sales growth business plan

We use essential cookies to make Venngage work. By clicking “Accept All Cookies”, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts.

Manage Cookies

Cookies and similar technologies collect certain information about how you’re using our website. Some of them are essential, and without them you wouldn’t be able to use Venngage. But others are optional, and you get to choose whether we use them or not.

Strictly Necessary Cookies

These cookies are always on, as they’re essential for making Venngage work, and making it safe. Without these cookies, services you’ve asked for can’t be provided.

Show cookie providers

• Google Login

Functionality Cookies

These cookies help us provide enhanced functionality and personalisation, and remember your settings. They may be set by us or by third party providers.

Performance Cookies

These cookies help us analyze how many people are using Venngage, where they come from and how they're using it. If you opt out of these cookies, we can’t get feedback to make Venngage better for you and all our users.

• Google Analytics

Targeting Cookies

These cookies are set by our advertising partners to track your activity and show you relevant Venngage ads on other sites as you browse the internet.

• Google Tag Manager
• Infographics
• Daily Infographics
• Template Lists
• Graphic Design
• Graphs and Charts
• Data Visualization
• Human Resources
• Beginner Guides

Blog Business How to Create a Sales Plan: Strategy, Examples and Templates

How to Create a Sales Plan: Strategy, Examples and Templates

Written by: Aditya Rana Mar 25, 2024

The difference between a company struggling to drive sales and one that’s hitting home runs often boils down to a well-crafted sales plan.

Without knowing how to write a sales plan , your sales reps will lack vision, not understand the market, and be ineffective at engaging potential customers.

Most businesses fail in sales planning because they don’t focus on their unique value. If you’re struggling with sales, here’s what you need to do: define your goal(s), create customer personas, and create an action plan for success.

One of the best ways to organize this information in one place is to use sales planning templates . In this post, I’ll show you how to write a sales plan (…with plenty of template examples included of course!).

Click to jump ahead:

What is a sales plan?

Benefits of a sales plan, how to create a sales plan, sales plan example, sales plan templates.

A sales plan is a strategic document that outlines how a business plans to convert leads into sales. It typically details the target market, customer profile, and actionable steps that must be taken to achieve revenue targets.

Here’s a great example of a sales plan that includes all these elements neatly packed into one document.

Every company needs a sales plan, but have you ever wondered why?

Why should businesses invest time and resources in creating sales plan when they could…well…be focusing on sales?

Sales plans are worth it because they tell sales employees what to do.

Without a sales plan, your sales efforts will end up becoming a disorganized mess. Let’s explore the benefits of sales plans in detail.

Help you identify and target the right market

A sales plan helps you figure out the target market that’s most likely to be responsive to your messaging.

I mean do you really want to waste your time trying to sell to someone who has no need for your product or isn’t interested in your offering?

But if you know who your customer is, you can target their pain points.

Help you set goals

All great sales plans require you to set goals that are actually attainable and budgeted for.

Without goals, your sales team essentially operates in the dark unsure of what success looks like and how to achieve it.

One of the best ways to set goals is by conducting a SWOT analysis (strengths, weaknesses, opportunities, and threats) to understand the market landscape.

Help you forecast sales

Since sales plans require you to study historical sales data , you have the ability to understand trends, seasonality, and customer buying patterns.

This information can be used to accurately forecast future sales performance.

And when you chart it out visually like in this example, you can make data-driven decisions to optimize your sales strategy.

Help you identify risks

Because sales plans require you to study the market, you’ll be able to uncover risks such as market saturation, competitors, and shifting customer needs.

With this knowledge, you have the ability to be flexible in your approach.

Besides market risks, sales plans also help you pinpoint risks within your company such as a lack of qualified leads or unclear communication between departments.

Improve customer service

It may sound counterintuitive but creating a sales plan also actually improves your customer service.

Researching and trying to understand customer needs means new insights that you can share with the customer service team which allows them to tailor their approach.

You’ll also be able to train sales service reps to anticipate questions and concerns so that they can communicate effectively.

Increases sales efficiency

Sales plans help standardize sales tactics and ensure sales reps follow the same best practices to reduce inconsistencies and improve effectiveness.

One of the best ways to standardize practices is to use a flowchart like in this example to make sure everyone knows what to do when facing a decision.

Increases your profits

Sales plans generally guarantee a boost in profits because it allows sales team to laser-focus on high-value opportunities instead of being headless chickens.

Reducing wasted effort and a higher frequency of closed deals is a win in my book any day.

One of the best ways to measure changes in profits is to use a simple template to review performance like in this example.

Help you understand customer needs

Contrary to what you might think, sales plans aren’t just about selling but also about understanding customers at a deeper level.

The process of creating a plan forces you to analyze customer data, buying habits, and pain points, all of which will help you understand what makes your customers tick and build trust and loyalty.

Here’s a great example of a customer persona you can edit to include in your sales plan.

A sales plan is a document that helps you maximize profitability by identifying valuable segments and outlining strategies to influence customer behavior.

Common elements most sales plans include:

• Sales goals : Information on revenue, market share, and more.
• Sales strategy: Information on how to reach potential customers and convert them.
• Target audience: Information on ideal customers and their needs.
• Metrics : Methods to track progress.
• Resources :  Tools, budget, and personnel needed to achieve sales goals.

Let’s take an in-depth look at how to create a sales plan.

( Note : You don’t need to include each of these points in your sales plan but I recommend you cover most of them to build a plan that’s well-rounded).

Define your business mission and positioning

Before you jump into tactics, build a strong foundation by defining your company’s mission and positioning.

Here’s why this step is a must-do:

• Your mission statement defines your company’s purpose and values and gives your sales team and customers something to relate to.
• Your positioning statement defines how your product or service meets a specific need and sets you apart from the competition.

Trying to sell without any alignment to company values will lead to inconsistent messaging and damage your brand reputation.

Here’s a great example of a sales plan template you can customize with your own brand’s mission and positioning statements.

Define your target market

Unless you think you can sell to every person possible, you’ll need to define your ideal target market.

Study your customer base and ask questions like: do most of the customers belong to a specific industry? Or do they all face the same pain point?

Also, keep in mind that target market can change over time due to changes in your product, pricing, or factors out of your control, so it’s important to review and update your target market frequently.

Understand your target customers

This step often gets mixed with the previous one, so pay close attention.

Your target customers are those who your business wants to target because they’re most likely to make a purchase.

You can figure out who your target customers are by creating customer profiles by breaking down your target market into smaller groups based on geography, behavior, demography, and more.

Here’s a great sales plan template where you can edit in your own customer persona.

When making your buyer personas, make sure you answer the following questions.

• Motivations and challenges:  What are customer pain points? What drives purchasing decisions?
• Behaviors and preferences:  How do customers research products? What communication channels do they prefer?
• Goals and aspirations:  What are your prospective customers trying to achieve? How can your product or service help them get there?

Define sales objectives and goals

Setting clear, measurable goals gives you a method to measure performance of your sales strategies.

More importantly though, they give your sales team targets to aim for which then allows them to work in a structured and focused manner.

Your sale goals should be specific, measurable, achievable, relevant, and time-bound (SMART). This is to make sure they’re realistically achievable within a set timeframe.

Here’s a comparison of good sales goal setting vs a bad one.

• ✅Drive $100,000 in sales of product X by Y date using Z tactics
• ❌ Increase overall sales in each product line

You can organize this information using a template like in this example, especially if you have multiple product lines.

Define your value proposition

Your value proposition is a concise statement that explains why a customer should choose your product or service over the competition.

Here’s an example of a value statement:

“For busy small business owners, we provide a user-friendly accounting software that saves you time and money, allowing you to focus on growing your business.”

Here are some tips on defining your value proposition:

• Identify customer needs:  What are the core challenges and pain points your ideal customer faces? Understanding their needs allows you to position your offering as the solution.
• Highlight your unique benefits:  What sets your product or service apart? Focus on benefits you deliver that address the customer’s needs.
• Quantify the value:  When possible, quantify the value you offer. Can you demonstrate a cost savings, increased efficiency, or improved outcomes?

Map out the customer journey

Unless you’re extremely lucky, no one is going to purchase from you during the first interaction.

That’s why it’s crucial for you to know the steps a customer takes from initial awareness to purchase. Mapping out their journey allows you to personalize messaging and influence behavior.

Here are some tips on how to create a customer journey map:

• Identify the stages:  Break down the journey into distinct stages, such as awareness, consideration, decision, and post-purchase.
• Define touchpoints: Pinpoint the different touchpoints where your customer interacts with your brand (example: website, social media, customer reviews).
• Understand customer needs at each stage: What information are they looking for at each stage? What are their concerns and motivations?
• Identify opportunities to engage:  Identify opportunities to engage with your potential customers and move them along the buying journey.

Want some help creating customer journeys?

This customer journey map template is an excellent way to bring customer journeys to life.

Gather existing sales data

This step involves collecting and analyzing all available data on past sales performance.

This data is critical in helping you spot trends, patterns, and areas for improvement in your sales operations.

Perform sales forecasting

Sales forecasting is the practice of estimating future sales which can be presented as a report highlighting expected sales volume weekly, monthly, quarterly, or annually.

Though not always 100% accurate, sales forecasting is key to writing sales plans because it’ll provide you with a clear picture of the ground reality which leads to better decisions on budgeting.

Here’s a template you can use to perform sales forecasting to makes the sales planning process effective.

Define your sales KPIs

KPIs are a fancy way of saying that you need to set metrics to track effectiveness of your sales strategy and team’s performance.

Some example KPIs you can include in sales plans are:

• Number of sales
• Sales revenue
• Average deal size

This sales report template is a great example of how you can include KPIs in your meetings to test performance and adjust strategy.

Identify gaps in the sales process

This step is all about analyzing your current sales process to figure out gaps and/or potential obstacles preventing you from achieving goals.

When you identify a gap, brainstorm potential solutions so that you can create a specific action plan.

Understand the sales stages

When writing a sales plan, make sure you cover each stage of the sales cycle. If you’re unsure of what the sales stages are, here’s a quick recap.

Prospecting

This is the foundation of the sales process where you identify potential customers who might be a good fit for your product or service.

Preparation

Once you have a list of prospects, you need to research their needs, challenges, and buying habits.

This is all about how you contact and communicate with prospects.

Presentation

This section is your opportunity to showcase the value proposition of your product or service. Tailor your presentation to address the prospect’s specific needs and demonstrate how your offering can solve their problems.

Handling objections

Identify common objections your sales team might encounter related to price, features, competition, or need. Develop clear and concise responses to address these concerns proactively.

Equip your sales team with effective closing techniques to secure commitments from prospects who are interested but might hesitate.

Plan your follow-up strategy based on the prospect’s decision timeline and the stage of the sales cycle.

Organize the sales team

Organizing the sales team entails defining roles and responsibilities clearly to cover all aspects of the sales process effectively.

This might involve segmenting the team based on product lines, customer segments, or territories.

Here’s an example of how it might look:

Sarah — Sales Director — will lead the sales team, set overall strategy, goals and direction. Michael and Jessica — Business Development Executives — will focus on prospecting new leads. They will research potential customers, identify those who might be a good fit for the product, and qualify leads by gathering information and assessing their needs. William — Sales Development Manager — will manage the business development executives and ensuring they follow best practices. Chris and Lisa — Account Executives — will handle qualified leads. They build relationships with potential customers, present product demos, address objections, and close deals.

Using an org chart like in this example is a great way to visualize this information.

Outline the use of sales tools

Sales tools play a crucial role in streamlining the sales process and enhancing productivity.

Make sure you outline the tools your team will use, how they fit into different stages of the sales process, and any training required to maximize their utility.

This ensures that your team has the resources needed to engage effectively with prospects and customers.

Set the budget

Setting the budget involves allocating resources efficiently across various sales activities to achieve your objectives without overspending.

This includes expenses related to personnel, sales tools, marketing initiatives, travel, and customer entertainment.

A well-planned budget balances investment in growth opportunities with the overall financial health of the business.

Create a sales strategy and action plan

Now that you’ve laid the groundwork of what you want to achieve and how you plan to achieve it, it’s time to bring it all together into a single view.

Create an action plan which not includes your strategy but also concrete steps.

Your action plan should outlines specific activities for each stage of the sales funnel from prospecting (lead generation channels) to closing (structured process and follow-up strategy with timelines) and everything in between.

Performance and results measurement

Last but not least, your sales plan should present a clear and quantifiable means to track the effectiveness of sales activities.

How are you going to measure outcomes against predefined targets?

Performance measurement is key because it builds accountability and allows you to always have a pulse on customer behavior, preferences, and trends that’ll help you make decisions based on data.

If you’ve made it this far, give yourself a pat! I’ve covered A LOT on elements that you can include in a sales plan.

However, in most cases, you don’t always need to go that in-depth and instead should aim for brevity so that anyone in your team can stay up-to-date without having to worry about the nitty gritty details.

Here’s a sales plan example that’s brief but highly effective. It includes a summary of all you need in one document, a target market analysis, a customer profile, and an action plan.

Want even more sales plan templates for design inspiration or to customize and make your own?

This 30-60-90 day sales plan provides a great way to organize goals, priorities, performance goals, and metrics of success over three three timeframes: first 30 days, first 60 days, and first 90 days.

This sales plan is structured around key components that drive the sales process: objectives, strategies, tactics, and key metrics. It emphasizes a multi-channel approach to sales,, with a strong focus on measuring performance through metrics.

This sales roadmap is a great way to visualize activities such as defining strategy and generating leads to more advanced steps.

Conclusion: Save time on designing and updating sales plans and focus on growing your business with Venngage templates

Though there’s no secret formula for effective sales plan design, it’s good practice to include the basics or information on the target market, a customer persona, and a strategy on how you plan to sell.

What you definitely shouldn’t do is write a sales plan and then never look at it again.

And trust me, I know how time-consuming and frustrating it can be to edit your sales plan especially if you don’t have design skills. One small change might make the icons or numbers go all out of whack.

That’s why I recommend customizing our sales plan templates instead so that you can focus your energy on strategy.

Discover popular designs

Brochure maker

White paper online

Newsletter creator

Flyer maker

Timeline maker

Letterhead maker

Mind map maker

Ebook maker

22 Best Sales Strategies, Plans, & Initiatives for Success [Templates]

Discover sales strategy examples, templates, and plans used by top sales teams worldwide.

FREE SALES PLAN TEMPLATE

Outline your company's sales strategy in one simple, coherent plan.

Updated: 03/07/24

Published: 03/07/24

A strong sales strategy plan creates the foundation for a cohesive and successful sales organization.

Sales strategies and initiatives also align salespeople on shared goals and empower them to do their best work — keeping them happy and successful, too.

In this guide, I’ll dig into some sales strategies and initiatives that I’ve found can help you generate more leads and close more deals. But first, let’s define what a sales strategy is.

Table of Contents

What is a sales strategy?

Why is a sales strategy important, the most effective sales strategies, sales strategy types, sales planning: how to build a sales strategy plan, sales initiatives, sales strategy examples from successful sales teams.

A sales strategy is a set of decisions, actions, and goals that inform how your sales team positions the organization and its products to close new customers. It acts as a guide for sales reps to follow, with clear goals for sales processes, product positioning, and competitive analysis.

A clear sales strategy serves as a map for the growth of your business. Your sales strategy is key to future planning, problem-solving, goal-setting, and management.

An effective sales strategy can help you:

• Give your team direction and focus. Strategic clarity can help your sales reps and managers understand which goals and activities to prioritize. This can lead to improved productivity and outcomes.
• Ensure consistent messaging. Your sales strategy can help your team deliver a consistent message to prospects, partners, and customers. This can increase both trust and effectiveness.
• Optimize opportunities. Strong sales strategies will help you target the right prospects and customize your approach. This can help your team make the most of every sales opportunity.
• Improve resource allocation. Your sales strategy outlines your priorities and resources. In turn, this can help your sales team use their time, effort, and other resources more efficiently, boosting your team’s ability to focus on high-potential deals.

Next, let’s cover some of the sales strategies that I’ve found can be most effective.

50+ for Social Selling on LinkedIn and Beyond

Use this guide to improve your social selling efforts and close more deals from platforms like...

You're all set!

Click this link to access this resource at any time.

2. Become a thought leader.

Sharing your advice, tried-and-true best practices, and niche expertise are some of the most long-lasting ways to build your personal brand and lend more credibility to your organization. After all, nobody wants to feel like they’re being sold to. Instead, it’s better to help people by offering solutions to their problems.

That’s what thought leaders do. Indeed, a recent report found that “Thought leadership is one of the most effective tools an organization can use to demonstrate its value to customers during a tough economy — even more so than traditional advertising or product marketing, according to B2B buyers.”

According to the study, 61% of decision-makers believed that thought leadership could be moderately or very effective in demonstrating the value of a company’s products. Moreover, more than half of C-suite executives in the study believed that thought leadership has a greater impact on purchases during an economic downturn, making this an even more important element of a sales strategy in today’s uncertain economic times.

So what’s the catch?

Not all thought leadership content is created equal.

When done right, thought leadership can have a huge positive impact, but poor thought leadership can be devastating to a company’s sales goals. So, before you plan a spree of LinkedIn posts to drive leads, consider who your audience is, what they need to know, and how your organization can help.

Also, it may not hurt to have a second set of eyes from your marketing, communication, and PR departments review your plan first to make sure everything is on-brand (and trackable!).

3. Prioritize inbound sales calls as hot leads.

There’s an age-old question in sales: “Should I discuss product pricing with a prospect on the first sales call?” The honest answer is: It depends.

You and your sales team know your process better than anyone. So take it from me — if you’ve seen success with pitching with pricing first, last, or somewhere in between, stick with what’s working for you.

But beyond that, your team should always prioritize the prospects who come to you. These hot leads are definitely interested in what you have to sell, and before they make a decision, they want to get the information they need about how it will benefit them.

By prioritizing talking to these prospects as soon as they call in or send an email, you’re putting your best foot forward and showing them that you’re helpful, solutions-oriented, and considerate of their time. And if that means closing a deal on the first call, there’s nothing wrong with that — as long as the customer has the information they need to make an informed decision.

4. Properly research and qualify prospects.

I’ve personally discovered that even the strongest sales strategy can’t compensate for targeting the wrong customers. To ensure your team is selling to the right type of customer, encourage reps to research and qualify prospects before attempting to discuss your product. Indeed, throughout my career, I’ve found that more work on the front end can lead to smoother closing conversations later on.

Outline the criteria a prospect needs to meet to be qualified as a high-probability potential customer. These criteria will depend on your unique business and target audience, but they should generally be based on a prospect’s engagement history and demographics.

Free Guide: 101 Sales Qualification Questions

101 Questions to Ask Contacts When Qualifying, Closing, Negotiating, and Upselling.

• Budget Questions
• Business Impact Questions
• Competitor Questions

5. Implement a free trial.

Offering a free trial or freemium version of your product can be a highly effective way to convert prospects. In fact, HubSpot’s sales strategy report found that 76% of sales professionals feel that free trials are effective in converting prospects into paying customers, while 69% of professionals believe that freemium offerings are effective.

Keeping a list of proven, go-to closing techniques will help salespeople routinely win deals. Some of my favorite techniques include the ‘now or never close’ — i.e., “If you commit now, I can get you a 20% discount” — or the ‘question close,’ i.e., “In your opinion, does what I am offering solve your problem?”

Free Sales Closing Guide

An easy-to-use sales closing guide with three tactics you can use right away.

• Using an ROI calculator for your prospects
• How to ask confirmation questions
• Sales question templates you can use today

To further improve your closing techniques and learn to close deals with confidence, check out this free, downloadable Sales Closing Guide .

11. Nurture existing accounts for future selling opportunities.

Once a deal is done, there’s no need for a sales strategy, right? Wrong.

Account management is an incredibly important part of the sales process, as this is how you foster loyal, happy customers and identify cross-selling and upselling opportunities.

So, after your sales team sees success with its sales strategy, it’s vital to form a partnership between the sales team and customer service/success teams.

Remember: Ensuring customers’ continued satisfaction with your product or service will make them more likely to do business with your company again. You may even inspire them to advocate for it proactively.

Don't forget to share this post!

Related articles.

Company Growth Strategy: 7 Key Steps for Business Growth & Expansion

9 Bad Sales Habits (& How to Break Them In 2024), According to Sales Leaders

9 Key Social Selling Tips, According to Experts

7 Social Selling Trends to Leverage This Year [New Data]

How Do Buyers Prefer to Interact With Sales Reps? [New Data]

7 Sales Tips You Need to Know For 2024 [Expert Insights]

What is Sales Planning? How to Create a Sales Plan

Sales Tech: What Is It + What Does Your Team Really Need?

10 Key Sales Challenges for 2024 [+How You Can Overcome Them]

The Top Sales Trends of 2024 & How To Leverage Them [New Data + Expert Tips]

All fields are required.

Ready to up your game? Subscribe now.

Create a Sales Plan That Actually Works (Tips + Template)

• January 21, 2021

True success always starts with a plan. And for sales success, nothing beats a strategic sales plan.

Designed specifically to help your sales team drive more sales, a sales plan can show you where you’re at, where you want to be, and even more important, how to get there.

The question, of course, is how to create a sales plan that actually impacts sales. Keep reading for tips and a template to quickly and confidently create a strategic sales plan for your business.

Table of Contents

What is a sales plan, what is included in a sales plan, sales plan examples: there’s no one right way, the benefits of a sales plan, how to write a sales plan, 7 tips to help you create a sales plan, sales strategy template, selling your sales plan, final remarks.

A sales plan is a strategy document that lays out a company’s plan for improving sales results in a specified time period. A sales plan makes it possible for everyone on the sales team to see the big picture, share the same overall objectives, and work the same plan to achieve them.

It usually includes:

• Specific revenue and performance goals for a given period
• The strategies for achieving them
• The resources and activities required to carry out those strategies

A sales plan covers a lot of important aspects of business growth: revenue goals, selling methods and metrics, target customers, current sales force capabilities, and more.

Specifically, it covers 9 pieces of strategic information.

1. Executive Summary and Scope of The Sales Plan

This section gives a short summary of the document, focusing on goals and the strategies to achieve them. It also states the specific period and other parameters covered by the plan.

2. Business Goals and Revenue Targets

This section clearly establishes revenue targets and may include associated business goals (e.g., optimize lifecycle value through customer success programs, etc). Classifying revenue figures based on different categories (such as line and territory) helps clarify the document.

3. Review of Prior Period Performance

This section presents a recap of the prior period’s performance, identifying mistakes as well as decisive actions that led to a positive outcome. The overarching goal is to optimize the sales plan by adopting inputs and techniques that work.

4. Market and Industry Conditions

This section provides a summary of the market trends that have a high likelihood of influencing sales performance.

5. Strategies, Methodologies, and Tactics

This section recommends the best selling techniques, communication sequences, and playbooks for the specific company.

6. Customer Segments

This section cites all the potential revenue-generating, omnichannel opportunities available for the brand, such as the following:

• Cross-sells
• New Prospects
• New Segments

The document should describe new segments of the addressable market when they arise.

7. Team Capabilities, Resources, and Upgrades

This section provides a summary and describes the current state of all production inputs (human resources, tech software, specialized sales team, etc.,) required to process and close sales details.

8. Action Plan For Teams and Individuals

This section assigns tasks, activities, and responsibilities to different teams and individuals. Tasks include prospecting activities, meeting appointments, and product demos/presentations.

9. Performance Benchmarks & Monitoring

This section lays out performance metrics to track the systems and processes that help monitor these metrics.

What usually comes to mind when you think about sales plans?

If you’re like most people, it’s the annual sales plan or weekly sales plan — broad strategic and tactical documents mapping out the plan for everything sales-related.

But there are as many different types of sales plans as there are needs for a sales plan.

We’ll go over a few sales plan examples to get you started in the right direction.

30-60-90-day Sales Plan

There’s the 30-60-90-day sales plan. This is designed to help a new salesperson or sales manager get up to speed quickly in their first quarter on the job. The plan includes milestones they’d need to achieve at the 30th, 60th, and 90th day of their ramp-up.

Generally, the  30-60-90-day sales plan  can be broken down into 3 sections:

Day 1 to 30: 

Learn and understand everything you can about a company from their processes, customers, products, the competition to procedures.

Day 31 to 60:

Evaluate and put your plan into action. Analyze their current processes and assess changes.

Day 61 to 90:

Optimize and make the plan better. It is time to take action. Initiate an action plan. Implement any new strategies and procedures you’ve come up with.

Sales Plan For Specific Sales

A sales process involves using different tactics to approach and convert a prospect into a paying customer.

Another type of sales plan you’ll see a lot is an individual sales plan for specific sales tactics, such as prescribed call sequences,  email follow-up  frequency, and meeting appointments. This type of plan is similar to an annual/weekly sales plan, but it focuses on measuring and improving results for just one goal or task.

Territory Sales Plan

Meanwhile, sales managers who oversee a geo-location or region often use territory sales plans to give sales directors and VPs more visibility into their sales efforts.

This is a workable plan used to target the right customers and implement goals to increase the income generated and sales over time.

A good territory sales plan will:

• Make your team more productive
• Reduce operational costs
• Increase the number of generated sales
• Improve your customer coverage
• Improve working relationships between clients and managers

Note: It is essential to work on your territory sales plan and avoid making constant changes. Unnecessary changes can tamper with your productivity and your ‘territory’ in general.

Sales Training Plan

And there are sales plans for every area of sales. Sales Enablement might have a sales training plan, for example, and  Revenue Ops  might have a sales compensation plan.

A sales training plan can be used as a roadmap for different sales training programs. It can be grouped according to positions held in an organization, assets, sales record etc.

A sales compensation plan is an umbrella for base salary, incentives and commission that make up a sales representative earnings.

Therefore, you can schedule a sales training plan to talk to your sales team about the importance of a sales compensation plan and how they can use it to increase revenue and drive performance.

Sales Budget Plan

Lastly, a sales budget plan gives you a  sales forecast  for a given period based on factors that could impact revenue — like industry trends and entry to a new market segment. Similar to a traditional sales plan, they cover the staff, tools, marketing campaigns, and other resources needed to generate the target revenue.

A good sales budget plan  should include the following:

Sales forecasting: 

The process of estimating future sales by predicting the number of units a salesperson or team can sell over a certain period, i.e. week, month, year, etc.

Anticipated expenses: 

Include the number of costs your team is likely going to incur. Remember to have even the smallest expenses to estimate the average sales.

Expect the unexpected: 

Always leave room for unforeseen circumstances in your sales budget. For example, new packaging expenses, new competitive market strategies etc.

A sales plan does deliver side benefits (such as promoting discipline and diligence), but it’s really about making sure your sales don’t dry up over time. Which means it’s not optional.

The reality is this: Most of us aren’t planners. We talk a good game, but nothing happens until we’re accountable.

Without a written plan, it’s just talk.

So the first benefit of a sales plan is that it helps you execute on all your best ideas. But that’s not all. A good sales plan will also help you:

• Keep your sales team on the same page, aiming for the same target and focusing on the same priorities.
• Clarify your goals and revenue objectives for a given period.
• Give your team direction, focus, and purpose.
• Adopt a unified set of strategies and playbooks to reach your business and revenue goals.
• Know what your team capabilities are and be able to isolate your needs, from tools to talent and other resources.
• Inspire and  motivate  stakeholders.
• Track your progress and optimize performance over time.

A sales plan is a pretty straightforward document. It doesn’t need to be written in a formal language or pass your compliance review. It just needs to outline your plans for the coming period, whether that’s a year, a quarter, or a month.

While there are 9 sections in the sales plan template, much of the document simply validates your ideas. The most important pieces of information are:

1. Your goals

Setting smart goals for you and your team  is an essential part of creating a sales plan. I believe the biggest mistake you can make when setting goals is solely focusing on numbers.

Smart sales goals should be actively focused on. If it helps, use goal-setting and planning frameworks such as SMART (Specific, Measurable, Achievable, Relevant, Time-bound). Create goals that stretch your capabilities, but that seems doable based on your new strategy.

2. Your SWOT analysis

SWOT — short for Strengths, Weaknesses, Opportunities, and Threats — is one of the best frameworks for analyzing your sales team’s strengths, weaknesses, opportunities, and strengths. It helps you to build a bulletproof wall around your plan.

You’ll be able to address what you’re lacking, the areas that need improvement, identify your USP (Unique Selling Point),  come up with Value-Based Selling , and your most vital points and how you can exploit them to your advantage.

3. Your strategy

Your sales strategy should be documented to help position your products and services to differentiate your solution from competitors.

A good strategy will help you address your customers’ needs in every stage of your sales plan. For better sales, you can balance  inbound and outbound sales strategies  for even higher sales.

4. Your tactics

Be aware, though, it’s not just a wish list or a collection of ideas. Your sales plan should be based on actual field data and only use benchmarks and quantities that are measurable. Be clear. Be specific. Be actionable.

Which brings me to another point: A good sales plan is realistic.

It’s fine to have a 5-year goal of hitting $10B. But what about now? Figure out exactly what your current numbers are, and set your targets based on those numbers.

