80% of revenue comes from 20% of clients. By reviewing your previous year, you can figure out which clients spend the most money, buy more than one product, are the easiest to work with and have the shortest sales cycle. Figure out what your top clients do and make a list of those criteria. This will become your Ideal Customer Criteria.
Demographics and psycho graphics of ideal customer to create a complete profile.
An ideal customer profile provides guidelines for your sales reps that help them spend their time efficiently on prospects who are most likely to convert and deliver repeat business quickly.
To get to the level where you can consistently generate desired results, you need a well-defined sales strategy that also covers your marketing plan.
In essence, the importance of your sales strategy goes way beyond the bottom line. It helps you modify who your customers are and how you approach them as well as fine-tune your sales tactics, and find the right people for your team.
How well is your company positioned to grow existing accounts, find new accounts like the ones you have, and land new ideal customers? Pull your sales, marketing, and product teams together to do the SWOT.
A SWOT is not an exercise in imagination. It should be as rooted in reality as possible. Your job is to figure out how to leverage your strengths to capitalize on opportunities. Consider your weaknesses and threats, the internal and external obstacles that will hinder your ability to achieve those goals. Ask yourself and your team what needs to be done to minimize these threats and weaknesses. Be specific in your efforts. Look for the reasons you are not selling more to existing clients, and the reasons reps are having a hard time closing business. Understand which products sell well and why.
Required information to build your plan-
To Build Market Strategy
Now that you have assessed where you have been and what has worked start thinking about where you are going.
This is the time to think about a market strategy. Consider the following questions based on your work so far:
- How much can you grow existing accounts?
- How can you leverage existing accounts to get referrals?
- How much can you increase revenue inside existing territories with existing products?
- How much can you increase revenue inside existing territories with new products?
- How much can you increase revenue outside existing territories with existing products?
- How much can you increase revenue outside existing territories with new products?
It is likely that the cheapest, fastest revenue will be from existing accounts, then referrals, and on down the line. The slowest and most expensive new revenue will result from cultivating sales for new products in new territories. I would start this process with large account plans for your top 10 clients.
Set Revenue Goals
When you combine your given revenue targets with the market strategy you’ve created based on an assessment of the past and current situation, you can generate realistic revenue goals for territories and individuals.
Now is time to think about what support your sales team needs to reach these goals. Get your marketing team, sales team, and product team together to work on a plan.
Handing your sales team new quotas with no basis, in reality, will leave all parties disappointed and frustrated.
The market strategy you created will help determine how you need to position your company and products to achieve growth. Remember, you have different market segments that each need a clear positioning plan.
- Large Accounts
- Opportunities inside existing accounts with different product lines
- Opportunities inside existing territories and markets
- Companies that meet your ideal customer profile
- How will you identify them?
- How will you make them aware of your product?
- How will sales and marketing work together to prospect and sell
- New Markets, New Products.
It is not sufficient to ask salespeople to figure out the positioning. The sales, marketing, and product teams need to work together to create buyer personas or positioning statements and value propositions that meet each different need.
It is time to implement a well-functional planning process.
Now that you know how much revenue you need to get, and where it should come from, each sales rep will need to create a funnel that shows how they intend to generate that revenue. They may be more successful working with marketing and including existing leads that support specific goals.
When your sales reps create their funnel, coach them to ask themselves the following questions:
- How much of each type of revenue do I need to make?
- How many sales does that represent?
- How many calls does that represent?
- How much time does that represent?
- If I am calling on existing clients, how many calls do I need to make to close 10 existing clients on new products?
- How many new ideal customers will I need to call on to close?
Capture the answers to these questions on each rep’s funnel, along with next actions and timelines. But, worry less about close dates and more about next actions and next action dates.
Above steps are the basis of Sales Strategy . At the end of this process, sales team will have clear priorities everyone understands, clear outcomes everyone can measure, clear guidelines everyone can follow and clear goals toward which everyone can work.
- Run sales campaigns
- Organize sales documentation
- Reports to optimize processes
- Territory Management
- Sales Force Management
Adding value to your business
Offering Solutions –
Business Strategy, Brand Development and Organizational
key drivers of Customer Value
By developing solutions through a customer-centric brand approach.
