In the previous few months we have asked that you define your products and/or services and your value proposition, look at why people buy what you sell and define what you sell and what you want to sell.  Now let’s look at the “defining the specific companies and the people inside of those companies, who will buy what you sell” component of your strategic plan.  How do you and your sales team define who will buy what you sell?

Initially when we ask our client’s this question, typically they quickly answer with a large, global view of their customer base.  Most sales organizations do not even have target company lists.  What is really needed is a list of target companies defined down to the level of the guy with the need and the money to satisfy that need!

Do you have a strategic market plan as part of your strategic plan?  Do you think you can get by without one?  We find that if we build a plan and then we manage the plan we get results.  The key to a strategic market plan or the sales component of the strategic plan is to work to define exactly WHO you want to sell to.

You are experts in the markets in which you compete, so you know the customer’s that buy what you sell.  Now you need to define the exact target customers that you want your sales resources to devote their time to sell to.  For this target list to be truly effective we need to not only know the company that we will sell to and what products of ours they will buy, but we need to work to identify the PERSON OR PERSONS that we need to sell to.  This is where we often find opportunity for improvement.

No matter the size of your sales team you will find that you have limited resources and you have to leverage these limited resources to capitalize on the opportunities.  This is why we define our target lists to the people we need to see and not just the company.  It takes work to get to this level but that is part of being an expert at what you do.

It is critical that you define your markets and list the companies and then the people in each company that are the best for you to call on and work with.  Doing this will put your sales team in front of the right person at the company that need what you sell and is in a position to do something about it.  It will also set your team up to network and find others at these companies that need what you sell.

We live in a world of constant change, so you should expect that your target list will change. Remember, a business plan is a living, breathing document and you need to continuously work on making sure your products or services keep up with the needs of your customers.

This means you have to continuously analyze what you are doing and make the necessary changes when the market demands.  Doing this is the key to making the sale and growing your company.  You have to put your team in front of the right people with the right tools to solve problems or offer solutions.

Coaching these skills is a critical part of what we do.  We are here to help you develop and implement your Strategic Plan and coach and develop the skills to implement the plan successfully.