I already mentioned that your sales plan doesn’t have to be a formal document. But it does need to be clearly written, so all team members and stakeholders understand the plan.

Tip #1: Base it on in-depth and up-to-date research

You need relevant  statistics  and trends in your niche, industry, and ideal customers. Remember, markets and customers are in a constant state of flux. There’s nothing worse than stubbornly chasing prospects who aren’t a good fit anymore while ignoring entire market segments that show a rising demand for your solutions.

Tip #2: Use data and statistics

Use the data from your in-depth research to identify problem areas, find points of opportunity in your sales process, and validate your assumptions and ideas.

You can also use the data to come up with accurate metrics and figures to help predict your sales plan’s outcome.

Tip #3: Verify your facts

Accuracy matters!

Don’t rush! Facts and figures are essential, especially to stakeholders. One simple mistake and your entire plan come tumbling down.

Ensure you take time to review your facts, figures, and forecasts before finalizing the document.

Tip #4: Get tactical

Break the overall sales action plan into tactical plans for individual areas of sales:

• SDRs and account executives
• Sales operations
• Sales enablement
• Customer success

This may require collaboration with  cross-functional teams  such as marketing, customer support, and product teams.

Tip #5: Use Historical Performance Data

In sales, you can use the past to dictate the future. Historical data will help you set targets for the current period. For example, what were your previous revenue targets? Did you hit them? Why or why not? This information can help you set achievable goals for your current sales plan and know the mistakes to avoid.

Tip #6: List The Tracking Methods You’ll Use

Highlight the tracking methods you’ll use to keep your plan moving forward. That includes performance metrics, monitoring techniques, software, tools, and  selling strategies  for your business model.

Tip #7: Build a Strong Case For Your Proposed Budget

Stakeholders and superiors are impressed with cold-hard facts. Therefore, having a strong detailed case for your budget will help your sales plan smoothly sail through.

Not only will you outline your plans for the coming period for your budget, but you’ll also need to detail the costs. Be sure to include an ROI analysis for any new tools or talent you think you’ll need.

Are you ready to write your own sales strategy? Here is a sales plan template to help you get started. Here’s how to use the sales plan template to make it useful to you:

Start by using the Sales Plan Template we’ll give you in the next section. Just follow the prompts in the template, so you know what information is needed in each section. Don’t try to be fancy. Use simple language. Focus on being specific and clear.

Then share information in whatever format works best. That may be text paragraphs, tables, lists, charts, graphics, or screenshots. You can also adapt it as needed to suit your business, your sales team, and your needs.

A sales plan should contain the following sections:

1. Executive Summary

This is your opening ‘statement’. It is a formal summary that sum ups the contents of your strategy.

When writing your executive summary , keep it short, and precise. It should be one page or two. Ensure it gives an overview of what is included in your plan. It should talk about:

• The strategies you’ll implement to achieve your goals
• The time-frame you expect to achieve your plan
• The scope of your plans

2. Business Goals With Revenue Targets

This section talks about the revenue target and associated business goals. You can  classify revenue figures  according to different categories to clarify the sales strategy.

For example, for each goal, you can enter the current outcome and targeted outcome as illustrated in the table below:

3. Review of Past Performance

Take a trip down prior period performance . Note the mistakes that negatively affected the outcome and their strengths which positively impacted the general outcome.

Your goal is to identify the strategies and tactics that work.

4. Specific Strategies, Methods, and Playbooks

List the  specific sales strategies,  methods, and playbooks you’ll use to achieve the goals listed above.

5. Customer Segments/ Buyers Persona

This section talks about potential  revenue-generating streams  and different opportunities available for the company and new markets. Remember to include upsells, referrals, and renewals.

6. Team Capabilities and Resources

Here, provide a summary and describe the current  production inputs required in the sales process , i.e., human resources, specialized software, sales team, etc.

7. Action Plan

The action plan requires you to set  specific strategies and supporting tactics  that will be used to achieve a particular goal, i.e. new acquisition. Assign different activities and responsibilities to teams who will run that particular action.

Below is an example of an action plan table:

8. Sales Tools

Go ahead and list the  tools you’ll use to ensure the sales plan runs smoothly  and all sales processes will be managed using these tools.

9. Performance Benchmarks

This is the last section of your sales plan. It  lays out the performance metrics  to track the process systems to help and monitor these metrics.

Also, list and provide links to used sources. Explain how the report will be generated and stored. Finally, talk about how the report will be used to review the progress made.

Okay, your sales plan is written. Great! But you’re not done yet.

Your next step is to present it to the sales team, management, and stakeholders. That’s because you need buy-in to make it happen.

When your sales team is on board, they’ll be pumped about doing their assigned tasks. When management is on board, they’ll be excited about giving you the budget you need to turn your plan into a reality. With buy-in as your top priority, it’s important to be prepared to give a solid presentation. In other words, sell it.

One final note: There are lots of reasons you may not get everything you ask for. There may be plans in the works you don’t know anything about yet. Or the budget may need to favor another initiative.

If you don’t get the budget you asked for, be sure to update your sales plan accordingly. The goal is to stretch your team’s capabilities, not do the impossible.

Sales don’t happen without a good sales plan. Fortunately, they’re not as hard as they might seem.

Take your time identifying your biggest challenges and problem-solving to overcoming them. Once that’s done, your sales plan is simply the document that organizes your ideas.

What’s your biggest hang-up when it comes to creating a sales plan? Have you found any tricks that help? Let me know in the comments below.

Max Altschuler

More like this....

• Activation Velocity: The KPI You Need To be Tracking in User Onboarding
• GTM 91: Transforming Customer Intelligence, Leading a Company Before Managing a Team and Finding a Rockstar Co-Founder with Linda Lian

How to Become a Fractional Professional and Land Fractional Work

Join us today, insider access to the gtm network and the best minds in tech., you may also like....

Want insider access? Sign up here.

Experience, strategy, and insights to help take you from 0 to IPO.

• Customer Success

Watch This Live Event

Sales | How To

How to Create a Sales Plan in 10 Steps (+ Free Template)

Published March 9, 2023

Published Mar 9, 2023

REVIEWED BY: Jess Pingrey

WRITTEN BY: Jillian Ilao

This article is part of a larger series on Sales Management .

• 1 Establish Your Mission Statement
• 2 Set Sales Goals & Objectives
• 3 Determine Your Ideal Customer
• 4 Set Your Sales Budget
• 5 Develop Sales Strategies & Tactics
• 6 Implement Sales Tools
• 7 Develop Your Sales Funnel
• 8 Create Your Sales Pipeline
• 9 Assign Roles & Responsibilities
• 10 Monitor Progress & Adjust Accordingly
• 11 Examples of Other Free Small Business Sales Plan Templates
• 12 Sales Planning Frequently Asked Questions (FAQs)
• 13 Bottom Line

Sales plans enable businesses to set measurable goals, identify resources, budget for sales activities, forecast sales, and monitor business progress. These all contribute to guiding the sales team toward the company’s overall strategy and goals. In this article, we explore how to create a sales plan, including details on creating an action plan for sales, understanding the purpose of your business, and identifying your ideal customers.

What Is a Sales Plan? A sales plan outlines the strategies, objectives, tools, processes, and metrics to hit your business’ sales goals. It entails establishing your mission statement, setting goals and objectives, determining your ideal customer, and developing your sales strategy and sales funnel. To effectively execute your sales plan, assign roles and responsibilities within your sales team and have metrics to measure your outcomes versus your goals and objectives.

Ten steps to creating an effective sales plan

Download and customize our free sales planning template and follow our steps to learn how to create a sales plan to reach your company’s revenue goals.

FILE TO DOWNLOAD OR INTEGRATE

Free Sales Plan Template

Thank you for downloading!

💡 Quick Tip:

Once you’ve created a sales plan, give your sales team the tools to execute it effectively with robust customer relationship management (CRM) software.

Use a CRM like HubSpot CRM to help your sales team collaborate on deals, develop sales reports, track deals, and create custom sales dashboards

1. Establish Your Mission Statement

A mission statement summarizing why you’re in business should be part of your action plan for sales. It should include a broad overview of your business’ products or services and your brand’s unique selling proposition. For example, you wouldn’t say, “We provide customers with insurance policies.” Instead, you might frame it as “We provide customers with cost-effective financial risk management solutions.”

It’s essential to fully understand your unique selling proposition before creating a mission statement. This allows you to learn why you’re different from competitors in your industry. It also helps you determine how your unique proposition suits a niche market better.

Steps on how to create a unique selling proposition

For instance, using the same insurance example above, you may realize specific markets are easier to sell based on that selling proposition. Therefore, it’s a good idea to narrow in on your mission statement by saying, “We provide startup businesses with cost-effective risk management solutions.”

2. Set Sales Goals & Objectives

Once you have summarized why you’re in business in a mission statement, begin setting sales goals . Typically, business goals will include one year, but may also include three- or five-year projections.

Steps on how to set sales goals

Here are a few options for how to set sales revenue goals for your business:

• Set sales amount: You may have a specific amount in mind for a sales goal. For instance, you may determine that $200,000 is a reasonable sales goal based on prior sales and your company’s ability to generate new business.
• Desired profitability: First, calculate the total anticipated expenses for the set time period to find the break-even point. From there, you can calculate how much revenue your team needs to bring in to make a certain profit margin. For example, if annual operating costs are expected to be $100,000, and you want to make a 30% profit, your sales goal is $130,000.
• Projected sales forecast: Based on an industry-standard or estimates you attained by running a sales forecast, you may find it’s better to use a projected sales forecast as your sales goal.

Pro tip: Projecting sales can be challenging without a suitable sales forecasting model. Our free sales forecast templates help you create simple, long-term, budget-based, multi-product, subscription-based, and month-to-month business sales forecasts. Some customer relationship managers (CRMs) like Freshsales have sales goal-tracking functionalities that allow you to set and assign sales goals for your team.

Five-year sales forecast template example (Source: Fit Small Business )

Sales goal tracking in Freshsales (Source: Freshsales )

Sales goals must reflect new business revenue and sales from existing or recurring customers. Then, you must add specific sales objectives that identify and prioritize the sales activities your team needs to complete to meet sales goals. This creates an objective way to measure success in hitting goals at all levels: organizational, sales department, team, and individual sales rep, which is an essential part of sales management .

For example, imagine your total revenue goal is $200,000 in year two and $300,000 in year three. You then add an objective, such as stating you want your business’ revenue from existing customers to grow 15% in year three. This can be measured by evaluating your percentage of revenue from existing customers in year three compared to year two.

3. Determine Your Ideal Customer

Determining the ideal customer or target market is the next step of your business plan for sales reps. It may have been accomplished when you developed your mission statement, but also when you set your sales goals and discovered how broad your market needs to be to reach them. Describing your ideal customer helps dictate who you’re selling to and your selling approach.

One way to establish your ideal customer is by creating a series of unique customer profiles . Each profile specifies key demographics, behaviors, interests, job positions, and geographic information about one of your ideal buyer types. Based on your customer profiles, you can then develop more targeted marketing strategies for lead generation and nurturing to move leads through the sales process more efficiently and close more deals.

Pro tip: Making a customer persona can be challenging, especially if it is based on the wrong data or if you just focus on the demographics. Check out our article on creating a customer persona to help you define your company’s ideal buyer types and guide your lead generation and marketing activities.

4. Set Your Sales Budget

After establishing your objectives and identifying your ideal customer personas—and before developing your actual strategies and tactics—you must identify a sales budget to work with. It should include estimated expenses for salaries, travel expenses, and the cost of any software tools or service providers used to help with sales and marketing. While these are meant to be estimates, research and due diligence should be done to avoid financial errors.

One way to set your sales budget, particularly for software tools and services you may be interested in, is to create and issue a request for proposal (RFP). Issuing an RFP allows you to post a summary of your needs to solicit proposals on potential solutions. In addition to providing accurate budget estimates from various qualified vendors and contractors, it may also help you discover cost-effective or high-performing options you were previously unaware of.

5. Develop Sales Strategies & Tactics

A sales strategy explains how you plan to outsell your competitors and accomplish your sales goals. It defines specific, detailed tactics your team will use to pursue your sales goals. These may involve using Google Ads, cold calling, and drip email marketing campaigns as part of a lead generation strategy. Available strategies differ depending on your company’s resources, skill sets, sales operation, and product or service offerings.

Strategies and tactics should be personalized for your ideal customers based on their unique interests, behaviors, and the best ways to connect with them. For example, some customer profiles show your ideal buyer generally only makes purchases based on trusted referrals. In this case, you could implement a referral strategy that provides incentives to generate more customer referrals .

Plus, different sales strategies will be needed to acquire new business vs keeping existing customers. When selling to existing customers, for example, your strategy could include cross-selling tactics where additional products are recommended based on prior purchases. The short-term cross-selling tactics could require customer service reps to send 30 emails per week recommending a complementary product to existing customers.

For a new business strategy, sales reps might rely on emotional selling methods when using cold calling as a tactic. Instead of product features, cold calling scripts would be geared to evoke feelings that lead to buying decisions. Tactics could reflect the objective of having reps make 15 cold calls each week. They could use a script that opens with a story about how a purchase made a customer feel or how someone felt because they didn’t purchase the product.

Pro tip: Ensuring your strategies are properly executed requires excellent sales leadership and a healthy environment for sales reps to operate in. Our how-to guide for building a positive sales culture shows you how to create an environment that promotes high job satisfaction, low employee turnover, and profitability.

6. Implement Sales Tools

Your sales strategy template should reference the software, hardware, and materials you use to manage the sales operation and make each team member more efficient. One of the most notable tools to include is the customer relationship management (CRM) system . It allows your team to organize contact information, streamline sales tasks, and facilitate communication with customers and leads.

HubSpot CRM , for instance, makes it easy to organize information about leads, contacts, and deal opportunities. Additionally, from a HubSpot CRM lead profile, you can initiate a conversation with that contact by calling, emailing, or scheduling an appointment.

HubSpot CRM contact profile (Source: HubSpot )

CRMs are also used to monitor and report sales progress. For example, many have dashboards and functionality, such as alerts, which make it easy to identify where your team may be underperforming. These could also tell you which leads are most likely to convert and should be focused on. Sales information such as deals closed, revenue generated, and leads created can be presented in a detailed report .

These types of insights can also be shown on the CRM’s system dashboard . Pipedrive is an example of a CRM that has a customizable dashboard that displays both activity information and performance-based data. Activity data include emails sent, received, and outstanding tasks to be completed. Performance-based data, on the other hand, have deals lost or the average value of won deals.

Pipedrive’s customizable dashboard (Source: Pipedrive )

Other sales enablement tools can make your sales team more effective. These include voice-over-internet-protocol (VoIP) phone systems , lead generation platforms, email campaign tools, content creation platforms, and task automation software. These tools can be found within CRM software or through CRM integrations and standalone applications.

In addition to technology tools, sales and marketing templates should be used to streamline outreach initiatives. Scenario-based, premade sales email templates , for instance, allow salespeople to have an email already crafted for their specific situation.

Creating and storing business proposal templates in your CRM also streamlines the contact procurement and business proposal generation process . This way, whenever a prospect says they’d like to receive a quote or you’re responding to a request for a proposal, you already have a customizable template ready to go.

Pro tip: Effective cold calling scripts sales reps can use as a guide when placing calls to new leads is a tremendous sales tool to include in your action plan for sales. Get started using our guide for writing a cold calling script , which includes examples and free templates.

7. Develop Your Sales Funnel

Setting up a sales funnel within your sales strategy template lets you visualize the stages of the customer journey, from becoming aware of your business to buying from it. By creating and understanding the different statuses of your leads, you can track progress and determine how effective you are at converting leads to the next stages in the funnel.

Using a sales funnel with conversion rates also makes it easier for you to adjust your sales strategies and tactics based on how effectively you’re getting leads through the funnel. For instance, let’s say you have 100 leads in the awareness stage of the funnel. You decide to cold call 50 of them and write a sales email to the other 50 to qualify leads by setting up a product demonstration.

After each campaign, you find you were able to qualify seven of the leads that were cold-called and only two of the leads you had emailed. Based on these funnel conversion rates of 14% (7/50) from cold calling and 4% (2/50) from emailing, you would likely adjust your tactics to focus more on calling instead of emailing.

Do you need help creating a sales funnel for your business? Our guide to creating a sales funnel explains the step-by-step sales funnel creation process and provides free templates and specific examples.

8. Create Your Sales Pipeline

Once your sales process’ sales funnel stages are identified, develop the sales pipeline stages . These stages include your team’s sales activities to move leads through the funnel. For example, you need to get a lead from the sales funnel stage of brand awareness to show interest in learning more about one of your services. To do this, you could add a sales pipeline activity like setting up a demo or presentation appointment through a cold call.

Adding your sales pipeline to your sales strategy is essential because it describes all the activities your sales reps need to do to close a sales deal. CRM systems like Freshsales allow you to create and track the pipeline stages for each lead or deal within the lead record.

Funnel view of Freshsales’ deal pipeline (Source: Freshsales )

Listing each pipeline stage also helps you identify tools and resources needed to perform the activities for each stage. For example, if you use phone calls to initiate contact with or introduce a product to a lead, you could develop outbound sales call scripts for your team.

After the initial contact by phone, you may use email to follow up after a call and then nurture leads throughout the sales process. As part of your follow-up, create and automate a sales follow-up email template to get them to the next pipeline stage.

The sales funnel shows where a lead is in the sales process. The sales pipeline, on the other hand, lists activities needed to drive leads to the next stage in the sales funnel. Both should be used in your sales strategy when defining the repeatable steps required to generate leads and close deals. Check out our article to learn how to create a winning sales process with insights on both creating a sales process and measuring its success.

9. Assign Roles & Responsibilities

Regardless of the size of your business or sales operation, your business plan for sales reps should include the role and responsibility of each person in the sales team. Each role should have a name, such as someone being a sales development representative (SDR). There should also be a summary of their responsibilities, such as “the SDR is responsible for setting up sales appointments using the activities listed in the sales pipeline.”

Measuring the performance of any sales position is simple through key performance indicators (KPIs). Specific KPIs should be used to measure performance for each role and should be included in your plan. Below are some examples of KPIs that can be used by the members of the sales team and their respective responsibility:

• Sales development representative: Responsible for introducing products and services, qualifying leads, and setting up appointments for the account executive. Performance is measured by calls placed, emails sent, and appointments generated.
• Account executive: Responsible for nurturing qualified leads, delivering the sales pitch , sending quotes, and closing deals. Performance is measured by business proposals sent, the average time in the proposal consideration stage, deals closed, and deal closing rate.
• Customer service representative: Responsible for managing customer needs, handling billing, and managing service tickets by assisting customers. Performance is measured by customer satisfaction, retention rates, and total tickets resolved.
• Sales manager: Responsible for the entire sales operation or team for a specific region or product/service line. Performance is measured by job satisfaction rates of sales reps, pipeline and funnel conversion rates, team sales deals closed, and team revenue growth.

While assigning roles in your plan, a sales rep’s territory could be based on geography, industry, potential deal size, or product/service line, creating more specialization for better results. Our six-step process on proper sales territory management is an excellent resource for segmenting, creating, and assigning sales territories.

This section of the business plan is also a prime spot for individually setting sales quotas for each rep or team needed to hit your organizational sales goals. Sales quotas should be a specific KPI for that sales role and be set based on the experience, skill level, and resources of that individual or team. These quotas should also be based on your organizational, department, and team goals and objectives.

10. Monitor Progress & Adjust Accordingly

Once the strategic business plan is in motion, monitor its progress to make any required adjustments. For instance, while your sales operation is running, you may find certain sales tactics are working better than expected, and vice versa. Your sales goal template should account for using that tactic more, as well as any new sales tools, budgetary changes, new roles, and possibly even a new sales goal.

As in the earlier example, if you found that cold calling was significantly more effective than emailing, reduce or abandon the email method in favor of cold calling. You could also invest in sales tools especially useful for cold calling, such as power dialing using a voice-over-internet-protocol (VoIP) phone system, or hire additional staff to place calls. All of these will be part of your updated business plan.

Pro tip: Focusing on the big picture by creating, executing, and adjusting a strategic business plan is one of the most critical traits of an effective sales leader. For more insights on what it means to be a sales leader and how to become one, check out our ultimate guide to sales leadership .

Examples of Other Free Small Business Sales Plan Templates

Apart from our free downloadable sales strategy template, other providers have shared their version of a free strategic sales plan examples. Click on our picks below to see if these templates fit your business process better:

HubSpot’s free sales planning template helps users outline their company’s sales strategy. It contains sections found in most sales plans, as well as prompts for you to fill out your company’s tactics and information. These include company history and mission, team structure, target market, tools and software used, positioning, market strategy, action plan, goals, and budget.

HubSpot sales strategy template (Source: HubSpot )

HubSpot’s sales goals template with the mission, vision, and story of the company (Source: HubSpot )

Visit HubSpot

Asana’s free sales plan template helps organizations analyze their current sales process, establish their sales objectives, identify success metrics, and plan actionable steps. The sales business plan template is embedded within Asana’s platform, automatically integrating aspects such as goals and measuring them against results or sales performance.

Asana sales plan example (Source: Asana )

Visit Asana

Sales Planning Frequently Asked Questions (FAQs)

What is sales planning.

Sales planning is creating a document that outlines your sales strategy, objectives, target audience, potential obstacles, and tools to achieve goals within a specified period. This may include your daily, monthly, quarterly, yearly, and long-term revenue objectives.

What is included in a sales plan?

A sales strategy plan template typically includes the following key elements:

• Target customers, accounts, or verticals
• Stock-keeping units (SKUs)
• Revenue targets or forecasts
• Strategies and tactics
• Pricing and promotions
• Deadlines and directly responsible individuals (DRIs)
• Team structure and coordination
• Market conditions

What are the different types of strategic sales planning?

The type of strategic planning for sales that you choose for your team ultimately depends on different factors. These include your revenue goals, available resources, the ability and bandwidth of your sales team, and your personal commitment to your plans. Once you have determined the details of these factors, you can choose from these types of strategic sales planning:

• Revenue-based sales action plan template: This is ideal for teams aiming for a specific revenue goal. It focuses on in-depth sales forecasting, improvement of conversion rates, and closing more deals.
• Sales business plan based on the target market: This plan is best for businesses that cater to several markets that are different from each other. In this situation, you must create separate sales goal templates for enterprise companies and small businesses.
• Sales goals plan: This focuses on other goals such as hiring, onboarding, sales training plans, or sales activity implementation.
• New product sales business plan: This plan is developed for the launch and continued promotion of a new product.

Bottom Line

While any business can set bold sales goals, creating a sales plan outlines how your team will achieve them. By following the best practices and 10-step process laid out above, your sales goal template defines what your sales process will look like. It will help establish baselines for accountability and identify optimal strategies, tactics, and the tools needed to make your team as efficient as possible.

About the Author

Jillian Ilao

Jill is a sales and customer service expert at Fit Small Business. Prior to joining the company, she has worked and produced marketing content for various small businesses and entrepreneurs from different markets, including Australia, the United Kingdom, the United States, and Singapore. She has extensive writing experience and has covered topics on business, lifestyle, finance, education, and technology.

Join Fit Small Business

Sign up to receive more well-researched small business articles and topics in your inbox, personalized for you. Select the newsletters you’re interested in below.

Business growth

Business tips

How to create a sales plan (and 3 templates that do it for you)

There's a 25-year-old "South Park" episode I think about way too often. Working on a presentation with a coffee-addicted classmate named Tweek, the boys see a gnome stealing underpants from Tweek's dresser. They follow him to a cave, where they discover a network of gnomes executing a massive underpants-smuggling operation.

Explaining their business model, the underpants gnomes present this outline:

Phase 1: Collect underpants

Phase 3: Profit

In this post:

What is a sales plan?

What goes into a sales plan

Free sales plan templates

How to start sales planning, types of sales plans, sales planning tips.

Automate your sales

A sales plan is a strategic document outlining goals and strategies for reaching predetermined sales targets. For the "South Park" underpants gnomes, it's the glaring question mark standing between their product and their profits.

These formal documents set the foundation for business objectives and operations, defining everything from target markets to marketing ideas to benchmark reporting to revenue projections. They're thorough enough to communicate nuanced research but concise enough to easily share with stakeholders across an organization.

What goes into a sales plan (including examples)

A sales plan has the information stakeholders need to establish sales goals, set strategies, allocate resources, collaborate across teams, track goal progress, and measure success. Basically, whatever the stakeholders need to make sound decisions about sales processes.

The specific elements of a business plan differ by factors like sales plan type, industry, product type, goal horizon, and organizational structure. Some may have just a few sections across a page or two, others a dozen or more over several pages.

While your sections may differ in number or phrasing, you can expect some version of these elements to go into most sales plans.

This section is where you set measurable sales goals. (In fact, this section is also called "Goals" in many sales plans.) Depending on your industry, common sales objectives include:

Total revenue growth

Market share expansion

Customer acquisition volume

Adoption rate increase

Obviously, you could just write "$100 billion" here and insert a Dr. Evil meme, then hope for the best. But the real objective of the objectives section is to come to attainable sales goals that align with broader organizational growth goals.

Increase market share by 5-10% this fiscal year

Target market

If your product is a massive eCommerce space with rock-bottom prices and free next-day shipping, write "Everyone" and move on. But since you're probably not Jeff Bezos, you'll need a detailed description of your ideal customer profile. 

By identifying specific segments and demographics, you can focus marketing operations and cater your sales plan to the customers and users most likely to help fulfill your sales goals.

Project managers of midsized technology companies with distributed teams seeking streamlined collaboration and task management

This is where you'll give the broad strokes of the approach you'll take to achieve your sales goals with your target market. Whether it's for entering new markets, expanding within existing markets, or launching new products, this generalized section communicates the stepping stones that will lead to your objectives.

Note that this section is related to the tactics section below but isn't as granular. Think of this as a space to describe the high-level strategies , their benefits, and their relation to sales goals and markets.

Improved prospecting, generating more qualified leads, and tailoring sales processes to market research to make existing sales processes more efficient

This is where you get down to the proverbial brass tacks with specific actions and campaigns that'll actualize your greater sales strategies. Feel free to go full sales nerd about things like pricing strategy , lead management , and marketing channels . 

These tactics are still theoretical and don't have to be set in stone at this phase. But this is a space to describe specifics like customer survey or beta testing methods, social media marketing campaign concepts, new sales techniques, or new ways of utilizing existing sales software and resources.

Leverage social media influencer outreach with influencer-specific promo codes

As anyone who's ever watched a heist movie knows, every great plan needs a crack team. In this section, you'll list either each member of your sales team or the team leads, depending on your team size. Beyond a simple list of names, here are some helpful elements to include about each:

Aptitudes or experience

Certifications or completed trainings

Hourly pay rate (for budgeting and forecasting)

Daily or weekly utilization limits

Associated accounts

This should help you outline a structure for assigning individual roles and responsibilities related to your strategies and tactics, ensuring you've got the people power to get the job done.

John Doe, UX specialist | $100/hour incurred expense | 20 hours/week floating utilization | Manager: Jane Doe | Responsible for analyzing survey data and making recommendations for UI updates

As you develop your strategies, you may find that you don't quite have all the resources you need to bring them to reality. Maybe you need additional sales tools to execute new tactics. Or maybe you need to build extra time into your timelines to create new sales enablement content to prepare your teams. 

It's possible you may even need new hires, freelancers, additional trainings, certifications, or third-party agencies to do the things you need to do. List those here, so you can incorporate them into your time and expenses.

CRM for lead management , agency with SEO specialization, freelance digital designer, additional SEO tools

Stakeholders won't just want to know what you're going to do—they'll want to know how long it'll take. Outline your strategies by breaking them into key milestones and deadlines according to the personnel you have. This should also map to revenue projections as your strategies mature.

2/15: Complete market research | 3/1: Synthesize findings | 3/15: Schedule strategies for Q2 execution

The last thing you want is to create a beautiful, perfectly crafted sales plan and discover that you don't actually have the funds to execute it. Based on entries in the last few fields, you should have a good idea of expenses based on strategy resources, personnel utilization, timelines, and any purchases your team may need. 

Chart those here with estimates for any other potential expenses related to marketing, advertising, and sales promotion activities.

Market research: $5,000 ($1,250/week salaried personnel, 8 weeks, 50% utilization) | Design assets: $2,000 (freelancer, flat rate) | New AI sales assistant software : $1,188 ($99/month, 12 months)

Sure, you've been making sales since you started executing your plan. But how do you know you're making enough sales to justify your efforts?

This is where key performance indicators (KPIs) come into play. By setting these during the sales planning stage, you allow stakeholders to measure the success of individual sales efforts, so you can report on how performance compares to sales targets over time. 

If you're not sure where to start, check out this robust list of eCommerce KPIs to get some KPI-speration.

Potential challenges

If sales were easy, every company would be successful. Even at the planning stage, you should be able to see some possible roadblocks on the horizon.

The best plans are realistic enough to be actualized, so be realistic about what might stand in your team's way. Try to get ahead of challenges relating to things like target market sensitivities, general market conditions, internal resources, competition, seasonality, or campaign effectiveness. Then, come up with contingencies, so you're ready for these obstacles if they do arise.

