According to Capify’s most recent Business Confidence Survey (Q2 2022), 44% of SME owners were kept awake at night by the prospect of finding new customers. But not all sales strategies are created equally, and getting a sales strategy that doesn’t align to your wider business objectives, can do more harm than good.
Without a reliable sales strategy, a business risks wasting time, energy and resources. If the sales efforts are unstructured and ineffectual, it is likely a business won’t make enough sales to survive and grow. The best sales strategies work in harmony with marketing strategy. Our Business Booster guide maximising your marketing efforts will help better understand how to attract and retain customers.
Top tips for creating a winning sales strategy
1. Cement your market proposition
Understanding where your business fits into the competitive landscape will help you understand how and where to sell it and to whom.
2. Know your buyer
Knowing what your target buyers look like is a central tenet to a successful sales strategy. By knowing their needs, preferences, and pain points, you can tailor your value proposition to match their requirements.
3. Align market proposition and sales strategy
Once you’ve fully agreed and understood your value proposition, it is important to ensure that it aligns with the sales strategy. A premium product or service will have a very different sales approach than one with a lower price point, for example
4. Set Clear Objectives
Having key sales targets is essential starting point for any sales strategy. Whether that be in total revenue or unit sales, a business should have a sales objective – measured against a quarter, six months or year.
Check that your website is loading quickly, that it functions properly on all devices and that your analytics are set-up on each page
5. Understand your channels
A sales channel is the route by which you sell to customers. There are many different channels to consider, and a strong sales strategy will have a multi-channel approach. At its core, is a decision as to whether to sell directly to customers or indirectly.
Sales are a fundamental part of all businesses. But for SMEs, without the luxury of a market-leading brand, getting the sales strategy right is crucial to sales success.
Investing in good customer service, technology and sales team personnel may also be necessary to ensure your customer touch-points are working in harmony with your sales and business strategy.
At Capify we offer a range of business loans to help support small businesses throughout their growth journey. Business loans can be used for any business purpose including investing in sales.
Check to see if you’re eligible for one of our loans with our online eligibility checker.
Or, if you’d prefer to talk to a member of our team, we’d be happy to guide you through the process.
Give us a call today on 0800 151 0980.
