Complete guide to a winning sales strategy

What is a sales strategy?

A strong sales strategy is your shortcut to success. It tells your team exactly how to close deals and hit targets. Everyone’s on the same track, working together to crush your sales goals.

Who develops a sales strategy?

Crafting a winning sales strategy is a collaborative effort. While the CEO or sales director might have the final say, the most effective sales strategies involve input from across the sales organization, including other sales, marketing, and sales enablement teams. Let's talk about the specific contributions of each:

• Sales: The sales team is the boots on the ground, providing first-hand customer insights and battlefield intelligence. They understand customer needs, buying cycles, and common objections. Their perspective is crucial for crafting a strategy that resonates with the target audience and addresses their pain points.

• Marketing: Marketing brings a data-driven approach to the table where they can access customer demographics, buying behavior and marketing campaign performance metrics. By analyzing this data, marketing can help identify ideal customer profiles, sales channels, and messaging that will resonate with the target market. 

• Sales enablement: Acts as the bridge between sales and marketing, confirming that sellers have the tools, resources, and training they need to execute the sales strategy effectively. This includes developing sales collateral and playbooks, and conducting sales training programs. 

While all three teams contribute, one team often takes the initiative in creating the strategy. This role could fall to the sales leader, who deeply understands the sales organization and its goals. 

Ultimately, the most successful sales strategies are the result of a collaborative effort. Businesses can develop an insightful and executable strategy by combining the strengths of sales, marketing, and sales enablement.

What are the types of sales strategies?

In sales, there are two main approaches—inbound and outbound. Both have strengths: inbound pulls in qualified leads, while outbound gets your product in front of new audiences. The best approach depends on your industry. 

Inbound sales strategies

Think of inbound sales as a magnet, drawing in potential customers who are already aware of their needs and actively researching solutions. These prospects have likely found your website, blog, or social media content (Could even be networking sites like LinkedIn), indicating their interest in what you offer. Your sales team is a trusted advisor, providing valuable insights, addressing concerns, and guiding them through the purchase journey. This method excels at attracting qualified leads close to making a decision. 

Outbound sales strategies

Outbound sales empower your team to take the initiative. This strategy involves reaching out directly to potential/prospective customers who might not be actively searching for your product. Techniques like cold calling, target emails, and solutions are all tools of the trade. Outbound sales allow you to directly connect with a broader audience and generate fresh leads, but it requires more upfront effort to qualify prospects.

The best sales strategy for your business depends on your target audience, budget, and product type. Some companies may benefit from a blended approach, utilizing both inbound and outbound tactics. Consider these factors when making a decision.

5 successful sales strategy examples

There is no one way to sell; you have to build the sales strategy that works best for your company, customer, and your sales force. Below are some of the tools you can use in your strategy.

1. Customer retention

Your greatest sales potential often lies with those who already know you—your existing customers. They’re a goldmine of revenue. Studies show repeat customers spend 67% more in year three than in their initial purchase. So, how do you tap into this potential?

• Upsell: Offer premium versions or add-ons to existing customers. Imagine the classic McDonald’s “supersize”: a simple upsell that boosted revenue. 

• Cross-sell: Recommend complementary products. Think “Would you like fries with that?”: another cross-selling tactic that McDonald’s mastered. 

2. Bundling

Bundling combines products or services at a discounted price. It’s like when a telecom company offers a discounted package with several streaming services instead of selling them individually. 

Bundling can:

• Boost sales: Encourage customers to buy more and increase average transaction value. 

• Enhance satisfaction: Customers perceive greater value in a bundled package.

There are two main bundling approaches:

• Pure bundling: Here, products are only available as a package (think cable TV with internet)

• Mixed bundling: Customers can choose individual items or the discounted bundle (think buying a phone separately or with a service plan)

3. Free trials

Free trials allow potential customers to experience your product firsthand. It’s a popular tactic for SaaS companies and subscription services. Here’s how they work:

• Limited time: Free trials have a set duration, typically days or weeks, depending on a product's complexity. 

• Full access: Customers can usually explore all features and functionalities during the trial. 

• No strings attached: No upfront payment or credit card is required, lowering the entry barrier. 

