What to consider when developing a sales strategy plan
A successful sales strategy plan will provide your business with clear priorities, goals, and outcomes that can help you increase sales.
Outline your mission and goals
What’s your business’ mission statement? What are the goals and objectives that will help you achieve this? Your mission statement should define what your business stands for and what it aims to achieve, while your goals and objectives should be aimed at executing your mission. Consider using the S.M.A.R.T. framework when developing your goals to ensure that they are specific, measurable, achievable, relevant, and time based.
Identify your ideal customer
Knowing your ideal customer persona is crucial as it will be the basis of your marketing strategy. Assess your ideal audience by researching their demographics, needs and wants while thinking about how your products or services have to offer them. Don’t limit your demographic research to age, location, and gender, but also consider their attitudes, aspirations, and lifestyle.
Conduct a SWOT analysis
Assessing your business by using a SWOT analysis can help you identify areas to consider when developing a sales strategy plan, by addressing:
Strengths:
- What are your strongest assets?
- How skilled is your sales and marketing team?
- What advantages does your business have over competitors?
- What resources are available to you?
Weaknesses:
- What are your areas of improvement?
- What types of complaints do your customers have?
- Where do you fall behind from your competitors?
- Are you working with limitations on resources or skills?
Opportunities:
- Are there changes in the business environment you can benefit from?
- Have there been changes in the market that could present an opportunity?
- Do your competitors have weaknesses or gaps you can fill?
Threats:
- Are your competitors expanding or getting stronger?
- How satisfied are your customers?
- Are there changes in the economy, consumer behaviours, or government regulations that could affect your sales?
