Develop sales strategies and plans
Overview
This standard is about developing sales strategies and plans. The sales strategies and plans must take full account of the organisational objectives and ethical principles together with legal, regulatory, ethical requirements and social responsibilities. When developing sales strategies and plans, you need to take into account issues which may impact upon these, set clear objectives and targets for teams and prepare staff for any changes. This standard is for senior sales professionals who develop sales strategies and plans.
Performance criteria
You must be able to:
1. analyse the roles and activities required for developing sales strategies and plans
2. carry out customer segmentation analysis to identify key customer groups and segments to target to maximise sales performance
3. research customer purchasing preferences to determine appropriate sales channels
4. take full account of legal, ethical and regulatory requirements and social responsibilities in relation to sales strategies and plans
5. set sales objectives in line with organisational business strategies
6. analyse the structure of the sales teams to evaluate their capacity to meet specified sales targets
7. investigate sales procedures for cost effectiveness
8. make appropriate recommendations for improvements in sales strategies and plans based on results of investigation
9. determine human, physical and financial resource requirements for the sales process and recommend changes, where appropriate
10. finalise development of sales strategies and plans in line with legal, ethical and regulatory requirements and social responsibilities
11. monitor and evaluate performance of the sales strategies and plans using specified targets and criteria
12. communicate all changes in strategies and plans to key stakeholders
13. note all areas of compliance and non-compliance with legal, ethical and regulatory sales requirements and social responsibilities
14. identify reasons for not meeting expected sales performance and adjust the policies and procedures to reduce the likelihood of failures in the future
15. correct any failures to meet the legal, ethical and regulatory sales requirements and social responsibilities
16. review sales strategies and plans in line with legal, ethical and regulatory sales requirements and social responsibilities
Knowledge and Understanding
You need to know and understand:
1. the current legal, ethical and regulatory sales requirements and social responsibilities for the industry or sector
2. the organisation's business and marketing strategies, objectives and plans
3. how the marketing and sales functions relate to each other and contribute to business strategy
4. the process for segmentation analysis that includes demographic, geographical, lifestyle and behavioural considerations
5. the relevant tools required to undertake a gap analysis using PESTLE and SWOT techniques
6. the Specific, Measurable, Action-based, Realistic, Time-bound (SMART) approach to setting sales objectives
7. the different types of sales organisational structures, including geographic, product based, customer-based or brand-based
8. the variety of distribution (go to market) channels
9. the features of procurement that affect decision-making about distribution channels
10. the variety of resources, such as human, finance and technology resources
11. the relevant monitoring tools for evaluation of sales performance
12. the methods for consulting and communicating with the sales team about strategy development
13. the importance of having an ethical and value-based approach to governance and how to put this into practice
14. the procedures to follow if the organisation does not meet the legal, ethical and regulatory sales requirements and social responsibilities
Scope/range
Scope Performance
Scope Knowledge
Values
Behaviours
Skills
Glossary
PESTLE analysis studies the key external factors (Political, Economic, Sociological, Technological, Legal and Environmental) that influence an organisation. It can be used in a range of different scenarios, and can guide people professionals and senior managers in strategic decision-making. (Source: CIPD)
SWOT analysis is a planning tool which seeks to identify the Strengths, Weaknesses, Opportunities and Threats involved in a project or organisation. It's a framework for matching an organisation's goals, programmes and capacities to the environment in which it operates. (Source: CIPD)
SMART objectives that are Specific, Measurable, Action-based, Realistic, Time bound is the way to set what an individual, team or organisation are aiming to achieve.