What would you do if you could stumble on a sales strategy that can rock your sales exponentially? I believe you’d waste no time grabbing the opportunity to use the sales plan to crush your revenue. You’ll discover a super easy sales strategy with a few sales metrics to boost your sales with little effort in this master guide. Read on to learn more about how your business can turn things around to maximize profits.
Before we can explore the definition, check out what the following three people have to say about a sales strategy.
“At the recommendation of @BowTiedBull, I started a remote job in SaaS sales back in October. Within three months, I am already a top performer and well on track for moving up.
Aside from @BowTiedSalesGuy, how did I do it? By incorporating sales strategy from best in the game.”
“Another thing @DecentarLabs has done is add a list of celebrities they hope to bring to the project.
This is a very smart sales strategy called “stacking.”
You attract attention, then build value.
Keep adding on top of that, and the audience comes.
Master this strategy!”
Did you notice that each individual or organization has a sales strategy to increase revenue? BowTiedFellow.btc. became a top sales performer due to a proven and tested sales approach. And Titanborn talks of stacking as a sales method for DecentarLabs.
IFundWomen understands sales strategy as providing value to your existing and potential customers.
These three examples show that every business or salesperson should have a specific method to crush sales. What is a sales strategy, then?
Every business must have a clear plan to boost revenue and profits. Your sales approach shows how you can attract, retain, and provide value to your customers.
Some people also talk about a marketing strategy. Is it the same as a sales strategy?
A marketing strategy involves your entire marketing activities about your product/service and helps you stay ahead of your rivals. The marketing mix includes the 7Ps (price, product, promotion, place, physical proof, process, and people).
A sales approach is a specific plan to increase sales by winning, retaining, and building customer relationships.
You may also want to know the meaning of a B2B sales strategy. It’s finding effective ways of increasing sales from business to business.
In this guide, we’ll dig into several sales strategies to rock your sales with less time. But, do you need a sales strategy?
“The sales strategy is a blueprint for success in developing sales,” says HBS. Think of someone who wants to sprint 100 meters. They need two things to achieve their goal; speed and direction.
Similarly, your business needs a sales plan to channel everyone’s efforts towards one goal: hitting the numbers. Every employee will know the company’s direction and how it wants to get there.
Without a sales strategy, your business can’t grow. And HBS says, “not all roads lead to success.”
A sales strategy is necessary to deal with declining revenue. Sluggish sales show that your business needs a reboot.
A sales plan can synchronize your sales teams’ activities to have one objective. Research says, “Companies with aligned sales and marketing teams generated 208% more revenue from marketing,” says Leadg2.
A sales strategy enables the founder(s) or investors to achieve their dreams of financial success.
A sales approach is essential when you introduce new products. Recent stats favor companies that launch products in line with consumers’ needs.
Financeonline says, “56% of consumers prefer to buy from companies that consistently release new products and services based on their needs and new technology.”
A sales strategy is a must to provide products/services that are better than your competitors.
Your company can’t break into new markets without a sales strategy. Whether you want to expand into global markets or change from a solopreneur to a corporation, you need a sales strategy.
A sales plan should be a response to the challenges your business experiences. Continue reading to discover how you can boost your sales.
Simon Severino is the Founder & CEO of Strategy Sprints. He has over 18 years of experience coaching entrepreneurs to crush sales with three simple sales strategies. Simon outlines the principles on “How to Double Your Sales in 90 Days or Less” in the Smallstarter Business Podcast hosted by John-Paul Iwuoha.
A sales strategy is a sprint, not a marathon. It means that you should have small, daily activities, plans, or changes to boost your sales. Strategy Sprints is about performing a few crucial tasks one at a time, systemically.
Doing too many things or chasing countless sales metrics or goals can limit your success. That’s why many companies or sales reps fail to achieve their quota. So, how do you launch sales sprints to double your sales in a short time?
Here’s the thing.
One observation by Strategy Sprints is that many business owners are in the weeds. Too much work but zero sales results. These entrepreneurs work in the business rather than working on the company most of the time.
Are you knee-deep into delivering projects, products, or services? You’re working in the business because your plate is full of too many things. As a result, you lack time to focus on what matters-improving your primary KPIs and systems.
To get out of the weeds, you should list all your daily activities to create a schedule. They may include cold emails, scheduled meetings, spending time with family or friends, going to the gym, etc.
