Should Your Sales Strategy Be Driven by the Size of Your Business?
An effective sales strategy functions as the framework that guides your sales team forward. Your sales strategy should help your team gain new prospects, convert more sales, and retain existing clients. Think of the sales strategy as an overarching game-plan that enables your business to build revenue and stay on track for long-term projects.
Whether you’re part of a small enterprise or a large corporation, it’s important to have a sales strategy that matches your company’s culture and takes into consideration the vision you have for future growth.
Tools to Scale Your Sales Strategy
A sales strategy has many facets. It’s not just about meeting short-term revenue targets or gaining new customers, it’s also about understanding company trends and big-picture goals. To this end, the most successful sales strategies take into account the objectives and vision of the company as a whole.
Understand Your Vision – To craft an effective sales strategy, make sure every member of your team is on the same page. You need to operate as a unified enterprise so customers not only appreciate the value of your product, but the culture of your company. Include future projections and plans for company growth from the get-go so your sales strategy facilitates long-term development.
Set Realistic Revenue Goals – It doesn’t make sense for a small business to quadruple their revenue overnight—it’s just not realistic! Although it’s fantastic to have big dreams for the future, try to scale your revenue goals in proportion to your business. If you understand your projected revenue based on data from similar businesses and past customers, you’ll be able to adapt your sales strategy to accommodate growth over time.
Outline Your Customer’s Journey – The way your customers move through your sales pipeline is determined by the size of your business and the number of resources you have to allocate to each step. Create a sales timeline that takes into account the number of reps you have and the number of resources you allocate to nurture new leads. This will help you improve your model and increase business on a sustainable scale, while avoiding biting off more than you can chew. You don’t want to compromise customer experience because your sales team is stretched too thin.
Elements of a Successful Sales Strategy
Once you’ve done the work on a big-picture level, it’s time to dive into the details that will make your sales strategy shine.
Create a Strong Sales Value Proposition – Today’s market is centered on value-based selling. This means that instead of finagling the best deal, customers are more interested in investing in companies that offer the greatest value to their lives. Your value proposition is a short summary of the components that make your business valuable to the customer.
An effective value proposition should combine a brief outline of the services you provide as well as highlighting the unique ways your company can address each prospect’s needs. The goal here is to showcase your dedication to the customer, and your ability to work with them to provide personalized solutions.
Focus On Marketing – Your sales team and your marketing team need to work together to create a wholistic customer experience. After all, they both deal with customer interactions and brand representation. It’s essential to keep these teams on the same page when it comes to your sales strategy. This way, your sales team understands the tactics you use to attract customers, and your marketing department understands how your team approaches customers to close deals.
Don’t Forget Your Existing Customers – Although it’s tempting to devote all your resources to drumming-up new business, you need to remember to nurture your relationships with existing customers too. In the long run, it’s more cost-effective to maintain relationships with repeat customers than to devote resources to finding new business. Include current customer outreach and development in your sales strategy to foster a sustainable, long-term customer base.
Incorporate Sustainable Growth into Your Sales Strategy
Ultimately, the goal of your sales strategy is to help your business grow in a sustainable manner. Without understanding your capacity for growth, it’s easy to overshoot the mark, or conversely, to fall short of your potential. Creating a versatile, effective, and growth-oriented sales strategy necessitates factoring in the size of your business for long-term development.
To help you generate business without overworking your sales team, considering hiring a lead generation service like LeadJen. LeadJen is an outsourced sales development company focused on generating qualified leads for businesses of all sizes. With a month-to-month contract model and scalable service options, LeadJen is dedicated to helping you achieve your goals while also staying on budget. With LeadJen’s growth-oriented philosophy, you can build your sales strategy with confidence.