Marketing Strategy and Sales Methodology are two important aspects every business must consider when looking for new customers. Effective business development requires the company to determine the overall strategy, approach and methodology behind both finding new leads (inquiries) and converting those leads into paying customers.
These terms (marketing strategy and sales methodology) do not have to be over complicated by long winded corporate style jargon and fluff. They simply answer the question; from an overall perspective, how are we going to approach obtaining new leads and then how are we going to approach turning those leads into paying customers?
When developing a Marketing Strategy it is important to understand the following three points.
- Know your current available resources (potential marketing funds for investment, total potential hours your team can commit to execution),
- Know your capabilities (and inabilities),
- Know how far your current resources and capabilities scale (basically, what happens when sales goals are reached? i.e. will you need more team/office space/funds/etc).
If you know these three points it will become much easier to determine which marketing strategy to take or which combination of marketing strategies to work with; Inbound Marketing Strategy, Outbound Marketing Strategy, or Permission Marketing Strategy.
The same marketing strategy does not work for every organization so we will work with your team to identify what strategy works best for your organization.
Sales Methodology is a little different from Sales Process. A Sales Process can be best thought of visually as a step by step sales process flowchart from lead to sale. Sales Methodology is a lot more all encompassing; it’s the overall strategy and approach, your viewpoint if you like, on Sales in your organization. Your overall viewpoint naturally impacts how you will develop your sale process and interact with potential customers.
Are you going to Take Orders, are you Prospectors, are you Pushy People, are you Over Hypers, are you Problem Solvers, are you Solution Providers? What does all this mean to you and your team? What does all this mean to your potential customers? Are you going to use a text book selling process? Which existing approaches are effective? Which existing approaches will your prospects hate? What approach will work well with our marketing strategy/strategies? What about our Value Proposition, what will work with that?
Determining your approach to converting prospects into paying customers is Sales Methodology through and through, it’s everything relating and impacting on this… it’s nothing less than your overall sales system. Ask yourself the above questions and keep pressing… the answer will come.
With our Sales and Marketing practice we are dedicated to helping you define the best marketing strategy, and we will combine it with the sales methodology that we find to be best for your organization.