Sales strategies and planning
After identifying your sales targets, you can work out strategies, tactics and actions to achieve them.
Identify overarching strategies for increasing sales in your business. For example, you could:
- break into a new market segment by adapting an existing product for the market
- boost the average sale per customer by 10% using add-on sales.
When developing your sales strategies, think about:
- your market segment
- your customers' motivations and expectations
- your capacity to meet your customers' expectations.
Once you've developed your sales strategies, think about tactics to implement your strategies.
For example, you could:
Using your marketing plan
Your marketing plan considers the market your customers are in, and defines how you communicate to that market. Its strategies set out:
- the messages you will communicate
- your products or services
- your marketing objectives, tools and tactics.
Your sales plan identifies how you will approach and sell to your customers. Your sales plan strategies set out:
- your approach to attracting new customers
- your plan to increase existing customer sales
- your plan for achieving new targets and increasing your profit margin.
Sales action plan
The actions section of your sales plan will identify and list:
- the steps you will take to implement your sales tactics
- the sales team members responsible for implementing your tactics, by location
- when each action will start and finish
- how much each action will cost.
Check that your action plan supports all your strategies and tactics.
Allocate a budget for actions within your plan. Record the total cost of your actions. Be sure that you have the funds to implement your sales plan. If you don't, refine your tactics.
Conduct a cost-benefit analysis. Make sure the quantifiable benefits you expect to receive from your actions are greater than the costs they will incur.
I want to...
- The Income from Innovation Workshop 23/05/2017
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