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![Applying the AIDA selling model
State of customer
engagement
What you might say…
A – Attention ‘Winning more customers would grow your
business…’ [address the pain…need]
I – Interest ‘How would it be if Firefly enabled you to win
more customers…’ [likely reply…’tell me’]
D – Desire ‘Let me show you how Firefly can do this…’
[present sales value proposition]
A – Action ‘Let me arrange a demonstration’ or ‘hire a unit
for 6months and see the results…’ [trial close]](https://image.slidesharecdn.com/successfulsalesstrategy-181005101503/85/Successful-sales-strategy-20-320.jpg)
Uploaded byAjit Kumar
Successful sales strategy
A sales strategy is a plan to achieve a business's sales goal by defining how it will attract, retain and develop customers. It aligns the sales approach with the goal. Key elements include goals/objectives, target market, products/services, competitive advantages, resources, selling process and sales management. Developing an effective sales strategy involves engaging stakeholders, analyzing the current situation, creating a sales strategy canvas, preparing a document and reviewing/adapting it. The presentation provided tips on developing a sales strategy and summarized a panel discussion on sales strategy challenges and lessons learned.
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Successful sales strategy
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- 2. Successful Sales Strategy Whatis (and why have) a sales strategy? Key elements of a sales strategy The Selling Process ‘Sales Value Proposition’ How to build a successful sales strategy Ask the Panel Coming up...
- 3. A plan toachieve the sales goal of a business Describes how a business will win, retain and develop customers... A blueprint for success What is a sales strategy?... Successful Sales Strategy
- 4. What does asales strategy do?… ‘Defines the selling activities and allocates resources to deliver the sales goal of the business…’ Successful Sales Strategy
- 5. Why have asales strategy? ‘Without a sales strategy the company’s customer facing people will struggle to obtain the focus needed for successful selling’... ‘every organisation needs a sales strategy’ ‘A sales strategy aligns the company’s sales goal with the approach to achieve that goal’ Successful Sales Strategy
- 6. Key elements ofa sales strategy?… 1. Goal and Objectives • What is the goal of your business? e.g. ‘We want to become the UK’s leading supplier of solar powered generators by sales within 3 years’ • What are the objectives that when achieved will deliver the goal? 2. Target Market (Customer) • Who is your target customer group? What /how/why… do they buy? • Who is the person you are selling to? What are their needs 3. Products/Services • What are you selling to the target market? Why would the customer buy? • What is your sales value proposition? 4. Competitive Advantages • Who are your competitors? What are their strengths/weaknesses?... • What are your competitive advantages ? How are you better, cheaper, faster? Successful Sales Strategy
- 7. Key elements ofa sales strategy?… 7. Resources, Skills and Capabilities • What resources (e.g. sales time, money), skills and capabilities (e.g. sales planning, key account management ) are required to sell • How will you develop and improve skills e.g. selling skills training… 8. Sales Management • How is the sales target set, sales performance reviewed, coaching provided? • What performance incentives are provided? e.g. bonus scheme 5. Route to market • How will you reach the customer? e.g. direct, channel partners, internet • What direct route will you adopt? e.g. sales team, telesales, trade shows 6. Selling Process • What are your selling activities? e.g. prospecting, approaching and presenting • How will you maximise success during the ‘critical hour’ in front of customer? Successful Sales Strategy
- 8. A sales strategyaddresses common business challenges? Stagnant or declining sales revenues Merger of sales forces after an acquisition New product introductions Launch of a new competitor Expansion to new markets Successful Sales Strategy
