Purchasing Resources for Sales Marketing

Developing a Sales Strategy

How to keep your sales efforts on track with a solid plan for success
By Maggie Rauch Saying that you want to reach $1 million, $10 million or any other number in annual sales is one thing; figuring out how you're really going to do it is another. Setting lofty sales goals is useless unless you develop a strategy to reach those objectives. Implementing a strong sales strategy can maximize your sales efforts and improve your bottom line. When developing your sales strategy, consider these elements:

1. Sales goals.
2. Staffing requirements.
3. Training and management of staff.
4. Reporting processes and metrics to measure performance.
5. Sales techniques.
6. Your target market.
7. Your competitive advantage.
8. Costs.

Identify your goals

Forecasting sales is more of an educated guess than a mathematical formula. Start by estimating monthly sales for one year and then annual sales for three years. If you've been in business for some time, make projections based on past sales history. If you're a startup, estimate by looking at the sales of other products or companies like yours.
Try:  Discover the ins and outs of sales forecasting with ForecastPro seminars and software.

Consider your sales team

If you have a sales staff, it will play a huge role in your sales success. Hiring the right people is critical. But you must also supply them with the training and sales materials necessary for success and you must provide ongoing management.
Try:  Get tips on hiring the right people from HowStuffWorks.com. Find hiring tools and services from human resource management firm Profiles International. Keep your team on their toes with sales training courses from Dale Carnegie Training.

Develop sales techniques

Decide which techniques and strategies you and your sales team will use to reach your target market, such as telemarketing, email marketing or exhibiting at trade shows.
Try:  Find small business sales techniques at PowerHomeBiz.com.

Create reporting processes and measure success

To keep track of your sales team's efforts, develop a reporting system. Decide how you will measure your sales team's performance and communicate your plan with your salespeople so they know what's expected of them.
Try:  Download reporting templates at MyWorkTools.com. SalesForce and NetSuite are sales force automation solutions that include reporting features so you can track the progress and activities of your team. BusinessObjects Sales Analytics lets you monitor sales metrics.

Set a sales budget

Your sales budget should include costs for sales force training, compensation, entertainment, travel and administration.
Try:  Get tips on developing budgets from Bplans.com.

Put your plan in writing

Detail your sales strategy in a comprehensive sales plan. Similar to a business plan, a sales plan should be your roadmap to help you arrive at your sales goals.
Try:  Plan Write for Sales software leads you through the sales plan process. See a demo about how to make a sales plan presentation using PowerPoint.

• Review your sales strategy often and make adjustments as necessary.
• Don't forget to include incentives and performance bonuses in your sales budget.
• Solicit feedback on your sales strategy from your sales reps. Since they're on the front lines, they may have innovative ideas to increase sales or to streamline the process.

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