As anyone who manages workflows knows, everything's easier with templates—and a sales plan is no exception. Even if you don't think you need one, a sales plan can help you create more iterative processes, save time for stakeholders, and use automation for both creation and distribution.

Here are three templates for the same general sales plan structure to choose from, depending on the level of granularity and presentation you're looking for.

Sales plan template 1: Comprehensive document

If you're looking to get buy-in for your sales plan from senior stakeholders, you'll need a document that can organize and communicate your research.

This comprehensive sales plan template includes fields for each of the sections outlined above. Just copy it, rename it to your liking, and then click into each field to start filling in the information outlined in this post. (For sections you don't need, just delete or fill with "N/A" and move along.)

Best for: Communicating every element of your sales plan in full detail with (virtually) unlimited space

Sales plan template 2: Summary document

Maybe you need a sales plan template that gets the point across quickly. This one distills the gist of a sales plan into six concise, actionable sections, so you can share the most important elements of every sales objective in one document.

If you need room for more objectives, just copy/paste an empty row.

Best for: Quickly sharing the fine points of a sales plan with only actionable takeaways

Sales plan template 3: Project workflow document

What does your sales plan look like on a day-to-day basis? If you're having a hard time translating that, use this template.

Just include your sequence of objectives and related tasks, include the person they're assigned to, and tweak the date ranges. You can even update the progress graph for each task as you progress through them.

Best for: Organizing tasks, roles, and timelines within a greater sales plan

Step 1: Start sales planning. Step 2: ? Step 3: Start selling.

Sales planning may not be that easy, but it doesn't have to be especially complicated, either. It should take enough time and resources to come up with a document that's persuasive and detailed but not so much that it cuts into the real money-making efforts themselves. 

Here are a few ways you can set your plan up for efficiency, success, and—maybe most importantly—stakeholder buy-in.

Start with competitor research

The more you know, the better—and that's especially true for sales planning. Good competitive market analysis can set up your entire plan by showing you what success really looks like in the market right now, not just what you hope it can look like.

You may be tempted to start the sales planning process by outlining your objectives and tactics, but competitor research can go a long way in setting the stage for both. This can show you what works, how well it works, and what doesn't work. It can also show you opportunities to fill market gaps your competitors are missing.

You don't have to reinvent the wheel, but it can be very helpful to just reinvent what your competition is doing.

Helpful resource: The best competitor analysis tools

Don't shy away from established frameworks and methodologies

Established things are established for a reason: they work. If your organization doesn't already deploy standardized frameworks like SWOT analyses or lean on a methodology like Agile , consider using one to gain insights into your planning process or streamline it. 

Here are a few benefits many of these can potentially bring:

Iterative internal processes

Improved collaboration

Predictable lines of communication between teams

More useful insights from stakeholders

More accurate internal data

More reliable goal-setting

Obviously, the benefits will depend on the types of frameworks and methodologies you use. But the real key to any of them is the ability to standardize some element of the planning process and make collaboration more efficient.

Helpful resource: Reach any goal this year with the SMART system

Collaborate with stakeholders to define success

You may have one definition of success, while your stakeholders have a completely different one. Remember that your objectives and KPIs need to have bases in two realities: the market's and your company's.

It's the job of senior stakeholders to align sales efforts with high-level goals that help keep the entire operation afloat. That means they may have goals in mind that conflict with your market research findings about sales potential. The sales team, on the other hand, may need to help align expectations with market realities.

Successful sales plans keep both parties on the same page. As such, it helps to collaborate before setting sales benchmarks to see what success can look like for all involved parties.

Helpful resource: How to build a KPI dashboard in Excel in 3 steps (with free templates)

Don't forget about operations

Operations is one of the more complex elements of the sales process and can prove to have more volatility—along with a more significant impact—than others. While this may not necessarily apply to SaaS companies, for those with inventory to consider, sales and operations planning (S&OP) is essential.

S&OP helps align sales teams with operations teams to ensure they have the inventory needed to both keep up with demand and promote maximum stocking efficiency. Since inventory can take time and careful scheduling, it's best to get S&OP underway as early as possible. Demand forecasting, for example, is closely related to both sales and inventory projections, so combining these projections early is worthwhile.

Helpful resource: 7 key stages of product development life cycle

Establish clear lines of communication

If all good plans require a team, then all good teams require sound communication.

Since sales campaigns require collaboration between multiple parties and teams, it helps to have open communication channels during the sales planning process. This could mean adopting an Agile workflow and establishing daily Scrum meetings, hosting regular "office hours," or even just checking in with team leads.

While you're setting up these channels, tap them to get more accurate insights into sales planning elements like budgets, assets, and resource needs.

Helpful resource: The best collaboration tools for teams

While the sales plan templates in this post are somewhat generically designed for new product or feature launches, there are tons of other types of sales plans you can choose from. Many expand on specific elements already included at a high level in our templates, foregoing some of the other sections that aren't as relevant. 

If you know you want your plan to have a more granular focus on specific use cases, you could consider one of these options.

New product sales plan

This details the introduction and promotion of a recently launched or forthcoming product. Similar to the template and example in this post, it can be for a physical product, digital product, or service. It includes general information without getting too bogged down in details.

Best for: General sales planning for new products, services, or features

Milestone sales plan

Prioritizing timelines, this plan delineates sales objectives and targets to be achieved within specific timeframes. Typically, these timelines fall into weekly, monthly, and quarterly milestones. You can list these in a timeline section for any plan, but this plan is structured around those elements.

Best for: A bird's-eye view of the time a sales campaign will take

30/60/90 sales plan

This sales strategy outlines goals and priorities for the first three months of a new hire's tenure, typically focusing on short-term objectives. This can lean toward onboarding milestones to get the new rep up-to-date on sales processes.

Best for: Bringing on new sales reps

Sales budget plan

As a financial framework, this plan details allocated resources for sales activities and expenses to achieve revenue targets. This gets much more granular about the costs associated with sales, making that element of planning its primary focus.

Best for: Communicating nuanced expense figures

Sales tactics plan

Similar to a sales budget plan, a sales tactics plan is mainly concerned with one area of the sales planning process: the tactics. It takes a comprehensive approach to specifying the methods and techniques required to achieve sales goals and overcome challenges.

Best for: Communicating specific details about sales strategies

Sales territory plan

This one makes me think of classic mob movies—two families hashing out their territories in the Bronx over plates of spaghetti. It's a strategic outline of how you'll distribute sales resources within specific geographic areas or customer segments.

Best for: Segmenting sales efforts geographically

Sales focus area plan

This one highlights specific product lines, customer segments, or markets on which the sales team will concentrate their efforts. It helps align sales team members on their individual responsibilities.

Best for: Setting expectations for sales team roles

Market expansion plan

When you use this sales plan, you're taking a strategic approach to broadening the reach of a product or service by entering new geographical areas or targeting additional customer demographics. You can tailor it to go deep on a range of KPIs that suit your specific goals for saturation. 

Best for: Planning specifically for market growth KPIs

Marketing alignment plan

Marketing and sales—one hand (or team) washes the other. To help bump that cleaning sesh along, consider one of these plans. They help coordinate strategies, ensuring a solid connection between sales and marketing efforts.

Best for: Aligning sales and marketing teams

Growth action plan

This strategic roadmap details initiatives and steps to foster business expansion, increase market share, and achieve sustainable growth. It includes actionable strategies for making growth-oriented goals a reality.

Best for: Establishing actionable strategies for growth KPIs

As you build out your sales plan, you might find that you need a little help. Here are some of our top tips for sales planning:

Know your audience: The sales plan will either be for stakeholders, team members, or both. Write to their level and with the level of detail they need.

Start with SWOT: A SWOT analysis is a great way to get a quick, relevant picture of fundamental sales plan elements like aptitudes, challenges, and opportunities.

Budget carefully: Not every sales plan style includes budgets by default—but don't let this deter you. It's vital to know what you can afford before you start executing your plan.

Vary strategies: To reduce volatility, try to keep your sales tactics varied. This also helps you find the strategies that work best and back them with data.

Continue monitoring: You can't know if you hit your KPIs unless you monitor according to the benchmarks you're tracking.

Automate: Sales automation can help you achieve more with fewer resources, reducing budgets, lightening team loads, and cutting timelines in the process.

Make a (sales) plan to automate

Hopefully this post has you pumped for sales planning—or at least finding a mysterious new three-step business model (or even just watching "South Park"). 

To make the process easier, remember to use one of the sales plan templates we provided, so you can start the planning phase on the right foot. And when you use Zapier's no-code sales automation , you take sales efficiency to a whole new level. It'll help you do things like adapt and scale your sales processes, remove friction from buyer journeys, and free up sales teams to do more of what they're good at.

Related reading:

How to automate your sales

Audit your lead management process: A step-by-step guide

How to craft a winning CRM strategy in 8 steps (with examples)

6 ChatGPT prompts that will generate great sales emails

Get productivity tips delivered straight to your inbox

We’ll email you 1-3 times per week—and never share your information.

Bryce Emley

Currently based in Albuquerque, NM, Bryce Emley holds an MFA in Creative Writing from NC State and nearly a decade of writing and editing experience. His work has been published in magazines including The Atlantic, Boston Review, Salon, and Modern Farmer and has received a regional Emmy and awards from venues including Narrative, Wesleyan University, the Edward F. Albee Foundation, and the Pablo Neruda Prize. When he isn’t writing content, poetry, or creative nonfiction, he enjoys traveling, baking, playing music, reliving his barista days in his own kitchen, camping, and being bad at carpentry.

• Sales & business development

Related articles

What is a proof of concept? And how to write one (with template)

What is a proof of concept? And how to write...

How to choose the best automation software

AI in customer service: 11 ways to automate support

AI in customer service: 11 ways to automate...

How to write a letter of introduction for your freelance business

How to write a letter of introduction for...

Improve your productivity automatically. Use Zapier to get your apps working together.

Strategic Sales Plan Examples: 13 Sales Plan Templates

Casey O'Connor

What Is a Strategic Sales Plan?

When you should implement a strategic sales plan, what to include in your sales plan, 13 sales plan template examples, put your sales plan into action with yesware.

A strategic sales plan is a must-have for any business looking to increase their sales, amp up their revenue, bring a new product to market, or branch into a new territory.

In this article, we’ll go over everything you need to know about strategic sales plans: what they are, when to create one, and exactly what they need to include. We’ll also show you a handful of real-life, tangible sales plan template examples and tips for implementation. 

Here’s what we’ll cover:

• When You Should Implement a Strategic Sales Plan 

A strategic sales plan is designed to guide a sales organization through their overarching sales strategy. It provides them with access to the resources needed to prospect, pitch to, and close new accounts.

Strategic sales plans can include any combination of the following:

• Ideas: If you utilize a certain sales methodology — consultative selling or target account selling , for example — you might outline its key principles and a few tactical examples of it in action in your strategic sales plan. Your strategic sales plan should also include an overview of your target customer.
• Processes: In order for your sales team to reach maximum productivity, it’s important that your sales processes are clearly defined and standardized. Your sales team — both new hires and seasoned vets alike — should be able to refer to your sales plan for a repeatable, scalable process that’s backed by solid metrics. The processes should provide direction to sales reps that allow them to contribute to the company’s goals.
• Tools & Tactics: The best strategic sales plans are more than just high-level strategy and goals. They also include specific, step-by-step strategies that sales reps can implement in sales conversations, as well as the specific tools and content that reps need to close more deals.

Sales plans also typically spell out the organization’s revenue and overall business goals, as well as the KPIs and benchmarks that sales managers and other stakeholders will monitor to determine whether or not those goals are being met.

They should also outline management’s strategic territory design and quota expectations, with specific indicators and data to back those decisions. 

Finally, these sales plans should take into account your current team’s sales capacity and specifically address the acquisition plan for any resources that are not yet available but may be necessary for future growth.

If your sales team doesn’t already have a strategic sales plan in place — that is, one that’s referenced and updated regularly and the product of careful data analysis and inter-team collaboration — you may want to consider creating one. 

Research shows that the majority of the highest-performing sales teams operate under a formalized, closely monitored sales structure. 

On the other hand, most underperforming sales teams lack this structure. 

It’s clear that a well-defined sales plan is one of the prerequisites to optimized sales productivity and success; every salesforce should strive to create and adopt one if they want to meet their sales goals more efficiently.

That being said, there are a few key indicators that signal a need for more urgency in putting a strategic sales plan in place. 

You’re Trying to Increase Sales

A strategic sales plan will help your sales and marketing teams align their processes so that your outreach efforts are tailored to your target audience. 

You’re Looking to Amp Up Your Revenue

For startups and small businesses, attaining as many new customers as possible is usually the name of the game.

For larger or more established businesses, however, the business plan may instead emphasize revenue goals. In other words, the deal size starts to matter much more than deal volume. 

A sales strategy plan can help salespeople target and nurture higher-value accounts. Sales planning can also boost your revenue by illuminating untapped potentials for revenue growth within your existing customer base through cross-selling, upselling , and referrals .

You’re Gearing Up to Launch a New Product

A sales strategy plan is crucial for businesses that are preparing to bring a new product to market.

One last note: for businesses that already use strategic business planning (or for those on their way after reading this article), be sure to update your plan at least yearly. Many businesses at least review their plan, if not update it more formally, on a quarterly basis.

Ultimately, your strategic sales plan will be unique to your company and its specific goals.

Consider including the following components in your strategic business plan. 

Mission Statement

Industry & Market Conditions

Great sales planning cannot be performed in isolation. Your plan must take into account the current market conditions, including any challenges, recent disruptions, or upcoming notable events.

Organization Chart

A sales org chart can range in scope from very simple, like the one above, to more complicated. Some go as far as naming individual employees and outlining their specific responsibilities. 

A detailed org chart is especially helpful for efficiently onboarding new hires.

Product Info & Pricing

No sales plan would be complete without a one-sheet that outlines the features, benefits, and value proposition of your product or service.

It’s also helpful to include information about pricing tiers, as well as any discounts or promotions available for leverage at a sales rep’s discretion.

Compensation Plan

While we have no doubt that you’ve hired only the most intrinsically motivated salespeople, remember the bottom line: cash is king.

Money is the primary motivator for most salespeople, regardless of how truly loyal and hard-working they may be.

With that in mind, it’s a good idea to include your company’s compensation plan and commission structure in your sales plan. This is a surefire way to motivate your team to continuously improve their sales performance. 

Target Market & Customer

Sales Enablement

With the tremendous rise in content marketing, it can be challenging for salespeople to keep track of the various materials available for generating new business.

Branding & Positioning

The strategic sales plan should offer at least a high-level overview of your brand and messaging specifics, including social media presence. Take the time to optimize your company’s LinkedIn presence — it’s a goldmine of new business opportunities.

Marketing Strategy

In today’s day and age, it’s unlikely that your sales and marketing team are working in isolation from one another. At a certain point, sales and marketing strategies start to flow together until they (ideally) perform in harmony.

Still, it’s important to outline the perspective of the marketing team within your strategic sales plan. This will help your salespeople fine-tune their sales pitch and speak more meaningfully to the needs of the customer. 

Prospecting Strategy

Most salespeople report that their number one challenge in lead generation is attracting qualified leads. 

Prospecting can certainly be daunting, but it’s worth the effort to get it right. Tweak and fine-tune the process until you’re sure it’s as efficient as possible. Make sure it’s repeatable and scalable, and map it out within your sales plan. 

Action Plan

Any good strategic sales plan will also include a step-by-step section, much like a playbook. Here, you’ll outline the specific tactics and processes — including scripts, demos, and email templates — that have been proven to move prospects through the sales funnel . 

Be as specific as possible here. This will act as a blueprint for the day-to-day sales activities for your team.

It can be tempting to leave the numbers with the finance department, but financial transparency can go a long way in creating a culture of trust among your sales team.

You don’t need to go through every line item in the spreadsheet, but it’s not a bad idea to include a high-level look at where the dollars are flowing. 

KPIs, Metrics, and Benchmarks

Be sure to give your team a snapshot of how they’re currently performing, with real numbers to back it up.

By doing so, you help them self-initiate regular SWOT analysis of their own sales actions and processes. This will give them an opportunity to right the course if things aren’t going according to plan. 

Tip: Looking to fuel your sales plan with data-backed findings? Grab our free ebook below.

Remember that your company’s strategic sales plan will be highly unique. It may take some time and tweaking to find the components and format that best meet the needs of your business.

Here are 13 sales plan templates to help you get started.

1. Product Launch Plan Template

Sales and marketing teams create a product launch plan when they’re preparing to launch a new product. 

A product launch plan should include your product’s positioning statement, a SWOT competitive analysis, detailed market analysis, sales strategies and tactics, and details about the target market. 

2. Ideal Customer Profile Template

One way to avoid wasting time on unproductive leads is to include an ideal customer profile (ICP) in your sales plan. Here’s a sample : 

This will help ensure your prospecting campaigns are targeted and attract only the most qualified leads from the get-go. 

3. Microsoft Word Sales Plan Template

Here’s a great example of a sales plan goals template , easily accessible through Microsoft Word. 

4. 30-60-90 Day Sales Plan Template

5. Buyer’s Guide Template

A buyer’s guide is a short, simple information sheet that describes your product or service, its features and benefits, and its use. Below is an example of a buyer’s guide from Wayfair . 

In many cases, this document is as useful internally as it is for the customer. 

6. Marketing Alignment Sales Plan Template

If your company hasn’t already formally aligned sales and marketing, start with this type of sales plan template (basic example below), as most traditional sales plans already assume that these two teams collaborate regularly. 

One key component of a marketing alignment sales plan template is the presence of an ideal customer profile and buyer personas. 

The marketing alignment sales plan template should also focus on cohesive, on-brand messaging between marketing campaigns and sales conversations . 

This type of sales plan template helps keep everyone on the same page, increases efficiency, and improves sales effectiveness. 

7. Battle Card Template

8. Territory Design Template

Well-designed sales territories see a 10% – 20% increase in sales productivity. Be low is a basic example of a territory design map.

9. Market Expansion Plan Template

A market expansion plan outlines the strategies, tactics, metrics, resources, and more that teams will use when expanding into a new market or (more commonly) a new geographical territory. 

Market expansion plans also need to include details about distribution expenses and timelines, time zone variations, industry notes or important compliance information, local/cultural expectations and laws, and sometimes more. 

10. Compensation Plan Template

Your compensation plan (including a specific commission structure) is one way to motivate your sales reps.

While it may seem controversial or sensitive, the compensation plan is an important component of a strategic sale plan.

11. Sales Funnel Template

The sales funnel is a visual representation of the sales process. 

12. Marketing Plan Template

Your salespeople should be extremely familiar with the marketing strategies your company is using to attract new leads. Here’s a great example of a template you can use in your sales plan that outlines the different campaigns at work.

This kind of resource will help your reps know who to contact, when, and with what kind of content throughout the sales cycle .

13. B2B Sales Strategy Template

A B2B sales strategy template helps sales teams outline their goals, as well as the specific methodologies and tactics they will use to achieve them. Here’s an example :

The B2B sales strategy plan will vary widely depending on your team’s specific goals and strategies, but most teams include at least the categories highlighted in the template above. 

Yesware is the all-in-one sales toolkit that helps you win more business. It can be an invaluable resource for putting your sales plan into action in a way that’s streamlined, productive, and intuitive.

Communication

Yesware’s meeting scheduler tool helps you skip the back-and-forth when scheduling meetings.

Meeting Scheduler integrates with your Outlook or Gmail calendar and helps your clients automatically schedule meetings with you during times of availability. New events will automatically sync to your calendar. 

​ It can also create meeting types for common calls, like a 30-minute intro call or a 60-minute demo call. These templates can be automatically saved and generated with custom descriptions and agendas so everyone can come prepared. 

Prospecting

One of Yesware’s most popular features is its prospecting campaigns .

This feature enables salespeople to create automated, personalized campaigns with multi-channel touches. 

The tool tracks communication and engagement throughout the process and helps move prospects through the pipeline with little administrative effort from the sales team.

Yesware’s attachment tracking feature helps you find your winning content by tracking which attachments are most often opened and read by your prospects.

You can use these insights to sharpen your content and increase your engagement.

The reporting and analytics tools are also extremely valuable in optimizing your sales plan.  These reports enable salespeople to use data to win more business. The feature generates daily activity, engagement data, and outcomes to show you what is/isn’t working across the board.

Try Yesware for free to see how it can help your team carry out your sales plan today.

This guide was updated on March 6, 2024.

Get sales tips and strategies delivered straight to your inbox.

Yesware will help you generate more sales right from your inbox. Try our Outlook add-on or Gmail Chrome extension for free, forever!

Hit your number every month

Works on Outlook or Gmail (+ many more integrations)

Related Articles

The Ultimate Sales Tool Kit for B2B Success in 2024

Embracing Sales Tech: Revolutionizing Your Sales Process

The Future of Sales AI

Sales, deal management, and communication tips for your inbox

We're on a mission to help you build lasting business relationships.

75 Kneeland Street, Floor 15 Boston, MA 02111

[email protected]

How to Create a Sales Plan: Tips, Examples & Free Sales Plan Template

Tactics and strategies are great. But when you create a sales plan, you set a clear path to success, with each step mapped out ahead of you.

The Internet is full of people who will tell you all about the success they’ve found from their strategies, whether it's personalizing a newsletter subject line or changing the color of the 'Buy Now' button.

But, news flash—these tips and tricks aren’t actual sales strategies .

To create real, lasting growth for you and your company, you need to create your own grand strategy. And that starts with a solid sales plan .

So, what’s your plan? How do you build it (and stick to it)?

We’re about to take a deep dive into sales plans. By the end of this guide, you’ll be completely equipped to win the fight for business growth. And we can't recommend it enough—grab our free sales plan template here in the Sales Success Kit today:

GET THE SALES SUCCESS KIT →

What is a Sales Plan? (And What Makes for Successful Sales Planning?)

Armed with the information you'll compile within your sales plan, you can quickly identify any upcoming problems, sales droughts, or opportunities—and then do something about them.

If done correctly, the right sales plan template empowers you to spend even more time growing and developing your business, rather than responding reactively to the day-to-day developments in sales.

Sound exciting? Let’s jump right in.

Download Your Free Sales Plan Templates Today

Want to build your own sales plan template that'll clarify your business plan and accelerate your growth? Grab the Sales Success Kit , including...

...and more to help you set up strategic sales planning and quotas for your team.

Want to stand out in the competitive market? Explore the insights of challenger selling .

What’s in a Sales Plan? 6 Elements Every Sales Plan Needs

In basic terms, a sales plan template includes:

• Sales forecasting and goal-setting
• Market and customer research
• Prospecting and partnerships

Each part of the sales plan naturally works itself into the next, starting with your high-level goals, then considering market factors, and finally looking at who you know, and how to find more prospects to help hit your sales goals .

Here are the key elements to include in your plan:

1. Mission Statement

What gets your sales reps out of bed in the morning? What’s the clear mission that pushes your team to keep fighting for that win?

Your mission statement is a concise statement of the ‘big picture’—the main idea and goal you want to achieve. Think about your company mission and how the sales team forms part of that overarching goal.

2. Sales Goals and Revenue Targets

A sales plan must include achievable sales goals and the targets your sales reps will be working to reach. Use previous years' results to tell you what's reasonably possible for your team to do. Include specific metrics and KPIs , how these are performing currently, and what you plan to do to improve them.

This may also include information about your product’s pricing , planned discounts, and how your team can focus on the right customers to get the most revenue possible. Link these sales goals to the business goals your company is working to achieve.

3. Analysis of the Target Market

Your plan should clearly identify your ideal customer profile and information about the target market and demographic you plan to sell to. Are you breaking into a new market? Are you targeting small business or enterprise customers ? Give a concise description of your target audience and the stakeholders you’ll need to sell to.

4. Sales Strategy Overview and Methods to Reach Target Customers

This should include a brief overview of the customer journey , pain points , and how your salespeople will engage and follow up with new prospects throughout their journey to purchase. You'll likely outline specific sales activities you'll focus on, such as improving referral numbers, testing new cold-calling email strategies, or dipping your toe in social selling.

You may also include information about the marketing strategy and lead generation methods used to gather new leads and how sales managers will support the team.

5. Use of Resources and Sales Tools

How much does it cost your team to close a new deal? What is your budget for the sales team, or for sales tools ?

Inside your plan, list the resources you have available to you, and how you plan to use them during the year. This includes monetary resources, as well as human resources.

Next, show how your resources will be used. For example, how much will you spend on sales tools? Which CRM software is your team depending on? Briefly explain how you plan to use each tool and why you’ve allocated resources in that way.

6. Sales Team Structure

The structure of your sales team includes which reps are available during what times of the year, their specialties and skills, and where they focus in the sales process .

Also, include information about the sales managers, their teams, and the incentives you offer your reps.

The Benefits of Sales Planning: Why You Need a Sales Plan

Creating a sales plan from scratch can be daunting, even with the right sales planning template. So, why should you have your sales strategy written down and ready to act on?

Let’s talk about the benefits of sales planning to attract new business and grow your market share.

Clear, Time-Bound Goals Help You Reach Revenue Targets

There’s a reason they say, “A goal without a plan is just a wish.”

If you want your sales team to execute on and accomplish your sales goals, you need to have a plan in place. When targets are linked to specific timeframes and actions, your whole team will see how their individual work is involved in reaching your sales goals.

Prioritize Time and Resources

Without a specific action plan in place , your team won’t be able to prioritize their time with the right sales tactics and strategies to hit their targets.

With a clear outline of the tactics that bring the most significant ROI for your team, each rep can get the best results for the time they spend selling.

Clear Action Plan to Reach Your Goals

With an action plan in place, each team member knows what they’re supposed to be doing, and why they’re doing it. This keeps them motivated and helps them see how their individual efforts make a difference.

4 Types of Sales Plans (How to Choose Which Planning Style is Right for Your Sales Team)

It’s difficult to templatize a good sales plan since every plan is unique to the business and team it applies to. So, what are some examples of the types of sales plans you might create, and how can you choose between them?

• Revenue-based sales plan: If you’re aiming for a specific revenue goal, this type of sales plan will be focused on in-depth sales forecasting and specific actions to improve conversion rates and close more deals.
• Sales plan based on the target market: If you’re selling to vastly different markets, you may want to create a different sales plan based on the market you’re targeting. For example, your sales plan for enterprise companies would differ from your sales plan for selling to SMBs.
• Sales goals plan: A plan that’s focused on goals (other than revenue) may include hiring and onboarding, sales training plans, or plans to implement a new type of sales activity into your process.
• New product sales plan: When launching a new product, it’s a good idea to develop a specific business plan around its launch and continued promotion. This plan may include finding and contacting strategic partners, building a unique value prop in the market, and creating new sales enablement content for the team to use when selling this product. This type of sales plan can also apply to launching new features in your SaaS product.

How to Choose the Right Sales Planning Style

Ultimately, this will depend on factors such as:

• Your revenue goals
• The resources at your disposal
• Your sales team’s abilities and bandwidth
• Your personal commitment to seeing this plan through

When you’ve determined who is involved in sales planning, how committed they are, and the resources you can use to make this plan happen, you can start building your own sales plan.

9 Steps to Create a Sales Plan to 10x Your Sales Team’s Results

It may seem like a lot of work to develop a sales plan at this point. But once you do, you’ll be in a place to take your sales (and brand) to the next level.

Let’s break down this process, step-by-step, so you can start achieving greater results.

1. Define Your Sales Goals and Milestones

With a sales plan, we begin at the end: an end goal.

Start by choosing the sales metrics that matter most to your overall business. This could be:

• Annual or monthly recurring revenue (ARR or MRR)
• Retention or churn rates
• Average conversion time
• Average conversion rate
• Customer lifetime value (CLV)

It doesn’t matter so much which metric you choose —the important point is that it can tell you whether your work has succeeded.

Next, look at last year’s forecast and results . Were you being realistic? How did sales revenue increase annually? How does that compare your company to the industry standards? Use this information to determine what realistically you can bring in based on the size of the market, your company goals, and the experience and resources available to your sales team .

After setting clear sales goals, it’s time to set milestones . This involves breaking that big number down into smaller expectations with strict deadlines. These should challenge and motivate your sales team , without being so difficult they kill morale.

Lean on your sales team during this process. After all, they’re in the trenches with you and probably have the best knowledge about your customers. Learn about what they do during the workweek to close deals. Ask how much they’re currently doing, and how much bandwidth they have to do more. This will give you a real, frontline take on what goals and milestones to set in your sales plan template.

Finally, create specific targets with clear deadlines . For example, to achieve a sales goal of increasing revenue by 15 percent YOY, you might set the milestone of increasing your customer base by 20 percent, or increasing sales by 50% for a specific product.

Brought together, these milestones inform and support your overall sales plan, giving you a clear, actionable workflow to hit your overall goals for the year.

2. Clearly Define Your Target Market or Niche

You need to know the market you’re in and the niche you’re going to occupy so you can properly position your business for growth.

