Your company’s sales plan describes your growth goals, the steps you’ll take to realize these objectives, and the measurement criteria you’ll use to evaluate your business profitability and success.
- Create your company mission and measurable goals: Measurable goals allow you to check your progress, celebrate milestones achieved and monitor the health of your business.
- Know your market: Define your target customer(s) with personas. Map out your service area or sales regions.
- Outline strategy to win new business: You can refine your strategy as new sales trends show promise. Set a strategy so that
- Plan to retain existing customers: Current customers are extremely valuable because you’ve already got their attention–and hopefully you can maintain their loyalty. The cost of acquiring new customers (to replace existing ones) is high. Existing clients will get you to repeat business and referrals. Referrals are powerful because they are already warm leads.
- Set up system infrastructure: To guide clients swiftly toward a sale, and retain loyal clients, you’ll need good tools for monitoring customer interactions. A solid, friendly CRM (customer relationship management) software or online tool will help you stay organized. You can also run reports to analyze your customer demographic, look for emerging markets and much more.
- Define your sales process: Establish the phases of the customer journey to the sale. This way, you can check where your customers are in the sales pipeline and track conversions. If a particular phase of the sales cycle is creating a log-jam, you can look for the root cause and make changes to speed conversion.
- Assign job positions, expectations, and goals: Each team member must clearly understand the focus of their position and your expectations for performance.
In addition, you must also set a budget for your sales plan. Estimating your business expenses allows you to measure ROI and make sure it’s positive. If ROI is disappointing (in a certain area or overall) you can make changes and course corrections for long term success,
Get the funds you need to execute your business growth and sales plans. Contact Rotay Capital Finance today.