10 Steps to Develop a 2023 Effective Sales Strategy
Marketing and sales are essential to a business plan. Here are 10 steps that will help you create a sales strategy for 2023. As we enter the fall months, it’s time for us to start thinking about next years business plan. Your ability to offer valuable services is dependent on your ability bring in business. Therefore, it’s important to include a section on marketing and sales in your business plan.
The best sales plans start with the end in sight. This means that you should start your sales journey by setting goals and milestones for where you want to be at year’s end. Your marketing and sales activities will help you move from the planning stage to the realization stage.
It makes your plan more concrete and easier to execute. It allows your team to see the bigger picture, share the same goals, and work in the same direction. These are the most common sales plans.
Specific revenue and performance goals in a given period
Strategies and tactics for achieving your goals
Resources and activities needed to execute those strategies and tactics These are the 10 steps you need to follow to create your sales plan.
Set realistic sales goals. Your organization’s financial plan will help you set your sales goals. Although everyone loves ambitious goals, it is important to keep them achievable and realistic. You can keep your sales goals in check by setting incremental sales goals. You might want to break down your sales goals as follows: Type of revenue (e.g. one-time or monthly recurring).
Revenue per month
Develop a sales strategy. Your plan should outline where you want to grow your sales and the strategies and tactics you will use to do it. How many new clients are you looking to acquire? Are you looking to sell more products or services to your existing clients? If so, how can you do it? You might consider converting more clients who are project-based (or “time and material”) to managed services.
Analyze your revenue sources. Are there revenue sources that could send you more business? Most likely, there are. Target customers that you can expand your services or upsell to. This is sometimes called “Who else and what else can you sell?” You should be able to identify clients who are open to working with you, especially if you have done periodic business reviews. You should consider the following to get more business from your existing clients: Have you converted T&M or block hour clients to monthly recurring income?
Are you selling cybersecurity services?
Are there any opportunities for equipment that is not covered by a warranty?
Are there any opportunities for clients to add employees?
Create a pipeline of opportunities that is 3x-5x your revenue goal. Every good salesperson knows that deals don’t always happen on their timeline. They happen on the client’s timeline. Sometimes, good prospects can suddenly go cold without your knowledge. It’s important to have more prospects than you need in order to reach your revenue goals. Don’t count on just one or two big deals. Prospecting is key to long-term growth. You need to have a qualified prospect list and spend time prospecting. Keep your eyes on your ideal client criteria as you build your pipeline. Prioritize the prospects that fit your criteria for a good client and define what a good client is for your business.
Focus on the activities that will drive desired results. Identify the activities that you must do to achieve your sales goals. This could include opportunities to increase sales to existing clients as well as bringing in new clients. These are some questions to consider: How many meetings do you need?
How many business assessments or reviews should I conduct?
How many proposals will I need?
How many opportunities will I need to land?
You must maintain a consistent sales pace. Prospecting should not be something you do randomly. You should consider not only the activities you will do to build your pipeline, but also how often (e.g. daily, weekly, monthly). These activities can then be incorporated into your daily schedule. You must accept the fact that prospecting is an essential activity and not an option.
Manage your time effectively. Effective time management is crucial for prospecting and sales. Your sales and marketing activities should be integrated into your weekly or monthly calendar. You can block out time for different activities on your calendar.