The 3 challenges of sales strategies to advance your competition
Start writing a post
Community

The 3 challenges of sales strategies to advance your competition

The 3 challenges of sales strategies to advance your competition

107
The 3 challenges of sales strategies to advance your competition

"To discover people's true thoughts, please pay attention to what they do, not what they say." When we talk about sales strategy, the phrase René Descartes said comes to mind, because to know how to sell, you must Understand their own competition, and to make their competition develop, they must analyze "they have done more than they said." Let's start by building the foundation.

There is no doubt that sales strategies are the basic pillars of any company's success because they can determine the company's growth and performance. In addition, combined with The Marketing Heaven strategy, under the joint action of the two departments, the so-called "marketing", the team coordinated to achieve sales qualified leads (SQL), and eventually converted it into customers.

However, before deciding which strategy your company will use for sales, it is recommended to conduct a detailed analysis of many factors including market, competition, product, price or methodology. Sales. In fact, below we analyze the main challenges of the sales strategy that must be evaluated before tracking the technology that will be put into operation.

Challenge 1: Product/Market Strategy

Before formulating any sales strategy, studying the market conditions and trends of the company is an essential step, because even if your company has sufficient funds, superb internal organization or good positioning, you can choose to grow if there is no demand. not possible.

In this sense, to implement any sales strategy, the market can be viewed in two different ways or situations. On the one hand is the existing market, on the other hand, is the new market. In addition, strategies must be formulated from two perspectives: from existing products or from new products. Based on these considerations, we will detail four possible combinations below.

Current products on the market

Here, we must strive to achieve higher productivity and make certain investments that will increase sales due to economies of scale and increased production, and reduce costs in return. We know the product, we know the market; as we have already mentioned, the challenge is to achieve the goal and maximize productivity.

Existing products in new markets

In this regard, our advantage is that the product already exists, but it must be moved and displayed in a brand new and unknown market. In this market, you may find a niche market that wants to achieve the expected growth, although you will have to continue to work hard to showcase and promote your products or services and position the company in the minds of the final consumer. Similarly, it is also important to activate technology to attract potential customers to narrow down the areas that are new to you.

New products in the current market

Is your company ready to display new products in the existing market? If the answer is yes, then you will have to use your innovation ability. You understand the market, which means you will have access to customer information (flavors, needs, desires), your strategy should focus on innovating your products/services, and have sufficient resources to formulate and plan such actions. Using customer knowledge, it is important that you must communicate their needs at the exact time they need, which is what can be achieved through a sales support strategy.

New products in new markets

The final combination may be the most difficult to achieve a product/market growth strategy. The complexity of entering a completely unknown market, we must increase the motivation and sacrifice involved in the implementation of new products. This process takes time. In addition, this combination also has obvious disadvantages: we do not know customers. We don't know who they are, how they react, what their tastes or shopping habits are. When using them, remember these variables.

The second challenge: pricing strategy

In the second round, you must discuss the pricing strategy. In this sense, the company may consider implementing a sales strategy based on the following prices:

Differentiation strategy

Prices vary according to customer needs. In the first type, the company focuses its strategy on consumers and provides personalized services at previous segment prices.

For example, the automotive company Mercedes has always been a brand for adults with higher purchasing power. Through this announcement, they made it clear that in addition to the general public, young people can also access it. This is a differentiated strategy.

The same strategy

It meets the needs of the product. Companies that choose to use this strategy for pricing will focus on the product instead of paying attention to customers. One of the most obvious examples is Apple. Cupertino (Cupertino) is committed to more and more innovation in all products, that is to say, it focuses its strategy and efforts on innovation, without accurately segmenting its consumers.

The third challenge: target account sales (TAS), a VIP method

In any sales strategy, it is possible to apply the TAS method or direct sales to customers. This method focuses its strategy on sales management, that is, focusing its efforts on business opportunities owned by the company.

In addition, you must integrate the company's sales team into a system to manage the right customers. In addition to the following aspects, the method also has a series of procedures and tools that can help the sales team better understand the customer's buying process:

  • •Increase in the proportion of opportunities.
  • •Focus on favorable business opportunities.
  • •Improve sales margins.
  • •The strength of the sales team.
  • •Take appropriate measures to increase the company's gross profit margin.
  • •Shorten the sales cycle.

Gift challenge: the advent of technology

Technology will continue to exist, and its development is proving this. The companies that choose digital transformation are those that can best adapt to the difficulties and have a better future. Of course, this change will also affect the sales team, because technology can automate and improve their processes, thereby increasing their efficiency. Therefore, artificial intelligence has also made progress in saving time and optimizing sales processes.

In fact, according to Salesforce, more than 70% of sales professionals believe that using sales analytics has greatly improved their ability to provide a consistent customer experience across multiple channels. Therefore, according to the American company, using the metrics provided by the technology helps to form a deeper vision, which allows the seller to provide a better experience for its customers. In the next three years, as the sales team has realized the demand for technology, the technology adoption rate will increase by 139%.

