A sales strategy is a plan for bringing sales into a business and keeping those sales consistent to build the business. It is usually partnered with a marketing strategy, used to build awareness of a company and generate customer relationships with the goal of turning those relationships into sales with the sales strategy. Businesses of all sizes can benefit from developing a policy for handling sales and increasing frequency of sales and business consultants are available to assist people with sales development.
In a sales strategy, people at a business think about how to generate sales and close deals, while also working on customer retention to get people using the company in the future and thinking of the company when they have new needs. The goal is to turn marketing leads and general customer interest into actual sales, while working with the marketing side of the sales team to develop and maintain a specific image and build the company's branding.
Sales strategies vary from company to company. They can include tactics like following up on leads with personal contacts, authorizing company representatives to make concessions to bring deals to a close, and using promotional tools to increase sales. The marketing team may suggest discounts and other features to bring people into a store, for example, while the sales team works on a store layout that encourages people to buy once they walk in the door.
When designing a sales strategy, companies must think about how it will be implemented and develop a plan that people who work for the company will be able to follow and enact in real life. Suggesting, for example, that companies follow up on leads with personal phone calls only works if there is a sales team big enough to handle this task. An ambitious sales strategy can look excellent on paper and during the planning phases, but if it is not feasible, a company will not be able to address stagnant or unsatisfactory sales numbers.
Numerous books on sales strategy are available, discussing different approaches and providing things like sample plans, templates for personal contacts with leads, and other materials. These can be useful tools for people during the research phase of developing a strategy. Hiring a sales consultant can also be beneficial, particularly for larger companies where investing in consulting services is more likely to pay off. People who own franchises or dealerships can sometimes ask the parent company for assistance with developing marketing and sales plans.
Ever since she began contributing to the site several years ago, Mary has embraced the exciting challenge of being a SmartCapitalMind researcher and writer. Mary has a liberal arts degree from Goddard College and spends her free time reading, cooking, and exploring the great outdoors.