If you’ve followed our last couple of blog posts, you know how much we emphasize creating a strategy! Whether it’s marketing, social media or sales and revenue, having a clear strategy with specific objectives that align with business goals is the best way to achieve desired and successful results.
Before we delve into the intricacies of a sales and revenue strategy, let’s first define the two terms.“Sales”is the total number of units of a product or service you sell, and“revenue”is the total amount of money generated by these sales. In return, a revenue strategy is a plan dedicated to maximizing both short- and long-term sales performance. Developing this type of strategy is imperative for growth in revenue and success in your business.
There are four key components in establishing a successful sales and revenue strategy: strategy, structure, people, and process. These four must be in alignment with one another to yield the desired results.
Strategy
Yes, the first component of the revenue strategy is strategy. What we’re talking about here is a specified sales strategy to effectively help reach your revenue goals.
Some samples of sales strategies include how are you going to market, and will you be penetrating new markets? What market opportunities or weaknesses do you plan to take advantage of? Are there certain competitors you plan to take out, and if so, how? What changes to the industry do you plan to leverage? Relationship selling and cultivating relationships with already loyal customers is another sales strategy beneficial to some businesses.
The critical aspect of creating a sales strategy is making sure it’s specific and measurable, as this drives how you execute the strategy and later determine if the strategy was successful.
Structure
The structure is the framework put in place to hold up the strategy. If a solid structure doesn’t exist, the sales strategy has little to no chance at success. To make sure an adequate structure is in place, review the strategy and note the requirements needed at each step.
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Our Mission atENDREA: To Improve your Business’ Performance and Provide a Successful Business Development Strategy. We strive to help business owners develop a solid foundation and business strategy so they can be successful.ENDREAwill help assess your current goals and business plan and then assist you in taking that next step towards new heights. From planning and implementing marketing & sales strategies to facilitating change in your workforce.ENDREAstands not to be justa leader, but more importantly your partner in working together to achieve a common goal.
