Business readiness

Sales Strategy

What is a Sales Strategy?

A sales strategy document outlines your company’s sales objectives and targets with the steps and processes to achieve them.

It covers:

  • Objectives: Short and long-term sales goals and targets of your company for a predefined period
  • Timelines: Milestones and sales process lifecycle to be followed by your company to achieve your sales objectives
  • Strategies and Tactics: Strategies and steps formulated by your company to achieve your sales objectives
  • Sales Team: Structure and size of your sales team, their roles and responsibilities, training, sales quotas, compensation structure and performance incentives
  • Channels: Key sales channels and partners used by your company
  • Customer and Market Focus: Target customers and markets of your company
  • Budget: Expected expenses that your company will incur to achieve your sales goals and objectives
  • Performance Assessment: Methods and KPIs used to track and evaluate the performance of your sales strategy
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Why is a Sales Strategy important for business today?

A sales strategy document enables your company to:

  • Define and communicate the short and long- term sales objectives and timelines within your company
  • Implement a sales strategy that is most suited to your target market and train your sales teams accordingly
  • Plan the allocation of budget to achieve your sales objectives
  • Map out your sales lifecycle and understand customer acquisition and retention strategies
  • Develop a baseline estimate of resources required to sell your business offerings

Why is a Sales Strategy important for an event tomorrow?

A sales strategy document is important for an event tomorrow, as it helps:

  • Understand the sales process of your company from lead generation to conversion and retention
  • Assess the roles and responsibilities of your sales team, their performance and efficiency in meeting targets
  • Identify key target markets and your company’s customer base
  • Assess historical sales targets, strategies adopted and the timelines to achieve them
  • Understand the reasons behind any volatility in sales performance
  • Analyze the financial and operational risks in your company’s sales strategy
  • Benchmark the sales goals and targets of your company against those of competitors

Pros of addressing a Sales Strategy

  • Facilitate the acquisition of new customers and retention of existing customers
  • Position your business offerings to different customer segments effectively
  • Monitor and track expenses related to sales strategy implementation
  • Realign your sales strategy by periodically tracking sales goals and preparing for any volatilities
  • Helps plan the structure and size of the sales team and assign them targets as per their capabilities and potential
  • Improve decision-making by outlining your company’s sales goals, strategies and timelines

Cons of not addressing this topic

  • Increase in risk of customer loss due to lack of clarity on retention strategies
  • Difficult to track marketing and sales performance as performance metrics are not defined
  • Restricted ability to identify and analyze your target market and customer base
  • Potential duplication in the sales team efforts with lack of clarity on strategy and relevant coordination required to achieve goals.

Readiness isn’t optional - business leaders need to be ready for change

We've worked with companies like yours for more than a decade, and on over 30,000 deals. From these experiences, we’ve learned that for a business to succeed, it must know what it has and where it’s going. Download our readiness guide for total confidence in decision making when it comes to your company. Realize your value. Own your future.
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