What’s a business niche? It’s more than just what your business specializes in—a niche is the space your business occupies with your products, content, company culture, branding, and message. It’s how people identify with you and search you out over the competition.

As serial entrepreneur Jason Zook explains: “ When you try to create something for everyone, you end up creating something for no one. ”

Don’t do that.

Instead, start by looking at a niche and asking yourself these questions:

• How big is the market?
• Is there a built-in demand for what you're selling?
• What’s your current market position?
• Who are your competitors? What are their strengths, weaknesses, opportunities, and threats?

If you’re stuck, start by going back to your own strengths . List out your strongest interests and passions. Pick a field where the odds are already in your favor—where you have a proven track record, more expertise to offer, an extensive contact base, and people who can provide you with intros.

These kinds of strategic advantages will help you clarify your buyer persona and amplify the results of your planning.

Start with one product in one niche—you can always branch out to a complementary niche later. Sell beautiful, handcrafted tea cups? How about a booming doily business? Or customizable teaspoons?

A niche doesn’t limit you. It focuses you.

3. Understand Your Target Customers

Chasing the wrong customers will only waste your time and money, so don't allow them to sneak into your sales plan.

Your best customers are the ones that are successful with your product and see the ROI of it. Talk to them, and find out what they have in common.

While defining ideal customers depends on your company and market, here are some basic characteristics you’ll want to identify:

• Company size (number of employees, number of customers, yearly revenue)
• Size of the relevant department
• Geographical information
• Job title of your POC
• Buying process
• The goal they’re trying to achieve with your product or service

Also, don’t forget to think about whether they will be a good ‘fit’. If this is a long-term relationship you’re developing rather than a one-night stand, you want to ensure you speak the same language and share a similar culture and vision.

Use this information to build out an ideal customer profile . This fictitious organization gets significant value from using your product/service and provides significant value to your company. A customer profile helps you qualify leads and disqualify bad-fit customers before you waste time trying to sell to them.

Once you know the type of company you want to target with your sales team, it’s time to get inside their head. Start by hanging out where they hang out:

• Are they on social media? What’s their network of choice?
• Are they members of any Facebook or LinkedIn groups?
• Can you answer industry questions for them on Quora or Reddit?
• What podcasts do they listen to, or what resources do they read?

Get in your customers’ heads, and you’ll be in a much better position to sell to them.

GET THE IDEAL CUSTOMER PROFILE KIT →

4. Map Out Your Customer’s Journey

The next part of an effective sales plan must address how that ideal customer becomes your customer. Do this by mapping out their journey, including actions and events during the different stages of the sales funnel :

• Consideration

Conduct a customer survey or chat directly with your current, happy customers to gather valuable sales planning insights. Ask them:

• When you became a customer, what did you want our product to do for you?
• What features were important to you? Why?
• What was your budget?
• How did you solve this problem before using our product?

To fully understand their journey as a customer, you can also ask about past buying experiences:

• When was the last time you bought something similar?
• Was that a good or bad experience? Why?
• What was the decision-making process like?
• How did you evaluate different offers?
• Which factors made you choose that particular solution?

Once you’ve identified the awareness, interest, and consideration stages, let your prospects and new customers build the rest of their roadmap by asking them: "What’s next?"

"What needs to happen to make you a customer?"

If, for example, they say they’ll have to get approval from the VP of Finance. Ask:

"Ok, and let's say he agrees that we're the right fit; what's next?"

We call this the virtual close , a way to put your prospect in a future-thinking state of mind that makes them imagine buying from you. Asking this question to several high-quality prospects will tell you those final few steps in the customer journey until they’ve signed on the dotted line.

Finally, piece together the post-sale journey. Once a prospect becomes a customer, what’s next? How do you enable them to use your product and be successful with it? What happened to create your most loyal customers? Understanding this piece of the sales process is essential to managing and increasing customer retention .

5. Define Your Value Propositions

You know your customers. You know their journey. Now, define where you fit in by looking at your competitive advantage . Fully articulating what sets you apart from the competition is a crucial element of your sales plan template.

Start by asking a few simple questions:

• Why do customers buy from us?
• Why do customers buy from our competitors and not us?
• Why do some potential customers not buy at all?
• What do we need to do to be successful in the future?

Remember that customers buy benefits, not features. When describing your value proposition , it’s easy to get caught up in talking about you. What you’ve made. What you do. Instead, flip the script and talk about what your product will do for your customers . A strong competitive advantage:

• Reflects the competitive strength of your business
• Is preferably, but not necessarily, unique
• Is clear and simple
• May change over time as competitors try to steal your idea
• Must be supported by ongoing market research

For example, the competitive advantage of help desk software has nothing to do with its social media integrations and real-time ticket tracking. It’s the fact that it allows its customers to focus on creating a great customer experience.

Here’s the point: Focus on value, not features, in your sales plan template.

Your competitive advantage will inform everything your company does moving forward, from marketing to product development. It’s a great example of where sales can influence the development of a product and the direction of a business.

6. Organize Your Sales Team

The way your sales team is organized can enable them to better serve their customers and bring new revenue into your business faster.

Here are three basic structures for your sales team :

• The island: Individual reps work alone.
• Assembly line: Each sales rep is assigned a specialized role such as lead generation, SDR (qualifier), Account Executive (closer), or Customer Success (farmer).
• Pods: Each sales rep is assigned a specialized role in a pod, or group, that’s responsible for the entire journey of specific customers.

Think about the strengths and weaknesses of your sales team members, and how they will truly thrive as part of the team.

7. Outline the Use of Sales Tools

Now it’s time to think about the tools you’re using. Building out your sales stack takes time and effort, but listing out that stack in your sales plan will help you avoid getting caught up with new tech that may or may not help your sales team.

Basically, you’ll need tools for these areas to cover all aspects of the sales process:

• CRM software (like Close )
• Lead generation and prospecting tools
• Internal communication software
• Engagement and outreach tools
• Documentation software
• Sales enablement stack

Think about how all of your sales tools work together through integrations and where automation comes into play to save your team time, and how you'll drive CRM adoption across your team members.

8. Build a Prospecting List

A prospect list is where we take all the theory and research of the last few sections of our sales plan template and put them into action.

At its core, a prospect list is a directory of real people you can contact who would benefit from your product or service. This can be time-consuming, but it's essential for driving your sales plan and company growth.

First, use your ideal customer profile to start finding target companies:

• Search LinkedIn
• Check out relevant local business networks
• Attend networking events and meetups
• Do simple Google searches
• Check out the member list of relevant online groups

Target up to 5 people at each organization. Targeting more than one individual will give you better odds of connecting by cold email outreach as well as a better chance that someone in your network can connect you personally.

Remember, this isn’t just a massive list of people you could sell to. This is a targeted list based on the research you’ve done previously in your sales plan.

Once you have your list, keep track of your leads and how you found them using a sales CRM. This will keep historical context intact and make sure you don’t overlap on outreach if you’re working with teammates.

9. Track, Measure, and Adjust As Needed

Just because you’ve made a solid sales plan template to follow, doesn’t mean you get to sit back and watch the cash roll in.

Remember what Basecamp founder Jason Fried said about plans:

“A plan is simply a guess you wrote down.”

You’re using everything you know about the market, your unique value, target customers, and partners to define the ideal situation for your company. But yes, try as we might, very few of us actually see anything when we gaze deep into the crystal ball.

Instead, remember that your sales plan is a living, breathing document that needs to account for and adapt to new features, marketing campaigns, or even new team members who join.

Set regular meetings (at least monthly) to review progress on your sales plan, identify and solve issues, and align your activities across teams to optimize your plan around real-world events and feedback. Learn from your mistakes and victories, and evolve your sales plan as needed.

Create a Strategic Sales Plan to Grow Your Business

You’ve just discovered the basics—but I’ll bet you’re ready to go beyond that. Here are some final ideas to take your sales plan from a simple foundation to a strategic, actionable one.

Avoid Moving the Goalpost

Avoid making adjustments to the goals outlined in your sales plan—even if you discover you’ve been overly optimistic or pessimistic in your sales planning. When you're developing your very first sales plan template, it's natural to be wrong in some of your assumptions—especially around goals and forecasting .

Instead of letting it get you down, remember your plan serves as a benchmark to judge your success or failure. As you see places where your assumptions were wrong, carefully document what needs updating when it's time to revise your sales plan.

Invite Your Others to Challenge Your Sales Plan

Never finalize a plan without another set of eyes (or a few sets.) Get an experienced colleague—an accountant, senior salesperson, or qualified friend—to review the document before solidifying your sales plan.

Your sales team is another strong resource for reviewing your sales plan. Ask their opinions, give them time to think about how it relates to their daily work, and agree on the key points that go into your sales plan.

Set Individual Goals and Milestones for Your Sales Team

We talked about creating milestones for your business, but you can take your sales plan to the next level by setting individual milestones for your sales team as well.

These individual goals need to consider the differences in strengths, weaknesses, and skills among your salespeople.

For example, if someone on your team is making a ton of calls but not closing, give them a milestone of upping their close rate . If someone’s great at closing but doesn’t do much outreach, give them a milestone of contacting 10 new prospects a month.

Doing this will help your individual reps build their skills and contribute to their company and career growth.

Ready to Hit Your Sales Goals?

In most sales situations, the biggest challenge is inertia. But with a solid, detailed sales plan and a dedicated team with clear milestones, you’ll have everything you need to push through any friction and keep on track to hit your goals!

All jazzed up and ready to put together your own sales plan? Download our free Sales Success Kit and access 11 templates, checklists, worksheets, and guides.

They're action-focused and easy to use, so you can have your best sales year yet.

More articles from The Close Blog

Discover our latest free sales tools powered by AI

Learn from the sales pros with our free sales guides.

Generate Leads

Find quality leads and discover new lead sources

• Email Finder
• LI Prospect Finder
• Chrome Extension
• Email Verifier

Close Deals

Automate outreach with personalized emails to grow sales

• Drip Campaigns
• Email Deliverability Check
• Email Warm-up
• Gmail Email Tracker

Manage Sales

Keep your lead base organized and your clients buying

Snovio Academy

Expert-led crash courses on growing sales.

Case Studies

Stories of growth from real businesses who use Snov.io

News, analysis, growth tips, tutorials and more

Sales Cheats

First-aid solutions to the most common sales problems

Help Center

Find answers to all your Snov.io questions with detailed guides

Beginner-friendly articles on all things sales and marketing

Security Center

See which audits and certifications ensure top-level protection of your data

Integrations

Sync Snov.io with over 5,000 of your favorite tools and apps

• Pipedrive Integration
• Hubspot integration

Integrate Snov.io features directly into your platform

How To Create A Sales Plan: Steps, Templates, And Examples

Want your sales to skyrocket?

You’ll need a strategy. And for the sales success, nothing works better than a strategic sales plan. The key concern, of course, is how to design a plan that impacts sales. 

We’ve collected the necessary steps and sales plan examples so that you can promptly create a document that’s right for your organization.

What is a sales plan?

Advantages of a sales plan.

• Strategic steps to create an efficient sales plan
• Strategic sales plan templates

What sales plan to choose?

Let’s deal with the definition and sales plan elements first.

A sales plan is a strategy document that lays out a company’s plan for improving sales results over a particular period. 

Its components may differ. But they all focus on the business’ growth: profit plans, sales strategies, analytics, target market, existing sales force potentials, and much more. +

To make things easier, we narrowed them down to 9 main elements that lead to smooth selling. But feel free to use as many of them as you like.

1. Revenue targets and business goals

Without goals, you won’t know if your sales strategy was successful, right? This is the part where you can set a specific number to shoot for or create multiple goals for your sales team.

If you are in doubt about what to include, here are some examples to spark a thought:

• Specific sales numbers;
• Number of new clients you want to convert;
• Number of existing customers you plan to nurture and retain;
• Sales goals around a new product or service you are offering.

If you write an annual sales plan, you can briefly recap the previous year, its goals, scope of work, and results. Identify the mistakes and actions that led to positive results and draw a lesson from them.

3. Your ideal customer profile and their user journey

Ask yourself a question: who do you want to attract and convert? Demographics, purchasing habits, and other factors will help you create your buyer persona . 

But you shouldn’t stop here. It’s useful to outline the customer journey of your clients and suggest ways to improve their experience at every step of the sales funnel.

4. Customer segmentation and tactics to work with each segment

In this section, you can describe all segments of the leads you get from your channels and ways to communicate with them to boost profit generation. If new segments might appear in the future, describe them as well. 

Research market trends that can strongly affect your sales and suggest ways to use them to boost your performance.

Without a budget set in place, you risk spending more resources than you intended to. Think of the team size and operational tools you need to process and close the deals.

7. Strategies and tactics

Suggest the best approaches for your company and describe their implementation.

8. Action plan for individuals and teams

Here, you can determine the roles and responsibilities of specific staff members, assign tasks, and set deadlines for them.

9. Performance criteria and analytics benchmarks

Describe the tracked metrics and systems that help monitor them. 

You might now think, “That’s too many components to describe, do I need a sales plan at all?” Yes, you do. Let us explain why.

Of course, a sales plan promotes self-discipline and diligence, but it also ensures that your sales don’t dry up over time. Which means it’s not optional. 

We all tend to talk a lot, but without a plan, your goals might never turn into reality. So, the first advantage of a sales plan is that it helps you realize all of your greatest ideas. 

Besides, with it, you can determine the demand for your solution and identify new product areas to predict the growth of your business. It’s also a great tool in analyzing your rivals and competitive advantage to distinctly position your company in the market and specify your product niche.

Without the sales plan, it would be hard to choose strategies and metrics for your sales team. And, as a result, it would be more difficult to measure your progress, optimize your performance over time, and motivate stakeholders.

Here are all the benefits summarized: 

8 strategic steps to create an efficient sales plan

If you only start in sales and have neither sales planning experience, nor previous statistics, the following extensive guide will help you organize your work at every step, be it a small startup or a big corporation.

Each aspect of the sales plan moves gradually into the next, beginning with the team’s high-level objectives, then considering market conditions, checking your existing audience, and discovering more leads to help you meet your sales demands.

1. Set sales goals and metrics

Your sales plan structure needs an end goal . Identify what you can yield based on the size of the market, skills, and tools available to your sales team.

The biggest mistake you can make here is to set unrealistic goals. Yes, we know, you might be over-optimistic. But if you assume, for example, that the market’s going to go down and you’re going to lose a certain share, it won’t make any sense to forecast an increase in sales, right? 

Another piece of advice is to ask your sales team what they think your goals should be. These people closely work with your clients and have the best understanding of them. Ask their opinion, give them enough time to think it over, and then discuss it together. Or, you can get a more experienced person to analyze the plan and help set metrics before approving it.

Remember, your goals must be SMART !

What metrics should you track while analyzing the success of your sales department? There are plenty of them to monitor: 

• Sales growth
• Sales target
• Current opportunities
• Product performance
• Sales to date
• Quote-to-close
• Lead conversion rate
• Sell-through rate

It would be great for a team to have all the metrics displayed on one clear, intuitive dashboard . You can include screenshots of such dashboards in your sales plan for a more effective demonstration. For this task, such free tools as PowerPoint, Google Sheets, or Excel can be of great help. Or you can use any other software, as in the example: 

“But what if it turns out I was wrong in some of my assumptions around the sales plan objectives?”

Don’t worry. If you’re developing a template for the first time, this is perfectly normal. But what’s essential is that you’ll be able to learn what needs to be improved when it’s time for the next version of your sales plan.

2. Set deadlines and milestones

It will take a while to achieve your goals, so why not split them into smaller sized milestones with deadlines to track the progress? These targets are extremely convenient in checking if your sales plan is on the right track.

Use last year’s statistics . Observe how sales earnings improved and compare your company to the market criteria. Again, talk to your sales team about their work, how they generate leads, and how they convert them into clients. What is the current conversion rate? How many deals do they expect to close in the future? This will show you what objectives to set.

Your milestones need to be precise with definite deadlines . For instance, you might want to increase your client base by 25% or boost your revenue by 40% for a specified product by the end of Q3. No matter what the milestone is, set clear objectives and a tough deadline.

This is not it. It’s better to also set personalized milestones for your sales professionals, considering differences among your employees. 

For example, if somebody on your team is sending a lot of emails but not getting deals, give them the task of increasing the number of their closed deals. If someone’s awesome at closing deals but doesn’t do much outreach, give them the task of generating at least 20 new leads a month.

Oh, and set the budget as well! It usually includes:

• Sales training
• Salary and commission
• Tools, software, and resources
• Travel costs

3. Study market

You now know what you want. It’s high time to define the market niche you’re in so that you can accurately position your business to achieve the best results.

What’s a market niche? It’s what your company specializes in and also the place your business occupies, not only with your solution but also with generated content, corporate culture, and branding. It’s the way your audience identifies with you and recognizes you among competitors.

To analyze your niche, answer the following questions:

• How big is your potential market?
• Is there an inherent demand for your product?
• What’s your market situation today? ( SWOT analysis will be awesome here)
• Who are your competitors? (Again, SWOT analysis)

The key here is to find what your competitive benefit is:

• Why do clients decide to purchase from you?
• Why do customers buy from your rivals and never from you?
• How come some prospective leads do not purchase at all?
• What must you do to achieve success with time?

Keep in mind that clients purchase advantages, not characteristics. Whenever explaining your value proposition , it’s an easy task to get trapped in talking about your business too much. Put the script aside and mention exactly what your solution does for clients. 

A good competitive advantage :

• Shows the competitive power of the organization
• Is ideally, although not always, unique
• Is obvious and simple
• May change over time

Your competitive advantage isn’t just a fundamental component of your sales strategy, it will determine everything your organization does, from advertising to product enhancement. 

4. Build an ideal customer profile

Before you get inside your potential clients’ heads, you need to define who your target market is. Ask yourself questions: 

• What do your best customers look like? 
• What’s their personality like?
• What are their age, level of income, and living situation?
• What does their career journey look like?
• What industry do they belong to?
• Do they have the same pain points ?
• What are these challenges preventing them from achieving?
• What influences their decision-making?
• What content and information is most useful when communicating convincingly with them?
• What sorts of social networking platforms do they normally use? 

5. Determine what systems, tools, CRMs to use

It will be hard to do everything without the right resources for the job. And that’s where CRM software and sales automation tools come in handy.

CRM is a technology for managing all business relationships and interactions with existing and potential customers within a company. It helps gather information on how many emails your team is sending, how much time they’re spending on qualifying leads, and how much revenue they are bringing in. 

Meanwhile, with sales automation software, you will be able to standardize and automate the entire sales process. There are lots of professional tools for sales teams, these are just some of the examples: 

• Salesforce, 
• Freshsales, 
• Insightly, 
• Pipedrive, 
• Microsoft Dynamics 365, 

For example, a tool like Snov.io helps you fill your marketing funnel with quality targeted leads and close them easier. You can focus on every stage of the sales funnel and business growth: market research, lead generation, nurturing, conversion, statistics, analysis, and business forecasting for scaling and future growth.

6. Support existing customers

Don’t underestimate your current dedicated customers. References, word-of-mouth, client feedback, and existing connections are your best sources that ensure additional growth.

Check if anybody you know on social media can recommend you to one of your desired prospects. Contact loyal clients and offer them a discount or a referral bonus if they know someone who would profit from your products or services.

7. Find partners for strategic cooperation

Many entrepreneurs, startups, and big organizations might target the same types of customers. But oftentimes, they are not your competitors but rather offer services that can complement your solution (this is why they can be called CSPs or Complementary Service Providers).

You can engage with them in different ways:

• Writing for their website or blog;
• Delivering speeches at webinars or offline seminars;
• Offering valuable resources for their platforms;
• Creating a mastermind group where you can exchange contacts.

The more value you provide to your business partners and target audiences, the more connections you will have. All these services are provided for free and included as an additional investment in your sales strategy plan.

8. Keep studying your statistics, analyze, and modify your approaches

Don’t forget that your sales plan is a flexible document and needs to be regularly updated according to new market trends, outreach campaigns, features, or even staff members. Return to the document from time to time to see if your prognosis is close to reality.

Organize regular meetings to discuss progress, discover and solve problems, align the work across teams, get experience from your failures and success, and enhance your plan accordingly.

Strategic sales plan templates 

If you want to find more inspiration, check out these simple yet helpful sales plan template examples.

• HubSpot Sales Plan Template
• Sales Plan by Asana 
• BestTemplates Sample Sales Plan
• Venngage Online Sales Plan Maker Map
• BestTemplates Simple Plan
• Creately Sales Strategy Plan
• FitSmallBusiness Sales Plan
• BestTemplates Sales Action Plan
• TemplateLab Sales Plan Template in Microsoft Word 

There might be one more question unanswered – what template to choose? It all depends on your particular business goals: 

• The most common one is the 30-60-90 day sales plan with milestones that need to be achieved by each period.
• A weekly or yearly sales plan is also an option.
• You can create a sales plan for specific sales tactics , such as email drip campaigns, prescribed calls, and appointments. It sort of resembles a yearly/weekly sales plan, but it focuses on assessing and increasing gains for a single objective or task.
• In the meantime, sales professionals who manage a specific market region typically use region sales plans to present CMOs and VPs with more clarity of their sales initiatives.

Wrapping up

In many product sales circumstances, the greatest challenge is passiveness. However, with a great, step-by-step product sales plan and a passionate team with distinct milestones in mind, you’ll have everything you need to endure any resistance and carry on hitting your targets!

Leave a Reply (0) Cancel reply

Most Popular

How To Handle Sales Objections And Avoid The Backfire Effect

14 November 2023

Grow Your Business With Targeted Email Marketing

31 January 2024

How To Improve Customer Experience With Email

19 April 2024

Copied to clipboard

Thanks for subscribing 🎉

You will now receive the freshest research and articles from Snov.io Labs every month!

We've seen you before 👀

It looks like you've already subscribed to Snov.io Labs. Be patient - our next newsletter is already in the works!

How to Create a Sales Plan: A Step-by-Step Guide

Are you looking to develop a solid sales plan that drives business growth and sets your team up for success? You’ve come to the right place. In this comprehensive guide, we’ll walk you through the essentials of how to create a sales plan, from understanding its importance to leveraging technology and tools for continuous improvement. Let’s dive in and unlock the full potential of your sales team!

Short Summary

• A sales plan is essential for business growth , setting goals, and optimizing operations.
• Creating a successful sales plan requires strategic thinking, careful planning, and ongoing refinement involving stakeholders.
• Leveraging technology & tools to track progress & make data-driven decisions encourages continuous learning & improvement among the sales team members.

Understanding the Importance of a Sales Plan

A sales plan is a document that outlines target customers, business objectives, tactics, obstacles, and processes, as well as resources and strategies to help achieve the desired goals. It plays a vital role in business growth by providing direction, establishing objectives, and delineating strategies to accomplish revenue targets.

Furthermore, a well-defined sales plan helps identify the right sales tools to be used by the sales team, ensuring that they operate at their highest potential.

However, creating a successful sales plan is no easy feat. It requires a clear understanding of your target market , a well-defined sales strategy, and the ability to adapt to changing market conditions. The good news is that with the right approach and tools, sales managers can develop a winning sales plan that drives business growth and keeps their team focused on achieving their goals.

So let’s explore the key components of an effective sales plan.

The role of a sales plan in business growth

Sales plans play an essential role in business growth by setting targets, allocating resources, and optimizing operations. Regularly reviewing a sales plan helps identify growth opportunities, prioritize customers, maintain competitiveness, and adapt to changes in market conditions. By having a clear sales plan in place, your team can focus on the most critical tasks and maximize their efforts to generate revenue.

A strategic sales plan for business development zeroes in on securing new business opportunities by engaging in activities such as networking, sponsoring events, and outreach. Organizing a sales team and focusing on business development is vital for long-term success, as it helps your organization stay competitive and plan for future growth. The right sales tools play a significant role in organizing a sales team and supporting business development.

Benefits of having a sales plan

A sales plan has numerous advantages, including enhanced efficiency, sound decision-making, and augmented revenue. A well-defined sales plan helps motivate your sales team and allows them to recognize the impact of their individual contributions on overall business success. Moreover, delineating roles and responsibilities in a sales plan facilitates efficient task delegation, enhances collaboration, reduces overlap, and increases accountability among team members.

Pricing and promotions also play a crucial role in your sales plan, as they have the power to attract customers and drive them to purchase. By considering the needs of your target customers and adjusting your pricing and promotional strategies accordingly, you can maximize the potential of your sales plan and, ultimately, boost your bottom line.

Key Components of an Effective Sales Plan

Now that we understand the importance of a sales plan let’s explore its key components. An effective sales plan typically includes setting SMART objectives, defining target markets, developing strategic sales approaches, and allocating budgets and resources. By focusing on these essential elements, you can create a comprehensive sales plan that keeps your team on track and drives business growth.

It’s important to remember that the investment required to devise a sales plan is primarily time-based, not monetary. By dedicating the necessary time and effort to develop your sales plan, you can ensure that your team has a clear roadmap for success, complete with the tools and support they need to achieve their goals.

Setting SMART sales objectives

Establishing SMART sales objectives ensures that your goals are specific, measurable, achievable, relevant, and time-bound. When setting realistic and attainable sales targets, it is prudent to review past and current data to gain an understanding of your current position as well as what can be achieved in the short term and longer-term.

By setting SMART objectives, you provide your team with clear, actionable goals that drive them toward success.

Defining your target market

Defining your target market is crucial in focusing your sales efforts on the most profitable customer segments. This involves identifying factors such as industry, company size, and common challenges that your ideal customers face.

By understanding the needs and preferences of your target customers, you can tailor your sales strategies to effectively address their pain points and maximize the potential of your sales plan.

Developing strategic sales approaches

Developing strategic sales approaches involves creating tactics to reach and engage potential customers. Examples of sales strategies include outlining potential buyer pain points and how to address them, detailing the various ways to connect with the target customer and disseminate information about a new product, and implementing a lead scoring model to identify high-quality leads. By incorporating these strategies, your sales plan will be more effective and targeted.

The action plan is another indispensable component of a sales plan. It delineates the precise steps and tactics that will be employed to accomplish the established goals. Include concrete actions in your sales plan provides guidance and ensures that your team takes definite steps to attain the objectives outlined in the document. This, in turn, helps keep your sales team focused and accountable for their actions.

Allocating budgets and resources

Allocating budgets and resources is essential to guarantee financial feasibility and adequate support for your sales plan. This involves allocating resources according to the goals and objectives outlined in the plan and ensuring that your team has access to the necessary tools, software, and resources to achieve success in their roles.

By effectively allocating budgets and resources, you can create a sales plan that is both well-supported and financially viable within your overall business plan.

Steps to Create a Sales Plan

Creating a sales plan involves a series of steps, including analyzing past performance, identifying gaps, setting up team structure, coordinating sales and marketing efforts, and monitoring progress. By following these steps, you can develop a comprehensive sales plan that keeps your team focused on achieving their goals and drives business growth through an effective sales process.

It’s important to note that the sales planning process should be repeated annually to ensure that your organization’s sales excellence is maintained. By regularly reviewing and updating your sales plan, you can stay on top of industry trends, adapt to changing market conditions, and continually improve your sales strategies.

Analyzing past performance and industry trends

Analyzing past performance and industry trends is crucial in identifying areas for improvement and capitalizing on potential opportunities. This involves examining your sales data, conducting competitive analysis, and understanding buyer personas to gain insights into your current market position and areas where you can improve.

Regularly reviewing your sales plan allows you to adapt to changes in the market and maintain a competitive edge.

Identifying gaps and opportunities

Identifying gaps and opportunities in your sales plan allows you to make strategic adjustments to maximize your potential for success. By analyzing your past performance, industry trends, and customer feedback, you can pinpoint areas where your sales plan may be lacking and opportunities that can be exploited to drive growth.

Once you’ve identified these gaps and opportunities, you can adjust your sales plan accordingly to make the most of your resources and capitalize on new market trends.

Establishing sales team structure and roles

Establishing a clear sales team structure and defining individual roles is essential for ensuring efficient operations and maximizing the impact of your sales plan. By delineating roles and responsibilities, you can facilitate efficient task delegation, enhance collaboration, and ensure that each team member is accountable for their performance.

This also helps in the proper allocation of sales tools to each team member. This ensures that each team member has the resources they need to be successful in their role and that each team member has the resources they need to be successful in their role.

Aligning sales and marketing efforts

Aligning sales and marketing efforts is crucial for maximizing the overall impact of both departments on revenue generation. By coordinating your sales and marketing initiatives, you can ensure that your sales team has the necessary support and resources to effectively reach and engage your target customers.

This, in turn, helps to drive growth and increase your bottom line.

Monitoring progress and adjusting the plan

Monitoring progress and adjusting your sales plan is essential for ensuring continuous improvement and adaptability to changing market conditions. By regularly evaluating your sales performance and making necessary adjustments to your plan, you can stay on top of industry trends and continually refine your sales strategies to maximize your potential for success.

This approach also enables you to adapt to changing market conditions and maintain a competitive edge in your industry.

Sales Plan Templates and Examples

Templates and examples can serve as a foundation for generating individualized plans that are tailored to the specific needs of your business. By utilizing these templates, you can create a customized sales plan that addresses your unique business goals and objectives, ensuring that your sales team is well-equipped to drive growth and achieve success.

