Getting To Your Next Sale

Getting your Sales Strategy Right

Getting to your next sale starts with an effective sales strategy. Don't look to someone to tell you what that is. You have to define it for yourself - for your book of business. 

A well-thought-out strategy helps align you and your sales team's efforts in maximizing customer acquisition, customer retention and what we all strive to acheive, record-breaking deals. In this blog post, we will explore some key elements to consider when developing sales strategies.

Define Your Ideal Client

Before diving into sales tactics, it's essential to clearly define your target market. Understanding your ideal customer will enable you to tailor your sales approach and focus your efforts on the right prospects for your solution.

Get to Know Your Ideal Client

How is their business performing? When is their fiscal year? When are they more likely to buy? Have they purchased in the past? Who did you work with? Do they remain employed by that company? Further, have you mapped out the contacts you know or could get introduced to? Are they hiring or in a hiring freeze? What have you read about lately that would signal they're ready to buy?

When we pay attention to your client and to the person you are working with, you start deducing the likelihood of your sale and then tailor your efforts accordingly. 

After you identify your ideal client, think about all espects related to the likelihood of the sale - help your team understand exactly who your client is so they can recognize and report their progress. Regularly review and adjust these goals to ensure they remain relevant and attainable.

Set Realistic Expectations

Set your expectations straight. When you set your sales goals how feasible are they? 

You've got a quota to hit - how are you going to lean on your sales strategy and customer segmentation to acheive the target?

As of late, the average sales cycle in the Technology Industry has hovered around 180+ days. Said another way, for every one sales individual, that's one sale every six months - two a year.

Are you setting the pace for your team correctly? Just reflecting on the sheer velocity of a sale is valuable. What do you expect the productivity to be for a sales person in your organization and how does that align to your sales and customer strategy?

Have you been focusing your sales efforts on the right customers? How do you know? 

Empower and Support Your Team

Establishing streamlined and efficient sales processes is crucial for maximizing productivity and closing deals. Map out each step of the sales journey, from lead generation to customer onboarding, and ensure your team has the necessary tools and resources to navigate the process smoothly. Regularly review and optimize your processes to identify areas for improvement. In other words, are your systems, tools or expectations helping or hindering your sales team? 

Monitor 

Regularly monitor and measure your sales team's performance to identify areas for improvement and celebrate successes. In addition to turning inward to review key performance indicators (KPIs) such as revenue generated, conversion rates, and average deal size to track progress towards your goals - turning outward to understand the market and customer conditions are as equally important.  Continously adjust your tactics.

Conclusion

Developing a solid sales strategy is a continuous process that requires careful planning, execution, and adaptation. By defining your target market, setting clear goals, and implementing effective processes, you can position your business for sales success.