What is a Sales Strategy and why is it important to have one?

Updated: Oct 21, 2019

The Road Map to Success

You're starting a business or are looking to grow your revenue over the next year and are taking with a potential investor to support that growth. They ask you how you are planning on growing your sales x fold over the next y number of years.

You’ve been maintaining a steady stream of income which has hit a plateau. You are looking to diversify your offerings to generate repeat customers and drive more consumers down the “funnel” to purchase.

You are looking to hire a team of people to sell on your behalf - whether that be in a retail shop or a service based business.

In all of these scenarios, you need a sales strategy.

So, what is it? It’s simple in definition: a plan, method, or series of maneuvers for obtaining a specific goal or result (see examples above). It boils down to how do you efficiently and effectively drive new or incremental sales of your product which in its basic form is the transfer of property (physical or intellectual) for money or a credit of some sort.

Seems simple enough, why should I have one?

Well, if you are looking for investors, they are going to want to see what your plan is to generate income and give them a positive return on their investment. With a prepared strategy, you’ll be able to concisely show them your execution plan with enthusiasm and drive versus floundering to come up with the details they are looking for.