In this section, we’ll explore four types of sales plan templates that can provide a starting point for creating your own customized plan: the 30-60-90 day sales plan template, the territory sales plan template, the market expansion sales plan template, and the new product launch sales plan template. Each of these templates addresses specific business needs and can help you develop a comprehensive sales plan that drives growth and success.

30-60-90 day sales plan template

A 30-60-90 day sales plan template is ideal for new salespeople or businesses that are just starting to establish their sales objectives. This template breaks down your sales plan into short-term goals and action steps, allowing you to focus on immediate priorities and track your progress as you work towards achieving your long-term objectives.

By using a 30-60-90-day sales plan template, you can set realistic goals and create a clear roadmap for success in the early stages of your sales journey.

Territory sales plan template

A territory sales plan template focuses on targeting specific regions and maximizing sales within those areas. This template is particularly useful for businesses that operate in multiple locations or have a geographically diverse customer base.

By using a territory sales plan template, you can ensure that your sales team’s efforts are focused on the most profitable regions and effectively allocate resources to drive growth in those areas.

Market expansion sales plan template

A market expansion sales plan template is designed to outline strategies for entering new markets and growing your market share. This template is ideal for businesses looking to expand their reach and tap into new customer segments.

By using a market expansion sales plan template, you can develop a comprehensive plan that addresses the unique challenges and opportunities associated with entering new markets, ensuring that your business is well-positioned for success.

New product launch sales plan template

A new product launch sales plan template provides a framework for successfully introducing new products to the market. This template includes sections for market research, target audience analysis, pricing strategy, promotional activities, sales goals, and timelines, ensuring that all necessary aspects of the product launch are taken into account and executed effectively.

By using a new product launch sales plan template, you can streamline the product launch process and maximize the potential for success.

Tips for Creating a Successful Sales Plan

Creating a successful sales plan requires a combination of strategic thinking, careful planning, and ongoing refinement. In this section, we’ll share some tips that can help you develop a sales plan that drives growth and keeps your team focused on achieving its goals. By following these tips, you can foster a culture of continuous improvement and adaptability, ensuring that your sales plan remains relevant and effective in an ever-changing market.

Some strategies for creating a successful sales plan include involving stakeholders, regularly reviewing and updating the plan, fostering collaboration between departments, leveraging technology and tools, and encouraging continuous learning and improvement. By incorporating these strategies into your sales planning process, you can create a sales plan that drives growth, maximizes the potential of your team, and positions your business for long-term success.

Involving stakeholders

Involving stakeholders in the sales planning process is crucial for ensuring buy-in and support from all relevant parties. This can be achieved by soliciting feedback from experienced associates, such as accountants, senior salespeople, or knowledgeable acquaintances, and requesting input from your sales team, including sales reps.

By incorporating the insights and perspectives of various stakeholders, you can create a sales plan that is well-rounded and addresses the diverse needs of your organization.

Regularly reviewing and updating the plan.

Regularly reviewing and updating your sales plan is essential for keeping it relevant and aligned with changing market conditions and business goals. This involves assessing your current performance, identifying any gaps or opportunities, and making adjustments to the plan as needed.

By regularly reviewing your sales plan, you can stay on top of industry trends, adapt to changing market conditions, and continually refine your sales strategies.

Fostering collaboration between departments

Fostering collaboration between departments, such as sales and marketing, is crucial for maximizing the overall impact on revenue generation. By promoting open communication, establishing clear goals and objectives, and providing resources and support to assist teams in working together, you can create a collaborative working environment that drives growth and success.

This, in turn, helps break down silos and encourages the sharing of knowledge, resources, and ideas across your organization.

Leveraging technology and tools

Leveraging technology and tools, such as customer relationship management (CRM) systems, can streamline sales processes and improve efficiency. By implementing these tools and technologies, you can automate repetitive tasks, allowing your sales team to focus on more critical activities and drive growth.

Additionally, technology and tools can help you track progress and make data-driven decisions to refine your sales plan and maximize its effectiveness.

Encouraging continuous learning and improvement

Encouraging continuous learning and improvement among your sales team promotes skill development and adaptability, allowing them to stay competitive and provide superior customer service. This can be achieved by providing access to training materials, offering incentives for completing training, and fostering a culture of learning and development within your organization.

By promoting continuous learning and improvement, you can ensure that your sales team remains at the top of their game and is well-equipped to drive business growth.

In conclusion, creating a successful sales plan is crucial for driving business growth and maximizing the potential of your sales team. By understanding the importance of a sales plan, incorporating key components, following a step-by-step process, and utilizing various templates and examples, you can develop a comprehensive sales plan that keeps your team focused on achieving their goals. Remember to involve stakeholders, regularly review and update your plan, foster collaboration, leverage technology, and encourage continuous learning and improvement to ensure long-term success. Now it’s time to take action and create a winning sales plan for your business!

Frequently Asked Questions

How do you write a brief sales plan.

To create an effective sales plan, outline realistic goals, set deadlines and milestones, build traction in the industry, define a value proposition, establish a list of prospects, and track and measure progress.

This plan should include realistic goals that are achievable within a certain timeframe. Deadlines and milestones should be set to ensure that progress is made in a timely manner. Building traction in the industry is also important, as it will help to create a larger customer base. A value proposition should be made.

What is the creation of a sales plan?

A sales plan is a blueprint for achieving revenue targets, where sales leaders define long-term company goals and create an annual plan with strategies and resources necessary for achieving them. It includes information on the business’s target customers, revenue goals, team structure, and more.

What is the importance of a sales plan in business growth?

A sales plan is essential for business growth, providing direction, setting objectives, and outlining strategies to reach revenue goals. It also assists in recognizing the appropriate sales tools to be used by the sales team.

Having a well-defined sales plan is critical for any business that wants to succeed. It helps to ensure that the sales team is focused on the right goals and objectives and that they have the right tools.

What are the key components of an effective sales plan?

An effective sales plan should include setting SMART objectives, defining target markets, developing strategic sales approaches, and allocating budgets and resources.

SMART objectives are specific, measurable, achievable, relevant, and time-bound goals. Defining target markets involves researching customer needs and preferences and understanding the competitive landscape. Strategic sales approaches involve creating a plan to reach a target audience.

How can I ensure continuous improvement and adaptability in my sales plan?

Regularly review and update your sales plan, foster inter-departmental collaboration, leverage technology and tools, and prioritize continuous learning to ensure continuous improvement and adaptability in your sales plan.

Leave a Comment Cancel

Your email address will not be published. Required fields are marked *

Email Address:

Save my name, email, and website in this browser for the next time I comment.

• Starting a Business

Our Top Picks

• Best Small Business Loans
• Best Business Internet Service
• Best Online Payroll Service
• Best Business Phone Systems

Our In-Depth Reviews

• OnPay Payroll Review
• ADP Payroll Review
• Ooma Office Review
• RingCentral Review

Explore More

• Business Solutions
• Entrepreneurship
• Franchising
• Best Accounting Software
• Best Merchant Services Providers
• Best Credit Card Processors
• Best Mobile Credit Card Processors
• Clover Review
• Merchant One Review
• QuickBooks Online Review
• Xero Accounting Review
• Financial Solutions

Human Resources

• Best Human Resources Outsourcing Services
• Best Time and Attendance Software
• Best PEO Services
• Best Business Employee Retirement Plans
• Bambee Review
• Rippling HR Software Review
• TriNet Review
• Gusto Payroll Review
• HR Solutions

Marketing and Sales

• Best Text Message Marketing Services
• Best CRM Software
• Best Email Marketing Services
• Best Website Builders
• Textedly Review
• Salesforce Review
• EZ Texting Review
• Textline Review
• Business Intelligence
• Marketing Solutions
• Marketing Strategy
• Public Relations
• Social Media
• Best GPS Fleet Management Software
• Best POS Systems
• Best Employee Monitoring Software
• Best Document Management Software
• Verizon Connect Fleet GPS Review
• Zoom Review
• Samsara Review
• Zoho CRM Review
• Technology Solutions

Business Basics

• 4 Simple Steps to Valuing Your Small Business
• How to Write a Business Growth Plan
• 12 Business Skills You Need to Master
• How to Start a One-Person Business
• FreshBooks vs. QuickBooks Comparison
• Salesforce CRM vs. Zoho CRM
• RingCentral vs. Zoom Comparison
• 10 Ways to Generate More Sales Leads

Writing a Business Growth Plan

Table of Contents

When you run a business, it’s easy to get caught in the moment and focus only on the day in front of you. However, to be truly successful, you must look ahead and plan for growth. Many business owners create a business growth plan to map out the next one or two years and pinpoint how and when revenues will increase. 

We’ll explain more about business growth plans and share strategies for writing a business growth plan that can set you on a path to success. 

What is a business growth plan?

A business growth plan outlines where a company sees itself in the next one to two years. Business owners and leaders apply a growth mindset to create plans for expansion and increased revenues.

Business growth plans should be formatted quarterly. At the end of each quarter, the company can review the business goals it achieved and missed during that period. At this point, management can revise the business growth plan to reflect the current market standing.

What to include in a business growth plan

A business growth plan focuses specifically on expansion and how you’ll achieve it. Creating a useful plan takes time, but keeping your growth efforts on track can pay off substantially.

You should include the following elements in your growth plan:

• A description of expansion opportunities
• Financial goals broken down by quarter and year
• A marketing plan that details how you’ll achieve growth
• A financial plan to determine what capital is accessible during growth
• A breakdown of your company’s staffing needs and responsibilities

Your growth plan should also include an assessment of your operating systems and computer networks to determine if they can accommodate profitable growth .

How to write a business growth plan

To successfully write a business growth plan, you must do some forward-thinking and research. Here are some key steps to follow when writing your business growth plan.

1. Think ahead.

The future is always unpredictable. However, if you study your target market, your competition and your company’s past growth, you can plan for future expansion. The Small Business Administration (SBA) features a comprehensive guide to writing a business plan for growth.

2. Study other growth plans.

Before you start writing, review models from successful companies.

3. Discover opportunities for growth.

With some homework, you can determine if your expansion opportunities lie in creating new products , adding more services, targeting a new market, opening new business locations or going global, to name a few examples. Once you’ve identified your best options for growth, include them in your plan.

4. Evaluate your team.

Your plan should include an assessment of your employees and a look at staffing requirements to meet your growth objectives. By assessing your own skills and those of your employees, you can determine how much growth can be accomplished with your present team. You’ll also know when to ramp up the hiring process and what skill sets to look for in those new hires.

5. Find the capital.

Include detailed information on how you will fund expansion. Business.gov offers a guide on how to prepare funding requests and how to connect with SBA lenders.

6. Get the word out.

Growing your business requires a targeted marketing effort. Be sure to outline how you will effectively market your business to encourage growth and how your marketing efforts will evolve as you grow.

7. Ask for help.

Advice from other business owners who have enjoyed successful growth can be the ultimate tool in writing your growth plan.

8. Start writing.

Business plan software has streamlined the process of writing growth plans by providing templates you can fill in with information specific to your company and industry. Most software programs are geared toward general business plans; however, you can easily modify them to create a plan that focuses on growth. 

If you don’t have business plan software, don’t worry. You can create a business growth plan using Microsoft Word, Google Docs or a similar tool. For each growth opportunity, create the following sections: 

• What is the opportunity? Is your growth opportunity a new geographic expansion, a new product or a new customer segment? How do you know there’s an opportunity? Include your market research to demonstrate the idea’s viability.
• What factors make this opportunity valuable at this time? For example, your growth opportunity could utilize new technology, take advantage of a strategic partnership or capitalize on a consumer trend.
• What are the risk factors for this opportunity? Identify factors that may make this growth opportunity challenging to execute. For example, challenges may include the state of the overall economy, intense competition or supply chain distribution issues. What is your plan for dealing with these challenges?
• What is your marketing and sales plan? Identify the marketing efforts and sales processes that can help you seize this growth opportunity. Detail the marketing channel you’ll use ( social media marketing , print marketing), your message and promising sales ideas. For example, you could hire sales reps for a new geographic area or set up distribution deals with relevant brick-and-mortar or online retailers .
• What are the costs involved in this growth area? For example, if you add a new product, you may need to buy new manufacturing equipment and raw materials. While marketing costs are a given, remember to include incremental sales costs like commissions. Outline any economies of scale or places where your existing operations make the new growth area less expensive than a stand-alone initiative.
• How will your income, expenses and cash flow look? Project your income and expenses, and prepare a cash flow statement for the new growth area for the next three to five years. Include a break-even analysis, a sales forecast and all projected expenses to see how much the new initiative will add to the bottom line. Include how the new growth area will positively (or negatively) impact existing sales. For example, if you sell bathing suits and you decide to grow by adding cover-ups and sunglasses, you will likely sell more bathing suits. 

A cash flow statement will indicate if you must secure additional financing, and a break-even analysis will let you know when the growth opportunity will stop being a drain on the company’s financial resources and start turning a profit.

After completing this exercise for each growth opportunity:

• Create a summary that accounts for all growth areas for the period.
• Include summarized financial statements to see the entire picture and its impact on the company. 
• Evaluate the financing you’ll need to implement the plan, and include various options and rates. 

Why are business growth plans important?

These are some of the many reasons why business growth plans are essential:

• Market share and penetration: If your market share remains constant in a world where costs consistently increase, you’ll inevitably start recording losses instead of profits. Business growth plans help you avoid this scenario.
• Recouping early losses: Most companies lose far more than they earn in their early years. To recoup these losses, you’ll need to grow your company to a point where it can make enough revenue to pay off your debts.
• Future risk minimization: Growth plans also matter for established businesses. These companies can always stand to make their sales more efficient and become more liquid. Liquidity can come in handy if you need money to cover unexpected problems.
• Appealing to investors: For most businesses, a business growth plan’s primary purpose is to find investors . Investors want to outline your company’s plans to build sales in the coming months.
• Concrete revenue plans: Growth plans are customizable to each business and don’t have to follow a set template. However, all business growth plans must focus heavily on revenue. The plan should answer a simple question: How does your company plan to make money each quarter?

Motivate your employees by sharing your growth plan. When employees see an opportunity for increased responsibility and compensation, they’re more likely to stay with your business.

What factors impact business growth?

Consider the following crucial factors that can impact business growth:

• Leadership: To achieve your goals, you must know the ins and outs of your business processes and how external forces impact them. Without this knowledge, you can’t direct and train your team to drive your revenue, and you will experience stagnation instead of growth.
• Management: As a small business owner, you’re innately involved in management – obtaining funding, resources, and physical and digital infrastructure. Ineffective management will impact your ability to perform these duties and could hamstring your growth.
• Customer loyalty: Acquiring new customers can be five times as expensive as retaining current ones, and a 5 percent boost in customer retention can increase profits by 25 percent to 95 percent. These statistics demonstrate that customer loyalty is fundamental to business growth.

What are the four major growth strategies?

There are countless growth strategies for businesses, but only four primary types. With these growth strategies, you can determine how to build on your brand.

• Market strategy: A market strategy refers to how you plan to penetrate your target audience . This strategy isn’t intended for entering a new market or creating new products and services to boost your market share; it’s about leveraging your current offerings. For instance, can you adjust your pricing? Should you launch a new marketing campaign?
• Development strategy: This strategy means looking into ways to break your products and services into a new market. If you can’t find the growth you want in the current market, a goal could be to expand to a new market.
• Product strategy: Also known as “product development,” this strategy focuses on what new products and services you can target to your current market. How can you grow your business without entering new markets? What are your customers asking for?
• Diversification strategy: Diversification means expanding both your products and target markets. This strategy is usually best for smaller companies that have the means to be versatile with the products or services they offer and what new markets they attempt to penetrate.

Max Freedman contributed to this article.

Get Weekly 5-Minute Business Advice

B. newsletter is your digest of bite-sized news, thought & brand leadership, and entertainment. All in one email.

Our mission is to help you take your team, your business and your career to the next level. Whether you're here for product recommendations, research or career advice, we're happy you're here!

Our Recommendations

• Best Small Business Loans for 2024
• Businessloans.com Review
• Biz2Credit Review
• SBG Funding Review
• Rapid Finance Review
• 26 Great Business Ideas for Entrepreneurs
• Startup Costs: How Much Cash Will You Need?
• How to Get a Bank Loan for Your Small Business
• Articles of Incorporation: What New Business Owners Should Know
• How to Choose the Best Legal Structure for Your Business

Small Business Resources

• Business Ideas
• Business Plans
• Startup Basics
• Startup Funding
• Franchising
• Success Stories
• Entrepreneurs
• The Best Credit Card Processors of 2024
• Clover Credit Card Processing Review
• Merchant One Review
• Stax Review
• How to Conduct a Market Analysis for Your Business
• Local Marketing Strategies for Success
• Tips for Hiring a Marketing Company
• Benefits of CRM Systems
• 10 Employee Recruitment Strategies for Success
• Sales & Marketing
• Social Media
• Best Business Phone Systems of 2024
• The Best PEOs of 2024
• RingCentral Review
• Nextiva Review
• Ooma Review
• Guide to Developing a Training Program for New Employees
• How Does 401(k) Matching Work for Employers?
• Why You Need to Create a Fantastic Workplace Culture
• 16 Cool Job Perks That Keep Employees Happy
• 7 Project Management Styles
• Women in Business
• Personal Growth
• Best Accounting Software and Invoice Generators of 2024
• Best Payroll Services for 2024
• Best POS Systems for 2024
• Best CRM Software of 2024
• Best Call Centers and Answering Services for Busineses for 2024
• Salesforce vs. HubSpot: Which CRM Is Right for Your Business?
• Rippling vs Gusto: An In-Depth Comparison
• RingCentral vs. Ooma Comparison
• Choosing a Business Phone System: A Buyer’s Guide
• Equipment Leasing: A Guide for Business Owners
• HR Solutions
• Financial Solutions
• Marketing Solutions
• Security Solutions
• Retail Solutions
• SMB Solutions

How to Write a Sales Plan

Table of Contents

Every business needs a business plan as well as more detailed road maps that offer guidance to each department working toward that common goal. As the revenue-generating engine of your company, the sales department should be a top priority for this type of document, aptly named the “sales plan.” This guide introduces the concept of a sales plan and gives you all the guidance you need to create a sales plan that works for your business.

What is a sales plan?

A sales plan details the overall sales strategy of a business, including the revenue objectives of the company and how the sales department will meet those goals. This may also include revenue goals, the target audience and tools the team will use in their day-to-day. In addition, the sales plan should include examples of the hurdles and pain points the team might encounter, as well as contingency plans to overcome them.

“[A sales plan] is essential to support the growth of an organization,” said Bill Santos, vice president of the ITsavvy Advanced Solutions Group. “A sales plan helps individual reps understand the priorities of the business as well as the measurements by which they will be evaluated.”

Business plans vs. sales plans

Business plans and sales plans are closely linked. A sales plan, though, should outline the actions that the sales department will take to achieve the company’s broader goals. A sales plan differs from a business plan, though both work toward the same end.

“A business plan is a ‘what’ [and] a sales plan is a ‘how,'” said James R. Bailey , professor of management and Hochberg Professional Fellow of Leadership Development at the George Washington University School of Business. “Business plans are where a firm wants to go. A sales plan is a part of how they can achieve that. A business plan is direction; a sales plan is execution.”

For example, a software company that developed a new mobile application might state in its business plan that the app will be installed by 1 million users within a year of launch, while the sales plan describes how that will actually be achieved.

How to write a sales plan

Every sales plan should suit the individual needs of a different company, so they come in all shapes and sizes. There is no one-size-fits-all sales plan; the one you create will be unique to your business. With careful planning, you’ll have a much clearer vision of what you need to accomplish and a road map for how to get there. 

Chris Gibbs, vice president of global sales at Centripetal Networks, named some additional items that every sales plan should include.

• Targeted accounts: Assign each salesperson a few key accounts to focus on, and grow from that base.
• Targeted verticals: Sales teams might focus on specific market segments or verticals, such as a particular industry.
• SKUs: Salespeople should emphasize certain SKUs or inventory items rather than get lost in a broad catalog of merchandise to sell.
• Sales and marketing coordination: Sales and marketing teams should work together to create promotions to help generate sales.
• Product road maps: Every company has a road map, and each product should have a road map that shows the plan and direction for a product offering over time to chart out when a product will launch and when it might sunset or be replaced by a newer model.
• Forecasts: Sales forecasting is projecting sales volumes and expectations by comparing them historically to sales of previous years, and then conducting market comparison to determine where sales will fall against the competition.

“Sales plans are extremely important to ensure there is cohesiveness between product teams, sales and marketing,” Gibbs said. “In addition, they’re important for ensuring that timing of new products and/or new version releases coincide with sales objectives and forecasts.”

What are the steps to create a sales plan?

A sales plan is necessary for businesses of every size, from an individual entrepreneur to a Fortune 500 company. When you’re ready to actually write your sales plan, follow these steps:

1. Define the objectives. 

Clearly outlining your goals and stating your objectives should always be the first step in creating a sales plan or any other business venture. You should include the expected sales volume and any markets or territories you expect to reach. 

For example, let’s say you own a retail store selling household goods and electronics. If your purpose is to establish yourself as a trusted local retailer, ask yourself the following questions:

• If so, are they purchasing anything or just browsing?
• Was it word of mouth?
• Was it through marketing efforts, such as email marketing, direct mail or social media?
• How many are new customers?
• How many are repeat customers?
• Where do you want your sales to come from? 
• What are some external and internal factors that could impact your sales? These include industry trends and economic conditions.

When you can precisely state your key objectives, you are setting yourself up to plan later steps around achieving your goals.

2. Assess the current situation.

The next step is to create an honest overview of your business situation in relation to the goal you set in the first step. 

Review your strengths and assets. Take a look at your resources and how you can apply them to your goal. This can include personal relationships and competitive advantages like new products or services.

For example, if your goal is to enhance your relationship with your customers, you’d need to ask yourself some questions to examine your current situation:

• What is your current relationship with your customers?
• Where did most of your sales come from?
• Where would you like to expand your sales?

When examining your strengths and opportunities, conduct a SWOT analysis to get a clearer picture of where your business stands.

3. Determine and outline the sales strategies. 

Sales strategies are the actual tactics your team will use to reach customers. They can include marketing channels as well as procedures for lead generation and client outreach employed by your salespeople.

Here are two examples of potential sales strategies: 

• Use your POS system to retain customer information so you can track current and new customers.
• Employ email marketing, text message marketing , social media, outbound call center services and direct mail marketing campaigns.

4. Define roles for the sales team. 

Each member of the sales team should be assigned clear roles, whether they vary from person to person or everyone performs the same functions.

Defining the sales direction of the team is crucial, as it shows the focus of the company and helps the team target and execute sales most effectively.

The plan of attack for the sales team should be communicated clearly by leadership, whether it is from team leaders or the CEO.  

5. Inform other departments of sales objectives.

A sales plan shouldn’t just update a company president or C-suite; it should inform the whole organization of the sales team’s objectives. 

Clearly outline your plan for the rest of the company to help them understand the goals and procedures of the sales team. Other departments become more efficient when interacting with the sales team and clients. This also conveys a certain level of quality and professionalism to the clients about the company.

6. Provide tools for the sales team.

Provide the tools each member of the sales team needs to achieve the stated goals, such as customer relationship management (CRM) software. The best CRM software is customizable to meet a company’s needs, making it much easier for your team to use the software and work efficiently.

7. Detail how the department will track progress. 

Offer strategic direction and insight on how progress will be monitored. Having a quarterly review to assess whether the company is on target is just as important as the plan itself.

Markets change, and so should your sales plan. Keeping it up to date will help you capitalize on the market and achieve your goals. Tracking progress is made easier by the tools you use to collect data. That data will then have to be analyzed and presented in a way which all departments can understand and use for future growth. 

Key elements of a sales plan

Every sales plan should also include the following elements.

Realistic goals

You need to set achievable goals . Challenge your sales team, but don’t push too hard. Bailey said that these “deliverables” are among the key points to include in a sales business plan. 

“Deliverables need to be as specific as possible and moderately difficult to achieve – specific inasmuch as being measurable in a manner that is uncontested [and] moderately difficult inasmuch as making sales goals too difficult can lead to failure and discouragement.”

Midpoint goals also help build morale and keep the team working toward a larger goal. Instead of having one giant goal, creating smaller goals to achieve along the way will keep your team focused.

Set milestones that give you the opportunity to regularly determine whether you are on track to achieve your sales goals or need to make adjustments.

Sales tools

Tracking sales throughout the term is helpful, and you can employ tools to keep track of each team member as well as the department overall. It also helps establish a culture of accountability among salespeople.

“Tools can help, especially project management and CRM software,” Santos said. “Having a weekly cadence of update and review is also important, as it sends a message that ownership and updates are important.”

Clear expectations and a defined commission structure

Assign goals and responsibilities to each team member to make expectations clear. This is true whether or not each team member has the same goals.

“We meet with each individual to come up with a plan that works for them so that they can reach their goals,” said Leah Adams, director of client success at Point3 Security. “We measure results based on numbers. Each team member has his own plan and how they’re going to get there.”

It’s also necessary to spell out the commission structure in full detail.

“The only real difference is how sales count,” Bailey said. “In petroleum-based products … a few big clients are necessary. Compensation needs to be structured not just in contract value, but in graduated terms: Above $1 million, commissions move from 5% to 9%, and so forth. In smaller-volume enterprises, commissions might be front-loaded with higher percentages early, then graduated down. You have to reward what you want.”

Training programs

Along the way, some training might be necessary to maintain the momentum.

“What’s important to us is that we’re teaching these individuals to be the best salesperson they can be,” Adams said. “We help them do that by constantly training them and giving them knowledge of what’s going on in our industry. Everything stays on track because each member of the team knows their individual goal; though each person has a number, they also know the ultimate goal is for the entire team to hit.”

Adams said that an effective CRM keeps things organized and helps delegate tasks and responsibilities on a schedule that uses the company’s lead information.

Key steps to follow when devising a sales plan

Here are some best practices for creating a sales plan:

• Refer to the business plan. The sales plan should directly address the objectives of the business plan and how those objectives can be achieved.
• Advance clear objectives. The clearer the objectives are, the easier it will be to reach your goals.
• Reference prior sales data. Chart sales over the previous few terms, and project the trend for the current term. New businesses can create sales projections based on expectations.
• Outline the commission structure. This will help motivate your team and help you calculate anticipated costs.
• Be clear about how progress is measured. There should be no dispute about this. If larger clients carry more weight than lower-volume buyers, that should be stated upfront.

The benefits of a sales plan

A sales plan keeps the sales department on track, considering the details of how they must operate to hit their targets and achieve company objectives. Because the sales team is the primary driver of revenue, it is an incredibly important document. [Related article: Adopting a CRM? How to Get Buy-in From Your Sales Department ]

“It’s extremely important to have a sales plan in place, almost a must,” Adams said. “Without this plan, it’s almost impossible to get through the year and hit the company’s sales goals.”

It’s not uncommon to encounter obstacles along the way, however. A good sales plan accounts for that.

“Almost always, you’ll run into the speed bumps along the way, but with a plan in place, it makes it a whole lot easier to navigate through it all,” Adams said. “The sales plan allows you to adjust when necessary so the goal can still be hit. I strongly believe a plan allows you to stay in control and reduce the risk while being able to measure the team’s results along the way to that finish line.”

A solid sales plan helps you deal with unexpected events and acts as a benchmark for where your company is and where you want it to go.

Sales plan templates

Sales templates are helpful in that many of them are based on tried-and-true formats that have been used by businesses across several industries. They can also provide structure so that it is clear to each employee what their role and responsibilities are. 

Create your own sales plan by downloading our free template .

“A template helps plan each individual’s daily activities in a structured way,” Adams said. “If you know what each person is doing daily, it’s easier to help correct what’s going wrong. It helps with things like conversion rates, etc. Yes, these templates can be customized in any way a team’s manager sees fit, based on how he believes the team will perform better.”

Sales plans should be unique to the company; however, there are key components they should always include. Because there is somewhat of a formula, you can use a template.

Templates are extremely helpful, Gibbs said. “It creates uniformity for the team, as well as a yearly or quarterly sales plan to present to senior management.”

Gibbs added that templates can easily be customized to meet the needs of a particular business or sales team.

Keeping your team on track with a sales plan

Planning is vital for any business, especially when dealing with sales targets. Before selling your product or service, you must outline your goals and ways to execute them. Essentially, a sales plan enables you to mitigate problems and risks. When there is a clear plan of action, you will know how to proceed in order to attain your goals. 

Enid Burns contributed to the writing and reporting in this article. Source interviews were conducted for a previous version of this article.

Building Better Businesses

Insights on business strategy and culture, right to your inbox. Part of the business.com network.

Feedback for

Customer Lifetime Value Calculator

Most Likely

Sales Business Plan Template

What can you expect?

A 15-20 min conversation where our experts will:

Walk you through Salesken’s platform

Demonstrate how Salesken can address your pain-points

Show you the ROI of using Salesken

Answer any other queries that you may have regarding Salesken

Talk to our expert!

