How To Improve Sales Strategies to Fuel Recovery and Revenue Growth? 

  • 13th Jul'21
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Has this pandemic affected the sales ratio of your product or services?

Is your business having trouble coping up with the new normal in these testing and changing times?

Well, if you are clinging to the same old and routine sales strategies, then you are probably making a big mistake. To keep your business running, you have to find one blind spot and work hard on it, to conquer it completely. The pandemic has completely changed the cliches of the market. The new normal has to be accepted, and with this change, companies also have to make shifts in their sales strategies and even their target audiences. 

 

Five-step sales strategy 

This five-step sales strategy might be the key to enhancing your business in today’s time. Each step will teach you how to overcome challenges like a real sales leader. One key point that you have to remember is that there are plenty of options to retool your sales strategies for your organization to achieve desired goals. These will also give you sales motivation techniques to motivate sales people

 

Step 1 - Analyze your sales forecast 

Before we get into the details of this step, let us first understand what a sales forecast is. 

 

What is a sales forecast? 

A sales forecast is an estimate of sales during a specific period. This estimate depends on the proposed marketing plan for that specific period. The period can vary from a few weeks to a quarter or a half year, depending upon the market conditions. 

 

So, the first step says, you need to access your sales forecast. This is the best way for you to foresee what is coming your way. Interestingly, the best part of this is that if you see some flaws, you have time to correct them. However, sudden dip in the market, natural calamities, and global pandemics are likely to completely affect your marketing plans. But, you need to put a full stop to everything. However, you can rethink your marketing strategies, find an opportunity and nail it. This sales: tips and tricks are one way to increase your sales even when the market remains affected.  

 

 

However, to get this right, we need to have an accurate sales forecast. These tips might help. 

Reevaluate your deals 

During these testing times, even the strongest player in the market has been hit hard. Therefore, to get the right opportunity, you should know the current appetite of your consumers. 

 

Design your forecasts more often 

To step into the market at the right time, you need to design your sales forecast more often. This means revising your marketing plan in days or weeks. The more you analyze, the broader horizons you get to explore in the market.  

 

Track lost opportunities

Knock every possible door. Even the doors that were closed for you earlier. Every opportunity, whether a new one or an old lost one, is a chance for you to get your business on track. So not reconsidering people and opportunities which did not work out earlier is a loss for you now. 

 

Step 2 - Revise your Go to market strategy 

Every product that is launched in the market has its own marketing and launching plans. The product goes through a thorough market study and their marketing strategies are revised with time. However, in these testing times, when the market is highly volatile, consumer behavior changes. 

Revising your go-to-market strategy will open new avenues for your product or service. For example, earlier, your products were available only in particular stories, and their relatively less availability in the market kept them in demand among the consumers. However, during the pandemic, you might have to knock on every household or personally contact your customers to avail your services and use your products. 

This change is necessary to maintain the demand for your product, which has drastically fallen due to worldwide lockdown. This revaluation generates new queries and you maintain your product cycle within your consumers. Revising your go-to-market techniques also helps in managing sales deals smoothly.  

 

Step 3 - Optimize your sales Territories

Every product has its own sales territory that needs to be expanded from time to time. Studies have shown that optimizing your territory design increases your sales by 2-7 percent. When your product demands in a particular region become stagnant, you should realize that it is time for you to change your sales strategy. 

The more you have access to remote areas, the better your sales. You need to focus on two key areas - industry and location. 

Reviewing territories by location 

Location is the key to your sales strategies. If you adjust your territories based on opportunities and demands, your sales will definitely improve. You can thus have a representative here to complete your groundwork and generate demand for your product. 

 

 

Step 4 - Upgrade your Sales Motion 

A sales motion is an end-to-end sales process and method one needs to follow while on the field. Now, your sales representatives know the people they need to target, the area they have to cover. One thing more they need to know is how to generate their sales opportunities. An upgraded sales motion will help them hit the right people and the right area, generating demands for your products. 

 

We at OpenGrowth, are committed to keeping you updated with the best content on the latest trendy topics from any major field. Also, both your feedback and suggestions are valuable to us. So, do share them in the comment section below.

Sources/References:

*Note: The content published above was made in collaboration with our members.

About the author:

Prachi Chouksey (Editor), Super admin

An artist by heart and a writer by profession, Prachi is a vivacious reader.  She believes in hard work and her dedication has never let her down. She puts her heart and soul in everthing she does. Though life has not been a bed of roses for her, she affirms that the best way to live it is to maintain an equillibrium between the tunes of life.  


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2021-07-15 12:17:36


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