In the business world, every producer will try as much as possible to increase sales of their products. One of the factors that most influence the increase in sales volume, namely the right sales strategy.
To find the right sales strategy, Muda Lovers needs to consider many things. The wrong strategy will actually make you suffer losses. The loss in question is not only a loss of money, but also time, effort and mind.
In this article, we will discuss together how to determine the right sales strategy. Important factors for Muda Lovers to pay attention to in determining a strategy such as cost, target market, required platform, and so on.
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Come on, let’s just discuss it together.
Definition of Sales Strategy
The word strategy in the Big Indonesian Dictionary (KBBI) is a careful plan in compiling activities to achieve specific goals and objectives.
The sales strategy is a way of obtaining sales revenue (sales) which is arranged based on the strength, superiority, influence that the producer or someone has.
Furthermore, it is converted into an actionable plan to find new customers or develop existing customers.
Simply put, a sales strategy is a planned activity aimed at increasing the volume of product sales. Be it goods or services.
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Determinants of Sales Strategy
In determining the right sales strategy, there are many factors that are important for Muda Lovers to pay attention to. Such as target market, marketing system, product type, and so on.
What are the factors, here we will discuss together!
1. Target Market
The first thing in determining the sales strategy, namely Muda Lovers must know the target market for the products that Muda Lovers offers. The target market is a group of people that Muda Lovers wants to focus on in carrying out promotions or other ways so that your sales volume increases.
The following examples will make it easier for us to both understand the target market. If Muda Lovers is a salesperson in charge of selling apartment units with the lowest price of one billion rupiah.
If Muda Lovers were to offer the apartment unit to someone just starting their professional career, the probability that the unit would be sold would be very small.
In the world of sales and marketing there is no target market term “everyone” even for goods at low prices. The more Muda Lovers knows about your target market, the greater the opportunity for Muda Lovers to increase sales.
2. Product Type
Second, namely the type of product, not all similar products have the same target market. Try Muda Lovers, look at the example of fruit juice as a product.
Fruit juices that we find a lot in restaurants or even on the street are only limited to types of drinks. This is different from juice products that focus on their health value.
The things mentioned above will certainly be very interesting for people who prioritize health. The secret of the sales strategy is actually in the form of service and not the juice product.
3. Marketing System
The third factor, namely the marketing system that is carried out. The determination of this marketing system comes back from the two factors above, the target market and the type of product.
Will Muda Lovers only carry out marketing promotions through social media? Will Muda Lovers start by offering your product to your close friends and relatives?
Everything that Muda Loversdoes is fine , as long as the reciprocity (conversion) between the business that Muda Lovers does and Muda Lovers sales volume is “balanced”.
Balance what is meant here is the success ratio based on the marketing targets that Muda Lovers wants to achieve.
4. Research and Evaluation
In the digital era and the development of the internet, it is very easy for Muda Lovers to access information that is useful for increasing Muda Lovers‘ sales . It could be that there are new ways that Muda Lovers has not implemented in Muda Lovers‘ sales strategy .
Do an evaluation of the way that Muda Lovers has done before. Does this method work? Are the energy, time, and thoughts in compiling the strategy balanced with what is produced?
5. Build a Sales Strategy
As explained in the previous section, many factors can influence the success of a person or producer in their sales strategy. Here’s what Muda Lovers can do too:
1. Setting Targets
Setting targets here is not determining the target market, but increasing the target sales volume to be achieved. In determining sales targets, Muda Lovers must be specific, for example, the target market must increase by 5 percent or 150 percent.
The important thing that Muda Lovers needs to pay attention to in setting a sales volume increase target is the target that must be measurable. The purpose of measurable here is that the target must exceed the “manageable” number, but not too far from the calculation so that it doesn’t make sense.
There are two important reasons why targets must be measurable. Reasonable targets will be more easily realized and planned so that they are not only seen as discourse.
Second, it provides a realistic challenge to the sales team that can drive effort in the sales process.
2. Consumer Profiles and Product Offerings
Furthermore, Muda Lovers must know the target consumer information, such as the average age of consumers, consumption culture, the important values they consider in buying products, and so on.
In the product offering process, the sales team already knows all the information about the product and tries to inform the advantages and benefits of the product to be offered.
3. Recruitment and Compensation
Third, namely the need for talents in sales that can make it easier for Muda Loversmanufacturers to increase sales volume. Don’t forget the compensation that Muda Lovers will provide for the achievements of your sales team as a form of producer appreciation.
If the manufacturer has a reliable salesperson and has the appropriate track record. Anyone can be a salesperson, but not everyone can make sales.
For this reason, if the salesperson at your producer excels, then there must be appreciation or compensation. Because if you don’t, your salesperson who excels might even go out and set up his own manufacturer.
There are 6 categories according to Shopify, to find the right person as a salesperson, the categories are as follows:
- Intelligence
- Work ethic
- History of success (not just work performance)
- Creativity
- Entrepreneurship
- competitive
4. Performance Measurement Procedure
After all of the above have been fulfilled, the next step that Muda Loversneeds to take is to create a system that can measure the performance of the sales team.
There are many indicators that Muda Lovers can use in determining procedures such as the number of prospects, the amount of consumer data collected, and so on.
