Sales strategy is Planned approach to account-management policy formation, prospect identification and qualification, sales presentation, and order generation aimed at achieving a firm’s sales quotas or targets.

In today’s economy, big and small businesses are seeking every opportunity to win sales through competitive advantages. Smart owners of small business know a sales strategy can create a competitive advantage.

Selling consists of two main functions: tactics and strategy. Sales strategy is the planning of sales activities: methods of reaching clients, competitive differences and resources available. Tactics involves the day-to-day selling: prospecting, sales process, and follow-up.

The tactics of selling are very important but equally vital is the strategy of sales. The advantages are too compelling to ignore.

Competitive Advantages of Strategic Sales Planning

• Increased closing ratio by knowing clients hot buttons
• Improved client loyalty by understanding needs
• Shorten the sales cycle with outside recommendations
• Outsell competitors by offering the best solution

The development of any type of plan begins with research. The insight gained for a competitive advantage comes from the marketplace not from your mind. The approach to use is what is called  ”Triple-tiered Sales Strategy”. Look at your client and the outside influences on their business. Approach all three tiers to understand your customer. These tiers are

Suppliers : Identify non-competitive suppliers who sell to your customer. Learn their challenges and look for partnering solutions.

Customer: Work directly with your customer and ask them what their needs are and if your business may offer a possible solution.

Associations : What associations does your target customer belong to? Contact the membership director and establish a relationship not for selling but to understand their member’s needs.

Finally gain a competitive advantage by looking at both sides of the equation, tactics and strategy. Use the triple-tiered approach to win business and outsell the big companies in your market with the help of sales strategy.