By deploying them across Business Operations, Branding , Digital Customer Engagement & People Effectiveness domains
PROFITABLE GROWTH DRIVERS
- Right Capability – Develop & Deploy People-Process strategies thatorganisational culture & capability
- Right Strategy – Develop & Deploy aBusiness strategy to win in the marketplace Right
- Right Customer Management – Develop & Deploy an effective Branding Strategy communication plan for better customer Connect
Key Functional Areas of Management –
- Human Resource Management
- Production Management
- Sales & Marketing Management
- Supply Chain Management
- Financial Management
- Scope we Cover – Sales &Marketing, operations, People & processes for Customer Expansion & Business Law
THROUGH THE BRAND
- BUSINESS STRATEGY & OPERATIONS
- Entry, Growth & Diversification Strategy
- Business Model & Structure
- Supply Chain Management
- Retail Operations Management
- Channel Management
- Business Process Improvement
ORGANIZATION CULTURE & CAPABILITY
- Culture Audits & Transformation
- Organisation Structure
- Competency Framework
- Learning & Development
- Performance Management
- Inter-functional Alignment
- Business Excellence
- Brand Strategy
- Brand Identity & Architecture
- Advertising & Communication
- Packaging & Point of Sales Development
- Retail Customer Experience
- Brand Activation
BUSINESS PERFORMANCE MATRIX
- Business Analytics
- Market Research & Consumer Insights
- Customer Engagement Tracking
- Brand Health Tracking
- Brand Valuation
DIGITAL CUSTOMER ENGAGEMENT
- Website Development
- E Commerce Enablement
- Digital Campaigns
- Social Media Marketing
- Analytics & CRM
- Apps & Augmented Reality
Digital Marketing Services
To make aware & Connect with right Prospect with your products and services easier to trace where it is required most?
Do you have right & meaningful messages to connect ?
If the answer is no, or if you’re unsure, we are here to help you create a marketing strategy that meets your prospects at the right place, the right time, and with the right message.
As Marketing consultants specialize in understanding your customer’s need & aspiration to purchase. We can help you develop a digital marketing strategy that helps create easy to find, engage experiences that translates in action& Change Buying pattern / Behavior through social network community in relation to your brand.
online market place is an opportunity which is less expensive than traditional marketing with larger reach But highly innovative & Competitive . You need a digital marketing partner that not only understands your customer need but how to develop an online marketing strategy that may help to get associated with your brand . customers may be looking for Y but with engagement on Social Media may decide to buy X if your brand presence is well designed & Positioned on Digital Platform.
As service Provider of digital marketing , you can ask for the services of Corporate Advisor for specialized marketing consulting services that will include:
Content Marketing – First Impression is last Impression-
Your online content and properties are often the first impression your customers have of your brand. Creative, innovative and optimized content coupled with amplification best practices is a killer combination that helps your business easy attract, engage, and convert your target audience. Our content marketing services Place your brand close to prospects & Engage them to attract consumers / Customers with creative, top quality digital content.
Search Engine Optimization – Art to be on Top
To identify real Connect to Optimize your web page / site & to retain or to upgrade positioning is a real challenge , when customer / Consumer looking for desired Product / Brand . Competitive on line advantage is the greatest successes with a strategy that employs optimization best practices. SEO Plus takes into consideration search engines, social network and online news media preferences while catering to your customers’ needs. Increase your online visibility and put your brand in front of the right audience, on the right channel, at the right point in their purchasing journey with our SEO services.
Social Media Marketing –
Understanding trend of Customer / Consumer is key to your brand’s success in social media. On Line Buying behaviour , from Searching to sales conversion, may be over weeks or months of information Collection , consumption pattern to create likewise marketing plan to suit end users / buyer . Our expertise of traditional marketing, search marketing and social media to work for your brand, to improve direct website traffic, brand buzz and search engine rankings.
Influencer Marketing – Connect with Leader
Everyone is an influencer sometime , somewhere .influencer marketing isn’t only always about pairing your brand with a celebrity spokesperson. Influencers can range from popular industry speakers and authors, to boots-on-the ground industry experts and up-and comers. Our unique approach to influencer marketing can help you reach your target audience by building relationships with influencers who already have industry authority and credibility, and match your brand’s values and those of your prospective clients.