We know that you face many challenges. It is not easy to formulate a sales strategy to stand out from the competition. Therefore, you should trust digital marketing consultants (such as We Are Marketing) to implement your growth strategy. But the challenge is to overcome the challenge: understand your market, study the competition, analyze the possibilities of the product, determine the right price, bet on the technology, and most importantly, trust yourself and your project.

Report this Content
This article has not been reviewed by Odyssey HQ and solely reflects the ideas and opinions of the creator.
Health and Wellness

Exposing Kids To Nature Is The Best Way To Get Their Creative Juices Flowing

Constantly introducing young children to the magical works of nature will further increase the willingness to engage in playful activities as well as broaden their interactions with their peers

1293587

Whenever you are feeling low and anxious, just simply GO OUTSIDE and embrace nature! According to a new research study published in Frontiers in Psychology, being connected to nature and physically touching animals and flowers enable children to be happier and altruistic in nature. Not only does nature exert a bountiful force on adults, but it also serves as a therapeutic antidote to children, especially during their developmental years.

Keep Reading... Show less
Health and Wellness

5 Simple Ways To Give Yourself Grace, Especially When Life Gets Hard

Grace begins with a simple awareness of who we are and who we are becoming.

808964
Photo by Brooke Cagle on Unsplash

If there's one thing I'm absolutely terrible at, it's giving myself grace. I'm easily my own worst critic in almost everything that I do. I'm a raging perfectionist, and I have unrealistic expectations for myself at times. I can remember simple errors I made years ago, and I still hold on to them. The biggest thing I'm trying to work on is giving myself grace. I've realized that when I don't give myself grace, I miss out on being human. Even more so, I've realized that in order to give grace to others, I need to learn how to give grace to myself, too. So often, we let perfection dominate our lives without even realizing it. I've decided to change that in my own life, and I hope you'll consider doing that, too. Grace begins with a simple awareness of who we are and who we're becoming. As you read through these five affirmations and ways to give yourself grace, I hope you'll take them in. Read them. Write them down. Think about them. Most of all, I hope you'll use them to encourage yourself and realize that you are never alone and you always have the power to change your story.

Keep Reading... Show less
Entertainment

Breaking Down The Beginning, Middle, And End of Netflix's Newest 'To All The Boys' Movie

Noah Centineo and Lana Condor are back with the third and final installment of the "To All The Boys I've Loved Before" series

794283
Netflix

Were all teenagers and twenty-somethings bingeing the latest "To All The Boys: Always and Forever" last night with all of their friends on their basement TV? Nope? Just me? Oh, how I doubt that.

I have been excited for this movie ever since I saw the NYC skyline in the trailer that was released earlier this year. I'm a sucker for any movie or TV show that takes place in the Big Apple.

Keep Reading... Show less
Lifestyle

4 Ways To Own Your Story, Because Every Bit Of It Is Worth Celebrating

I hope that you don't let your current chapter stop you from pursuing the rest of your story.

513381
Photo by Manny Moreno on Unsplash

Every single one of us has a story.

I don't say that to be cliché. I don't say that to give you a false sense of encouragement. I say that to be honest. I say that to be real.

Keep Reading... Show less
Politics and Activism

How Young Feminists Can Understand And Subvert The Internalized Male Gaze

Women's self-commodification, applied through oppression and permission, is an elusive yet sexist characteristic of a laissez-faire society, where women solely exist to be consumed. (P.S. justice for Megan Fox)

320252
Paramount Pictures

Within various theories of social science and visual media, academics present the male gaze as a nebulous idea during their headache-inducing meta-discussions. However, the internalized male gaze is a reality, which is present to most people who identify as women. As we mature, we experience realizations of the perpetual male gaze.

Keep Reading... Show less
Lifestyle

It's Important To Remind Yourself To Be Open-Minded And Embrace All Life Has To Offer

Why should you be open-minded when it is so easy to be close-minded?

453889

Open-mindedness. It is something we all need a reminder of some days. Whether it's in regards to politics, religion, everyday life, or rarities in life, it is crucial to be open-minded. I want to encourage everyone to look at something with an unbiased and unfazed point of view. I oftentimes struggle with this myself.

Keep Reading... Show less
Swoon

14 Last Minute Valentine's Day Gifts Your S.O. Will Love

If they love you, they're not going to care if you didn't get them some expensive diamond necklace or Rolex watch; they just want you.

307595

Let me preface this by saying I am not a bad girlfriend.

I am simply a forgetful one.

Keep Reading... Show less
Student Life

10 Helpful Tips For College Students Taking Online Courses This Semester

Here are several ways to easily pass an online course.

207120
Photo by Vlada Karpovich on Pexels

With spring semester starting, many college students are looking to take courses for the semester. With the pandemic still ongoing, many students are likely looking for the option to take online courses.

Online courses at one time may have seemed like a last minute option for many students, but with the pandemic, they have become more necessary. Online courses can be very different from taking an on-campus course. You may be wondering what the best way to successfully complete an online course is. So, here are 10 helpful tips for any student who is planning on taking online courses this semester!

Keep Reading... Show less
Facebook Comments