Unlocking success: a step-by-step sales business plan blueprint.

Download Sales Business Plan Template for Strategic Growth

Published: April 13, 2023

We're all guilty of subscribing to a myriad of newsletters and blogs by sales gurus who will guarantee that their practices will bring you success – whether it's personalizing your newsletter format, cold emails, or changing the 'Buy Now' button.

News flash – these aren't actual sales business plans or even sales strategies.

Building and developing a solid sales business plan is the foundation of your business. A sales plan outlines your future goals–be it revenue targets, sales targets, or even a marketing strategy–a sales business plan will propel you to always be two steps ahead of the game.

Whether you're focused on eCommerce, B2C, inbound, outbound, or even enterprise companies–a business plan is essential to survive.

So, what's a sales business plan? How do you build it (and stick to it)?

By the end of this guide, you'll be armed with the right plan to win the fight for your business and stay ahead of the curve at all times.

Let's dive in.

What is a Sales Business Plan?

A sales business plan is a strategic document that outlines the goals, objectives, and strategies of a company's sales team to achieve its revenue targets. The plan serves as a roadmap to guide the sales team in achieving their targets by outlining the steps they need to take in order to achieve success.

Here are a few sales business plan statistics -

• Only 22% of companies feel that their salespeople have the necessary resources to be successful. (CSO Insights)
• Companies with a documented sales process generate 18% more revenue than those without one. (HubSpot)
• Salespeople who use social selling techniques are 50% more likely to meet or exceed their sales quotas. (LinkedIn)
• 73% of sales teams say that the ability to collaborate is critical to their success. (Salesforce)
• Companies with a formal sales methodology in place have a win rate that is 28% higher than those without one. (HubSpot)

A sales business plan typically includes a SWOT analysis, which helps to identify the company's strengths, weaknesses, opportunities, and threats in the market. It also includes a target market analysis, which helps to identify the customers the company wants to target and how to reach them.

In addition, a sales plan outlines the sales team's objectives, which include the revenue targets they need to achieve, the products or services they need to sell, and the metrics they need to track to measure their success.

The plan also details the strategies and tactics that the sales team will use to reach their goals, including lead generation, prospecting, nurturing, and closing sales.

Overall, a sales business plan is a critical tool for any sales team, as it helps to focus their efforts, track their progress, and identify areas for improvement.

What is the Structure of a Sales Plan Template?

Sales plans vary from business to business, depending on their niche, the industry they are in, and more, but typically, they include the following sections -

1. Executive Summary

The executive summary is a critical part of a sales business plan that provides a high-level overview of the plan's key elements to stakeholders.

The executive summary should be brief, clear, and compelling, with a maximum of two pages. To create an effective summary, highlight the key points of the plan, including sales goals, target market, sales strategy, and revenue projections. Use simple language and include a call-to-action to encourage stakeholders to take the next steps, such as investing or partnering.

The executive summary is like an elevator pitch, and it needs to grab the reader's attention, communicate the plan's essence, and encourage action.

2. Company Overview

The company overview is a section in the sales business plan that provides an introduction to the company, its history, and the products or services it offers. This section aims to give the reader an understanding of the company's background, goals, and vision for the future.

Here are some pointers to help create an effective company overview -

• Briefly describe the company's history, including how and when it was founded and any significant milestones achieved to date.
• Explain the company's mission and values, highlighting what sets it apart from competitors.
• Provide a brief overview of the products or services the company offers, outlining their unique features and benefits.
• Highlight any key partnerships or collaborations that the company has established to help achieve its goals.
• If the company has any notable achievements or recognition, mention these briefly to help build credibility.

3. Market Trends and Analysis

The market analysis is a crucial section of the sales business plan that provides a comprehensive understanding of the industry and the company's place within it.

This section should cover the following -

• Define the target market by describing the ideal customer, including their demographics, psychographics, and behavior patterns.
• Analyze the industry by identifying its size, growth potential, and key trends. This analysis should also include an overview of the competitive landscape, including the company's main competitors and their strengths and weaknesses.
• Conduct a SWOT analysis to identify the company's strengths, weaknesses, opportunities, and threats. This analysis should help the company understand its position in the market and determine potential strategies for growth.
• Determine the market share and sales potential by analyzing the company's current and potential customers, the competition, and the overall market size.
• Identify any regulatory or environmental factors that could impact the industry, including government policies or changes in consumer behavior.

4. Sales Strategy

By developing a clear and effective sales strategy, the company can ensure that its sales efforts are aligned with its overall goals and objectives. A well-crafted sales strategy can help the company achieve its sales targets, expand its customer base, and gain a competitive edge in the marketplace.

• Define the sales goals by setting specific, measurable targets for revenue, market share, and other key performance indicators.
• Identify the target customers and their needs, including their pain points and motivations for purchasing the company's products or services.
• Determine the sales channels the company will use to reach its target customers, including direct sales, online sales, and third-party sales channels.
• Outline the sales tactics that the company will use to reach its target customers, including advertising, promotions, and pricing strategies.
• Detail the sales team structure, including roles and responsibilities, hiring plans, and training programs.
• Provide a sales forecast that outlines expected revenue and sales growth based on the sales strategy.

5. Sales Forecasting

The sales forecast predicts future sales performance and is a critical component of the sales business plan. This section should provide a detailed analysis of the company's sales projections, including historical sales data, market demand, sales channels, sales team, pricing strategy, and external factors.

By creating a detailed sales forecast, the company can set realistic sales targets, monitor performance, allocate resources effectively, and adjust its sales strategy as needed.

The budget section of the sales business plan outlines the financial resources needed to achieve the sales goals.

This section should cover the following:

• Estimate the costs associated with the sales strategy, including marketing expenses, sales team salaries, and travel costs.
• Identify any capital investments required to support the sales strategy, such as new equipment, technology, or facilities.
• Outline the expected revenue and profits based on the sales forecast and sales strategy.
• Develop a cash flow projection that details the timing and amount of cash inflows and outflows associated with the sales strategy.

By creating a detailed budget, the company can ensure that it has the financial resources needed to execute its sales strategy effectively. The budget can also help the company prioritize its spending, identify potential areas of cost savings, and monitor its financial performance against its sales goals.

7. Implementation Plan

The implementation plan outlines how the company will execute its sales strategy and achieve its sales goals. This section should cover the following:

• Identify the specific actions required to implement the sales strategy, such as developing new sales materials, hiring additional sales staff, or launching a new product.
• Assign responsibility for each action item and establish timelines for completion.
• Establish a system for monitoring progress and evaluating the effectiveness of the sales strategy.
• Develop contingency plans to address any potential obstacles or challenges that may arise.

The implementation plan can also help the company track progress, identify areas for improvement, and make necessary adjustments to the sales strategy as needed.

8. Metrics and KPIs

Metrics and Key Performance Indicators (KPIs) are used to measure the success of the sales strategy and provide insight into the performance of the sales team. This section should cover the following:

• Identify the metrics and KPIs that will be used to evaluate the success of the sales strategy, such as sales revenue, sales growth, customer acquisition cost, or customer lifetime value.
• Establish a system for tracking and analyzing these metrics and KPIs regularly.
• Develop a process for using this data to make informed decisions about the sales strategy and identify opportunities for improvement.
• Assign responsibility for monitoring and analyzing these metrics and KPIs to specific individuals or teams within the company.

With the right metrics and KPIs, the company can track the success of the sales strategy and make data-driven decisions to improve performance.

9. Risks and Challenges

The risks and challenges section of the sales business plan identifies potential obstacles that could impact the success of the sales strategy.

It assesses the likelihood and potential impact of each risk or challenge, develops contingency plans to address them, and assigns responsibility for monitoring and addressing these risks or challenges to specific individuals or teams within the company.

By doing so, the company can develop contingency plans to minimize its impact, adapt to changes in the market, remain competitive, and achieve its sales goals despite potential obstacles.

10. Conclusion

The conclusion section of the sales business plan summarizes the key points and highlights the overall value of the sales strategy. This section should cover the following:

• Recap the key points of the sales business plan, including the company overview, market analysis, sales strategy, sales forecast, budget, implementation plan, metrics and KPIs, and risks and challenges.
• Emphasize the value of the sales strategy, including the potential impact on sales revenue, market share, and customer acquisition.
• Provide a call-to-action that encourages stakeholders to support and implement the sales strategy.
• Thank stakeholders for their time and commitment to the sales business plan.

The conclusion section provides a final opportunity to reinforce the key points of the sales business plan and inspire stakeholders to take action.

How to Write a Winning Sales Business Plan Template: A Step-By-Step Blueprint

Writing a sales business plan template may seem like a lot of work, but once you do, you've already skipped leaps and bounds to take your business to the next level.

Let's break down this process, step-by-step, to help you write a winning sales business plan template -

1. State your Company's Mission

Your company's mission statement should explain what your business does, why it exists, and how it aims to achieve its goals.

Here are some tips for creating a compelling mission statement -

• Keep it short and simple.
• Use strong and clear language.
• Make sure it aligns with your company's overall vision and goals.
• Communicate how your business is unique.
• Focus on the benefits you provide to customers.

Your mission statement should inspire and motivate your team while also communicating your values to potential customers. It sets the foundation for the rest of your sales business plan, so take the time to craft a mission statement that accurately reflects your company's goals and values.

2. Set Objectives and Timeframes

In this section, you should identify specific, measurable goals for your sales team, and establish a timeline for achieving them.

Here are some tips for setting objectives and timeframe -

• Identify both short-term and long-term goals.
• Make sure your goals are specific and measurable, such as "increase sales by 10% in the next quarter."
• Set realistic and achievable goals.
• Assign each goal to a specific team member or department.
• Establish a timeline for achieving each goal.

By setting objectives and a timeframe for achieving them, you can motivate your sales team and provide a clear roadmap for success. Make sure to regularly track your progress toward these goals and adjust your strategy as needed to ensure you're on track to meet them.

3. Identify your Team Structure

The third step in creating a sales business plan is to identify your team structure.

This involves identifying the key players in your sales team, outlining their roles and responsibilities, and providing a brief overview of their experience and qualifications.

Here are some tips for describing your team -

• Identify the key players in your sales team, such as sales representatives, account managers, and sales managers.
• Outline each team member's role and responsibilities in the sales process.
• Provide a brief overview of each team member's experience and qualifications.
• Consider including a chart or diagram that illustrates the structure of your sales team.

By clearly defining your sales team and their roles, you can ensure that everyone is on the same page and working together toward your sales goals. Additionally, highlighting your team's experience and qualifications can help build confidence in your ability to deliver results.

4. Define your Target Market

The fourth step in creating a sales business plan is to define your target market.

This involves identifying the specific group or groups of people that your products or services are intended for and understanding their needs, preferences, and behaviors.

Here are some tips for defining your target market -

• Start by analyzing your existing customer base to identify common characteristics such as age, gender, location, income level, etc.
• Conduct market research to gain a deeper understanding of your target market's needs, preferences, and behaviors.
• Develop buyer personas that represent your ideal customers, including their goals, challenges, and pain points.
• Consider the size and growth potential of your target market, as well as any trends or changes that may affect their behavior.
• Identify any gaps or unmet needs in the market that your products or services could address.

By defining your target market, you can create more targeted and effective sales strategies that are tailored to the needs and preferences of your ideal customers. This can help you build stronger relationships with your target audience, increase customer loyalty, and ultimately drive sales growth.

5. Evaluate Resources

This step involves taking stock of the resources you have at your disposal and assessing how you can leverage them to achieve your objectives. Here are some key aspects to consider:

• Human Resources : Consider the size and skill set of your team. Determine if you have enough people with the right skills to achieve your sales goals, and if not, consider hiring or outsourcing.
• Financial Resources : Assess the financial resources you have available, including cash on hand, lines of credit, and investments. Determine if you have enough funds to achieve your sales objectives or if you need to secure additional financing.
• Technology Resources : Evaluate the technology resources available to your team, including hardware, software, and other tools. Determine if you have the right technology to support your sales efforts and if any upgrades or investments are necessary.
• Intellectual Property : Consider any patents, trademarks, or other intellectual property that can support your sales efforts. Determine if you have any competitive advantages that can be leveraged to increase sales.
• Facilities and Equipment : Evaluate your physical resources, including office space, production facilities, and equipment. Determine if you have enough space and equipment to support your sales efforts, or if any upgrades or investments are necessary.

By evaluating your available resources, you can determine what you have at your disposal to support your sales strategy and identify any areas where you may need to invest or make changes to achieve your objectives.

6. Carry Out Competitive Analysis with Competitors

This involves taking stock of the resources you have available to support your sales efforts, as well as identifying any additional resources you may need to acquire.

Here are some key things to consider when evaluating your resources:

• Sales Team: Evaluate the skills and experience of your sales team to ensure that they are capable of executing your sales strategy effectively.
• Marketing Materials: Assess the quality and effectiveness of your existing marketing materials, including brochures, websites, social media channels, and other promotional materials.
• Customer Data : Analyze your customer data to identify trends and patterns that can inform your sales and marketing strategies.
• Sales Tools and Technologies: Determine whether your team has the right tools and technologies to support their sales efforts. This could include customer relationship management (CRM) software, sales automation tools, or other sales technologies.
• Training and Development: Identify any gaps in your team's skills or knowledge, and develop a plan to address them through training and development initiatives.

By evaluating your resources in this way, you can identify any gaps or weaknesses in your sales process and develop strategies to address them. This will help you ensure that you have the resources you need to achieve your sales objectives and drive growth for your business.

7. Set the Budget

The seventh point is to set a budget for your sales business plan.

This step is essential to ensure that you have the necessary resources to implement your sales strategy effectively. Here are some tips on how to set a budget for your sales plan:

• Determine your Revenue Goals: Your revenue goals will guide you in setting a realistic budget. Consider the size of your market, the competition, and your pricing strategy.
• Calculate your Expenses: You need to estimate your expenses to set a budget. Make a list of all your expenses, including salaries, marketing, technology, and travel expenses.
• Prioritize Expenses: Once you have calculated your expenses, prioritize them. Identify the essential expenses that you must incur to implement your sales strategy.
• Allocate Resources: Allocate resources based on your priorities. Make sure that you have enough funds to cover your critical expenses and have some funds set aside for unexpected expenses.
• Review and Adjust: Regularly review your budget and adjust it as needed. Make sure that you are on track to meet your revenue goals, and adjust your expenses accordingly.

Setting a budget is crucial for the success of your sales business plan. It will help you allocate resources effectively, prioritize expenses, and track your progress toward your revenue goals.

8. Define your Organization's Marketing Strategy

Marketing strategy is an essential component of a sales business plan as it outlines the approach a company will take to promote and sell its products or services to its target customers. The following are some key elements to consider when defining the marketing strategy for your sales business plan:

• Value Proposition: Define the unique value proposition of your product or service, and identify the key benefits and features that set it apart from competitors.
• Target Audience: Determine the specific demographics, needs, and behaviors of your target audience, and how your product or service can address their needs.
• Positioning : Define the position of your product or service in the marketplace, based on factors such as pricing, quality, and features.
• Channels : Identify the channels through which you will reach your target audiences, such as social media, email marketing, or direct mail.
• Budget : Determine how much you will allocate to marketing activities, and how you will measure the return on investment.
• Marketing Tactics : Define the specific tactics you will use to promote your product or service, such as advertising, content marketing, or event sponsorships.
• Metrics : Identify the key performance indicators (KPIs) you will use to measure the success of your marketing efforts, such as website traffic, lead generation, or sales conversion rates.

By clearly defining your marketing strategy in your sales business plan, you can ensure that your efforts are focused, efficient, and aligned with your overall business objectives.

9. Figure Out the Sales Strategy

This step involves developing a detailed plan for selling your product or service to your target market.

Here are some things to consider when developing your sales strategy -

• Sales Channels: Consider the best channels for selling your product or service, such as online marketplaces, social media, direct sales, or distribution partnerships.
• Sales Process: Outline the sales process, including how you will generate leads, how you will qualify leads, how you will make your sales pitch, and how you will close deals.
• Sales Team: Determine who will be responsible for sales, their job descriptions, and how they will be trained and compensated.
• Sales Goals: Establish specific, measurable sales goals and objectives, such as revenue targets, sales volume, or customer acquisition.
• Sales Forecast: Develop a sales forecast based on your target market, pricing strategy, and sales goals. This should include projections for monthly, quarterly, and annual sales.
• Sales Metrics: Determine the key performance indicators (KPIs) you will use to track your sales success, such as conversion rates, customer lifetime value, and customer acquisition cost.

By developing a clear and comprehensive sales strategy, you will be better equipped to execute your sales plan and achieve your business goals.

10. Define an Action Plan

The final step to writing a sales business plan is to define an action plan.

This step involves determining how the objectives will be achieved and what actions need to be taken to implement the sales strategies outlined in the previous steps. Some key elements of this step include:

• Assigning Tasks and Responsibilities: Determine who will be responsible for implementing each aspect of the sales plan and assign tasks accordingly.
• Setting Timelines: Establish specific timelines for each action item to ensure that the sales plan stays on track and progresses toward achieving its objectives.
• Monitoring Progress: Regularly monitor progress towards the objectives and make adjustments to the action plan as necessary.
• Identifying Potential Roadblocks: Anticipate any challenges or roadblocks that may arise during implementation and develop contingency plans to address them.
• Identifying Metrics: Establish metrics and key performance indicators (KPIs) to measure the success of the sales plan and adjust the action plan accordingly.

By defining a clear action plan, a sales business plan can be effectively implemented, and the sales team can work towards achieving the objectives and targets set out in the plan.

Why Do Organizations Need a Sales Plan?

Organizations need a sales business plan for several reasons -

1. Clarity of Goals and Objectives

A sales business plan provides a clear roadmap for an organization to achieve its sales goals and objectives. Defining the steps that need to be taken helps ensure that everyone in the organization is working towards the same goals.

2. Resource allocation

A sales business plan helps organizations allocate resources effectively. By knowing where the company is headed, it can identify the resources required to achieve those goals and allocate them accordingly.

3. Improved decision-making

With a sales business plan, organizations can make informed decisions about their sales strategy. They can assess the viability of different sales channels, sales techniques, and sales campaigns based on the data they have collected.

4. Better risk management

A sales business plan can help organizations identify and manage risks more effectively. By forecasting sales revenue and expenses, companies can develop contingency plans to address potential risks.

5. Improved Communication

A sales business plan provides a clear and concise way to communicate the organization's sales strategy to stakeholders. This ensures that everyone in the organization is on the same page and working towards the same goals.

4 Examples of Sales Business Plan Templates

Here are a few examples of sales business plan templates that you could take inspiration from -

30-60-90 Day Sales Plan

A 30-60-90 day sales plan is a detailed outline of the tasks and goals a salesperson hopes to accomplish within the first 30, 60, and 90 days of starting a new job or taking on a new sales territory. The plan is designed to help the salesperson quickly ramp up their productivity and start making meaningful contributions to the team.

Here is a template for a 30-60-90 day sales plan -

First 30 Days

• Meet with my manager and team members to gain an understanding of the company's products, services, and sales processes.
• Study the company's existing customer base and their needs.
• Begin establishing relationships with key customers.
• Attend sales training sessions to further develop my skills and learn more about the company's offerings.
• Develop a list of potential prospects in my assigned territory.
• Schedule meetings with the manager and team members.
• Analyze the company's existing customer data.
• Make a list of key customers to reach out to.
• Attend scheduled sales training sessions.
• Create a list of potential prospects.

Second 30 Days

• Start making sales calls to prospects and schedule appointments.
• Follow up with previous prospects and leads.
• Conduct thorough research on potential prospects to understand their needs and pain points.
• Develop a clear understanding of the competitive landscape.
• Refine my sales pitch and value proposition.
• Make at least [X] several sales calls per day.
• Schedule appointments with interested prospects.
• Follow up with previous leads.
• Research potential prospects.
• Analyze the competition and develop strategies to differentiate from them.
• Work with my manager to refine my sales pitch and value proposition.

Third 30 Days

• Close deals with interested prospects and achieve sales targets.
• Continue building relationships with key customers.
• Develop a pipeline of potential future sales.
• Develop strategies to retain existing customers.
• Identify areas for improvement and provide feedback to the team.
• Create a customer retention plan.

2. Monthly Sales Plan Template

A monthly sales plan is a document that outlines the sales activities, goals, and strategies for a specific month. It is a crucial part of a company's sales strategy and helps the sales team to stay focused and accountable for their performance.

Here is a template for a monthly sales plan -

I. Overview

• Month: [insert month]
• Sales team: [list the sales team members]

II. Monthly Sales Goals

• Revenue goal: [insert revenue goal for the month]
• Sales target: [insert sales target for the month]
• Key performance indicators (KPIs): [list the KPIs that will be tracked for the month]

III. Sales Strategies

• Marketing activities: [list the marketing activities planned for the month]
• Sales activities: [list the sales activities planned for the month]
• Promotions and discounts: [list the promotions and discounts planned for the month]

IV. Sales Forecast

• Projected revenue: [insert projected revenue for the month]
• Sales pipeline: [list the sales opportunities in the pipeline for the month]
• Sales conversion rate: [insert the sales conversion rate for the month]

V. Resources

• Sales tools and technology: [list the sales tools and technology that will be used during the month]
• Sales team training: [list the training sessions planned for the month]

VI. Risks and Challenges

• Potential obstacles: [list the potential obstacles that may hinder sales performance]
• Mitigation strategies: [list the strategies to mitigate the potential risks and challenges]

VII. Action Plan

• Weekly sales goals: [list the weekly sales goals for the month]
• Assigned tasks and responsibilities: [list the tasks and responsibilities assigned to each sales team member]
• Deadlines: [list the deadlines for each task]

VIII. Conclusion

• Recap of monthly goals and strategies
• Next steps and follow-up actions.

3. Territory Sales Plan Template

A territory sales plan is a comprehensive strategy designed to outline the sales objectives, goals, and tactics that will be implemented in a specific geographic area or "territory."

This plan should provide a clear roadmap for how a sales team will approach and engage with potential customers in their assigned area, and outline the resources needed to achieve the desired outcomes.

A template for a territory sales plan might include the following sections -

• Executive Summary: This section provides a brief overview of the territory sales plan, including the purpose, objectives, and key strategies.
• Territory Analysis : This section should provide a detailed analysis of the assigned territory, including information about the market, competition, target customers, and other relevant data.
• Sales Goals: This section should outline the sales goals and objectives for the territory, including revenue targets, customer acquisition goals, and other key performance indicators.
• Sales Strategies: This section should provide a detailed overview of the strategies and tactics that will be used to achieve the sales goals outlined in the previous section. This may include details about lead generation, customer engagement, sales presentations, and other sales-related activities.
• Resource Allocation: This section should outline the resources required to implement the sales strategies outlined in the previous section. This may include budgetary requirements, staffing needs, and other resources necessary to support the sales team.
• Implementation Plan: This section should provide a detailed timeline and action plan for implementing the sales strategies and achieving the sales goals outlined in the previous sections.
• Performance Metrics: This section should outline the key performance metrics that will be used to measure the success of the territory sales plan, including sales revenue, customer acquisition rates, and other relevant data.
• Conclusion : This section should summarize the key points of the territory sales plan and highlight the expected outcomes and benefits of implementing the plan.

By using a template such as the one outlined above, sales teams can create a plan that is tailored to their unique needs and objectives, and that can be easily communicated to stakeholders and team members.

Wrapping Up,

Effective planning is crucial for the success of any business, and this is especially true when it comes to achieving sales targets. Before promoting your product or service, it's essential to establish clear goals and determine the strategies that will help you achieve them.

With a well-defined plan in place, you'll have the clarity and direction necessary to make informed decisions and stay on track toward achieving your objectives.

Don't leave the success of your sales plan to chance - schedule a demo with one of Salesken's experts today and discover how our innovative solutions can help you achieve your sales targets.

Download Template

Build a Successful Sales Business with Our Template

Define your target market, and develop a winning sales strategy with our sales business template. Know how to create personalized buying experiences that improve trust and loyalty with your organization.

Structure of a Sales Plan: What Your Need to Include

Building a sales plan is key to success. In this section, learn how to create a structured sales plan template, set goals, identify target customers and analyze competition.

A Step-By-Step Blueprint to Write a Winning Sales Business Plan

Creating a Sales Business Plan can be daunting. In this section, we'll provide you with a step-by-step blueprint for writing a winning Sales Business Plan Template.

Frequently Asked Questions

Recommended templates, sales prospecting email template.

Win at sales prospecting with our email templates and examples that work. Get practical tips and strategies to boost your sales potential.

Sales Tracking Template

Track your way to success with our Sales Tracking guide! Learn how to optimize sales performance with our easy-to-use templates.

Sales Onboarding Template

Want to create a seamless onboarding experience? Create a winning sales onboarding template with our easy-to-follow guide and tips for success.

Sales Pipeline Template

Streamline your sales strategy with the top 10 free sales pipeline templates. Get organized and boost your sales with this comprehensive guide.

Sales Coaching Template

Maximize your sales potential with our coaching templates. From beginners to pros, get practical tips and templates to boost your sales strategy.

Sales Script Template

Craft a winning sales script with our comprehensive template. Learn what it is, how to write it, and get examples to maximize your sales potential.

Sales Projections Template

Improve your sales forecasting with our comprehensive guide and template. Get practical tips and strategies to boost your sales potential.

Sales Follow-up Email Template

Boost your sales with the ultimate sales follow-up email template. Discover tips, best practices, templates, and more to increase conversions.

Sales Account Plan Template

Maximize your sales potential with our comprehensive account plan guide and template. Get practical tips and strategies to boost your sales.

30 60 90 Day Sales Plan Template

Unleash the secret sauce for sales managers to succeed with a comprehensive 30-60-90 day sales plan. Get practical tips and templates to boost your sales.

Sales Battlecard Template

Get ahead of the competition with our comprehensive sales battlecard template. Maximize your sales potential and win more deals.

Sales Report Template

Discover the power of sales data and gain valuable insights to boost your business strategy with a comprehensive sales report template.

Sales Strategy Template

Maximize your sales potential with a winning sales strategy. Get a step-by-step guide and examples in this comprehensive sales strategy template.

Sales Pitch Template

Discover the anatomy of a successful sales pitch template and get practical tips on how to write one from scratch. Plus, 4 quick templates to get you started!

Sales Proposal Template

Create winning sales proposals with practical tips, killer templates, and 8 types of proposals to get you started. Learn how in this comprehensive guide.

Sales Presentation Template

Discover how to master the art of sales presentations with a comprehensive guide that includes templates, techniques, and practical tips.

Sales Funnel Template

Maximize your sales with an effective sales funnel. Learn how to build one from scratch with practical tips and a step-by-step guide.

Sales Email Template

Revolutionize your sales game with our ultimate toolkit of proven sales email templates, ready to use, for maximum results. Get started today!

Want to Supercharge Your Sales Team?

See how Salesken can provide unparalleled insights into every customer interaction

Salesken AI Inc

[email protected]

No. 3699/A, Indiranagar, Bengaluru, Karnataka, India, 560038

1525, 11th Ave, 5th Floor, Seattle, WA, United States, 98122

Terms of service

Privacy Policy

Copyright © 2023 Salesken AI Inc. All rights reserved.

• What is Strategy?
• Business Models
• Developing a Strategy
• Strategic Planning
• Competitive Advantage
• Growth Strategy
• Market Strategy
• Customer Strategy
• Geographic Strategy
• Product Strategy
• Service Strategy
• Pricing Strategy
• Distribution Strategy
• Sales Strategy
• Marketing Strategy
• Digital Marketing Strategy
• Organizational Strategy
• HR Strategy – Organizational Design
• HR Strategy – Employee Journey & Culture
• Process Strategy
• Procurement Strategy
• Cost and Capital Strategy
• Business Value
• Market Analysis
• Problem Solving Skills
• Strategic Options
• Business Analytics
• Strategic Decision Making
• Process Improvement
• Project Planning
• Team Leadership
• Personal Development
• Leadership Maturity Model
• Leadership Team Strategy
• The Leadership Team
• Leadership Mindset
• Communication & Collaboration
• Problem Solving
• Decision Making
• People Leadership
• Strategic Execution
• Executive Coaching
• Strategy Coaching
• Business Transformation
• Strategy Workshops
• Leadership Strategy Survey
• Leadership Training
• Who’s Joe?

SALES STRATEGY

The big picture on sales strategy.

Conceptualize, measure and understand the opportunities to improve your customer pipeline and journey.

SALES STRATEGY: "HOW DO WE GET MORE CUSTOMERS TO BUY OUR STUFF?"

WHAT DOES A SALES STRATEGY LOOK LIKE?

Sales is simply a series of interactions & conversations.

When you strip out all of the noise, from a customer's point of view, their journey to purchase is a series of interactions and conversations. A customer is trying to solve a problem, and in their journey to solve it, they may become aware of your potential solution, show interest by seeking more information, consider the solution versus other competitors, and hopefully convert into a customer and a loyal repeat customer.

