In Archiz Solutions, a sales strategy is a solid and well thought-out process that enables a company to consistently sell products and services. The most effective strategies help the sales representatives to complete or cross the quota by providing a clear and functional step-by-step plan, thereby generating leads to stop every aspect of the sales process, leading to lead. According to the recent sales pipeline management, companies with a formal sales process enjoy 28% more revenue growth than those who are not.
Without a sales strategy, you are giving your team a license to just wing it. Although this Rockstar can work for a sales representative, you can not expect that your remaining team will continuously achieve their goals. In this article, we offer eight effective tips to help you create successful sales strategies.
- Prepare templates and scripts
- Generate leads that match your buyer personality
- Come up with an effective lead scoring strategy
- Make a sales rhythm
- Set parameters to promotional offers
- Give performance tracking and optimization priority
- Keep your customer personality up to date
- Use Customer Relationship Management Software
Prepare templates and scripts
The best team does not rely on anything talented to carry the lion’s portion of the sales load. In contrast, you want to pull your weight off all your sales reps. One of the best ways of doing this is to provide relevant material that sales reps can use to close deals faster. Prepare relevant templates and scripts in hand such as:
- Cold calling script
- Discovery Call Script
- elevator pitch
- Competitive war card
- Cold Email Templates
- Presentation deck
- objection handicrafts templates
The sales representative prepares all these materials with the resources to easily close the deals. At the top of it, it also ensures that the new sales representative has the necessary material to run the ground.
Related Blog: The five reasons for your CRM are not actually increasing sales
Generate leads that match your buyer personality
Creating a customer persona is important for the survival and development of your business. In fact, statistics show that those businesses who are successful in crossing the lead and revenue goals, formally document documents in contrast to documents that perform less in these areas. Underlines the importance of understanding who your buyers are before launching any sales campaign.
To help you document your customer personality formally, you can consider these factors:
- Location – Where Do Your Buyers Live?
- Industry – In what industry do your customers work?
- Job title – What are your buyers’ job titles?
- Company size – If you are selling businesses, how many employees do they have?
- Company Revenue – What is the annual revenue limit for your customers?
- Need or Motivation – Why would customers buy your solution?
- Objections – What are the potential concerns about your customer about this product?
By answering these questions, you can come up with a structured profile that helps your sales development representative to understand whose goal is to target. At this point, you are ready to begin the lead generation effort. There are two ways to do this.
Inbound sale
Inbound sales are a leading generation strategy where you attract or attract your customers. They come to you instead of your own. Popular inbound sales techniques include:
- Search engine optimized websites
- content marketing
- Podcasting
- Organic Social Media Marketing
- Email campaign
- Publishing free whitepaper
Webinar
With the help of a buyer persona, you can create high-quality content that is tailored to your customers’ needs. This can help you keep effective inbound sales campaigns together.
Outbound sale
On the other hand, outbound sales include sending your message to your audience. With this strategy, you are extracting words on the road and are looking forward to receiving feedback. Outbound sales methods include:
- TV and radio ads
- Direct delivery
- Buying a Lead List
- Outsourcing
- cold calling
In order to be an effective outbound sales strategy, you must first set up your audience. This is where your buyer personality comes. With a documentary personality, you can send a message that calls your ideal customers and gets them to answer.
Come up with an effective lead scoring strategy
The lead scoring ranking process is in accordance with some criteria, such as demographic information and lead engagement. Ranking helps you determine which leads to buying from your business.
According to the Marketing Effectiveness Study, 68% of marketing professionals consider lead scoring as the top revenue contributor. The ability to identify the possibilities that are likely to buy your solution saves you time and energy. Otherwise, your sales representative will follow those leads that are neither interested nor ready to buy yet.
While Lead Scoring seems easy to implement, it really takes careful planning and thoughtful execution. To help you score leads, you can consider these two lead scoring techniques.
Quality of fit
The quality of the fit helps you determine whether a lead corresponds with your customer profile. For example, a commercial real estate company that leases head office locations can see the size of the business, industry and annual revenue. According to these characteristics, the real estate company can see if the lead is a good fit or not.
Interest Level
Level of interest involves viewing the level of engagement of Lead with your company. For example, the same real estate company email opens, visits website visits, and answers to the call to determine whether a lead is interested or not.
When you determine factors to help guide you, the next step is to give points for each factor. For example, if Lead has at least 50 employees, there are 5 points, then they are in the technical industry and 15 points if the income is more than $ 1 million to determine the quality of fitness. On the other hand, you can add 15 calls for each email, 10 points for visits to the site and 15 calls to measure the level of interest.
The point system helps you rank leads. The rank highly ranked, they are ready to buy from your business. Therefore, high scores, high priority.
Make a sales rhythm
Before deciding to buy from you, prospects will have to listen on average seven times. This shows how the difference between a win and a lost deal could be the follow-up. Unfortunately, the reality is that almost half of the sales representatives are never follow up with their leads.
If you want your business to produce consistent results, then your sales strategy should include a certain follow-up process, in other words, the sales rhythm. You have to set the number of lead-up call or email once. At the top of this, you have to create a unique script or message for each follow-up. Here is a quick example of a sales cadence template.
Business Day 10: Follow email – follow-up permission (half-break-up email). Call in the afternoon; If there is no response then leave the voicemail.
