The strategy focuses on driving business growth by optimizing and expanding sales activities through three main approaches. Firstly, expanding into new markets involves identifying potential regions through market research. This could mean a company entering an Eastern European market after realizing its product demand. It requires localized marketing campaigns and forming partnerships with local distributors to tailor offerings for local preferences.
Secondly, enhancing sales team performance is crucial. This includes setting clear goals and commissions, using CRM for effective lead tracking, and initiating mentorship programs. For example, pairing a sales newbie with a veteran can enhance learning and motivation, boosting overall sales efficiency.
Lastly, leveraging digital sales channels is emphasized. This means optimizing websites for mobile users and employing SEO strategies to enhance online presence. For instance, using social media for lead generation can reach wider demographics, and offering webinars can engage potential customers directly, streamlining the buying process through e-commerce integrations.
The strategies
⛳️ Strategy 1: Expand into new markets
- Conduct market research to identify potential new regions or segments
- Evaluate the competitive landscape in these new markets
- Develop a tailored marketing campaign targeting these regions
- Hire or train sales staff with expertise in new target markets
- Translate and localise sales materials for new regions
- Create partnerships with local distributors or agents
- Attend industry-specific trade shows in target regions
- Analyse local regulations and adjust the business approach accordingly
- Offer introductory promotions to attract initial customers
- Monitor initial sales data and adjust tactics as necessary
⛳️ Strategy 2: Enhance sales team performance
- Set clear performance goals and commission structures
- Conduct regular training sessions on new sales techniques and tools
- Implement a mentorship programme pairing new hires with experienced staff
- Utilise Customer Relationship Management (CRM) software for tracking leads
- Schedule regular reviews of sales performances and provide feedback
- Introduce gamification to motivate sales team through competitions
- Create a customer feedback loop to inform sales strategy
- Ensure collaborative practices between sales and marketing departments
- Facilitate inter-departmental meetings to align on company goals
- Celebrate and reward top performers quarterly to encourage morale
⛳️ Strategy 3: Leverage digital sales channels
- Develop a comprehensive digital sales strategy
- Optimise the company website for conversions and mobile use
- Utilise social media platforms for lead generation campaigns
- Implement email marketing campaigns targeting different customer segments
- Invest in Search Engine Optimisation (SEO) and Pay-Per-Click (PPC) advertising
- Offer webinars or live demos of products/services online
- Integrate e-commerce functionality for direct online sales
- Use data analytics to track online sales performance
- Adjust digital advertising strategies based on customer analytics
- Collaborate with online influencers to reach broader audiences
Bringing accountability to your strategy
It's one thing to have a plan, it's another to stick to it. We hope that the examples above will help you get started with your own strategy, but we also know that it's easy to get lost in the day-to-day effort.
That's why we built Tability: to help you track your progress, keep your team aligned, and make sure you're always moving in the right direction.
Give it a try and see how it can help you bring accountability to your strategy.
