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A glorified sales plan is not a sales strategy.
B2B sales strategy needs to be a level higher than a sales plan:
1. It connects your company’s vision & the sales roadmap
2. It considers your competitive landscape
3. It helps prioritize your sales activities
4. It connects your company’s vision & the sales roadmap
A simple heuristic to remember is the 5 questions:
· Why → Company Vision
· What → Sales Strategy
· Who → Target Accounts
· When → Sales Roadmap
· How → Sales Execution
Sales strategy helps answer the question, “what sales activities are we going to execute to achieve the company vision?”
Unlike the company vision, which is timeless, sales strategy should be specific to the current market conditions.
5. It considers your competitive landscape
Consider the word “strategy.” It comes from military strategy. The reason business strategy was a revolutionary concept was accounting for competitors.
Great sales strategy characterizes the competition & positions your offering accordingly.
Consider the word “sales.” It is about generating revenue for the company.
So sales strategy is the plan for how the sales team will drive revenue growth.
6. It should help prioritize
Sales strategy is created on the 1-2 year timeframe. The sales roadmap can be as granular as the next quarter.
The sales roadmap prioritizes the sequence of sales activities you will execute. Its critical input is the sales strategy.
Take these examples of different sales strategies in the B2B software market:
· Company A: Targeting SMBs with a self-service model
· Company B: Focusing on enterprise customers with a consultative sales approach
· Company C: Pursuing government and non-profit organizations with a purpose-driven offering
This informs the sales roadmap for these companies. For instance, a particular year might look like:
· Company A: Automating the sales funnel, scaling the partner program
· Company B: Investing in sales training, expanding the enterprise sales team
· Company C: Securing key public sector contracts, hosting industry events
Sales strategy helps B2B companies in the same market pursue different sales activities.
So what does a sales strategy look like?
The format itself is a succinct document. What I’ve seen work best is:
Sales Roadmap: A detailed spreadsheet
Sales Strategy: A 2-3 page strategy document
Great sales strategy documents encapsulate the principle of “Smart Brevity.” It’s not a lengthy report, but a short, well-written guide.
Summary:
A fancy sales plan is not a sales strategy.
B2B sales strategy:
· Connects the company vision & the sales roadmap
· Characterizes the competitive landscape
· Helps prioritize sales activities
Pls share this so that more B2B Businesses can benefit from this and start implementing within their team.
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