These interactions could be through a company's website, app, online content, stores, salespeople, partners and distributors, and other customers. You can conceptualize this series of customer & company interactions in two ways. From the perspective of the customer, you can codify the interactions in a customer journey map. From the perspective of a sales team, you can conceptualize the interactions in a  sales pipeline.

The first step in developing a strong sales strategy is to abstract the performance of the sales pipeline by applying a series of longitudinal metrics to each stage of the pipeline. How many potential targets are there, suspects, prospects, customers, or repeat customers? How long do they stay in each stage? How many drop off in each stage? How valuable are they in each stage? How have the metrics evolved over time?

Like any process , if you can't measure it, it becomes challenging to improve it. High-performing sales teams automate much of this data through a well-utilized and updated sales CRM system. If your company can't systematically report on the sales pipeline, then developing the capability, infrastructure, and discipline to measure and improve the pipeline should be an initiative in your sales strategy.

TAKING SALES INSIGHT TO THE NEXT LEVEL

The 4 ways to grow sales.

There are four ways to grow sales through a customer pipeline:

• Increase Addressable Market - put more people through the mouth of the funnel
• Accelerate Deal Velocity - make each step/stage shorter for the customer
• Improve Stage Gate Success - have the customer say yes to the next step more often
• Increase Deal Size - upsell and focus efforts on the larger deals

Understanding how these four growth metrics evolved over time is a good starting point for diagnosing customer pipeline issues and opportunities.  These four growth metrics are outputs of the sales growth drivers, which we go into next.

THE 3 SALES GROWTH DRIVERS

Sales growth comes down to better customer interactions and conversations, more of them, along with a better value proposition and marketing . To make these things a reality, there are three main components to a strong sales strategy:

1. Improving the alignment between the target customer , the differentiated value proposition , marketing, and distribution

2. Incorporating corporate growth strategy initiatives in the sales strategy

3. Developing a strong sales team strategy to improve the sales process and interactions executed by the salespeople, infrastructure, and partners

1. DON'T PASS GO UNLESS YOU HAVE A KILLER VALUE PROPOSITION

Many CEOS misdiagnosis their weak sales by concluding, "it must be the sales team."  

A strong sales team is important, but the most important driver of sales is a killer value proposition that creates more value than the competition for target customers. Once you have a killer value proposition, then you need the right messaging, marketing, and distribution that clearly amplifies the value proposition to the target customers.

So, the first thing any sales strategy should address is to make sure there is a clearly defined and articulated target customer, a killer value proposition for the target customer, and impactful messaging, marketing, and distribution focused on the target customer. Alignment on a target customer will make everyone's efforts more focused, efficient, and effective, while differentiation will make customers say yes more often.

Seriously, don't overlook this point. Pretty much every company that grows for decades and becomes a leader in their industry has and continually improves a killer value proposition that creates more value than competitors for the target customers. It is the heart that makes the sales flow for any strong sales team.

Now, we often hear, "well, that isn't under my control."  Well, you better figure out how to influence it, because, without alignment and differentiation, the customer will more often than not choose not to do business with your company.

2. WHAT'S GOING ON WITH THE BIG PICTURE STRATEGY STUFF?

Hopefully, you have a killer value proposition and aligned marketing and distribution, now what? Well, you need to think through how the high-level corporate growth strategy is going to affect sales and the sales team. Is the company expanding into new markets , customer segments, and geographies? Are there new and improved products , services, and pricing ? Are there new distribution channels or marketing campaigns? While it may be a lot to think through, growth expansion initiatives can have a significant impact on sales and the sales team.

Now, a few words of caution. First, be careful not to go after too many options , which can quickly overextend the sales team and the entire company. Companies that fail often go after too many new markets , customer segments, and geographies at the same time. Inevitably, the ambitious agenda creates fragmented efforts, massive complexity , opportunity cost , and ultimately failure. Second, while sales leadership should have a sizeable role in shaping the corporate growth strategy, it should not lead the effort. We see too many companies that try to say yes to everything sales wants to do, which often leads to a lot of running in place and going nowhere. Successful companies have a strong and balanced leadership team stewarding the big decisions and execution around corporate growth strategy.

Growth strategy initiatives are significant inputs into the last part of sales strategy, which is the sales team strategy. The big question is how growth strategy initiatives will affect sales and the sales team. Is there a need for new processes, people, partners, and technology? What is the expected impact on sales, quotas, customer metrics, and pipeline dynamics? This is one of the reasons why sales strategy is so complicated since there are so many dimensions that ultimately need to be addressed by the sales team, with the ultimate goal of having better customer interactions and conversations and more of them.

3. WHAT THE HECK ARE WE GOING TO DO WITH THE SALES TEAM?

Now to the heart of sales strategy, which is the sales team strategy. Any team, including a sales team, is simply a collection of processes executed by people, infrastructure, and partners. And, strategy is simply the goals we choose and the actions we take to achieve those goals. So, sales team strategy comes down to the sales team goals and the portfolio of initiatives to improve the processes, people, infrastructure, and partners to a level necessary to achieve the goals.

Below are some options to focus those sales team strategy initiatives on. We'll go over the high-level framing of some of the strategic options .

GET THE PROCESS RIGHT AND THE SALES WILL FOLLOW

Everything every member of a sales team does is a process, whether acknowledged as one or not. Has your sales team documented their processes, measure them? If not, that is a great place to start.

There are four main levels of a sales process outlined below.

At the highest level is the sales team governance , which includes the processes that strategically manage the sales strategy, forecasting, opportunities, overall pipeline, and sales operations. It typically involves weekly or monthly pipeline reviews, quarterly business reviews, and annual strategic planning , budgeting, and forecasting. The better the governance , the better the accuracy of forecasts, sales strategy, performance, and understanding of cause and effect.

The next level of the sales process is the customer journey, which includes every aspect of the journey customers take through an organization's processes to discover, evaluate, purchase, and consume the company's services and products. Strategic initiatives typically target reducing customer effort (e.g., self-help, automation , digital enablement), leaning out the customer processes, and increasing the rate of success on prioritized pipeline stages.

The sales methodology is one of the most critical processes for a sales team. The sales methodology is the overall sales approach between sales team members and customers to drive deal velocity and success. Most sales books focus on sales methodologies, such as spin selling , solution selling , MEDDIC , key account selling , GAP selling , and many others. We'll go a little deeper and synthesize all those books into a handful of important questions to quickly qualify and accelerate a deal.

The last level of the sales process to solve for is the daily, weekly, and monthly activity at the team and individual levels, which typically includes the day-to-day activity management and reporting to drive productivity and deal velocity through the pipeline.

ANSWER THE BASIC QUESTIONS TO ACCELERATE & CLOSE DEALS

There are hundreds of good books on sales methodology, but most of the methodologies come down to answering the basic 5 Ws (who, what, where, why, when) and 1 H (how) questions of a deal to qualify, accelerate and close the deal.

Once again, sales growth is driven by better customer interactions and conversations, and more of them. Weaving these questions into customer interactions, and recording and addressing the answers will help deals get through the pipeline. If you don't have a strong sales methodology, then start developing one that asks and answers the basic customer questions necessary to get a deal done.

TAKE A HOLISTIC APPROACH TO THE PEOPLE PART OF A SALES TEAM STRATEGY

For many B2B companies, sales expense, in the form of salary and commission, is often their largest financial expense, making it especially important to elevate and realize the potential of salespeople and the collective sales team.

There are many questions to answer about the people part of a sales strategy, which all fall into the various categories of our people strategy framework:

• Org Design ( Mission , Corporate Strategy, Structure, Roles & Competencies)
• Employee Journey (Recruiting, Hiring, Onboarding , Development, Evaluation, Advancement)
• Culture (Comp & Benefits, Environment, Norms, Values )

For a complete overview, visit our entire section on organizational strategy , hr strategy - org design , and hr strategy - employee journey & culture . Below, we'll cover some of the more unique elements of sales team strategy.

WHAT SHOULD THE SALES ORG LOOK LIKE?

A challenging question that typically comes up is, "what should the sales org look like?" 

There is a lot of art and science in answering this question. Regarding the size of the sales org, utilize benchmarks on revenue productivity per sales team member and percent of sales spend to revenue. You should also analyze the span of control, where each manager should have 8-12 direct reports. You also need to solve for the right amount of levels to the org, the fewer, the better. Finally, there are the actual roles and accountabilities , which we'll get into a bit more next.

HOW SHOULD WE ORGANIZE THIS SALES TEAM?

For many sales teams, better customer conversations and interactions necessitate a high level of specialization to address the needs of specific customer segments , markets, geographies, or stages within the sales funnel. This specialization leads to sales teams organizing around one or more of these dimensions (customer segments, markets, geography , sales funnel stages). What dimensions to organize around is a function of the customer experience, specialization, economics, and complexity.

Many companies are constantly reorganizing their sales team from one dimension to another, such as reshuffling the team from a segment focus to a geographic focus. These reorganizations often fail, due to the ensuing chaos. Most existing sales teams have optimized and refined their multitude of internal and external processes based on their existing organizational dimensions. When a sales team reorg happens, a sales team has to reconfigure its processes, infrastructure, and partners. If the change management of the sales reorg isn't stellar, often the customer journey and sales team devolves into a bit of chaos.

THE LOW HANGING FRUIT OF A SALES TEAM STRATEGY

The adage goes "it's all about the people."   We like to expand that to it's all about the recruiting, hiring, onboarding, development, evaluation, and advancement of the people. Improving the employee journey is essential in any sales strategy. The first place to start is to establish best practices in recruiting and hiring. The lowest hanging fruit is typically increasing the number of candidates you recruit and interview while professionalizing the interview and hiring process with standard interview guides and scorecards, group and immersive interviews, and team decision-making .

When it comes to the rest of the employee journey , one of the most impactful exercises is to survey team members about their employee journey, which not only creates a baseline but also solicits good ideas while providing built-in buy-in to improvements. Furthermore, there are a ton of established best practices in each stage of the employee journey.

YOU GET WHAT YOU REWARD

Creating a sales strategy.

In developing a sales strategy, always keep in mind you are solving for two things: 1.  the goals the sales team will strive to achieve, and 2. the strategic sales initiatives necessary to achieve the goals.

Whether it takes a few days, a few weeks, or a few months, there are typically four steps in developing a sales strategy, which is:

• Generate insights into the sales pipeline, customer journey, corporate growth strategy, sales team, and overall alignment & differentiation.
• Develop opportunities on how the sales team can improve the processes, people, partners, and infrastructure.
• Prioritize the potential initiatives based on value & benefit versus cost & effort.
• Set the goals and roadmap of the portfolio of sales initiatives

Given the breadth of possible analyses, gaps, opportunities, goals, and initiatives, it is imperative to assemble the best possible internal strategy team to develop and execute a very focused and impact-oriented project plan .

STEP 1: GENERATE SALES STRATEGY INSIGHTS

In developing a strong sales strategy, there are five main areas to generate insights on 1. the sales pipeline, 2. the customer journey, 3. corporate growth strategy initiatives, 4. alignment & differentiation, 5. the sales team (processes, people, infrastructure and partners).

A focused set of hypotheses and analyses will generate a ton of insights, otherwise, a team can "boil the ocean," wasting precious time and resources on things that don't matter. Focus on answering the key questions below, utilizing some of the typical strategic analyses and tools. By doing so, the team will generate the big "aha" insights that will guide the entire strategy project.

STEP 2: DEVELOP SALES STRATEGY OPPORTUNITIES

Once you have foundational insights for the sales strategy, then you enter the "create options" phase, where you need to come up with and develop the improvement opportunities that will drive sales to the next level. This phase drives the overall value of the strategy, since the number and quality of options limits strategies. Make sure you solicit ideas from as many places as possible and get the most creative and knowledgeable people involved to push the thinking.

There is always the opportunity to improve the customer journey, internal sales processes, and cross-functional processes. The lean toolkit , automation , and digital strategies will help sprout and nurture the best ideas. Solicit ideas and feedback from the entire sales team. A simple survey with both structured and open-ended questions will do the trick. There are also hundreds of best practices to improve the maturity of the sales processes , methodologies, people, and infrastructure.

STEP 3: PRIORITIZE THE GREAT IDEAS

Hopefully, at this stage of the project, you have more improvement ideas than resources and budget to execute.  Now, we are in the prioritization phase of the project. Before diving into prioritizing the ideas, you first want to see how much you can simplify , rearrange and combine the ideas into some larger potential initiatives.

Now, we get to the fun and collaborative stage of decision-making. Utilize some sort of prioritization or decision matrix to problem solve and debate the potential value/benefit , and cost/effort of each initiative. Get the right leadership and stakeholders in the room to have this robust debate, and potentially have a few rounds to refine and improve the thinking. In the end, focus the strategy on those "no brainer" ideas that are high value/benefit and low cost/effort with a shorter time horizon (3 months to 1-2 years).  For the "big bet" initiatives, figure out the timing, budget, dependencies, etc., before making a decision.

One of the most difficult challenges for sales team leadership is deciding on the right portfolio of initiatives. The first part of this challenge is getting enough skilled talent mobilized to successfully execute the initiatives and change management . The second part of the challenge is understanding the amount of change the sales team can realistically handle.

Whatever your decision-making governance , by the end you should have a strong portfolio of initiatives, budgets, owners, timing, and a pretty clear idea of the potential impact on the core metrics of the sales team.

STEP 4: SET THE SALES GOALS, FINALIZE THE ROADMAP, AND EXECUTE

Strategy comes down to setting goals and executing the portfolio of improvement initiatives necessary to achieve the goals.  You should distill all of the strategic analyses, problem solving , collaborating, and decision-making into one page of sales goals and initiatives. Of course, there should be a lot more detail (e.g., project plans, resource plans, change management plans, budgets, spreadsheets) behind the one page. However, as you think about communicating the big sales strategy to upper management, the internal sales team, external stakeholders, and partners, one page is always best.

One last thought, invest the time, resources, and commitment to change management . The hardest part of executing any strategy is the necessary behavioral change at the individual level. Thinking through the change management framework for each initiative will pay dividends in driving the change you are seeking.

If you want to talk about your sales strategy with an experienced strategy coach, set up some time with Joe Newsum , a Mckinsey Alum, and the author of this content and website.

DOWNLOAD THE SALES STRATEGY PLAN PRESENTATION TEMPLATE

Download the 100-page Sales Strategy Plan PowerPoint Presentation . The fully editable and professionally designed deck will give you a jump start on your sales strategy and plan.

Other Sales Methodologies

Download strategy presentation templates.

168-PAGE COMPENDIUM OF STRATEGY FRAMEWORKS & TEMPLATES 186-PAGE HR & ORG STRATEGY PRESENTATION 100-PAGE SALES PLAN PRESENTATION 121-PAGE STRATEGIC PLAN & COMPANY OVERVIEW PRESENTATION 114-PAGE MARKET & COMPETITIVE ANALYSIS PRESENTATION 18-PAGE BUSINESS MODEL TEMPLATE

JOE NEWSUM COACHING

EXECUTIVE COACHING STRATEGY COACHING ELEVATE360 BUSINESS TRANSFORMATION STRATEGY WORKSHOPS LEADERSHIP STRATEGY SURVEY & WORKSHOP STRATEGY & LEADERSHIP TRAINING

THE LEADERSHIP MATURITY MODEL

Explore other types of strategy.

BIG PICTURE WHAT IS STRATEGY? BUSINESS MODEL COMP. ADVANTAGE GROWTH

TARGETS MARKET CUSTOMER GEOGRAPHIC

VALUE PROPOSITION PRODUCT SERVICE PRICING

GO TO MARKET DISTRIBUTION SALES MARKETING

ORGANIZATIONAL ORG DESIGN HR & CULTURE PROCESS PARTNER

EXPLORE THE TOP 100 STRATEGIC LEADERSHIP COMPETENCIES

TYPES OF VALUE MARKET ANALYSIS PROBLEM SOLVING

OPTION CREATION ANALYTICS DECISION MAKING PROCESS TOOLS

PLANNING & PROJECTS PEOPLE LEADERSHIP PERSONAL DEVELOPMENT

• Sales CRM Software
• Application Portals
• Call Center CRM
• Mobile CRM App
• Omnichannel Communication CONVERSE
• Reporting Dashboard SIERA
• Lead Management System
• Opportunity Management
• Sales Process Automation
• Sales Tracking
• Door-to-Door Sales
• Remote Team Management
• Field Sales CRM
• Merchant Onboarding App
• App UI/UX Customizer CASA
• Outside Sales CRM
• Field Force Automation
• Collections Management
• Field Force Tracking
• Event Campaign Management
• Bancassurance Management
• Marketing Automation
• Chatbot - Website
• Chatbot - WhatsApp
• Landing Pages
• Email Campaigns
• Lead Capture Automation
• Lead Engagement
• BTL Marketing Automation
• Advanced Marketing Analytics
• Hospitals and Clinics
• Hospice and Palliative Care
• Fertility Clinics
• Dental Care
• Diagnostics Labs
• ACQUISITION
• Patient Intake Automation
• Patient Appointment Scheduling
• Healthcare Call Center Solution
• Patient Experience Management
• Self-serve Patient Portals
• EHR Integration
• Physician Empanelment
• Security and Compliance
• Patient Engagement
• Higher Education
• Pre-schools and K12
• Training Institutions
• Overseas Education
• Student Recruitment Software
• Admission Portal
• Teacher Onboarding
• Publisher Portal
• Admission Software
• Credit Unions
• Securities and Trading
• Lending CRM
• Loan Origination System
• WhatsApp Lending Bot
• Debt Recovery Automation
• Bancassurance Solution
• PAPERLESS ONBOARDING
• e-KYC Solution
• Video KYC Solution
• Merchant Onboarding
• Merchant Lifecycle Management
• Travel and Hospitality
• Agriculture
• Home Improvement
• View by Industries
• How to Calculate Sales Growth [Online Calculator, Formula, Examples]

Online Sales Growth Calculator

Enter the initial and final sales figures:

Sales growth is the most critical measure of a company’s success. It indicates whether a business is growing or declining. It also reflects whether the company is on track to hit its financial targets. Businesses invest a significant amount of time to ensure that their sales grows exponentially and we’ve collected all of their best practices and strategies for you!

This article also explains how to calculate sales growth and strategies to increase the sales growth rates for B2C and B2B businesses.

What is Sales Growth?

Sales growth is calculated by comparing current sales with previous years’ sales and can be expressed as a percentage or in absolute terms, such as dollars or units. 

It is a crucial sales KPI for businesses to gauge their overall financial performance and evaluate their future potential. It’s also an essential component of any company’s marketing strategy as it serves as a signpost for how well your business is doing. 

There are many different ways to calculate sales growth. But the most common method is to calculate the average annual sales growth rate (ASGR).

How to calculate sales growth ?

This method to calculate sales growth uses simple multiplication to calculate the amount of growth between two periods.

The formula for calculating sales growth looks like this:

For example, if your company generated $100 million in revenue this year, and $90 million last year, its sales growth rate would be 10%.

The positive sales growth rate indicates that your sales and revenues are growing. In contrast, a negative value shows that your sales and revenues are declining. It is also an alarm to take corrective measures before it’s too late.

You can also use this equation to compare two years or more. All you need to do is replace “current year” with “previous years” in both places in the equation.

Also, you may want to look at the sales growth rate month over month or quarter over quarter. In this case, use the above formula by changing the year to month or quarter.

The sales growth rate is one of the most important metrics that investors and analysts look at when evaluating a company’s performance. It indicates how much money a business is making and how much more it could make if given more time.

You can also use this online sales growth calculator to quickly check the state of your sales.

What is annual sales growth rate?

The average annual sales growth rate (ASGR) measures how much revenue increases each year over an extended period — typically five years — compared with the prior year’s total.

Formula to calculate ASGR:

Let’s take an example to understand this.

Consider the following table that illustrates the revenue earned and sales growth achieved.

For the above data, the ASGR would be:

(100+100-25+67)/4 = 60.5%

The average annual sales growth rate, also known as ARG, is essential for any business. It measures how fast a company’s revenue grows and provides valuable insight into its financial performance.

Now that we know how to calculate sales growth, let’s look at practical strategies to improve this metric. But since the sales growth depends a lot on your target segment and the industry you operate in, we’ve included strategies for both B2B and B2C sectors.

How to track sales growth?

Keeping a tab on your sales growth metric is essential for a sustainable growth. However, it may not be as easy as it may seem.

You may have different teams operating across different regions. Collecting sales numbers from them, validating them, etc., becomes tedious. Also, because your strategy will depend on the growth you aim and the historical data, it is crucial to monitor this metric closely.

A simple solution to this is Sales CRM software .

For example, LeadSquared. It lets you track revenue and sales based on:

• Sales owner
• Lead source

And many more criteria. It makes it easier for you to look into the past trends and prepare an expansion plan based on the actual sales insights.

Businesses generally struggle to quantify or set targets for sales growth since they don’t have a general benchmark to guide them.

What is a good sales growth rate?

To this, we would say—it depends on the company size, market and competition, and the growth you want to achieve in the said period.

Let’s deal with these aspects with examples.

• Company size : Smaller companies may experience a higher growth rate compared to larger ones. For example, a company increasing sales from $100 million to $120 million, experiences a 20% sales growth rate. In contrast, a company growing sales from $1 million to $2 million shows a 100% growth rate.
• Market and competition : Sales growth should be compared to the companies operating in the same region and catering to the same audience. For instance, comparing the sales growth of B2B and B2C companies doesn’t make sense. 
• Your sales goals : While you may aim to achieve a better growth rate than your competitors, it actually depends on your business goals. For instance, you may want to achieve a 200% sales growth rate in the APAC region. And accordingly, you’d plan your strategy. 

However, it’s important to achieve incremental growth for your brand’s success in the long run. 

Sales growth strategies for B2C

1. invest in membership programs.

Membership programs are a great way to get customers to pay you repeatedly. This will help you create a long-term relationship with your customers, leading to better retention rates and higher lifetime values .

The subscription model is one of the most effective ways to grow your business. It’s a highly flexible, cost-effective model that allows you to focus on the value you provide instead of thinking about how much money you’re making off each customer.

Subscription models are great for businesses because they allow people to pay regularly for something they use. For example, someone who uses Netflix or Spotify every day will pay $10 per month, which is much more than what they usually pay for a single movie ticket or album download.

This same principle applies to other types of businesses, whether it’s software, SaaS products, or even professional services like coaching and consulting services. The more customers rely on your product or service, the more likely they’ll be willing to pay for it regularly.

2. Direct selling can be pivotal

Direct selling is the most common approach, which involves directly communicating with potential customers through word-of-mouth or other marketing channels. 

For example,  door-to-door sales  in real estate or insurance can be effective for interacting with people. But this strategy can be expensive and time-consuming for companies and agents themselves.

It can be an effective strategy for B2C (business-to-consumer) businesses that sell a physical product or service. It’s also an excellent way for new companies to establish themselves before expanding into other marketing areas.

Direct selling is a critical part of their marketing strategy for many businesses. Direct selling involves face-to-face interactions with customers and prospects, usually at trade shows and conferences. 

These interactions allow you to build relationships with new customers, enhance your brand image, and generate sales-qualified leads by asking questions about their needs related to your products or services. In a way, it does what a  discovery call  would do in the case of  inside sales .

3. Onboard influencers & target social media for higher sales

Social media has become an important channel for businesses to connect with customers and drive sales. Companies need to create engaging content that resonates with their audience on social platforms such as Facebook, Instagram, Twitter, YouTube, and LinkedIn.

Influencers can help reach more people by sharing their posts on their profiles or even within custom audiences they’ve built over time.

Source: Social Commerce trends

They also significantly impact search engine rankings (SERPs). So, it’s essential to work with influencers who specialize in SEO-friendly content creation (like blogging) instead of just posting about your products on their channels without any context.

To grow your business beyond its current customer base, try co-creating content with other brands that align with your  sales goals . For example, if you own an apparel company, partner up with another brand that sells clothes to create an ad campaign or even produce a clothing brand presence .

Find new ways to sell old products by mining customer needs and preferences data. Then use that insight to improve  sales pitches  and close more deals. Consider product collaboration. Partnering with other companies can help you reach new audiences and get exposure for your products or services in new markets.

Create an email drip campaign that teaches customers about your product and what it does. However, make sure that you don’t push this off as a dull marketing tool. Make it fun and engaging! 

Another tip.

Use Sales CRM software to create automated email campaigns based on your lead segment and the stage they’re in. 

Sales CRM like LeadSquared allows you to nurture leads effectively through email, SMS, and WhatsApp communication. The communication can be triggered basis several activities like a page visited on a website, filling an inquiry form , clicking an ad, etc.

4. Partner with marketplaces or explore channel sales

Your products may not be available in all locations due to geographical restrictions or shipping costs and delivery time. Partnering with marketplaces like Amazon or eBay will allow you to reach a larger audience and sell more products online than you could alone as an individual merchant site or e-commerce store owner. You can also go through this Gorilla ROI blog to learn more about  what to sell on Amazon  and which tools to use for niche product research and analysis

Partnership with marketplaces is a convenient way to reach more customers without making additional investments in infrastructure or marketing campaigns. Moreover, it helps you achieve sales growth without having to manage multiple distributors. 

The growth rate of these marketplaces has been phenomenal in the recent years.

So, these are the measures you can take to improve your sales growth rate if you are in a B2C business.

If you target B2B customers, read on to the next section for some new ideas for sales growth.

Sales growth strategies for B2B

1. create highly effective sales enablement programs.

First things first: You need to understand what motivates your internal sales team and create a plan that aligns with their underlying needs. 

It won’t work if you try to push them into something they don’t truly want or need (and yes, they may not even know what they want). Instead, you should start by asking the right questions to uncover what matters most to each member of your team.

For example, you might ask them how often they would like to receive helpful tips. How often they’d like their manager to check in with them about their progress. Or how much time they’d like to spend on training before being cut loose on their own.

Sales enablement programs  are designed to help salespeople perform better in their roles. They’re often made up of learning tools and other resources, including coaching and mentoring programs. The goal is to equip your team with everything they need to succeed at their jobs — including the technology, tools, and knowledge required to meet your business goals.

The outcome is equally rewarding.

For instance, we asked sales professionals from different business verticals about the benefits they gain from sales enablement. 32% of them said they saw higher sales quota attainment rates, and 15% said higher win rates.

2. Look for expansion closer to the main company office

Many companies choose to expand into new territories because they think doing so will help them make more money. But this isn’t always true. Especially if the primary focus is on selling rather than providing services.

However, it may not hold true for SaaS or digital services companies. Still, you may have to face the cultural gap if you plan to expand across geos.

Therefore, expanding by opening new branches closer to your main office will help increase efficiency in operations and reduce the costs of running multiple offices across different locations.

3. Define your ideal customer profile

The first step in any successful B2B marketing strategy is understanding who you’re targeting. In other words, who is your ideal customer? 

You can’t sell to anyone. You have to sell to someone interested in what you’re selling and have the budget to buy it. So, before you start creating content or thinking about  social media strategies , make sure that you know exactly who your target audience is.

Who exactly are you trying to reach? What is their background? What do they care about? What motivates them? What are their pain points and desires? How can you get them? Defining your target market will help you develop strategies that resonate with your target audience and drive more sales.

This will guide you on what they want from you. It also allows you to tailor your messaging, content and offers to the needs of each persona.

[Read more about how to create your first customer profile ]

4. Use case studies to showcase successful business collaborations

Case studies help you showcase your expertise and why they should do business with you over anyone else in your industry.

These are also one of the most popular media used within content marketing strategies .

Case studies are especially helpful when targeting new markets or verticals. They’re evidence of your ability to work with other businesses in those industries and reference points for future clients who might be skeptical about getting into the collaboration.

Note that case studies need not be the typical documents. You can get creative with them.

For instance, you can produce a video case study. Video is more engaging than text and helps your audience connect with the subject matter. It’s also great for showing off the process of working with a client and the results that come from it.

Showing how well-known companies have used your solutions gives prospective customers more confidence in the results they can achieve with you.

Pro tip:  Share your case studies in your  email signature . This way, you’ll be able to share it with hundreds of people with whom you converse daily.

5. Focus on Account-based Selling

Selling to larger accounts can be challenging, but it’s also where many companies see the most revenue potential. To gain a foothold in these accounts, you’ll need to focus on one or more key decision-makers.

The key to account-based selling is identifying the right person or team within each account that is responsible for making purchasing decisions. You can do this by using a variety of tools and techniques, including:

• Analyzing purchase history data to identify repeat customers and prospects with similar buying patterns
• Using social media monitoring tools to identify key influencers within an account
• Employing predictive analytics software to analyze past sales performance and other data so you can predict which prospects are more likely to buy from you in the future

The goal is to have each team member working closely with a small number of essential buyers at each account. This approach can help you build strong relationships with key decision-makers and influencers and gain more reliable insight into what it takes to win their business.

Sales growth is not a one-size-fits-all formula. The road to sales growth must be carefully planned. The journey will undoubtedly be more rewarding when you track the growth metrics closely.

This article aims to briefly outline the sales growth strategies to focus on in the year 2023 so that every organization can be successful in its own right. I hope you found an answer to your growth plan.

