Because of the very tight and competitive world we have today, small and big business are struggling their very best to win the hearts of their customers. A great business owner knows that the key to rise above the competition is by a sales strategy.
Sales Strategy
What is a sales strategy? It is a strategy wherein you create an approach that will make customer buy and you generate sales in return, and create a competitive advantage. Having a long time sales strategy, together with a short term sales strategy is essential for your business to be sustainable.
Two Types of Sales Strategy
There are two types of sales strategy- the direct and indirect. And each business applies on of the two.
Direct Sales Strategy – In this strategy, the sales person talks about their competition before their own products. They attack the flaws of their competitors’ product and compare it to their own. A good example of a product that uses direct sales strategy is a detergent soap. Brand Y points out how Brand X cannot remove the stain on a shirt in a period of time, and then illustrates how its product, Brand Y, can remove the stain easily with just small amount of detergent applied.
Indirect Sales Strategy – This sales strategy is the reciprocal of the earlier strategy. The business talks about the benefits and features of their products, which are not available in their competitors.
Building a New Sales Strategy
When building a sales strategy, find out what helped your business and what does not. Follow the 80/20 rule and find the top 20% of your customers bringing in 80% of the revenue. Analyze the products they bought, how these customers are generated and collect feedback from them. Once you have these information, you can build a new sales strategy specific to these customer group.
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