5. Sales Activities
Next, Muda Lovers must describe the work of your sales team in general. This is important for Muda Lovers to do in order to make it easier for Muda Lovers to collect relevant data and analyze whether the sales strategy that Muda Lovers is implementing requires adjustments. Sales activities include,
- Qualification of prospects, selecting prospects that have higher potential in acquiring new customers
- Presentation, there must be a general framework or outline of how each of your salespeople conducts product presentations
- Problems, identify problems that will generally occur
- Closing technique, giving direction to each sales word what to use in order to be able to close with existing prospects. Can be in the form of giving discounts and others.
- Timeline, this is important so that your sales team doesn’t spend time on prospects that take too long to be clear.
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Sales Strategy Benefits
There’s definitely a lot that Muda Lovers can get from a sales strategy. Because in terms of business we must have a strategy for what will be implemented better.
With the Muda Lovers sales strategy it will be easier and faster to sell Muda Lovers products on the market. What are the benefits of a sales strategy, let’s follow.
1. Adding New Customers
If Muda Lovers uses a sales strategy, Muda Lovers will filter out a lot of new consumers who see Muda Lovers products on the market. Make sure consumers will like Muda Lovers products and more and more consumers are interested in Muda Lovers products.
Make sure the strategy that Muda Lovers uses matches the Muda Lovers product as well. So don’t get the strategy wrong because it can actually make Muda Lovers consumers run away.
With a good and appropriate sales strategy, consumers who were not interested before will turn to Muda Lovers. The more consumers, the more profits will be obtained. This can be through the use of attractive packaging and cute shapes so that many consumers like it.
2. Increase Business Income
The more products that sell well in the market, the business income of a producer will also increase. That way, producers must maintain a good sales strategy so that many consumers are interested in the products launched on the market.
With increased income, producers can produce products that are even more unique, even better, so that consumers continue to grow.
That way business income will also increase. Production operating costs will also be reduced due to increased producer business income. Make sure the strategy used is well packaged in the product.
In order not to disappoint consumers and business income will continue to be stable. That way the company will progress as well.
3. Introducing New Products Quickly
If manufacturers have new innovations or new products launched, they must be introduced to consumers quickly, so that they immediately adapt to these products. Manufacturers can introduce new products through advertisements, on social media, and others. Because that way consumers will quickly find out about the new products launched by these manufacturers.
So producers must also think about how to convey these new products to consumers. For example, by using digital media that will be known more quickly by consumers. That way consumers will immediately hunt for the product that Muda Lovers has launched.
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Tips for Planning a Sales Strategy
Before Muda Loversmakes a strategy and fixes using that strategy, Muda Lovers must also plan in advance by looking at other aspects. Will consumers like our products if they use this strategy, and so on. So everything has to be carefully thought out by the manufacturers and the marketing department.
1. Seeing the Market Potential
Before implementing a company strategy, it must also look at the market potential that manufacturers will use to launch their products. So what strategy fits the market with its consumers. Producers can conduct research for market areas and so on whether they are in accordance with what is targeted by producers. Will the producers benefit from selling their products in the market? Producers also have to see how the market conditions at that time.
2. Check Consumer Purchasing Power
After researching the condition or potential of the market that has been determined. Producers must also see and check the purchasing power of consumers in the market.
Do not set the wrong price, if the product is too expensive, consumers will not buy it. Because price also affects this sales strategy.
Muda Lovers can also take advantage of this consumer’s purchasing power to create the right strategy so that the product can be sold and many consumers like the product that Muda Lovers has launched.
3. Pay Attention to Consumer Needs
Producers also have to check what consumers need at that time or what is going viral at that time. So that way it will be easy for producers to find the right sales strategy.
Make sure the product that is produced will be liked by consumers because at that time consumers needed it and many were eyeing such products.
However, don’t let Muda Lovers products be the same as other products, give it its own uniqueness and make it unique to Muda Lovers products .
4. Use the Right Marketing System
Companies must also be smart to choose the right marketing system for their products, not only from the product, but the market they will use to sell their products, with the right price fixing too.
So with this proper marketing system, producers will achieve the targets they want, many consumers will like their products, and producers will also earn increased income. Many also like their products.
5. The Right Media Sales Strategy
The media that can be used is very much for today’s growing era. Manufacturers can use something that is around them. And what is often used by consumers so that their products can be quickly seen by consumers.
So producers must be good at choosing what media they will use according to the product to be sold. Make sure the product promotion is made in such a way that consumers who see it can be interested in the product.
6. Use Social Media
Social media is media that is often used by consumers. In fact, everyone has social media. Social media is great for use in sales strategy.
Many consumers will see Muda Lovers products quickly. There are many social media that are used today, one of which is Instagram. There are so many products now being promoted through Instagram.
Because there are so many users and it’s easy for consumers to see, even all over the world can see Muda Lovers products .
8. Use Banners
Using banners is also effective for a product sales strategy. Muda Lovers can post these banners on the streets so that many people see them.
Maybe a few are using banners now, but using these banners can also help Muda Lovers in selling Muda Lovers goods . So Muda Lovers had to put up banners in many places. The drawback of this banner is that Muda Lovers will require a lot of money to make banners and take time to install banners in several places.
9. Use Rewards
Not only from social media or banners, Muda Lovers can also use prize media. So what is meant in promoting Muda Lovers products is to provide products so that consumers also feel happy. Maybe that holds true for some time on the new product launches that Muda Lovers uses.
Or Muda Lovers can give gifts in the form of Muda Lovers products so consumers feel happy buying products from Muda Lovers companies . Prizes can be anything depending on the manufacturer and sales strategy used.