Business Growth - What is more important your marketing plan or your sales process?

There is always an interesting debate when this question is posed.

Perhaps it depends on where you are with your business and your priorities at any moment in time.

I have heard it explained that your marketing plan attracts potential customers to your door whilst your sales process gets them across the threshold and make a purchase.

Hence if your ambition is to grow your business then you need to ensure you have a viable marketing plan and a sales process that delivers results.

 Your Marketing Plan

Your marketing plan should be a strategic document identifying your target client base and how you will reach out to them. A comprehensive plan is essential to maximise the opportunities in your market place. It should be reviewed regularly to ensure you are up to date with the market trends within your chosen sector. Being aware of what your competitors are doing is necessary to ensure you understand the opportunities and remain competitive, it may also identify gaps you could exploit.

Is your product seasonal? If so, how well do you plan ahead?

How will you fill any gaps in your sales funnel?

Is your potential market increasingly moving online? Does your marketing strategy account for this and keep abreast of where your potential customers are looking for products or services?

Do your brand values set you aside from your competitors and accurately reflect what you deliver and how you go about doing it?

 Client feedback and testimonials

Many organisations fail to capitalise on this opportunity but it is becoming much more prevalent, especially with the numerous on line survey applications available. Don’t be afraid to seek a testimonial, potential customers will trust these more than you think, especially so if it can be seen to be from a genuine customer or a real company.

Feedback is invaluable, positive feedback could be used to promote your business. Negative feedback should be your opportunity to improve your sales process, product or service.

 The simple steps to sales success

Does your business have a well-defined process to ensure each and every sales transaction achieves the best possible result?

You should be able to demonstrate that you clearly understand and are able to identify your potential customers’ pain points and what they are striving to attain. Being able to clearly explain how you are able to address these and the benefits to be achieved is a necessary and valuable attribute.

Awareness of the value of your product or service, its features and benefits to customers will enable you identify the appropriate price in line with the scale set by the competition. It is difficult to justify your price if you are unable to articulate a compelling reason for it.

 Is it a new enquiry?

Is this the first opportunity to promote your product or service?

How has the contact been initiated, is it face to face, on line, a referral, a specific promotion or purely chance? What is the motivation behind the enquiry? Is the contact “Just looking” or a genuine prospect? Answers to these will define the most appropriate way to respond.

 What is the customer looking for?

This is your opportunity to develop a positive relationship and clearly understand the needs and desires of your customer. Asking open questions will reveal their requirement, problem or pain point and your opportunity to provide the “perfect” solution.

 The sales pitch and negotiation

The valuable information gleaned through asking open questions will enable you personalise the content of your sales pitch, making sure you address what the customer is seeking and not what you are pushing to sell. It is also the opportunity to upsell, eg a price break for an increased quantity or duration, “special deals” for customisation or add-ons, etc.

Having understood the requirement and developed the solution it is time to negotiate. This is more than just about price, it could concern upfront payment, quality, delivery date, payment terms, etc.

 Is it repeat business?

Repeat business is a bonus but how frequently do your customers return and is the value of their purchases increasing? This is key information to better understand and capitalise on your customers’ buying habits.

 Quotation and contract

Once the final specification and price are agreed a formal quotation should be provided with T’s & C’s if required, and agreed with a confirmed purchase order.

 Conclude the transaction and issue an invoice

Almost there! Ensure delivery on the agreed date with the correct quantity at the specified quality, etc. Have the delivery acknowledged and issue the invoice. Confirm payment receipt.

And another point to consider, a random check of websites highlighted the last blog was posted well into the past and the “latest news” items were very old. What impression does that give to potential customers?

When was the last time you really critically looked at your website, business card, letterhead and other promotional material? How up to date are they? How do they compare with your peers? Are they consistent with current trends? Is it time for change?

Being market aware with a plan to access opportunities and being confident with your selling and negotiation skills will significantly enhance your ability to grow your customer base and importantly your income.

If you need help with generating a marketing plan or with your sales or negotiation skills we are here to help, simply email michael@basicsandbeyond.co.uk or give us a call on 077762 937137.