Wondering how you can effectively boost your company’s sales? In this blog, we’ll walk you through the steps to put together a solid sales plan that will help you achieve your business goals and boost your business growth.
First, what is a sales plan?
A sales plan is a detailed strategy that defines specific actions and objectives to drive sales for a company.
It focuses on the sales action of the sales network, excluding the marketing plan. By accurately estimating and planning sales, future problems can be avoided and opportunities for the business can be seized.
Steps of the Sales Plan:
What is the main objective of the company? This can range from the number of sales or products, total amount of sales to be achieved or increase of the customer portfolio, among others.
- Customer Categorization or Classification: Identify and classify your customers into different segments according to their buying potential and past buying behavior.
- Sales Forecast: Estimate monthly sales for the next year, based on the previous year and taking into account factors such as market trends, competitor sales and potential industry sales.
- Define Personal Objectives for Each Account: Set specific objectives for each account, making sure they are measurable, quantifiable, specific, time-bound and relevant.
Sales objectives are the desired goals or objectives that serve to guide and motivate all marketing actions and, above all, the sales team. They are also an estimate of how many services and products will be sold using economic assumptions and marketing analysis.
How to develop it?
- Team Collaboration: Conduct brainstorming sessions with your team to identify important ideas and obstacles to your objectives.
- Definition of Resources Needed: Make an inventory of available resources and check if they are sufficient to achieve your objectives.
- Stage Details: Define the stages involved in your objectives, including actions, costs, time and human resources needed.
- Constant Communication: Maintain open and constant communication with your team to ensure that everyone is aligned with the objectives.
- Periodic Evaluation: Conduct periodic evaluations to anticipate problems and adjust the strategy as needed. Use a scorecard to track key sales KPIs and guide sales management.
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These are the metrics you should take into account
- Sales Trend: Analyze the sales trend based on past months and factors such as advertising investments.
Example:
If in the months of January, February and March your company increased 5% in sales each month.
The sales forecast for the month of April will be 5% more in sales.
However, the sales trend may change for the month of April from 5% to 10% increase.
Due to the following factor: Advertising investment
- Market Trend: Use industry statistics and indices to analyze market trends and project your sales.
Example:
If the average annual population growth rate of our target market is 4%, then our annual sales will be 4%.
Therefore, our annual sales will be 4%.
- Potential Sector Sales: Estimate your sales based on the potential sales of the sector or target market.
Example:
If in your research the market benchmark is $100 000.
Our sales forecast will be $10,000
- Competitor Sales: Analyze your competitor’s sales and use them as a benchmark to forecast yours.
Example:
If in the competitor’s analysis the sales result is $6000 per month.
Our sales will be $6000 on average
With this complete guide, you are ready to build a solid and effective sales plan that will drive your company’s growth. Don’t wait any longer to reach your business goals!
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