In a recent sales strategy project, a leader used this phrase that became our tagline for working together: “I’m looking forward to looking forward.”
As a CEO, your role is to ensure that your sales growth strategy is effective today and resilient enough for future tests. Here are six essential principles for testing your existing sales strategy or creating a new one.
Shorter time horizons. We’ve been conditioned to create long-term plans, but today’s marketplace requires us to think and act more flexibly. Rather than sticking rigidly to a long-term plan, adopt an 18-month plan that builds in weekly reviews. Those weekly reviews don’t require much time, but when executed well, they’ll add exponential value as your strategy unfolds. You’ll be better equipped to identify trends, solve challenges, and capitalize on opportunities as they emerge. Shorter time horizons also prevent your strategy from gathering digital dust.
Avoiding “average” in your chosen markets. Spreading resources across numerous initiatives often leads to mediocrity. Instead, concentrate on the vital few areas of strategy where you are best positioned to deliver the greatest results. Pinpoint the products, markets and customer segments where you can excel, and eliminate the ones where you aren’t able to excel. A great question to ask of yourself and your team: Does this element of our strategy position us to lead in our market, or are we at risk of being average?
Sales and marketing BOTH sell. If sales and marketing functions are philosophically divided, strategy results will suffer. Elite organizations align these functions; both contribute to lead generation and sales growth. While these functions may execute different activities within the marketing and sales funnel, there are shared performance goals, regular communication cadence and leadership alignment.
Qualitative voice of customer. While organizations have a level of understanding about their customers, executing a sales growth strategy without their voice presents a risk. The risk usually appears when a key customer is lost to the competition and it comes as a complete surprise. I’ve found great success in helping my clients implement Qualitative Voice of Customer programs that don’t use rote questions or tools, but a somewhat unconventional qualitative approach that gets to the heart of what matters most to them. For your sales strategy to remain relevant and valuable, a qualitative approach positions you as a trusted partner rather than a vendor.
Insulate “can’t lose” accounts. Many organizations use a two-pronged sales growth approach: grow existing high-value accounts and acquire new ones. There’s a subset of high-value accounts, and those are “can’t lose” accounts. Those accounts benefit most from a tailored plan that requires the account team to stay focused on evolving needs, maintaining exceptional service and cultivating strategy relationships. These are the accounts that, when well cared for, are less likely to churn, advocate for you in the marketplace, and present growth opportunities.
Diversify revenue streams with purpose. Much like diversifying an investment portfolio, heavy reliance on a single revenue source leaves an organization vulnerable. The sales team can be an excellent source of diversification ideas, whether that be new products, services or markets. Diversification with purpose enhances offerings without diluting core competencies.
Creating a future-forward sales growth strategy is a leadership imperative. These six principles offer CEOs the best of dynamic strategy that flexes with the marketplace, while still being grounded in an organization’s core strengths.
Amy is the leader in modern sales strategies. She helps mid-market organizations to grow sales results, through sales strategy, advisory, and skill development programs. Her book, “The Modern Seller,” is an Amazon best seller and she is recognized by LinkedIn as a Top Sales Voice.