- 9. Key Partners KeyActivities Key Resources Customer Relationships Channels Customer Segments Cost Structure Revenue Streams Off grid solar/hybrid power generation industry New customers Construction and Plant Hire firms – need to service client projectsAdvocates Trialists Sales team DFID, Aid Agencies Range of peak power outputs Reliable power delivery Silent operation Zero/reduced CO2 pollution Portable Designing, manufacturing and supplying generators Marketing and selling Recruitment and training of resellers Working capital Technical/commercial staff – develop and market International resellers Plant and hire firms Battery and power inverter suppliers Electronic circuits suppliers Simple installation/commissioning Investors Facility landlord Cost of sales (<50%) Salaries (£zk pa) Facility (£xk pa) Price set at £x FOB Revenue £1.8m rising to over £25m by year 5 Gross Margin: min. 50% Knowledge and expertise Range of purchase options Marketing (£yk pa) Resellers Selling is a key activity of your business model... Business Model Generation: Alexander Osterwalder & YvesPigneur 2010 International Aid agencies – Need robust power generation solutions at a low cost Event and Broadcast organisers – need a source of reliable power that is non polluting at an affordable cost Value Proposition Successful Sales Strategy
- 10. What is sellingabout?… Selling is helping the customer to buy Helping the customer to make up his mind based upon the satisfaction of his/her needs Selling is about going for a ‘win-win’ for you and the customer Selling is not so much about shifting product as making... customers Successful selling is about asking questions and listening to the answers… Successful Sales Strategy
- 11. Customer orientation isa vital concept in selling… Focus on the customer NOT the company!... Know that customers buy to satisfy needs... Recognise needs are fulfilled by benefits derived from features... Deliver desired outcomes Successful Sales Strategy
- 12. How customer orientationworks! Need Benefit Feature Reliable off grid power generation that helps its customers manage/ eliminate their challenges and deliver their projects on time and within budget and… that yields a strong return on investment Provides reliable, silent and emission free power generation solutions that eliminate challenges faced by users helping them reduce costs and for Speedy Hire improve profits Firefly designs and manufactures off-grid, portable and permanent solar-powered generators for a wide range of applications from festivals to construction site offices A UK based manufacturer of solar powered generatorsAn equipment rental and support services supplier Customer orientation drives sales Successful Sales Strategy
- 13. Understand the ‘sellingprocess’ A communication and learning experience Salesperson learns the needs of the customer and the customer learns whether the product will meet needs Characterised by nine activities that are directed at winning customers Successful management of the selling process requires good analytical, communication, decision making, and organisational skills Successful Sales Strategy
- 14. Engaging the sellingprocess… 1. Prospecting: generating leads 2. Classifying leads: identifying leads with largest revenue potential 3. Developing a sales plan: setting objective and defining how to achieve 4. Making the approach: reaching out and establishing contact 5. Presenting (‘critical hour’): pitching your sales value proposition 6. Trial closing: Early attempt to close sale 7. Overcoming objections: Removing barriers to making a sale 8. Closing: Asking for the order 9. Following up: Delivering product and supporting customer Successful Sales Strategy
- 15. Prospecting About identifying potentialnew customers and generating sales leads... Essential in a dynamic and changing market Must allocate time to generating quality leads Successful Sales Strategy
- 16. Ten ways ofgenerating sales leads Ways of generating leads 1. Seek referrals from present satisfied users e.g. Balfour Beatty, Coca Cola Enterprises 2. Ask channel partners e.g. Speedy Hire 3. Attend conferences and exhibitions e.g. Renewable UK Annual Conference 4. Engage web marketing and social media 5. Register and advertise with trade associations e.g. Construction Plant Hire Association
- 17. Ten ways ofgenerating sales leads Ways of generating leads 6. Publicise your business via news media e.g. Forbes, Guardian, Telegraph, Evening Standard, City AM; retain a PR firm - check out www.prweek.com 7. Post offers of information/product trial for limited period on your website 8. Personal visits/cold calls to potential customers e.g. Brandon, HSS 9. Partner with a plant hire firm to stage promotion events 10. Engage Telemarketing e.g. The Telemarketing Company Be imaginative in finding ways to generate leads Use own networks Successful Sales Strategy
