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The fact that sales are the pillar of any company is a given. A company that is unable to sell its products has no future and, therefore, it is an aspect that should not be left to chance. It is paramount for any company to work on its sales strategy if it aims to be profitable; which is why today we tell you all you need to know to improve them.
What are sales strategies?
A sales strategy is a plan developed by a company to succeed in selling its products. In other words, it isany technique that helps agents sell products and close transactions. Contrary to what you may believe, sales strategies are not dependent only on the sales department, but rather, all levels of the company should be involved and dedicated to them.
But, what do you have to keep in mind when creating sales strategies?
Actions to be performed
Time to be dedicated to them
Company sale channels
Objective for each channel
Analysis and adjustment tools
But this is not all. In order for a sales strategy to be truly effective, there are for essential factors that should never be disregarded:
Analysis and adjustment
Measuring actions undertaken and verifying their ROI (return on investment) is essential to study whether what is being done works. Sales strategies don’t necessarily have to be definitive; instead, you can discard any one that does not work and replace it with new ones.
It is important to analyze what the money is being spent on and whether that investment is profitable. In order to accomplish this, there are several tools, such as A/B tests, which help various methods to be tested to see which one works better; or benchmarking, through which you will be able to know what your competitors are doing and get closer to them.
Without clear goals it is impossible for the strategy to work, because you don’t know what you want to accomplish. Therefore, defining goals will help you determine specific actions to accomplish them, motivate employees and justify the various actions undertaken.
A company’s productivity can always be increased, and sales strategies are a good way to accomplish this. There are two ways of going about it:
- Through technology: having advanced tools that help you improve sales processes.
- Through internal marketing: undertake internal marketing actions that motivate employees.
Now you know what aspects to keep in mind when designing a sales strategy; but you probably want to know specific methods or techniques, so here they go:
Improve your effectiveness
The effectiveness of a sales agent is measures by dividing the number of sales the agent accomplishes by the number of attempts he makes to sell a product. There are several ways to increase this value: researching customers to be visited beforehand, personalizing sales actions, finding out the reasons why they contacted the company, etc.
Study your competition
Analyzing the competition and knowing what actions it is carrying out will be useful to analyze whether you should align your efforts with theirs or do something else. To this end, you should first thoroughly study the products and services they are offering to know what makes them different to yours; and also how they offer them, in order to discover whether it comes down to the products or to how they are selling them.
Prepare your sales pitches
Sales pitches are the main tools of salespersons, so they need to be painstakingly crafted. When designing it, you should ask yourself several questions in regard to prospective customers:
- What they need: anticipating their needs will put us in an advantageous position, where we will be able to move directly to offering the products and services they need.
- Why they need it: knowing the reasons that drive them to purchase will let us be more empathetic, identify with them and build a certain rapport.
- What their budget is: it is important to have an idea of the budget there are willing to allocate, so you can tailor your offer to their possibilities.
- When and how they need it: in many cases, both the delivery time and the way in which it is made is important. You need to try to find that out and adapt to the customer’s requirements.
When opening up new markets or gaining new customers is difficult, cross-selling is an option to boost sales. Which is to say, products or services that supplement the original sale. For example, if you sell sports shoes, you can offer specific products to clean them. This may turn out to be easier, since if you offer it to an existing customer, he will always be more open to making the purchase.
Nowadays there are many technological tools focused on sales that may become a clear differentiating factor when closing transactions. A clear example is inaCátalog, a mobile sales CRM that offers a wide range of possibilities when selling. With inaCátalog, a sales agent can personalize his catalogs so that only products that are truly interesting to his prospective customer are shown; or optimize his visits, saving costs and time, since he can take orders on-site.
Having a resource such as inaCátalog may be what you needed in your sales strategy. If you do not believe so, we invite you to contact us and ask for a free demoand see it with your own eyes.