How To create An efficient company amelioration Strategy

Offices - How To create An efficient company amelioration Strategy

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The enterprise development Strategy is used to underpin your main enterprise Plan and essentially it sets out a suitable arrival for developing new opportunities, either from within existing accounts or by proactively targeting brand new possible accounts and then working to close them.

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This document highlights the key issues you should think prior to compiling your own plan and will hopefully guide you logically through a proven framework.

The key word is 'Strategy', because you are creating a workable and achievable set of objectives in order to exceed your annual target.

Your beginning Point:

The key words are Who? What? Where? When? Which? Why? How?

For example:

Who - are you going to target?

What - do you want to sell them?

Where - are they located?

When - will you arrival them?

Which - are the suitable target personnel?

Why - would they want to meet with you?

How - will you reach them?

If you have conducted quarterly list reviews with your key accounts during the former twelve months, you should be aware of any new opportunities that will covering during the next twelve months. You will also, when assessing what ration of your annual target regularly comes from existing accounts, need to characterize data over the last two or three years. (It is likely that you can apply Pareto i.e. 80% of your enterprise will probably come from existing accounts and in fact 80% of your total income will come from just 20% of your customers/clients)

You will be left with a equilibrium - i.e. "20% of my enterprise next year will come from new opportunities" - therefore you can then begin to allocate your selling time accordingly.

Ideal buyer Profiling:

Pro-active enterprise development demands that we originate an ideal target at the front end - i.e. An Ideal buyer Profile. The vital characteristics you will need to think are:

- market Sector

- Geographical Location (Demographics)

- Size of organisations (Turnover, number of employees etc)

- Financial Trends

- Psychographics - i.e. Philosophical compatibility

Many strategic sales professionals merely profile their best existing clients and try to replicate them - there's nothing wrong with doing this but we should always remember that we are seeking an Ideal and we can always enhance on what we already have.

'New' Opportunities From Within 'Old' Accounts:

Because it costs roughly ten times as much, to first find and then sell to a new buyer as it does an existing one (although these costs are rarely reflected in the cost of sales), it is vital that we fully establish our existing accounts working upwards, downwards and sideways, thus production the most of the (hopefully) exquisite credit we have industrialized already.

Most corporate accounts have several divisions, departments, sites, even country offices and you must satisfy yourself that you have exhausted every possible avenue. Don't be afraid to ask the examine "Who else should I be talking to in your organisation"?

Developing New Opportunities:

There are a number of ways in which we can target new opportunities e.g.

o Direct Mail

o Telephone Canvassing

o Researching Archived Files For Customers Who Used To Buy From Your Company

o Exhibitions

o Seminars

o User Groups

o E-Mail Campaigns

o Referrals

o qualified Leads

o Advertising

Not all of these will be suitable to your singular industry, but you should not be afraid to experiment - i.e. Challenge the paradigm - and do not accept that just because a singular idea has not worked in the past that it will not do so in the future. (Remember when you were learning to walk - it didn't work first time then!)

The important thing is to make an early decision in terms of what you are going to try and then build this (those) ideas into your specialist plan.

A Typical enterprise development Plan:

You should plan out the whole year and characterize / revise quarterly.

o List your existing accounts and plan what activities / actions need to be completed in order to fully exhaust all opportunities. You may for instance, plan to cover more bases within the decision production unit or experience connected associates or offices. The Strategic list Profile can be used as a prompt.

o Begin to target new accounts using enterprise directories etc. And set targets per week / month / quarter i.e. I regularly allow for eight hours per week as a minimum (Don't forget to continually refer back to your Ideal Profile)

o Then build in what assistance you need from your marketing function - i.e. qualified leads, seminars, exhibition attendance etc.

o finally share your plan with your boss and then commit to it.

You should also quantum it against S.M.A.R.T.E.R. I.e. Is it.

S.pecific

M.easurable

A.chievable

R.elevant

T.imed

E.xciting

R.ecorded

Linking With Your market Plan:

I have suggested that your enterprise development Strategy, would link with your specialist enterprise Plan but logically you should also incorporate it into your market Kit(this is a document that outlines your monthly,quarterly and annual targets) - specifically the areas that deal with new enterprise generation, list management and development, four tier list lists etc.

These three documents when combined should drive and guide you through the next twelve months and beyond.

Summary:

As I have said often enough "People do not fail because they planned to fail but rather because they failed to plan"

The man who knows where he wants to go is more likely to get there, he just has to conclude how to get there. All plans are essentially maps and guides; the strategic element is the 'How'.

Do be ready to convert course, flexibility is key, and don't be afraid to experiment, look covering the square.

Copyright © 2008 Jonathan Farrington. All ownership reserved

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