Organizations are often confronted with ambitious marketing and sales objectives and don’t know how to achieve them. You, as many of our customers are confronted with commercial strategies from head-office. Objectives are “challenging”. Corporate strategy is not contemplating country specific needs, especially when it comes to new product/service introductions.
But at the same time it is your job to align between strategy and local reality to reach your objectives. Clear priority target sectors for your product, the right go-to-market and value propositions are key. Field marketing and local sales reps need clear instructions and realistic objectives.
Objectives are measured short term; time to market and to sales teams is key. Efficient tools can be of inestimable value to build winning sales tactics.
Pragmatic tools to convert company strategy into “down to earth” and wining sales tactics
Customer-Segmentation has proven to be a simple and efficient tool to select most interesting target customer segments, dimensioning the opportunity and defining successful vertical messages. Let us share this approach in 3 simple steps:
- To start with we define the sectors we want to include into the analysis. Typically included are sectors in which the company is already successfully selling in other countries. Nevertheless this is the moment to also check on new upcoming companies or early-adopters.
- Then, we need to define the main factors driving your market; factors, which make that a target sector is more or less attractive for your product. These can be for example:
- Market size and development
- Own experience and reference projects
- Competitors presence
- Buying behaviour
- Emerging trends driving demand
As you can see parameters are selected in a way that they can be investigated from public sources like company information databases, own CRM-System, commercial experience (in other countries or with other products), competitors’ web sites, etc.
As from there the method consists in investigating the information for each driver for each sector. Once we have this information gathered you weight the different drivers according to their importance and impact. Finally you rank the sectors according to their scoring, from most attractive to least attractive. Here an example (click to amplify) :
In this very case the most attractive target sector was Finance, followed by services and Telecoms. With this simple analysis you know on which customer segments to put focus; have a sound basis to assign your sales reps, set them realistic objectives and can build your actual database to start prospecting.
Achieve quicker market traction and comply with challenging sales objectives
Does it sound simple!? Why haven’t you applied this method before? Or why did you spend lots of money on market research? It is not only simple but also highly efficient if you put some effort defining the right criteria driving the demand for your product, differentiating most attractive target sectors from lower ones.
This article shares the experience from multiple projects for Tech-Vendors confronted with the challenge to prioritize and assign limited resources to most promising sales targets and achieve a “winning sales tactics”.
If you are interested in learning more contact us via email: firstname.lastname@example.org, if you'd rather have a one on one meeting.
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