Your corporate strategy must be connected to your sales strategy. In today’s article we will dissect this alignment in great detail. We’ll start by defining what a good corporate strategy looks like. Then, we’ll discuss sales strategy. What steps do you need to take to develop, and implement a successful sales plan? And finally, we’ll interconnect the two. How should the corporate strategy influence and feed into the sales strategy?
Your corporate strategy carries a lot of weight. It’s where you set the direction for the entire company, and especially the sales team. It is defined as the allocation of people, money and time in order to grow revenue. What should you consider when you are setting your company’s strategy?
You should start by defining your mission. What do we mean by this? It is defining why you exist. As CEO, have you defined this for your employees, and equally important can they articulate this mission?
Once you have defined your mission, you must understand your vision. This is understanding what you want to become.
You must next consider your brand. How do you want to serve your customers? Additionally you must determine your objectives. What it is that you want to achieve? And in order to hit these achievements, what markets will you compete in and which will you avoid?
Finally, you must define your competition faced in each market. And the unique advantages you have against your competition in the marketplace.
It starts with your sales plan. How are you going to make your revenue goal? You must also define how your customers and prospects will engage with your sales team. How will they convert buyer interest into paying demand?
Another key piece is the sales org model. What type of channels should you sell through? And what type of people do you need to hire in sales? Everything from how you set your quotas, to what your compensation philosophy is should be considered.
Equally important is both sales enablement and support. This is where you ensure your sales team is ready to sell. An effective sales strategy thinks through the infrastructures needed to help the sales team be successful.
Connecting the Two
The first step is to ensure your sales team can articulate your mission in every contact with their customers. There should also be a known set of values. How do you want your employees, and specifically sales, to behave? It’s critical that both of these are alive within the organization. The salespeople are your frontline. They are engaging with your customers daily, and have to be able to articulate both. If they don’t, your strategy will remain at 50,000 feet. It will not be executed. It’s also important to hire the right people. You must interview for a certain values systems, and this requires a behavioral type of interview.
It’s important to have well-developed corporate and sales strategies. And the two must be in alignment. Because a strategy that does not get executed is worthless. And execution is the point where too many companies fail. The sales team plays a vital role. They must execute the strategy daily through their actions. If they are not driving the organization’s strategy in every interaction, it will not deliver the desired results.