Free trials serve a double purpose:

• Sales tool: They showcase your product’s value and convert potential customers. 

• Lead generation: Trial sign-ups indicate a high customer intent, allowing your sales team to target qualified leads.

4. Discounts

Discounts are a time-tested tactic to motivate customers to purchase by offering reduced prices. These breaks can potentially bring in new customers looking for a bargain. Additionally, discounts help move excess stock. 

• Another benefit to this tactic is the versatility discounts can appear in:

• Percentage discounts: Price reduction based on a percentage

• Fixed amount discounts: A specific dollar amount subtracted from the price

• Seasonal or holiday discounts: Promotions offered during specific times

• Volume discounts: Discounts for bulk purchases or exceeding a certain order quantity

• Promotional codes or coupons: Customers enter a code or present a coupon to redeem a discount

• Cashback or rebates: Customers receive a portion of their purchase price back after the sale

• Trade-In discounts: Customers get a discount when trading in an old product for a new one

5. Referrals

The best marketing? Satisfied customers spreading the word! Referrals are new leads or customers gained through recommendations from existing clients, contacts, or partners. Here are some common sources:

• Satisfied customers: Happy customers are likelier to recommend you based on their positive experience. Offer incentives like discounts for referrals. 

• Partners: Referral partners are businesses that recommend your products to their customers in exchange for benefits. Building such a network expands your reach.

Referral-based leads often convert at higher rates because they come with a built-in level of trust established by the referrer.

By strategically using these sales tools, you can create an accessible plan to achieve your business goals.

How to build a professional sales strategy for your business?

There’s no magic formula for sales success. The best strategy is custom-built for your company’s DNA and goals. Here’s a roadmap to craft yours:

1. Establish company vision and goals

Vision

Where do you see your company in the future? A clear vision shapes your present actions. Every step you take now should propel you closer to your ultimate goal.

Revenue goals

These should align with your vision. Why are you aiming for $250,000 in sales this quarter? How does it contribute to your long-term vision?

2. Find the right market and buyer persona

Gone are the days of generic customer profiles. Create a detailed picture of your ideal buyer, including: 

• Background: What’s their story? Understanding their experiences helps connect with them. 

• Pain points: What challenges do they face? Your product or service should be the cure.

3. Analyze risks and opportunities

• Strengths: What makes your company stand out?

• Weaknesses: Where can you improve?

• Opportunities: Unexplored areas for growth?

• Threats: Potential challenges you face?

This simple yet powerful analysis helps you identify opportunities and navigate potential threats within your industry.

4. Align sales and marketing

These teams often work in silos, but collaboration is critical. Here’s a way to make them work together.

Sales insights: Sales reps can share customer interactions with marketing, who can use this data to target leads more effectively.

Marketing resources: Marketers can equip salespeople with valuable tools like case studies and battle cards for better engagement with prospects. 

Working together, they can create a unified value proposition message and identify the best channels (social media, email, etc) to reach your audience.

5. Define your sales process

This is a roadmap for your sales reps, outlining the steps they need to take at each stage of the customer journey to convert prospects into paying customers. It's different from your overall sales strategy, which focuses on big-picture goals. 

6. Hire the perfect sales team

Hire the right people who align with your company culture and possess the skills to drive sales success.

Here’s a holistic approach:

• Hiring: Seek candidates who fit your ideal salesperson profile

• Retention: Create a positive sales culture that keeps your team motivated and reduces turnover

• Coaching: Equip your team with essential skills (cold calling, objection handling) and provide ongoing sales enablement resources

7. Have an action plan

Having a clear vision for your sales goals is essential, but a concrete action plan requires turning that vision into reality. This plan translates your overarching strategy into a series of actionable steps, guaranteeing everyone on your team knows exactly what needs to be done and by whom.

Check out how to create a robust action plan:

• Break down goals: Start by deconstructing your sales into smaller, more manageable tasks. For example, if your goal is to increase qualified leads by 20%, this could translate to creating ten new blog posts, running target social media ad campaigns, and attending two industry events within the next quarter. 

• Assign ownership: Once you’ve identified these actionable steps, assign them to specific team members based on their strengths and expertise. This fosters accountability and ensures each task has a clear owner.

