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Thoughtful Thursday – On sales strategies

The Globe and Mail recently ran an article about the importance of have a sales strategy when building a startup. Whether your business is a start up or established, the importance of having and regularly reviewing your sales strategy is important for sustainable growth.

It starts with a sales goal. Once your sales goal is established, develop clear, measurable objectives that when realized will result in achieving that goal. Strategies describe the approach that will be used to achieve the objectives. There may be more than one strategy for each objective. Finally, there will be  specific activities or tactics to implement each objective.

Collectively this is your sales process. It is your way of converting prospects developed from marking activities into customers. The higher the conversion rate the better.

Over a period of time external factors may cause you to review and adjust your sales process. Marketing intelligence may indicate a change in your target market’s buying motives or behaviours that results in a change in tactics. Advances in technology often are the catalyst for reviewing sales strategies. Changes in sales goals can also affect your strategies and tactics.

While the article focuses on startups, thinking about sales strategies applies to all businesses, no matter what stage they are in.

Remember that without sales, there is no business.

Good selling,
Richard

Have a question about sales? Contact Sakanashi and Associates Inc. and I will respond.


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