The purpose of this blog series is to provide you with business strategies that can help you revamp your business this year.
- In part one of this series, guest writer Junaid Ali Qureshi talked about the importance of defining your strategic priorities.
- In part two, he talked about defining your target audience and goals by analyzing the qualitative and quantitative aspects of your internal forces and looking to the future with insights from the past.
- In part three, he discussed the importance of defining your marketing and sales action plan and developing your communication with prospects.
- In part four, Junaid explained why CRM databases the development of your business’s best prospects are necessary.
Now it’s time to talk about avoiding the ivory tower effect, which is what will happen if you define a commercial strategy and a commercial action plan alone in your office. This is the final post in this series!
On Excel, it's easy to align the numbers, to make pretty formulas, but if in reality the plan doesn’t play out the way you thought it would based off of figures in Excel, you will have lost valuable time. To define a business strategy and a commercial action plan, you must do the following:
- Meet with your team members.
- Listen to your customers and prospects.
To drive home the importance of following the two steps above, here is an example of a company’s commercial strategy before and after they redesigned it to more realistically lead to success.
Before the company redesigned the commercial strategy, the staff struggled with customers, sales forecasts, and sales. Here’s what the strategy looked like:
- Salespeople who reached out only to the recurring customers instead of prospects.
- Unreliable sales forecasts centralized by a secretary.
- Long delays between service requests and service completions.
- Sales of "easy" products instead of the full range. The sales team should’ve focused on products that offer value to their customers.
With the new commercial strategy below, the company saw measurable and scalable growth:
- Assigned one employee to oversee telemarketing and make appointments for field sales.
- Equipped the sales team with a CRM system which led to a sales team capable of creating reliable sales forecasts and understanding the full lifecycle potential of customers.
- Used a B2B extranet, such as prestashop.com, that employees could use for small orders for supplies.
The commercial strategy should not be improvised. In order to succeed with your commercial action plan and business strategy, never forget the importance of development, preparation, implementation, and follow-through.
Junaid Ali Qureshi is a digital marketing specialist who has helped several businesses gain traffic, outperform competition and generate profitable leads. His current ventures include Magentodevelopers.online, eLabelz, Smart Leads.ae, Progos Tech and eCig.
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