Process for Developing Effective Sales Strategy

 

 

10 Key Elements of Sales Strategy: 

Experienced and effective sales strategy is critical to bottom-line success. The company must consider each of these ten key elements throughout the sales strategy development: 

  1. Sales goals – tailored to drive toward the predetermined corporate goals 
  2. Sales structure – a determination of best representation and management structure, whether working with an existing team, adding temporary assignment, developing a new sales team, or expanding through outsourcing 
  3. Sales process – a look at efficiency throughout the sales cycle, from lead generation to support to post-close execution (with emphasis on finding new ways to add revenue throughout) 
  4. Compensation – the development of a compensation plan in alignment with corporate financial goals and budget 
  5. Training – an assessment of current skills and knowledge vs. gaps and how to fill them through additional training and resources 
  6. Tracking – choosing the tool(s) to best show current results vs. goals, for both sales and marketing operations (with emphasis on aligning sales approach with marketing efforts) 
  7. Incentives – the determination of the best motivational tools for the team(s) involved in sales and marketing 
  8. Management – a decision regarding type of sales management required to move the team toward targets (performance reviews that focus on goal-setting and measurement) 
  9. Flexibility – a way to include ongoing advisement and ability to make adjustments to market changes 
  10. Reporting – the identification of specific reporting, analytics, and/or client information that produces information to support strategic decisions 

 

Process for Developing Sales Strategy 

Step 1: Assess – identify all the components that will affect the sales strategy… 

sales strategy 1.png

 

Step 2: Develop a detailed sales plan…

sales strategy 2.png

 

Step 3: Implement the sales strategy using the 5 “T’s”…

sales strategy 3.png
 
Robyn Hounjet