Build a successful sales strategy

Build a Successful Sales
Presented by
Jurek Sikorski
Entrepreneur in Residence, LBS
Formerly Marketing & Sales
Thursday, 30 January 2014
Coming up...
What is (and why have) a sales strategy?
Key elements of a sales strategy
The Selling Process
‘Sales Value Proposition’
How to build a successful sales strategy
Ask the Panel
Build a Successful Sales Strategy
What is a sales strategy?...
A plan to achieve the sales goal of a
Describes how a business will win, retain
and develop customers...
A blueprint for success
Build a successful sales strategy
What does a sales strategy do?…
‘Defines the selling activities and
allocates resources to deliver the
sales goal of the business…’
Build a successful sales strategy
Why have a sales strategy?
‘Without a sales strategy the
company’s customer facing people will
struggle to obtain the focus needed for
successful selling’...
‘A sales strategy aligns the company’s
sales goal with the approach to
achieve that goal’
‘every organisation needs a sales strategy’
Build a successful sales strategy
Key elements of a sales strategy?…
1. Goal and Objectives
• What is the goal of your business? e.g. ‘We want to become the UK’s leading
supplier of solar powered generators by sales within 3 years’
• What are the objectives that when achieved will deliver the goal?
2. Target Market (Customer)
• Who is your target customer group? What /how/why… do they buy?
• Who is the person you are selling to? What are their needs
3. Products/Services
• What are you selling to the target market? Why would the customer buy?
• What is your sales value proposition?
4. Competitive Advantages
• Who are your competitors? What are their strengths/weaknesses?...
• What are your competitive advantages ? How are you better, cheaper, faster?
Build a successful sales strategy
Key elements of a sales strategy?…
5. Route to market
• How will you reach the customer? e.g. direct, channel partners, internet
• What direct route will you adopt? e.g. sales team, telesales, trade shows
6. Selling Process
• What are your selling activities? e.g. prospecting, approaching and presenting
• How will you maximise success during the ‘critical hour’ in front of customer?
7. Resources, Skills and Capabilities
• What resources (e.g. sales time, money), skills and capabilities (e.g. sales
planning, key account management ) are required to sell
• How will you develop and improve skills e.g. selling skills training…
8. Sales Management
• How is the sales target set, sales performance reviewed, coaching provided?
• What performance incentives are provided? e.g. bonus scheme
Build a successful sales strategy
A sales strategy addresses
common business challenges?
Stagnant or declining sales revenues
Merger of sales forces after an acquisition
New product introductions
Launch of a new competitor
Expansion to new markets
Build a successful sales strategy
Selling is a key activity of
your business model...
Off grid solar/hybrid power generation industry
Key Partners
Key Activities
Value Proposition
Customer Relationships
Designing, manufacturing
and supplying generators
Range of peak power
New customers
Plant and hire firms
Marketing and selling
Reliable power delivery
Battery and power inverter
Recruitment and training
of resellers
Silent operation
International resellers
Electronic circuits suppliers
Key Resources
Working capital
Facility landlord
Technical/commercial staff
– develop and market
Knowledge and expertise
Cost Structure
Zero/reduced CO2
Sales team
Range of purchase options
DFID, Aid Agencies
Customer Segments
Construction and Plant
Hire firms – need to
service client projects
Event and Broadcast
organisers – need a
source of reliable power
that is non polluting at an
affordable cost
International Aid agencies
– Need robust power
generation solutions at a
low cost
Revenue Streams
Cost of sales (<50%)
Facility (£xk pa)
Price set at £x FOB
Salaries (£zk pa)
Marketing (£yk pa)
Revenue £1.8m rising to
over £25m by year 5
Business Model Generation: Alexander Osterwalder & YvesPigneur
Gross Margin: min. 50%
What is selling about?…
Selling is helping the customer to buy
Helping the customer to make up his mind
upon the satisfaction of his/her
Selling is about going for a ‘win-win’ for you
and the customer
Selling is not so much about shifting
product as making... customers
Successful selling is about
asking questions and listening to
the answers…
Customer orientation is a vital
concept in selling…
Focus on the customer NOT the company!...
Know that customers buy to satisfy needs...
Recognise needs are fulfilled by benefits
derived from features...
Deliver desired outcomes
How customer orientation works!
An equipment rental and support services supplier
A UK based manufacturer of solar powered generators
Reliable off grid power
generation that helps its
customers manage/
eliminate their challenges
and deliver their projects
on time and within budget
and… that yields a strong
return on investment
Provides reliable, silent and
emission free power
generation solutions that
eliminate challenges faced
by users helping them
reduce costs and for Speedy
Hire improve profits
Firefly designs and
manufactures off-grid,
portable and permanent
solar-powered generators
for a wide range of
applications from festivals
to construction site offices
Customer orientation drives sales
Understand the ‘selling process’
A communication and learning experience
Salesperson learns the needs of the customer
and the customer learns whether the product
will meet needs
Characterised by nine activities that are
directed at winning customers
Successful management of the selling process
requires good analytical, communication,
decision making, and organisational skills
Engaging the selling process…
1. Prospecting: generating leads
2. Classifying leads: identifying leads with largest revenue potential
3. Developing a sales plan: setting objective and defining how to achieve
4. Making the approach: reaching out and establishing contact
5. Presenting (‘critical hour’): pitching your sales value proposition
6. Trial closing: Early attempt to close sale
7. Overcoming objections: Removing barriers to making a sale
8. Closing: Asking for the order
9. Following up: Delivering product and supporting customer
About identifying potential new customers and
generating sales leads...
