Sales Strategy: The Ultimate Guide
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1- Vocabulary Acquisition.
First of all, let’s start by giving a definition of sales, selling, prospect, supplier, pitch, leads, strategy, techniques and tactics.
You can use a monolingual dictionary to help you understand the similarities and differences among these words but you have to elaborate the 3 definitions with your own words.
Make it clear (easy to understand & catchy), simple & short !
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2- Vocabulary Acquisition: Idioms.
Idioms are phrases established by common use to have a meaning not immediately deducible from the words themselves. When we say that your colleague “let the cat out of the bag” for example, we do not (in most offices) literally mean that she had released a wild ginger tomcat from her purse but that she had spilled some secret or spoiled some surprise – comparative to a bygone era when cats actually were put in sacks of potatoes to surprise unsuspecting consumers.
Aside from making languages much harder to learn, idioms provide wonderful sales tools. They provide a way of saying something precise without being overly technical. They tend to be informal, social language, and their use helps to warm up social situations, since both people are both “in” on the coded meaning.
Read the following idioms, try understanding their meaning, then write it down so as to be able to explain their meaning to a person who does not know them, never has heard of them, and has a low intermediate level of English. Remember the 3 rules for effective communication: make it simple, clear & short !
1. Play It By Ear
2. Start the Ball Rolling
3. Put the Cat Among the Pigeons
4. Hit the Ground Running
5. Bend Over Backward
6. Hit the Nail on the Head
7. Elvis Has Left the Building
3- SALES TACTICS. Reading Skills: Comprehension, Vocab by context & Predictions.
a) Read the following 9 sales principles, try to understand the main idea that each of them transmits and prepare a short piece of writing to explain each principle to another person.
b) Then decide which one/s are the most useful for you, your context, your company or business and fundament your answer.
In this guide, we’ll help you build the foundations of a strong sales strategy so that you can generate more leads and win more deals
By establishing a strategy based on these proven sales principles, you’ll create a culture that values efficiency and empowers reps to do their best work. It will help provide your customers with value at every step of the customer journey.
You’ll also learn the sales activities and elements to include in order to create a well-oiled system.
Setting goals at each sales stage
Create benchmarks based on past performance
Collect qualitative insights and customer data-points
Get clear with your core differentiator
Adopt a consultative selling approach
Target a specific market segment
Implement a robust qualification system
Automate your follow-up processes
Speed up the process with cold calling
4- Listening Skills: improve your listening comprehension, pronunciation and fluency.
Watch the following video and take notes to identify the most important ideas. Then write a 2-minute speech to summarize the video contents.
1-Setting goals at each sales stage
By using data to drive decision making, you can set reasonable and attainable goals at every stage of the sales pipeline.
Each stage requires a different approach, messaging, content and, most importantly, unique sales activities. The objections and obstacles you’ll come across will also vary, which is why setting goals for every deal stage is key.
The desired outcome for one stage of the sales process is different from the next. Let’s take a look at some of the most common pipeline sales stages:
Prospecting
Qualification
Appointment/meeting/discovery call
Needs defined
Proposal/presentation/offer
Negotiation
Deal won
2-Create benchmarks based on past performance
Sales process mapping is about understanding the activities required to close a deal. But how do you measure those activities and create accurate performance benchmarks?
The first step to setting benchmarks is, of course, measuring the right metrics. The Key Performance Indicators (KPIs) you measure will depend on the activity. Here, we’ll run through a simple, three-step process to developing sales performance benchmarks for your sales strategy.
Step 1: Collect the right metrics
Step 2: Calculate your benchmarks
Step 3: Implement benchmarks into your sales training
Finally, use these benchmarks to set more ambitious goals. Couple these benchmarks with the opportunities you uncovered when mapping your sales process earlier.
Ask questions like “how can you double the rate of growth by focusing on this opportunity?” This is how sales can stimulate explosive growth for their organizations.
3-Collect qualitative insights and customer data-points
While this sales tactic is often seen as an activity reserved for marketing, collecting and sharing your own data about leads and customers will not only help you close more deals, but help the entire organization expand and improve.
Collecting customer insights has several benefits.
Record frequent pain-points.
Listening is one of the best soft skills a salesperson can have.
Every single conversation you have is an opportunity to learn more about their common pain-points, challenges, desires and the things that keep them up at night.
As a leader, how can you create a process that allows your reps to collect these insights? (make a list of possible actions)
Scour publications for research.
Use data to make an argument (anecdotes & stories are not enough).
4-Get clear with your core differentiator
This is another activity that’s often up to marketing to figure out. But just like customer pain points, you’re in a unique position to uncover gaps left open by your competitors.