Online advertising allows brands to reach out beyond their existing networks, to tap into new, highly targeted audiences via search, social or display ads. We ensure companies get the best ROI in their digital advertising efforts through strategic planning, top quality ad creative, and ongoing campaign measurement and optimization.
Understanding the path from discovery to conversion of your customers is key in determining about changes you can make to convert more customers / Consumers . Our data-driven approach will help us to determine which metrics are most important and what actions we can take to help you convert more customers. Additionally, in order to measure your marketing activities against overarching business goals you must analyse the wealth of data at your fingertips. This data will help you identify successes or inefficiencies, as well as drive future content and planning for website improvements. Our Analytical Charts solution helps you not only see a full, real-time picture of your data, but our data analysis team will serve you actionable insights every month to keep those numbers going up and to the right.
We offer an integrated mix of internal marketing services and solutions based on what it will to Attract, Engage and Convert your leads and Prospects to Consumers /customers.
1.Strategy& Business Development
- Growth, Diversification Strategy
- Business Model & Structure
- Financial & Operational Plan Development
2.Business Performance Measurement
- Business Analytics
- Market Research & Consumer Insights
- Customer Engagement Tracking
- Brand Health Tracking
3.Market Strategy Development
- Entry Strategy
- Business Plan Development
- Go-to-Market Strategy
- Partner selection
- Implementation Assistance
- Supply Chain
- Retail Operations
- Channel Management
5.Brand Valuation Services
- Market Performance Analysis
- Brand Strength Analysis
- Environmental Analysis
- Brand Valuation
Promotion of Goods
Advertising and Sales Promotion
Goods or products are manufactured or produced at one place called place of production and the customers are located at the different places of the country .
Unless and until the customers do not know about availability of the products, they will not buy the product.
Hence, having produced and priced the products, next is role of marketing to inform the customers about the product. So informing to customers is called ‘promotion.’ How , where & when to Promote is a critical element in marketing activities. Promotion decision involves decision on advertising, personal selling, sales promotion, exhibition, sponsorship, and public relations which are nomenclature as ‘promotional mix.’
It is the product communication made through promotional tools that helps the prospective customer form certain expectations about the product. If communication done and used rightly, it can raise customer expectations and drive sales. It may also happen that the product is excessively hyped through communication or promotion and, in turn, customers’ expectations are raised about the product but when the customer actually uses it does not find the product up to the expectation.
In such case, customers’ disappointment engenders negative word-of-mouth and, in turn, a permanent dent in the organization’s image and goodwill. This calls for the use of promotional tools with great care and consideration.
Promotional mix needs to be gelled with the elements of marketing mix. Here are some solid justifications in support of this view. It is appropriate to advertise expensive product like some sophisticated machinery through personal contacts to inform the limited number of customers about the machinery.
Promotion of such expensive product through advertising will be costly to inform a few customers. On the contrary, an inexpensive product like toothpaste can be advertised through mass media to inform the large number of customers about the product.
Four promotional tools for advertising product:
- Personal Selling
- Sales Promotion
However, entrepreneurs generally make use of advertising and sales promotion for communicating the customers about their products or services. A description about these two medias is in order.
Advertising denotes the means employed to draw attention to any object or purpose. In the marketing context, advertising has been defined “as any paid form of non- personal presentation and promotion of ideas, goods or services by an identified sponsor.”
The basic objective of advertising is making aware about the products among the customers and prospects to make them buy the product.
Key functions performed by advertising-
- To make an announcement of sales promotion scheme
- To expand the distribution network
iii. To boost the morale of the sales force
- To improve the image of the organization
- To cope with the competition
Following is an illustrious example of NIRMA advertising that confirms that effective advertising helps sell the product today, tomorrow and day after tomorrow.
There are a number of means available to an entrepreneur to advertise his/ her product like newspaper, magazine, trade journals, radio, television, cinema slides, posters, hoardings, handbills, yellow pages, etc. All these are called ‘advertising media.’
All advertising media are classified into two broad categories:
(i) Print Media, and
(ii) Electronic Media.
