Without a doubt, sales are what drives growth and development within any organization. This means that enterprises are no different. Today our DayBPO blog gives you a few reasons why you need a global sales strategy and how we can help.
Read on to find out more.
What Is a Global Sales Strategy?
Naturally, one of the first questions that come to mind is what’s a global sales strategy? Let’s look at an easy-to-understand definition:
Simply put, a sales strategy is a plan that’s put in place to achieve the sales goals of your company. One of its sole purposes is to generate revenue. Of course, as long as there’s a strategy, processes have to be put in place and objectives have to be met in order to deem the strategy successful.
With this in mind, the most effective sales strategies answer these 3 basic questions:
- What are you going to be selling
- Who do you intend to sell to?
- What methods are you going to be using to sell what you have to offer?
Your sales strategy is developed in detail from these 3 questions and will more than likely give way in more detailed analyses and planning.
What Is an Enterprise?
In this case, an enterprise is a ‘for-profit’ business that is run by entrepreneurs. Enterprises are usually established for one of or a combination of the following purposes:
- To solve a problem
- Expound on an idea/ideas
- Filling a gap in the market
- To tackle their competition’s price point
- To pass on knowledge
The Two Types of Sales Strategies and Their Differences
As a large enterprise whose sole purpose is to keep increasing your revenue margin, your sales strategy needs to be on point and well put together. This means that depending on your desired approach, you will need to have an inbound sales strategy or an outbound sales strategy. We’ll look at both in detail.
Inbound Sales Strategy
Inbound sales strategies are focused on the actions of the buyer. The customer’s interest is prioritized to include their pain points, their need, and the overall goals you have in mind for your customers.
When it comes to inbound sales strategies taking an informative, educational, and nurturing approach usually helps as opposed to a ‘hard sell’ type of strategy. This way, you help your prospects through every stage of the buying process; from discovery all the way to making a final decision.
Of course, no sales strategy is complete without capturing data, making an analysis, and seeking to do better as time goes by.
Outbound Sales Strategy
The outbound sales strategy is taken from the standpoint of the seller. Tactics such as cold calling and cold emailing is practiced within the confines of this type of sales strategy. The messages enclosed in the cold calls and emails are about the company’s offerings and it’s usually targeted at a large number of people.
This means that in the case of an outbound strategy, you’re the one reaching out from the inside, making contact with leads, and having them come to you as opposed to them discovering you and initiating contact on their own. This is in essence the main difference between inbound and outbound sales strategies.
While inbound sales strategies have perks, an outbound sales strategy has perks too. One of the main advantages is that feedback and the results of your actions are received almost immediately. Because of this effect, you’re able to quickly determine what works and what doesn’t and pivot in the direction that works for you.
Of course, when it comes to the types of sales strategies to implement, a combination of both inbound and outbound sales strategies should do the trick.
3 Reasons Why You Need A Global Sales Strategy
There are so many reasons why you need a sales strategy and below we’ve hand-picked a few good reasons just to convince you further.
Meet More Customer Needs…Better
Every stage of a customer’s sales comprises different needs. That said, having the right sales strategy and even creating templates for each of the stages within their journey allows you to meet your customer’s needs at every step of the journey.
Improve Your ROI
By implementing a sales strategy, you’re able to deliberately map out what you need to do to reach your target. It also allows you to take a closer look at what works and what doesn’t so that you can adjust accordingly. By following through on these key elements, you’ll be able to take advantage of the results you receive and in turn, get a return on your investments.
Strengthen Your Sales Team
The right people always make a difference especially if you want to experience growth in your business. An exceptional sales team is the core of your sales strategy. Without the right team, developing the best sales strategy becomes more difficult.
Your sales team helps you better understand your target market. They also help you identify your unique selling point that resonates with your audience. Of course, it also enables them to communicate the value of your products and services.
We now understand that having a global sales strategy means you’re planning how you will sell to your target audience. Our enterprise solutions provide you with the language and marketing support you need.
Don’t hesitate to connect with us to make great things happen.