Sales Strategy / Revenue Growth

Below are a few point to review and consider with your internal team, as you go through various stages of company growth.

1. „Re-Declaration“ of Vision & Mission

Information Technology (IT) companies often develop technology platforms, with the hope that they will be accepted by customers, based on their technical features and intense development efforts. The questions, “Why are we building this platform ? ” or “What are we trying to accomplish as a company ?” often do not arise before the work and financing begin. The longer term vision of the team is forgotten or not even discussed, to determine clear achievement, measurable processes and focus. A technology platform alone is not the same as building a complete solution for a customer need. A shared vision and corporate mission are necessary to build a sustainable and growing business.

To begin the product and company development process, analyze information from team leaders to the following questions. Once these answers are clearly aligned, proceed.

• What is your vision ?
• What specific measurable goals are you working toward on an incremental basis ?
• Why are you working toward these goals as a company ?
What is the final picture from these efforts ?
• What values and principles do  your company and products reflect to the public ?

With an understood mission, next actions in corporate planning follow to build processes, for the accomplishment of measurable achievements.

2. Channel & Sales

Executives confront the following questions as they review sales operations :

• What do we need the sales team and sales channels to accomplish?
• Anticipating changes in markets, customer segments and competitors, how do we stay flexible and nimble with our sales approach ?
• Where can our company reduce selling costs ?
• How do we keep sales operations simple and effective ?

Through the continuous improvement of sales operations and implementing intelligent and focused strategies, Information Technology (IT) companies generate revenues and competitive growth.

Work with team leaders and study:

• Key account management
• Sales force competence
• Channel operations

and the required procedures, qualifications and actions necessary for an effective and 360 degree sales strategy for revenue growth.

3. Go-to-Market Tactics / Blue Ocean Strategy

When Information Technology (IT) companies are ready to launch or re-launch a product, all efforts across marketing and sales departments come into play. To reduce additional costs and prevent complications, companies should make certain that business model, customer segments and sales partner strategy comply with expected outcomes.

360 degree processes that required attention:

• Initial business model and product positioning strategy
• Marketing / Sales activities (execution, cooperation / communication and measurement of objectives, customer feedback)
• Analyzing selected market segment for profitability and growth speed

Collaboratively, review these three areas of importance to improve customer acquisition.

4. Growth

Information Technology (IT) executives often feel safe working at a consistent rate of generating revenues and gaining market share, forgetting quickly that competitors with more intelligent processes and speed can overtake their efforts, and gain new customers more quickly. How to increase the speed of growth is a priority for sustainable competitive advantage and company valuation.

Questions needing internal review :

• Does this particular business have future growth potential ?
• Where do opportunities for growth still exist ?
• How can we grow more quickly and effectively to compete ?
• Are there growth models we can study from other companies ?
• How and in what product segments (features/API) can we identify and seek growth opportunities ?
• What are the stages for completion to build a growth + business model ?

Using mathematical formulas, plus customer feedback for product feature analysis, Information Technology (IT) companies can measure what is required of people and technical resources to meet growth targets.
Based on these discoveries, processes and capabilities needing allocation and prioritization can be deployed effectively.

5. Joint Ventures Strategies

Often Information Technology (IT) companies do not have the technical skills and resources to offer the modules required for a complete solution. In particular, for accelerated customer sales and short-term survival, a market exit, or longer term revenue growth, this situation requires careful attention. Proven integration and business planning that address this specific company situation need to be understood and implemented.

To succeed, product managers and executives focus on these partnering advantages and points of concern:

• Where do potential partners offer specialized skills and capabilities ?
• Will a partnership makes us stronger and more competitive ?
• Does this integration serve as a potential company exit or merger ? (Puzzle piece and logical fit)
• What are the business objectives and “potential value” identified, to proceed with a partnership or merger ?
• What other potential partners exist to build higher value and continuous growth ?
• How many potential partners can be found and how do they differentiate themselves (value generation opportunities)
• What can we as a company accomplish quickly ? Would it be more effective and profitable to work with a few smaller partners than a larger OEM partner ?

Work with team leaders and executives to build a solid process for partner selection and growth strategy, and formulate appropriate agreements underlining the value propositions in financial terms.

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