Next, ask yourself this question: of all the things you did today, which tasks can you delegate or give up to free up more time?
If you pack your daily schedule with too many non-essential activities, you won’t have time to hone your sales strategy. Your business is taking too much from you, and you’ve become your bottleneck in sales growth.
Now you are left with the few critical tasks on your daily plan that helps you improve sales, marketing, and operational systems and numbers. Use the form below to diagnose your challenges and build a workflow.
You can use an app to create a daily schedule for your tasks.
Frequency refers to the length of time it takes your potential customers to move from awareness to closing. Every prospect is a potential customer. For example, if you’re at the top of the funnel, aim at raising your leads by 25%. That’s because you need to overfill your sales pipeline with qualified prospects to have enough scheduled meetings or product demos.
Here are practical ways to qualify prospects.
Let’s say you were successful in winning a sale. Use upselling to increase your revenue by encouraging your existing customer to buy other pricey products.
Check out the following upselling tactics.
Offer your customers a discount: Reduced prices can motivate your buyers to upgrade or subscribe to a premium service, purchase more of your products, etc.
Make your offer urgent: It can persuade customers to buy when you create a sense of urgency. For example, you can have a special offer on events, such as Black Friday, Easter, X-mass, and so on.
Offer the right upsell: You can request your buyers to upgrade to the latest version of your product/service. Or ask customers to protect their product by extending a warranty. Another option is letting them customize the offer at a price.
Continue upselling: Your website should have upsells at the right places. Examples include product and checkout pages. Also, consider upselling when your clients achieve a specific milestone.
It would also help to have a systematic and automated system for upselling. A CRM platform can help you with this process.
The conversion rate is a significant metric because it tells you how successfully you convert leads into buyers. Say a specific group of people are ready to buy. How many should you close? According to Strategy Sprints, you should aim to win 25% of the potential customers.
Your company can use the following sales techniques to raise the conversation rate.
Obtain the right leads and not leeches: These are people that your marketing department has identified as the right fit via marketing campaigns, surveys, customer feedback, etc.
Blend your offer with the guaranteed result: People want to see that your product can solve their pain points. Take this example by Strategy Sprints: “Double Your Sales in 90 Days or Less.” It’s the signature coaching program for the business and looks like an irresistible offer. The company also says you can receive your money back if you fail to hit sales during that time.
Use video: Videos are so powerful that they can boost your conversion rate. A well-created video on your landing page or website can help connect with your business.
Strong CTAs: A call to action nudges the prospective customer to perform specific actions. You can place killer CTAs at strategic places in your content. See an example by HubSpot.
How many CTAs did you notice? One is immediately below the headline, another in the center, and yet another asking for your name. As a reader, you can’t help but end up clicking one of the CTAs.
The last sales strategy applies to a SaaS company. For this sales approach, you raise the price with every new user of your product by 5%. You continue increasing the cost until half of your clients say no. You’ve found the maximum price you can charge your buyers when this happens.
You may wonder what the logic behind this sales strategy is. Strategy Sprints explains that you need to lose half of the customers who’re not prepared to buy from you. It’s pointless to obtain high revenue from hundreds of subscribers without making reasonable profits.
Raising the price enables you to remain with the ideal buyer. However, you should have a solid case to support your price increments. That’s because the higher the product/service cost, the more persuasive you should be.
Here are some sales tactics you can use to validate your offer.
Here’s an excellent example of a landing page with testimonials.
You might have realized that Strategy Sprints has convincing testimonials from business CEOs/Founders. The company focuses on the primary decision-makers-the company directors. And when other CEOs see these case studies, they become persuaded to try Strategy Sprints.
In the same way, you can ask for feedback from people who’re happy about your service or product. It instills a sense of trust and credibility about your offer. Because of this, you can price your products confidently to inject substantial cash flow into your business.
A sales strategy is a sales plan to win qualified prospects and retain and develop relationships for more upselling opportunities. We zeroed in on a sales approach to boost revenue by adopting sprints in four elements. The most critical numbers are increasing the frequency of sales by 25%, the conversion rate by 25%, and the price by the same percentage
These key sales metrics can lead to skyrocketing sales if you implement the suggested sales tactics. As a sales manager or company director, you need to spend more time working on the business for the sales strategy to bear results.