Sales strategy is exactly what it sounds like – the plan, target, and methods to effectively move and sell your service or product.
Any notable sales strategy answers three primary questions:
Who are you selling to? What is your target market demographic?
What are you selling them? What value are you bringing to that market?
- How are you making the sale? What medium are you contacting your leads with?
These three questions outline virtually every sales strategy in existence. It’s important to answer these questions (and as much related to them as possible) because it will give you an effective map of where and how to put your resources.
This is especially important as a new or growing company because resources are often scarce and you are bootstrapping the majority of what you do. Having an effective sales strategy allows you to get the maximum amount of traction with little to no wasted resources.
Per the three questions, your sales strategy will consist primarily of three stages with any given sale or product:
- Identifying your Target Market and niche within (Who?)
- Creating something that addresses that market (What?)
- Defining how to approach a targeted consumer (How?)
Once you have these stages and questions answered, selling your product will become much easier as you will be able to focus on a particular market segment.