Business Day 12: Call Morning; If there is no response then leave the voicemail. Follow LinkedIn in the afternoon.
Business Day 15: Follow Email – Thread a new email giving a link to a useful email
Business Day 20: Follow Email – Break Up Email
Set parameters to promotional offers
Offers such as discounts, free trials, and add-ons reduce your customer’s resistance and seek to entice you to buy your product or service. While promotional offers can be an effective selling technique, you need to set up the parameter to make sure that your sales representatives are not offering too much for almost everyone.
Set the parameters of your promo:
- Specify which part or step in the sales process to discuss or mention the proposal. For example, you can expand a free trial offer with a customer after an exploration meeting.
- Identifying customers who qualify for promotional offers. In most cases, these are customers who are ready to buy your product or service but they are raising concerns or considering your competition. To help them win, your sales representative can expand the proposal, such as a 20 percent discount on the customer’s first purchase.
With an established set of rules, your sales representative will not have to trust the offer of abusive promo to stop the sale.
Give performance tracking and optimization priority
Do not expect your sales plan to give you stellar statistics in your initial campaigns. It is likely that you will have to make several adjustments before producing results continuously.
That’s why it is important to monitor every detail of your sales strategy. Performance-tracking tools help you understand which tech, campaign, and messaging payments.
This is where the Knowledge performance indicators (KPIs) come. A KPI measures your progress towards the desired result. Here are the common KPIs measured by sales teams:
- Phone Activity – It measures or controls the number of calls made by the Sales Representative within a given time period. This can be useful for businesses who rely on cold calling and follow-up to sell.
- Open and click Rate – this is the percentage of the total number of recipients who opened and clicked on the email. This KPI is monitored when a company starts an email campaign, and to understand which campaigns work and what does not.
- Sales cycle – It takes a sales representative to make a deal to be closed from creation. Highly-executed sales reps have small sales cycles.
- Lead conversion rate – This is the percentage of leads that became buyers. This metric helps you assess the performance of your lead generation activities.
- Wins deals and lost – this is the number of opportunities shared by all open opportunities. This metric helps you to see which of your sales representatives need coaching.
MUST READ: How to optimize the sales process using Sales CRM Automation
Keep your customer personality up to date
Another reason why you need to monitor your sales performance is that you will eventually have to come up with data have driven customer personality. While the customer personality created with the help of this article can work, in the end, it needs to be updated. This is because it is very likely that the customers who are actually purchasing your product, have some differences with their initial buyer personality.
- The easiest way to update your customer personality is to compare it with your real customers and vice versa. To do this, you can follow these steps:
- Collect all relevant information about your current customers, including demographics and firmographic descriptions.
- Find customer feedback. Ask why they chose their product or service against your competitors. It can be done via email or phone.
- Review all the details and see the important difference between your current buyer’s personality and your roster of real customers. For example, your initial customer personality targets companies with 1-10 employees but your real buyers have at least 50 employees.
- Launch an experimental campaign to verify the validity of your updated personality.
Important Blog: That is why your sales team not performing very well.
Keep in mind, you are selling a kind of solution, which can not offer your competitors. Customers who are buying from you are not buying from your competition because your product or service addresses their unique needs.
Therefore, it is important that you know everything about your real customers, including their pain points and disappointments. This enables you to laser-target your lead generation efforts and refine your sales process based on your updated and data-driven customer profile.
Use Customer Relationship Management Software
There are many things involved in making a sales strategy, but there are tools that can help in streamlining the process. Enter Sales CRM. With the help of a CRM application, you can automate and facilitate many tasks including the following:
- Lead scoring: The Best CRM Software in the market can automatically score the lead based on the level of engagement and the quality of the fit. They have built-in fields that help you in determining lead quality such as job titles, number of employees, company revenue and many other things.
- Follow-up processing: CRM provides 360-degree views of each lead profile. This enables your sales representative to see the progress of leads with follow-up funnels. Quick access to these details helps your team use the right script or email message based on your follow-up process.
- Performance Tracking: Best Sales CRM Software helps you generate sales reports to track email open rates, lead generation by source, call activity rate, lead conversion, and many other important performance indicators so that you can focus more on work Customize sales strategy.
Creating a successful sales strategy can be challenging, but these eight tips should help you walk on the ground.
If I forget to anything else please comment right below.
The first step in building your marketing strategy is to know who it is you’re marketing to. Doing so ensures that your marketing efforts are focused, and as a result, you’ll be getting the return on investment that you’re after.One common way to go about this is to create a buyer persona. By creating a buyer persona, you can be sure that you’re marketing to people who are actually interested in what you have to offer. Otherwise your marketing strategy is pretty much the equivalent of a man on a box yelling through a megaphone at random people on the street.
1.Research Your Competitors
2.Choose Your Channels
There is a wide variety of ways to get your marketing message in front of your prospects, more than ever, in fact. You can go the traditional advertising route and stick ads in newspapers and on billboards, or you can try more modern and ever-evolving tactics like SEO and content marketing
3.Break Down Your Sales Funnel
4.Create SMART marketing goals
Ready To Build and Execute Your Marketing Strategy?
There you have it, your whole process to building your own killer marketing strategy.
This is a great article and you are bang on with your points about 8 effective tips to help you build a successful sales strategy. Be clear about what you really need and want to accomplish at this point- you are right to this point.