There are two stages in your sales conversations where you can collect insights on competitors and uncover gaps in the market:
The initial conversation, asking the prospect which supplier they currently use
During objection handling, where inevitably they’ll measure you against other vendors
Can you imagine and explain these two stages (approaches) ? Use your own experience as seller or as buyer to explain them or try remembering what the last seller did when trying to make you buy their services or products.
Approach 1: The initial conversation
Approach 2: Objection handling
5-Adopt a consultative selling approach
What’s the best way to build long-lasting business relationships based on trust? Consultative selling.
As per our definitive guide on the subject, consultative selling is “a philosophy rooted in building a relationship between you and your prospects. A salesperson who practices consultative selling develops a holistic and nuanced understanding of the buyer’s needs, and then they try to fulfill those needs with a customized solution.”
What can you do to build authority and position yourself as an expert? Write some tips.
Create a bespoke solution
With the right information, you can begin to craft a solution specific to their needs. This can be as simple as tying software features to specific challenges, or as complex as building a bespoke done-for-you service to help them achieve a big project or goal.
When crafting a bespoke solution for your prospect … what steps are important to follow ? Enumerate them according to your experience or opinion.
6-Target a specific market segment
For salespeople, a strong position in the market can often make the job ten times easier. But not every salesperson works for a recognized market-leading business, and for those who do, taking this stance can be difficult—especially when you don’t truly understand your customer.
Which is why, especially in today’s competitive climate, targeting a specific segment of the market can help you get the attention of those who operate in it.
Identify market segments and their needs.
Collect customer data.
Interviews.
Evaluate commercial viability: Market size | Differences | Accessibility | Profitability |Unique benefits
Establish your position
With these questions answered, you can now move on to establish your position in the market. Positioning maps is an easy way to do this. For example, here’s what a positioning map looks like:
The variables used here are “price” and “quality.” It maps where each brand sits along these two variables, giving a clearer view of their position in the market.
Which other common position variables can you mention?
7-Implement a robust qualification system
For sales organizations dealing with a large volume of leads, unqualified opportunities are a huge time-suck. An effective sales strategy includes a reliable qualification system that targets leads in a meaningful way.
A strong qualification process should be positioned at the beginning of your sales process:
Define what makes a qualified lead.
Write some qualifying questions you can use during your next sale.
Using the BANT framework. What does BANT stand for?
While every customer and client is different, the opportunities that lead to won deals will share various qualities. You can use the BANT framework to measure an opportunity against these qualities.
8-Automate your follow-up processes
A great sales strategy incorporates effective solutions that save valuable time. One of the easiest ways to reclaim time is to streamline your processes with automation tools.
Without a doubt, following up on leads and opportunities can take up the bulk of a salesperson’s day. From making calls to sending emails (“touching base”), there’s a lot to be done when nurturing a potential customer.
But this doesn’t always have to be the case. By using the right technology and processes, you can automate many steps of the follow-up process.
A study conducted by Drift found that, out of 433 companies, only 7% responded to new leads within the first five minutes. This presents a huge opportunity for organizations looking to improve their follow-up processes.
Let’s look at how to empower your reps to close more sales while saving time.
Start with your CRM. What is CRM ? Explain it in simple words.
A good CRM platform should free you from common administrative tasks, not simply get you to perform them in different ways. If you’re evaluating different CRM vendors, what items would you tick in a list as important?
Know when to automate
With the right technology in place, it’s time to automate! But not so fast. First, you must identify the tasks that don’t need you to execute them.
For example, when following up on a proposal, the trigger and action might look like this:
Trigger: Proposal email sent five days ago
Action: Send email template
Get the timing right
Sometimes, your emails might get lost during a time when the prospect has other priorities, or something has come up in their personal lives. Not getting a response doesn’t always mean rejection.
Therefore, your follow-up sequence should have multiple touch-points. Take all eventualities into consideration. Perhaps they are indeed busy, or they don’t trust you enough just yet and need more convincing.
What factors should you take into account when crafting your follow-up emails?
Set reminders and use personalization.
9-Speed up the process with cold calling
Email is the centrepiece of modern communication. But let’s not forget about the trusty telephone. Indeed, there’s no better way to build rapport and dig deep on prospect motivations than talking to them directly.
In every sales strategy template calling scripts can help reps engage leads. Let’s look at some effective ways to apply cold calling to your sales strategy, and how your sales reps can connect with prospects on a deeper level.
Research your prospect
Build an outline
Collect early stage objections
It’s all about timing
Conclusion
To build an effective sales strategy, you must first truly understand your ideal customer !!!
to correct your activities, visit: https://brainperks4u.wordpress.com/2021/06/23/the-persuasive-language-of-selling-strategies-sales-management-esl-elt-activity-answer-key-2/
sources https://www.pipedrive.com/en/blog/sales-strategy | training industry