The importance of defining a sales strategy in the industrial company
A sales strategy is a structured plan based on an analysis of the situation and short-, medium- and long-term turnover projections. These projections are formulated according to the marketing objectives and market positioning, which have been set by the company for a given period.
BCM Marketing, as a marketing agency specialised in offering commercial strategy support to companies operating in the industrial sector, we are aware that the first step in designing a commercial strategy is to find out where the potential customers or target audience are. Once the company's target has been located, the most appropriate promotion and sales channels must be chosen, as well as the advertising format and content for social channels and the website itself.
Why define a sales strategy
The marketing and sales professionals in our team believe that sales strategy has become of fundamental importance today and make it clear that for companies, selling has always been the key element for survival in a constantly evolving industrial market. Today, however, achieving this requires a commercial strategy to find consumers and speak directly to them.
A commercial or sales strategy consists of analysing the products on offer and how their properties match the needs of consumers. It also involves identifying the profile of those consumers in order to determine the tone, the communication channels to use, and then establishing a conversation with them. Likewise, knowing the potential customer will also serve to plan offers to meet needs and design loyalty campaigns.
Step by step: How to create a sales strategy
A sales strategy is not only the resolution of objectives. Behind the strategies to sell more are other factors that make the strategy complete and without any loose ends.
1. Diagnosis of the company's status
What were the latest earnings in the previous period? Have there been any recent changes that have affected the company? How much have you invested in the previous sales strategy?
The starting point to investigate is the current situation of the company. Remember to take note of all changes that are made, however small, both negative and positive. This will help for the future.
2. Define the customer profile or buyer persona
An important factor in any strategy is the customer. Defining our ideal customer or buyer persona means that every move we make is to attract them and convert them.
The basis of the construction of this consumer model is the analysis of relevant information about potential customers. As well as the needs and profile at which it was initially aimed.
Important characteristics to take into account when defining a buyer persona:
- Demographic segmentation
- Psychological characteristics
- Social characteristics
- Job functions and role
3. SMART objectives
Formulating SMART (Specific, Measurable, Achievable, Relevant and Time-bound) objectives is key to keeping an objective tidy. It also allows you to detail each objective or goal in a way that is clear to the entire sales team.
4. Identify your competitive advantages
What is your competitive advantage and what do you stand out for? This is a factor that is having a lot of weight lately, given that customers are looking for different companies, with innovative and well-differentiated ideas. If you want to sell more, you have to offer the market something different.
What are the resources needed to carry out your sales strategy? In order to sell products or services you first have to invest, both in materials and in marketing campaigns that are part of your sales process. Keep in mind that the budget has to be realistic and effective, always looking at the fulfilment of the objectives with an eye to detail.
6. Evaluate and reform
In strategies, no matter how hard you try, there are always loose ends, so you need to have a safety plan in place. Knowing how to act quickly at times can save you, and if you have an alternative plan, you will always be on the safe side.
Remember that during the execution period of your sales strategy you have time to make changes. Evaluate the moves that are made and reform those small mistakes that can be improved. Take note of everything that is done, it will help you for future strategies.
Importance of sales strategy
A sales strategy is important because it defines the roadmap for sales teams and their commercial strategy. This is what guarantees companies the necessary turnover to stay in the market with healthy growth and optimal financial results.
For BCM Marketing, as experts in the industrial market, one of the most important elements that defines a sales strategy is the value of the product. The diagnosis necessary to design the strategy has to identify what is the element that would make the public choose one brand over another. This knowledge will allow the company to know how to approach the market and with what values to compete against rival companies.
Another factor that makes a sales strategy relevant is that it organises the functions of the work team or sales force. Through them, roles and tasks are assigned and focused on the same objective. It also unifies the work criteria and the discourse of the sales force according to the product. All this makes the work much more productive.
Sales strategies by BCM Marketing
The BCM Marketing team has focused its talents on helping companies in the industrial sector. We have extensive experience designing sales strategies for multinational companies with an industrial profile that have contracted our professional consultancy and sales network support services. Would you like to find out more? Write to us!