- 18. Simple ways togenerate leads on LinkedIn… Join (or start) a group • Find top groups where suspects/customers spend time e.g. ERP • Post discussion and participate in Q&A and position yourself as an expert • Seek replies and elicit contact details Post links to content of value to potential customers • Become a source of business information and attract connections • Add value to each conversation Build and manage your LinkedIn company page to be seen… • Write your company description to include keyword rich text that resonates with products and contributes to network search visibility • Refresh page and add regular (daily/weekly) postings (of testimonials, news and features) to get into network updates and grow brand awareness Follow pages of (prospective) customers e.g. Ashtead• Remember posting is important but engaging is vital • Comment around the most relevant conversations; reply to CEO blogs • Offer ways to help customers with their business
- 19. Presenting A crucial stepin the selling process Beginning of a two-way communication between the salesperson and the customer… This is the pitch to capture attention, develop interest of the customer, raise desire and evoke action The selling model A – Attention I – Interest D – Desire A – Action Aiming to win customer acceptance of the sales value proposition Selling benefits is what moves the customer to buy… The sales value proposition must feature prominently in the sales strategy
- 20. Applying the AIDAselling model State of customer engagement What you might say… A – Attention ‘Winning more customers would grow your business…’ [address the pain…need] I – Interest ‘How would it be if Firefly enabled you to win more customers…’ [likely reply…’tell me’] D – Desire ‘Let me show you how Firefly can do this…’ [present sales value proposition] A – Action ‘Let me arrange a demonstration’ or ‘hire a unit for 6months and see the results…’ [trial close]
- 21. Sales Value Proposition Abenefits statement Differentiates product/service from competition Dramatically improves marketability of product/service A powerful branding tool that supports the sales strategy through marketing communications e.g. advertisements, website, social media Forges a lasting reputation that allows realisation of sales and raises customer awareness
- 22. A winning SalesValue Proposition ‘Cygnus delivers reliable off grid power, reduces pollution and saves money for the user whilst improving revenue and profitability for the plant hire firm more than any other generator...’ Successful Sales Strategy
- 23. How to builda successful sales strategy? Step 1 Engage the customer facing team Step 2 Describe the current situation Step 3 Create the ‘Sales Strategy Canvas’ Step 4 Prepare sales strategy document Step 5 Launch/ review progress and adapt Successful Sales Strategy
- 24. Sales Strategy Canvas AUK based manufacturer of solar powered generators Products/Services - Cygnus range - Sale/rent/lease - Sales Value Proposition Target Market (Customer) - Construction , Events and International - CEO/FD/PM - Seeking an economic return Competitive Advantages - Easier installation - Remote monitoring - Lower maintenance Route - CEO - Sales team (5) - Distributors Sales Goal - Year: £Xm - Q: £ym/£zm - Month by person Selling - F2F (‘critical hour’) - Exhibitions - LinkedIn Resources , skills - Time and money - Marketing collateral - Skills training Sales Management - Meet Monday (9-10.30am) - Weekly reports submitted - ‘On the job’ coaching Successful Sales Strategy
- 25. Meet the panel NitzanYudan Co–Founder and CEO FlatClub Chris Floyd Co-Founder and CEO Cranworth Medical Jonathan Smith Co-Founder and CEO LendMeYourLiteracy Successful Sales Strategy
- 26. What is yoursales strategy? What was/is your biggest challenge about selling? What surprised you most? What has been your learning experience? What are your top three tips for someone developing a sales strategy Asked the panel to address five questions... Successful Sales Strategy
- 27. What would yousuggest Aoife Mhuiri, CEO of Sports Clinic Plus might do to sell its services? Successful Sales Strategy
- 28. Where to goto find out more about sales strategy – further reading 1. ‘How to Win Customers and Keep Them for Life: Revised and Updated for the Digital Age’ by Michael Le Boeuf (August 2000) 2. ‘High Performance Sales Strategies: Powerful Ways to Win New Business’ by Russell Ward (Oct 2013) 3. Getting to Yes: Negotiating an agreement without giving in by Roger Fisher and William Ury (Jun 2012) Successful Sales Strategy
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