The basic purpose of advertising is telling and selling the product to customers. For these advertising needs to be effective in the sense it brings the listener nearer to the product. Through continuous persuasive efforts, the listener ultimately is influenced in favour of the product and demands for the product. Selection of an advertising media depends on its effectiveness and cost involved in it.
For example, considering the high cost involved in advertising in national dailies, many small-scale enterprises cannot think of advertising in such media. Similarly, if the enterprise is catering primarily to local market, advertising such product in mass media like national dailies is ruled out both in terms of cost involved in it and its effectiveness.
- Sales Promotion:
Sales promotion includes such promotional activities which are designed and meant to influence and stimulate the sale of the product by offering some attractions also called incentives. There is a theoretical difference between advertising and sales promotion. While advertising gives the prospective customers a reason to buy, sales promotion offers an attraction or incentive to buy. Entrepreneurs can use a large number of promotional tools, or say, incentives to stimulate sales.
The incentives can be directed towards the consumers and the trade.
Consumers Examples –
- Price –Off 2. Samples 3. Premiums 4.Coupons 5. Cash – Refund Offer
Trade Examples –
- Free Goods 2. Dealer Gift 3.Dealer Sales Contest 4.Dealer Conferences 5.Display Goods
Two important features
2.Sales Promotion –
sales to promote product and sale.
But both of the features are differ in their way.
The form of mass media communication is advertising which is directed towards influencing the end consumer.
Whereas, on the other hand, promotion and sales deal with the mass communication directly towards influencing and informing the distribution channel.
For the promotion of product both, advertisement and sales are important. For the survival of company in the market, both of these factors are enable the firm to face the competition and to create unique position in the global market with their rivals.
Advertisement and sale are useful in the launch and introduction of any new products and to promote the brand. The overhead expenses can be reducing by increasing in the production and these two factors sale and advertising lead to increase in production.
But the disadvantage of promotion and advertising is it involves a huge wasteful expenditure. Promotion of any product and advertising of the product are very costly methods and do not have any guarantee that it helps in increase the demand and increase the selling ratio of the production. Some time people are ignoring the advertisement or most of the time advertising don’t attract attention of the people.
ADVERTISING: by proper advertisement company can attract people to buy its product by giving such attention like; description uses, source of its availability, price and its superiority over other brands. Advertising is an art to familiarize market, public and society with the product. Advertising is a paid form of commitment not only merely propaganda.
According to Dr. Stanton “Advertising consists of all the activities involved in presenting to a group,a non-personal, oral or visual, openly sponsored message regarding a product
or services, or idea”
MAIN OBJECTIVES OF ADVERTISING:
1) To create a demand for new products by explaining its utility
2) To announce a new product or service
3) To increase its sales by attracting new customers
4) To create brand preferences
5) To expand the market for new buyers
6) To assist the salesmen in their selling efforts
7) To warn the public against imitation of the product of the firm
8) To prepare ground for new products
9) Barring new entrance
10) To make special offers through sales promotion
13) To neutralize competitors advertising
15) To enhance goodwill of the firm
Most Important –
How to Spend ?
Where to Spend ?
When to spend ?
Why to Spend ?
If not evaluated well
Advertisement spend may be wasteful exercise.
Legal Consulting –
Business law is commercial law and refers to the laws that govern the dealings between people , Intellectual Property – Copy right , Trade Mark & its Protection and organization commercial matters.
There are two distinct areas of business law;
Business lawyers can provide their clients advice on the pros and cons of different actions. In any business plan / strategy , lawyers can help to mitigate risk & meet statutory Compliances . A lot of business law may prevent problems that can hurt the business or cause legal disputes.
Business law may include any of the following:
- Business formation
- Employment considerations
- Sales &Services of goods
- Contract drafting and negotiations from Manufacturing to Consumer
- Trade Marks Registration & Protection
- Intellectual Property
- The Factories Act-1948
- Industrial Dispute Act – 1947
- Labour Act 1970
- Employee PF Act 1952
- Employee state insurance Act
- Minimum wages act
- Payment of Bonus Act 1965
- Gratuity Act 1972
- Payment of wages Act
- Workers compensation Act 1923
- Shops & Establishment Act
- Trade Mark Act & Copy right Act 1957