Essential in a dynamic and changing market
Must allocate time to generating quality leads
Ten ways of generating sales leads
Ways of generating leads
1. Seek referrals from present satisfied users e.g. Balfour Beatty, Coca Cola Enterprises
2. Ask channel partners e.g. Speedy Hire
3. Attend conferences and exhibitions e.g. Renewable UK Annual Conference
4. Engage web marketing and social media
5. Register and advertise with trade associations e.g. Construction Plant Hire Association
Ten ways of generating sales leads
Ways of generating leads
6. Publicise your business via news media e.g. Forbes, Guardian, Telegraph, Evening
Standard, City AM; retain a PR firm - check out
7. Post offers of information/product trial for limited period on your website
8. Personal visits/cold calls to potential customers e.g. Brandon, HSS
9. Partner with a plant hire firm to stage promotion events
10. Engage Telemarketing e.g. The Telemarketing Company
Be imaginative
in finding ways
to generate
Use own networks
Simple ways to generate leads on
Join (or start) a group
• Find top groups where suspects/customers spend time e.g. ERP
• Post discussion and participate in Q&A and position yourself as an expert
• Seek replies and elicit contact details
Post links to content of value to potential customers
• Become a source of business information and attract connections
• Add value to each conversation
Remember posting is important but engaging is vital
Build and manage your LinkedIn company page to be seen…
• Write your company description to include keyword rich text that resonates
with products and contributes to network search visibility
• Refresh page and add regular (daily/weekly) postings (of testimonials, news
and features) to get into network updates and grow brand awareness
Follow pages of (prospective) customers e.g. Ashtead
• Comment around the most relevant conversations; reply to CEO blogs
• Offer ways to help customers with their business
A crucial step in the selling process
Beginning of a two-way communication between the
salesperson and the customer…
This is the pitch to capture attention, develop interest of
the customer, raise desire and evoke action
Aiming to win customer acceptance of the
The selling model
sales value proposition
A – Attention
Selling benefits is what moves the
customer to buy…
I – Interest
The sales value proposition must feature D – Desire
A – Action
prominently in the sales strategy
Applying the AIDA selling model
State of customer
What you might say…
A – Attention
‘Winning more customers would grow your
business…’ [address the pain…need]
I – Interest
‘How would it be if Firefly enabled you to win
more customers…’ [likely reply…’tell me’]
D – Desire
‘Let me show you how Firefly can do this…’
[present sales value proposition]
A – Action
‘Let me arrange a demonstration’ or ‘hire a unit
for 6months and see the results…’ [trial close]
Sales Value Proposition
A benefits statement
Differentiates product/service from competition
Dramatically improves marketability of product/service
A powerful branding tool that supports the sales
strategy through marketing communications e.g.
advertisements, website, social media
Forges a lasting reputation that allows realisation of
sales and raises customer awareness
A winning Sales Value Proposition
‘Cygnus delivers reliable off grid power,
reduces pollution and saves money for
the user whilst improving revenue and
profitability for the plant hire firm more
than any other generator...’
How to build a successful
sales strategy?
Step 1
Engage the
Step 2
Describe the
Step 3
Create the
Step 4
Step 5
and adapt
Sales Strategy Canvas
Sales Goal
Target Market (Customer)
- Year: £Xm
- Q: £ym/£zm
- Month by person
- Construction , Events and International
- Seeking an economic return
Competitive Advantages
- Sales team (5)
- Distributors
- Easier installation
- Remote monitoring
- Lower maintenance
- Cygnus range
- Sale/rent/lease
- Sales Value Proposition
Resources , skills
Sales Management
- F2F (‘critical hour’)
- Exhibitions
- LinkedIn
- Time and money
- Marketing collateral
- Skills training
- Meet Monday (9-10.30am)
- Weekly reports submitted
- ‘On the job’ coaching
A UK based manufacturer of solar powered generators
Meet the panel
Nitzan Yudan
Co–Founder and CEO
Chris Floyd
Co-Founder and CEO
Cranworth Medical
Jonathan Smith
Co-Founder and CEO
Asked the panel to address five
What is your sales strategy?
What was/is your biggest challenge about selling?
What surprised you most?
What has been your learning experience?
What are your top three tips for someone developing
a sales strategy
What would you suggest Aoife Mhuiri,
CEO of Sports Clinic Plus might do to
sell its services?
Where to go to find out more
about sales strategy – further
1. ‘How to Win Customers and Keep Them for Life: Revised and
Updated for the Digital Age’ by Michael Le Boeuf (August 2000)
2. ‘High Performance Sales Strategies: Powerful Ways to Win New
Business’ by Russell Ward (Oct 2013)
3. Getting to Yes: Negotiating an agreement without giving in by Roger
Fisher and William Ury (Jun 2012)
Jurek Sikorski
Mob: 07889 720735