• Set realistic timelines: Don’t set yourself (or your team) up for failure with unrealistic deadlines. Be mindful of workloads and project complexities when establishing timeframes for completing each step. 

Track and monitor progress: Regularly monitor progress towards your goals. This may involve holding weekly team meetings, utilizing projects, keeping a close eye on progress, identifying any roadblocks early on, and making adjustments as needed.  

8. Invest in sales tools and software

A customer relationship management system automates tasks, captures and tracks leads, and helps nurture them through your sales funnel. This allows you to deliver targeted content and offers, ultimately driving sales. 

With this roadmap, you can create a winning sales strategy that propels your business to new heights.

Best practices to have a winning sales strategy

1. Perfect your sales pitch

Perfect your sales pitch

Forget generic pitches. A compelling sales pitch is a captivating story that resonates with your prospect’s challenges.

Here’s the difference:

• Weak pitch: “Hi Jane,  I'm Rebecca from ABC Corp. We offer a data storage solution. Interested?" (No intrigue, no problem addressed)

• Strong pitch: "Hi Jane, as an accounts manager, I see marketers struggle with report-generating tasks that take up an hour but rarely get noticed. At ABC Corp, we created DAT, a tool that stores all your data and generates reports in 30 seconds. Sounds interesting?" (Connects with Jane's pain point and offers a solution)

2. Reach out to inbound leads in 24 hours

In today’s world, informed buyers search and consider multiple solutions simultaneously. The golden rule is to respond to an inbound lead within 24 hours. 

Why? Up to 50% of sales go to the first vendor who responds. By reaching out quickly, you can:

• Get the first-mover advantage

• Be the first to acknowledge their needs and answer their questions

• Build trust and establish a valuable connection

3. Follow up consistently

Inboxes are overflowing, and prospects can get busy. Don’t give up after one email. Studies show that prospects need to hear from you an average of seven times before they engage. Don’t let opportunities slip through the cracks—implement a consistent follow-up strategy.

4. Ask customers for feedback

Your customers are a treasure trove of insights. They use your product daily and understand its strengths and weaknesses. 

Gather feedback: Actively solicit feedback through surveys, customer interviews, or support interactions. 

Embrace feedback: Don’t shy away from negative comments. View them as an opportunity to improve your product or service. 

5. Upsell and cross-sell

Happy customers are receptive to additional offerings. Here’s the secret: 80% of your future profits could come from just 20% of your existing customers. 

• Upsell: Offer premium versions or add-ons to existing customers

• Cross-sell: Recommend complementary products or services that enhance their experience

6. Ask for referrals

Referrals from trusted sources hold immense power. 92% of consumers trust referrals from people they know and respect.

• Incentivize referrals: Encourage existing customers to recommend your product or service by offering rewards.

• Make it easy to refer: Provide clear instructions and referral links for your customers.

By mastering these strategies, you can craft winning sales pitches, build strong customer relationships, and drive sustainable growth for your business.

Optimize your sales strategy using a CRM

Freshsales can help you supercharge your sales strategy. 

• Qualify the right leads

• Never miss a follow-up

• Automate mundane tasks and boost sales productivity

• Get data-driven insights for decision-making

• Organize sales processes

Your sales strategy should be updated regularly

A sales strategy is a roadmap, not a dead end. To ensure that it delivers results, regular tune-ups are essential. Here’s how:

• Analyze and adapt: Scrutinize your sales strategy across all channels. Are some tactics driving more sales than others? Maybe free blog posts aren’t converting as well as you’d hoped, while free webinar invites generate more leads.

• Optimize for growth: You’ll identify the tactics that bring in the most business by continuously evaluating and optimizing your sales strategy. This translates to maximizing your return on investment (ROI) and driving revenue growth. 

When you implement the insights and tactics explored in this guide, you equip your team with the tools they need to convert leads and close deals consistently. Remember, a successful sales strategy is an ongoing process. Continuously monitor your results, adapt to market changes, and leverage customer feedback to refine your approach. 

With dedication and this plan by your side, you’re on your way to achieving sustainable sales growth and propelling your business to new heights.