While a great product or service is the core of your business, much like your marketing plan - a clear sales strategy is vital to your enterprise’s growth and success.
However, it is simply impossible to build a sales plan if you don’t know who you’re selling to. So be sure to define who your ideal customer is first and then research.
Ask yourself the following questions:
Will your product or service sell better in a physical shop, an online store or a combination of both? Where is your target market (local, national, international)?What tools and platforms do my ideal customers use to make purchases? Think cross-platform: a strong sales plan is diversified. Don’t be afraid to plan a number of options (online, pop up sales, in store). This will help you to prepare for the unprecedented. COVID-19 has taught many business owners the importance of a plan B!
This type of research will help you understand what type of sales channel(s) your business requires.
Beyond your initial goals, make sure to set clear data-driven targets for each segment within your sales plan.
These targets or estimates should include both costs and outputs. If, for instance, you’re setting out your plans for export sales – get information on shipping costs, tariffs and other hidden charges.
It is advisable to seek this information from a professional body.
Even when you have identified your customers and constructed a sales plan, you still cannot become complacent. Customer and market trends are constantly evolving. You need to recognise that your sales plan is not written in stone and should be revised regularly.
Learn from your LEO how to plan, promote and grow your sales. Visit localenterprise.ie for more support and guidance.
Read more
10 step guide to starting your own business
LEO tip to starting a business: 3. Establishing your business requirements
While a great product or service is the core of your business, much like your marketing plan - a clear sales strategy is vital to your enterprise’s growth and success.
However, it is simply impossible to build a sales plan if you don’t know who you’re selling to. So be sure to define who your ideal customer is first and then research.
Ask yourself the following questions:
Will your product or service sell better in a physical shop, an online store or a combination of both? Where is your target market (local, national, international)?What tools and platforms do my ideal customers use to make purchases? Think cross-platform: a strong sales plan is diversified. Don’t be afraid to plan a number of options (online, pop up sales, in store). This will help you to prepare for the unprecedented. COVID-19 has taught many business owners the importance of a plan B!
This type of research will help you understand what type of sales channel(s) your business requires.
Beyond your initial goals, make sure to set clear data-driven targets for each segment within your sales plan.
These targets or estimates should include both costs and outputs. If, for instance, you’re setting out your plans for export sales – get information on shipping costs, tariffs and other hidden charges.
It is advisable to seek this information from a professional body.
Even when you have identified your customers and constructed a sales plan, you still cannot become complacent. Customer and market trends are constantly evolving. You need to recognise that your sales plan is not written in stone and should be revised regularly.
Learn from your LEO how to plan, promote and grow your sales. Visit localenterprise.ie for more support and guidance.
Read more
10 step guide to starting your own business
LEO tip to starting a business: 3. Establishing your business requirements
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