Sales Growth Framework©

Selling is the main concern of every organization. It is the biggest challenge encountered by organizations worldwide. With the increase in competition it is a dire need to withstand oneself in the market. It is among one of the difficult tasks, which needs serious measures to tackle the challenges associated with it.

We have a solution for this problem. Over a period, Faber Infinite has come up with proven framework to create, raise demand, increase sales and enable organizations to sell better.

Components Of Sales Growth Framework© By Faber Infinite:

EXTERNAL DRIVERS:

External Drivers which affect the sales include Customer Needs, Competitive Analysis and Values Delivered.

Customer Needs: Customers are very important for the growth of sales. Without them sales cannot take place. Their preferences and choices need to be taken care of while bringing any product to the market. These customer needs can further be addressed by:

Market Opportunities: This is one of the important steps to determine customer needs. We need to study the market opportunities and threats which can further help to determine our target area, the target group of people and many such factors. We should also study the possible challenges put forward by our competitors or the future challenges that would pop up. These factors greatly determine and help in analysing the market opportunities.
Sales Strategy: It’s important to create sales strategy. This is your chance to tailor your company’s products and services to fit the needs of the customer and demonstrate why your offerings are better than the competition.

Competitive Analysis: The second vital task is to analyse the competition & competitors in the market. We need to know the strengths of our competitors and our weaknesses to come out with a clear, successful strategy. Analysis of our competitors and their products include concentrating on the following:

Pricing: Pricing is one of the very essential elements which can change the game. Majority of the customers in India look at the prices before overlooking the quality of a product. Of course, quality is an important determinant, but people also tend to determine the quality by looking at the price. For instance, cheap price means poor quality and high price means good quality even though it may not stand true always. But majority of the Indian population decide to buy by the price of the product.
Packaging: Packaging mainly refers to the outer appearance which is very important. The first thing which is noticed by the customers would be the outer packaging followed by the product, provided the packaging attracts the customers. Even if a superior quality product is poorly packed it won’t lead to the sale of that product and vice versa. Thus, having an attractive packaging is as important as having a good quality product.
Promotion: Once the price and packaging are hit correctly the next step would be promotion. Proper, effective promotion through proper channels is very important to enable selling. Promotion cannot be done through any random channel. There needs to be proper channel depending upon the target area, target people, target age group and significantly also looking at the type of the product.
Distribution: This is the final step in analysing the competition of the product. Once proper promotion is done the distribution comparatively becomes easier. But again, we need to select the proper distribution channel. We must first analyse the distribution channels of the competitors but that’s not the only factor. Essentially, the type of product, its features and the target customers play a major role in determining the distribution channel of the product.

Values Delivered: Every organization has certain values associated with them. They pass it on further to their stakeholders with their products and services. The values delivered by a product includes its benefits, advantages and features:

Benefits: What additional benefits would a product deliver along with its utility? This is the first question that would pop up in the minds of the customer while purchasing a product. If our product fails to answer this question the possibility of the product getting rejected is very high.
Advantages: Besides benefits the customer will also look at the advantages of buying your product over other products available in market.
Features: Features may refer to anything associated with a product. It could be the color, size, shape, weight or any such thing that would be a part of the product. Features can greatly influence the sale of a product in a positive or a negative way.

INTERNAL DRIVERS:

Internal factors which influence sales include Team SWOT, Team Alignment and Sales Management.

Team SWOT: Among the internal factors, the most important factors include the team and teamwork. A team can make it or break it. Thus, it’s important to learn the Strengths, Weakness, Opportunities and Threats of the team working for the same.

Assessment: The first step is assessing the strengths and weaknesses of the employees. This can help find out the skills they lack in, the areas where they can perform better, the areas where they need training and how much they can contribute to a task.
Sales Training: Once the employee fears, weakness and strengths are identified they can be trained. They can be provided with proper training which can enable them to sell better.
Recruitment: If the existing employees are not able to cope up with all the required tasks and the skills new recruitment should be done. This can contribute better, and they can help to increase the sales.

Team Alignment: Team Alignment is extremely important as it can further help to clear out the confusion of who’s handling what and how. There will be no confusion regarding the same. There will be clarity of roles and responsibility.

Sales Team Structure: The structure of the sales team is the most important factor of sales growth strategy. Structure is the framework that holds the strategy. It’s the core to executing a strategy. Structure makes sure you have the right pieces in place. Without a solid structure your strategy is waste. The key is to make sure your structure supports your strategic efforts.
Alignment of Goals: Organizational goals should be properly aligned. Employees should be involved in goal setting and planning process. This would make them aware along with providing motivation to perform better as there’s a feel-good factor associated when the employees are involved in important decision-making processes.
PMS – Rewards & Recognition: Rewards and recognition are key strategies to boost sales performance and hence, generate increased revenue. We help you to devise a performance management system and then design the rewards and recognition plan.
• Attitude of Sales Team: The attitude of sales team greatly influences its working and success. A positive attitude leads to a positive result whereas a negative, rude attitude will worsen the scenario.

Sales Management: Sales Management refers to managing the overall sales process including all the aspects such as technical, financial, etc. All these factors need to be taken care of for increasing the sales.

Financial Planning: Planning the financials correctly is very important. It is not only important for sales but for every function. Allocation of adequate funds and resources is of extremely important for the growth of sales thereby increasing revenue.
Logistics Planning: This involves the end to end supply chain planning so that the product reaches the right place at the right time.
Customer Service and Retention: This refers to the activities and actions companies and organizations take to reduce the number of customer defections. The goal of the program is to help companies retain as many customers as possible, often through customer loyalty and brand loyalty initiatives.
Measure and Improve: Measure the overall sales performance of the organization and the team for the entire year and take measures to improve the areas which lacked proper attention.