When creating a business, the business plan cannot be effective without being followed by a commercial strategy. All the elements analyzed, and the main issues identified, in particular through a market study, it is necessary to engage in real actions according to the objectives set. Here are 5 steps to follow to achieve a relevant business strategy by a trade advertising
1. Define priorities and objectives
The development of a commercial strategy passes above all the definition of precise objectives and priorities. To do this, it is necessary to be well informed beforehand about the possibilities, market trends, and the means to achieve them.
It’s important to set both long-term and short-term goals. For example, plan to reach 100 customers in the first two weeks when you launch your business, but also plan a goal over several months, or even over the year.
2. Target an audience
Loyalty being a major issue in the commercial strategy, it must be approached according to a targeted audience. The challenge of this step is to determine the categories of potential customers and the strategic means to reach them. For example, if your company is going to deploy an activity aimed broadly at the general public. The use of any social network may be just as relevant as advertising displays in public places. If, on the contrary, it is aimed at a purely professional public. It will be necessary to favor interprofessional events, professional social networks, etc.
It may be appropriate to establish a standard profile, which is then used to consider loyalty. To do this, you can use several methods, such as “Personas” for example. Based on factual data such as age, the number of employees in a company. Or even a person’s sex, but also based on emotional data such as habits, desires. Or sensitivity to external facts, this method allows obtaining a set of elements aimed at defining a standard profile. It will be useful for later prospecting.
3. Put in place a series of means and actions to achieve the objectives
If the development of a commercial strategy inevitably implies the implementation of marketing. And commercial means, these must be clearly defined. To this end, you must be aware of several pieces of information. First of all, and according to your final objectives. It is necessary to take into account the market price, the one you envisage. But also the cost of the means of publicity and communication. If you plan to deploy a marketing campaign involving significant visuals. For example, you should find out both about the communication channels (emails, press relations. Social networks, advertising or press inserts, etc.) but also about the production of this visual (hiring. Use of an external service provider, personal achievement, a specific tool, etc.). On the other hand,
4. Follow up with tools
In practice, to follow the evolution of your commercial strategy, the implementation of a monitoring tool is essential. Of the commercial strategy through brand strategist. Questioning is sometimes necessary, but to do this you need to be able to see the shortcomings, obstacles, or errors.
It can be just a file in the form of a table from which you determine. The elements to take into account or tools such as project management software.
5. Adjust your strategy based on monitoring data
Whether the market is changing, competitors are emerging. Or your established business strategy is proving ineffective, your actions may need to be adjusted.
Do the prioritized means of communication appear less effective than expected? The target audience is not in favor of your approach? Telephone prospecting not bearing fruit. In line with your monitoring tool, all the information collected can be useful to you to improve your actions.
Whether it is a new company or a company wishing to boost its sales, there is no secret. The performance and growth of a company necessarily involve a phase of tests, observations, and adaptation as needed.