If you’re looking for a tool to improve your sales growth rate, try LeadSquared .

It has helped brands across several verticals like Lending, Fintech, Edtech, Insurance, Education, Real Estate, and more regiment their sales processes and achieve multifold growth. Book a demo to explore the complete functionalities of LeadSquared.

In general, the ideal sales growth rate for businesses falls in the 15-25% bracket. But, smaller businesses generally have a higher sales growth rate, which can even go up to 75-100% for startups. And, larger businesses are able to sustain a growth rate of 5-10% in the long-term.

Sales growth depends on a few KPIs such as revenue growth, average revenue per account, customer lifetime value and many such parameters that indicate sales success. You can create dashboard on a CRM software such as LeadSquared to track sales growth in real-time.

To calculate sales growth you need to divide the change in sales success by the sales made in the previous period. You must have the accurate sales data from both periods (current and previous) to calculate it. Here’s the formula: Sales growth = [{(Sales in the current period – Sales in the previous period)/ Sales in the previous period} x 100]

Dhruv Mehta is a Digital Marketing Professional who works as a brand consultant and provides solutions in the digital era. In his free time, he loves to write about Marketing, SaaS & Workplace Insights. Follow him on Twitter or connect with him via LinkedIn.

Table of Contents

• Share on Facebook
• Share on Twitter
• Share on WhatsApp
• Share on LinkedIn

Want to see LeadSquared in action?

• Customer Portal
• Performance Management
• Dev Platform LAPPS
• Help Portal
• Pricing SALES
• Pricing MARKETING
• Education CRM
• Healthcare CRM
• Insurance CRM
• Banking CRM
• Real Estate
• Marketplace CRM
• Manufacturing CRM
• What is CRM
• What is lead management
• What is vendor management
• What is sales management
• Case Studies
• Guides & Blogs
• Compare CRM
• CRM Glossary
• Sales Glossary
• Media & News

GET IN TOUCH

(+1) 732-385-3546 (US)

080-46971075 (India Sales)

080-46801265 (India Support)

62-87750-350-446 (ID)

• Legal & Compliance

What should you look for in a CRM software?

Researched by Consultants from Top-Tier Management Companies

Powerpoint Templates

Icon Bundle

Kpi Dashboard

Professional

Business Plans

Swot Analysis

Gantt Chart

Business Proposal

Marketing Plan

Project Management

Business Case

Business Model

Cyber Security

Business PPT

Digital Marketing

Digital Transformation

Human Resources

Product Management

Artificial Intelligence

Company Profile

Acknowledgement PPT

PPT Presentation

Reports Brochures

One Page Pitch

Interview PPT

All Categories

Top 10 Sales Business Plan Templates with Examples and Samples

Taranjeet Singh

A well-crafted sales business plan is essential for any company that wants to succeed. But creating a great sales plan can be time-consuming and challenging. That's where sales business plan templates come in.

Sales business plan templates provide a pre-made framework that you can design according to your plan and thus saving you time and effort. Furthermore, it helps you ensure that your plan is comprehensive and well-organized.

The best business plan ppt are 100% editable and customizable. Change the images, colors, and text to match your company's branding. You can also add or remove slides as needed.

If your requirement is to create a great sales business plan, then a sales business plan template is the perfect solution. 

With the below-mentioned templates, you can quickly and easily build a plan to help you achieve your sales goals.

Let’s begin!

Template 1: Sales Plan Presentation Template

This content-ready PPT template focuses on helping businesses decide their mission, drive business growth, and cultivate repeat customers. This concise and informative PowerPoint presentation is designed to equip your sales team with necessary skills and knowledge to elevate your company’s growth. It provides you with valuable insights and strategies for achieving sales objectives, capturing new markets, and fostering customer loyalty. Elevate your sales approach with this dynamic presentation, available for download to maximize your business potential.

Download Now!

Template 2: Sale Action Plan PPT

Experience the transformative potential of our ready to use PowerPoint slide.  This meticulously crafted presentation is your key to unlocking sales success. With in-depth market analysis and strategic insights, it equips you with the required tools to optimize your advertising campaigns to make sales. Seamlessly navigate market trends and consumer behavior to enhance your brand's impact. To access this invaluable resource and drive your business forward, download our PPT. Embrace the power of data-driven decision-making and elevate your sales performance.

Template 3: Sales Strategy Plan PPT

Introducing our professional and appealing curated PowerPoint template. This is a top-notch PowerPoint template to you effectively outline and convey your sales strategy. With a visually captivating layout and content that effortlessly highlights your market analysis, target audience, competitive advantages, and action plans, leave a lasting impression on your audience. Unlock the power of persuasive presentations and grow your business to unparalleled heights. Download now!

Template 4: Sales and Marketing Plan for Business Growth PPT

This PPT delves into crucial topics of sales such as, goals, targets, strategies, measurement, and tactics. This dynamic presentation provides you with a roadmap to propel your business toward success. By defining clear objectives, identifying the target audience, devising practical strategies, measuring performance, and implementing tactical approaches, this plan ensures a comprehensive approach to sales and marketing. Download this insightful resource now to gain valuable insights and actionable steps to accelerate your business growth.

Template 5: Business Sales Growth Strategy Plan Model PPT

Leverage the power of our PPT, covering key topics such as products, strategy, customers, geographical segments, and distribution channels. It consists of different segments and tools to help you identify growth opportunities, develop strategies to capture them, and track your progress. It is a valuable resource if you want to increase your sales. Download this template today and embrace the path to sustainable growth.

Template 6: Sales Strategy of Business Plan PPT

This is a content-ready PowerPoint template exhibiting six-stage process to optimize your sales approach. With visually captivating graphics and intuitive design, showcase different stages of sales, including its process and strategy, market knowledge, science metrics, sales excellence and performance, sales skills, and customer knowledge. This actionable PPT slide empowers you to present your sales strategy with precision and impact. Enhance your presentations today and achieve sales success by deploying this PPT.

Template 7: Sales Strategy Business Plan Template 

Designed by our experts, this professional and visually appealing template offers a streamlined six-stage process to guide you through your sales strategy. Whether you're focusing on marketing, channels, advertising, collateral, or training, this template has got you covered. Its clean & modern design makes it perfect for showcasing your business plan to your clients or team members. Grab this powerful PPT today.

Template 8: Strategic Sales Growth Action Plan PPT

This comprehensive presentation showcases a roadmap for success, emphasizing the key components necessary to reach new customers and expand into untapped markets. With estimated cost analysis, projected sales figures, actionable steps, and achievable targets, this PPT provides you the blueprint for sales growth. Deploy this PowerPoint slide now to to unleash your organization's potential for unparalleled success. It's time to seize opportunities and fuel exponential growth in the competitive business landscape.

Template 9: Framework of Business Plan for Sales Growth PPT

Achieving substantial sales growth requires a well-structured business plan. This content-ready PowerPoint presentation outlines critical components essential for success. It covers vital topics, such as, business strategy, sales strategy, resource development, technology, and sales operations. Discover strategic approaches to optimize your business's growth potential and enhance sales effectiveness. Unlock valuable insights and actionable steps to drive revenue and maximize profitability. To access this informative presentation, download it now.

Template 10: Key Sales Action Plans for Business Growth Template

This ready to use template is designed to help you drive success and achieve exponential growth. Focusing on strengthening and developing your sales strategies covers essential stages such as planning, budgeting, expenses, and revenues. Harness the well-crafted sales plan and unlock your business's full potential. Download this invaluable resource to transform your sales approach and propel your organization toward unprecedented success.

A well-crafted sales business plan is a critical component for any organization looking to thrive in the market. By outlining clear objectives, strategies, and tactics, it provides a roadmap for success and empowers businesses to effectively navigate challenges, capitalize on opportunities, and achieve sustainable growth. Therefore, SlideTeam brings you a collection of content-ready and custom-made PPT templates as a valuable tool for organizations seeking to achieve their revenue targets and drive growth. Deploy these premium slides for setting goals, defining strategies, and implementing effective sales tactics. With careful execution and adaptation, the sales business plan template becomes a roadmap to sustainable sales success.

FAQs on Sales Plan

What is a sales business plan.

A sales business plan is a strategic document that outlines the objectives, strategies, and tactics a company will employ to achieve its sales targets and generate revenue. It serves as a roadmap for the sales team, providing a clear direction and structure to follow. A well-crafted sales business plan includes thorough market analysis, target customer identification, sales goals, budgeting, and sales forecasting. It also outlines the sales strategies, such as pricing, promotional activities, distribution channels, and customer relationship management. A sales business plan is a blueprint for success, helping businesses align their efforts and maximize their sales potential.

How Do I Write a Sales Business Plan?

Writing a sales business plan requires careful consideration and attention to detail. Here are essential steps to guide you:

• Define objectives: Clearly state your sales goals and desired outcomes.
• Conduct market analysis: Understand your target market, competitors, and industry trends.
• Identify target customers: Define your ideal customers and their needs.
• Develop sales strategies: Outline lead generation, customer acquisition, and retention tactics.
• Set sales targets: Establish measurable and achievable sales objectives.
• Create a budget: Allocate resources for sales activities, marketing, and sales team development.
• Develop a sales forecast: Estimate sales projections based on market analysis and historical data.
• Define sales processes: Detail the steps involved in the sales cycle and align them with the customer journey.
• Monitor and evaluate: Establish key performance indicators and review progress regularly.
• Adapt and refine: Continuously refine your plan based on feedback and market dynamics.

What are the 4 Common Sales Strategies?

Four common sales strategies used by businesses are:

• Consultative Selling : This approach builds solid customer relationships and understands their needs. Salespeople act as consultants, providing personalized solutions and guidance.
• Solution Selling : This strategy involves identifying customer pain points and offering tailored solutions. It requires understanding the customer's business and aligning product/service features with their needs.
• Relationship Selling : This strategy centres around developing long-term relationships with customers. Salespeople focus on building trust, providing exceptional customer service, and nurturing ongoing partnerships.
• Social Selling : With the coming of social media, this strategy leverages platforms like LinkedIn and Twitter to connect with customers, share relevant content, and engage in conversations that can lead to sales opportunities.

Businesses can effectively engage customers, differentiate themselves, and drive revenue growth by employing these sales strategies.

Why is a Sales Plan Important?

A sales plan is crucial for the success of a business for several reasons. Firstly, it provides the sales team with a clear roadmap and direction, ensuring everyone is aligned and working towards common goals. It helps set realistic sales targets and objectives, allowing businesses to measure progress and make necessary adjustments. A sale plan also aids in identifying and understanding the target market and customers, enabling businesses to tailor their sales strategies and approaches accordingly. Moreover, it assists in allocating resources effectively, optimizing budgeting and forecasting, and maximizing sales opportunities. A well-defined sale plan ultimately increases the chances of achieving sales targets, driving revenue growth, and outperforming competitors.

Related posts:

• Top 7 Sales Activity Report Templates with Examples and Samples
• [Updated 2023] Top 10 Business Strategy Google Slides Templates To Empower Your Team
• Top 10 Performance Metrics Samples with Templates and Examples
• Top 7 Sales Projection Templates with Examples and Samples

Liked this blog? Please recommend us

Must-Have Sales Brochure Templates With Samples And Examples

Top 10 Sales Best Practices Playbook Templates with Samples and Examples

This form is protected by reCAPTCHA - the Google Privacy Policy and Terms of Service apply.

Digital revolution powerpoint presentation slides

Sales funnel results presentation layouts

3d men joinning circular jigsaw puzzles ppt graphics icons

Business Strategic Planning Template For Organizations Powerpoint Presentation Slides

Future plan powerpoint template slide

Project Management Team Powerpoint Presentation Slides

Brand marketing powerpoint presentation slides

Launching a new service powerpoint presentation with slides go to market

Agenda powerpoint slide show

Four key metrics donut chart with percentage

Engineering and technology ppt inspiration example introduction continuous process improvement

Meet our team representing in circular format

How To Write a Business Plan in 9 Steps

Write your business plan with this step by step guide and take your idea into reality.

Salesforce Staff

Share article.

You have this amazing idea for a business. It’s been brewing for a couple of years now, and you’re finally ready to act on it. So, what’s your plan?

Like you, many people are preparing to start a business — and even some who have already started one — and fail to research and write a business plan that tests the feasibility of their idea. Some may think it’s a “waste of time.” They would rather wing it, stick with a pitch deck, or hope for the best.

But hope, unfortunately, isn’t a strategy for success. Writing a business plan and executing it kick-starts your road to success.

Here’s what you’ll learn:

Three reasons why you need to write a business plan Writing a business plan doesn’t have to be difficult How to write a business plan in 9 steps What’s left to do?

Three reasons why you need to write a business plan

If you haven’t considered writing a business plan until now, here are three key reasons why it’s a crucial tool when starting your business .

1. A business plan provides clarity

One of the easiest ways to gain clarity on your goals and brand message is to practice how you communicate them. Clearly describe what problem or need your business addresses and why it’s necessary for your target market. This strengthens your case when marketing and selling to your target audience.

It’s also useful when you need to apply for or raise funding for your small business. A clear picture of what your goals are will help you chart a course to deliver it as promised.

2. A business plan confirms the math

A lot of ideas sound great on paper or in casual conversations. But when you dive into the financials, such as how you plan to make money and how much it will cost, those ideas can fall apart.

Writing a business plan provides you with the space to create a financial model. It outlines the best- and worst-case scenarios that validate your idea’s worth.

3. A business plan establishes goals

Writing a business plan helps establish benchmark goals — those that are on your path to the main goal — and determine what you need for your success. Setting mini benchmark goals with deadlines for each month, quarter, and year provides you with short-term targets to focus on.

Nearly every plan for your business changes as the company grows. These benchmark targets ensure that your company is always moving forward.

( Back to top .)

Writing a business plan doesn’t have to be difficult

Creating a plan for your business can seem like an overwhelming project. Especially, if it’s your first business or you lack a background in finance or operations. Luckily, there are a number of resources available online, including Trailhead’s “ Salesforce Essentials for Small Business ” lesson, which helps you write a detailed plan. Your options vary based on your specific industry or product offering. However, all plans share a similar outline that you can follow when writing your own.

Below, we’ve put together a resource template for creating a thorough business action plan . Following a template allows you the opportunity to organize your thoughts and clearly present the plan to prospective partners, investors, or vendors. It can be a lot of trouble to start from scratch. Instead, try using this outline to draft a plan for your business and turn your napkin scribbles into a solid, well-researched plan that’s ready for financial investment.

How to write a business plan in 9 steps

Almost every detailed plan for a business follows the same framework. You can expand this however you’d like, but make sure these essential pieces are in place:

• Executive summary
• Company overview

Industry overview

• Market analysis
• Sales and marketing plan
• Business team

Operating plan

1. Executive Summary

Every thorough plan for a business opens with an executive summary that provides a brief description of the business, a mission statement, the products and services offered, and a summary of plans to succeed in the marketplace. If someone were to ask for a more involved version of your business elevator pitch, you’d recite your executive summary.

2. Company Overview

This is your napkin drawing on steroids. The company overview section is a snapshot of your business:

• Your business’s history
• A detailed list of products and services
• The physical location (if there is one)
• The problem/need your product or service addresses

Briefly touch on your target audience and how you plan to attract them (you’ll go into more detail later). This is only a snapshot summary for someone to grasp your idea and see the opportunity behind it. You also want to clearly define your company’s strategy for starting or growing in the marketplace.

3. Industry Overview

Your plan needs to address the industry as a whole, including relevant statistics, current trends, consumer demographics , and any external influences affecting the industry. Use this section to address how your business will fit into a specific industry and what (if any) subsections of the industry you will target.

4. Market analysis

Who will you battle for customers? The market analysis section requires you to validate that there is enough demand in the market for your business to both enter and grow. Research competitors in the industry, their market share, and how you plan to compete against them.

This is also a great opportunity to describe any industry barriers upon entry. You can explain how your company will establish itself — including your unique selling proposition — and share how the barriers will help protect your business from other startups or companies that want to go after your market share.

5. Sales and marketing plan

How will you execute your strategies and reach your goals? Your sales and marketing plan should clearly describe how you will grab the attention of busy consumers and persuade them to buy from your company. Use this opportunity to showcase your strengths, account for how your brand will stand out in the marketplace, and detail how you plan to build long-term customer loyalty for repeat business.

Don’t forget to describe your pricing strategy and how it compares to the rest of your market, as well as the advertising strategies you will use during your launch and first year.

6. Business team

Your business team section should focus on your business’s legal structure. Are you a sole proprietorship, partnership, corporation, or other type of business? Introduce your key team members such as managers, board members, and additional owners. Detail who owns what percentage of the company and each team member’s involvement in the business’s day-to-day operations.

7. Operating plan

Your operating plan gives insight into how your business will function on an ongoing basis and what daily operations will look like. The questions you’ll address in your operating plan may include:

• Will you have a physical location?
• What responsibilities will the management team shoulder?
• Do you have a customer invoice prepared?
• What expenses are related to running the business?

8. Financials

This is the money-making section, which can be an exciting part to investigate and budget. The financials portion of your plan may be the most important because it shows how your business will make money and grow over time. This section is even more crucial if you’re seeking outside financing or investors to help fund your startup.

Your financials should outline how your business will generate revenue and profit, and if necessary, how it will repay its loan or investors. Create monthly, annual, and three-to-five-year profit and loss projections and outline anticipated expenses.

9. Appendix

Close your business plan with an appendix that provides supporting documentation such as bank statements, employee bios, licenses, agreements, and business credit history. Think of it as your supporting research and reference documents.

What’s left to do?

Once you’ve outlined a plan for your business and gathered all the necessary research and documentation, it’s time to write it. By following this template, you should have no problem taking your great idea from a general concept to real life.

Your plan doesn’t have to be as long as War and Peace — it simply has to address each key point referenced above and show that your business addresses a need in the market. Then, after you finish writing your business plan, you can follow its guidance and get started on building your business.

Just For You

Generative AI Regulations – What They Could Mean For Your Business

AI For Small Business is Here — Get Ready With These Tips 

Explore related content by topic

• Small Business

The 360 Blog from Salesforce teaches readers how to improve work outcomes and professional relationships. Our content explores the mindset shifts, organizational hurdles, and people behind business evolution. We also cover the tactics, ethics, products, and thought leadership that make growth a meaningful and positive experience.

Get the latest articles in your inbox.

How to Write a Business Proposal for Small Businesses

Digital Marketing for Small Business: Here’s How You Can Do It

27 Top Sales Influencers You Should Follow in 2024

What Is an SMB and What Do You Need to Know to Be Successful?

4 Ways Your Contact Center Can Get Started With Generative AI

Email Marketing for Small Business: Here’s All You Need to Know

Can An AI Assistant Make Us Faster and More Creative? 

How Small Business Leaders Are Strategizing with AI, Data, and CRM

360 Highlights

Yes, I would like to receive the Salesforce 360 Highlights newsletter as well as marketing emails regarding Salesforce products, services, and events. I can unsubscribe at any time.

By registering, you confirm that you agree to the processing of your personal data by Salesforce as described in the Privacy Statement .

Thanks, you're subscribed!

New to Salesforce?

• What is Salesforce?
• Best CRM software
• Explore all products
• What is cloud computing
• Customer success
• Product pricing

About Salesforce

• Salesforce.org
• Sustainability

Popular Links

• Salesforce Mobile
• AppExchange
• CRM software
• Salesforce LIVE
• Salesforce for startups
• América Latina (Español)
• Brasil (Português)
• Canada (English)
• Canada (Français)
• United States (English)

Europe, Middle East, and Africa

• España (Español)
• Deutschland (Deutsch)
• France (Français)
• Italia (Italiano)
• Nederland (Nederlands)
• Sverige (Svenska)
• United Kingdom (English)
• All other countries (English)

Asia Pacific

• Australia (English)
• India (English)
• Malaysia (English)
• ประเทศไทย (ไทย)

© Copyright 2024 Salesforce, Inc. All rights reserved.  Various trademarks held by their respective owners. Salesforce, Inc. Salesforce Tower, 415 Mission Street, 3rd Floor, San Francisco, CA 94105, United States

Small Business Resources is now the Center for Business Empowerment.

Suggested Keywords

Center for Business Empowerment

11 strategies to grow your business

August 26, 2023 | 9 minute read

Written by Steve Strauss Founder MrAllBiz

The senior small business columnist for USA Today, Steve is also a brand ambassador with 20 years of experience and the author of 18 books, including his latest, Your Small Business Boom.

Once a business gets past the startup phase, it enters what is commonly considered the growth phase. Afterall, business is in fact about growth, and growth is most achievable and sustainable once the “growing pains” of the startup phase are over.

Consequently, mature businesses are always looking for ways to improve and grow. Here are strategies to consider as you plan for your business’s growth.

1. Hire the right people

Hiring the right employees  offers advantages to a growing business. For starters, you find people who know (or who can learn) how to do the job right. That alone is good for productivity, customer relations, your brand, and more.

In addition, when you bring on the right people, they bring to the table new skills and ideas that often can help drive innovation and growth. Additionally, good hires can aid in fostering a positive work environment and create a healthy company culture, which can help improve morale and reduce turnover.

The secret is to hire exceptional employees by offering a great compensation and  benefits package  with an equally great place to work. That way, you can be assured that when you post a job listing, top talent will apply.

2. Reduce risk

Risk is an inherent part of entrepreneurship and running a business. Taking out a loan, launching an expensive media campaign, hiring and firing – all involve risk to some degree.

Great businesses take risks, but they are generally calculated, smart risks. In fact, the best businesses look to reduce risk as much as possible because they know that, left unchecked, risk can hinder growth. As a business expands and takes on new challenges, the potential for unexpected problems and setbacks also increases. By reducing risk, your business can mitigate potential threats and minimize the impact of any unforeseen events.

There are several ways to reduce business risk:

1. Be adequately insured.   Your insurance may protect you from property loss, data breaches, theft of intellectual property, etc. Speak with your broker for more information.

2. Legally protect your intellectual property. Which includes website content, secret recipes, or the prototype of a new product. Meet with your lawyer to discuss.

3. Diversify your revenue streams.  By having multiple profit centers, you reduce reliance on any one product line, service offering, or big customer.

3. Build a sales funnel

A sales funnel starts with many  potential leads  at the top that filter to a smaller number of customers at the bottom.

A sales funnel process helps ensure growth because it works to turn those prospects at the top into buying customers at the bottom. For example, someone ends up on your website and looks at a product you sell but doesn’t buy. You could use retargeting ads that make sure prospects see your product and ads on other sites they visit. Or maybe they see the ad somewhere with a discount offered. The key is to move them from prospect to customer. Doing so is essential to growing a business.

Here are some steps that a business can take to build a sales funnel:

1. Define your market: Conducting market research  to understand your ideal customer is the first step in building a sales funnel. This will help you know who to target and how to target them.

2. Attract new leads: Attracting potential customers to your funnel involves creating awareness of your brand and products. This can be done through different marketing efforts such as pay-per-click ads, content marketing, follow-up phone calls and emails, and  social media marketing .

3. Convert those leads into customers: This can be done by learning about the prospect and their needs and working to help them – not sell them. Show them the benefits of their choice and offer incentives such as discounts.

4. Increase the customer experience

To better understand the meaning of “increasing the customer experience,” consider the difference between shopping at Nordstrom versus a run-of-the-mill retailer. Nordstrom empowers and encourages their employees to go above and beyond for their customers. Whether it’s keen attention to detail or fast service, the brand’s unwavering commitment to delighting customers is regarded as an industry benchmark for building long-lasting customer relationships and increasing customer satisfaction.

As such, if you want to grow your business, increasing your customer’s experience can really help because it not only fosters customer loyalty, but it can also directly lead to increased and repeat business. Moreover, satisfied customers are more likely to  recommend a business  to others, leading to new customers and increased revenue.

Here are some steps your business can take to increase the customer experience:

1. Listen to customer feedback: Regularly gathering and analyzing customer feedback is key to understanding their needs and wants.

2. Personalize the experience: Personalizing the customer experience can make customers feel valued and increase their overall satisfaction. This can be done by remembering customer preferences, or recommending products or services based on past purchases.

3. Provide excellent customer service: Providing truly excellent customer service can help build strong relationships with customers and increase customer loyalty. This can include responding promptly to customer inquiries, addressing concerns or complaints, and going above and beyond, exceeding customer expectations.

5. Extend to new markets

New markets mean new people become aware of your business. And that in turn, means new customers and more sales. So, how do you extend into new markets? Whether the market is offline or online, the process and considerations are similar:

1. Is the new market something that your business and team have expertise in, or can learn? New markets require time, money, and resources, so ensure the target market is one that you can excel in and one that will pay off.

2. Is the market conducive? That is, is there a market for what you want to sell? How much competition is there? Will it hurt or help your present business?

3. How much will it cost to enter this new market? The costs of entering a new market may look similar to your initial startup costs . Some potential considerations are incremental licensing and permitting fees, payroll for hiring new talent, new equipment and supplies, market research to know your new audience and budget to execute marketing strategies.

6. Expand your customer reach

Like expanding your sales funnel, expanding customer reach means increasing the number of potential customers that a business can reach through its marketing and sales efforts. This really is a matter of finding new customers who can enter your sales funnel.

Expanding customer reach can help a business increase its revenue by creating a new potential pool of customers. It can also help mitigate the impact of losing customers and economic downturns by diversifying the customer base.

There are several strategies your business can use to expand its customer reach, including:

1. Digital marketing: Use digital marketing tools such as  social media , email marketing, and  search engine optimization  (SEO) to find and reach new potential customers.

2. Partnerships and collaborations: Partner with other businesses or organizations to reach different customers and access new markets. One option to consider here could be  corporate sponsorship .

3. International expansion: Expanding into new international markets allows you to reach new customers and diversify your customer base. This is especially easy and affordable to do online.

7. Analyze your competitors

Analyzing your competitors is crucial for a growing business because it allows you to gain potentially crucial insights into both the overall market and the competition. This can help your business make informed decisions about its growth strategies, market positioning and target market. In addition, by analyzing and better understanding the competition, a business can identify its own strengths and weaknesses and tailor its approach accordingly.

Begin by visiting your competitors’ websites and social channels to help answer these questions.

• Who are they? What are they offering that is different, special, better even?
• What is their product line like?
• What is included in their About page?
• What do online reviews say about their products or services?

Also, be sure to observe the competition directly, for example by visiting their stores, attending events, or speaking with customers.

8. Attend / host networking events

For the growing business, networking offers a plethora of possibilities:

• It expands your reach to potential new customers
• It gives you opportunities to meet potential strategic or joint venture partners
• It results in more people learning about your business, thereby building your brand

And that, in turn, can generate more sales.

Networking can happen both in the virtual world as well as in the physical world. Virtually, groups related to your industry can be found on Facebook, LinkedIn, on industry websites and other similar places. MeetUp is also another good choice.

Offline, check with networking groups like Le Tip and chambers of commerce. Participation can include attending, speaking at and hosting events.

9. Sustainability

Showing your commitment to worthy causes can go a long way to creating a bond of loyalty with your customer base. Implementing sustainable business practices is your way of both sharing your values with the community and showing what you do to promote those values. For a company in the growth stage, it is a valuable way to increase your customers’ commitment to your business.

Sustainability can look many ways. You could donate a portion of your profits to causes you support. You could sponsor local events or teams. You could promote diversity and inclusion in your hiring practices. And you can enlist your employees by creating an internal sustainability committee to find ways to help the company grow market share and save money.

10. Invest in systems

Investing in Customer Relationship Management (CRM) software like Salesforce, accounting systems like QuickBooks, and automated payroll is important for a growing business because it helps improve efficiency and effectiveness. Automated, often cloud-based, systems can help a growing small business better manage its finances, employees, inventory and more.

By investing in these systems, a growing business can gain a competitive advantage and lay the foundation for long-term success. Indeed, adopting effective systems helps promote stability and scaling.

11. Strategic planning for the future

A growing business must look to the future, and plan for it. This is where strategic planning fits in. It is like creating a playbook for your company’s growth.

One way to do so is to incorporate what are known as SMART goals into your planning process. They help turn good ideas into concrete plans. SMART goals are:

1. Specific: clearly defined and specific goals allow a business to understand exactly what it wants to achieve.

2. Measurable: quantifiable goals make it easier to track progress and measure success.

3. Achievable: realistic and achievable goals take into consideration the resources and limitations of the business.

4. Relevant: goals that are in line with the overall vision and direction of the business.

5. Time-bound: Finally, goals with a defined deadline provide a sense of urgency and accountability.

Bottom line

Growing a business is a challenge, yes, but a very doable one. The trick is to find and adopt ideas that align with your business and purpose to ensure its continued growth.

Explore more

How to generate sales leads for your business

Getting started with word-of-mouth marketing

Important Disclosures and Information

Bank of America engages with Steve Strauss to provide materials for informational purposes only, and is not responsible for, and does not guarantee or endorse any of the third-party products or services mentioned. All third-party logos and company names mentioned herein are the property of their respective owners and are used under license from Steve Strauss.

Bank of America, Merrill, their affiliates and advisors do not provide legal, tax or accounting advice. Consult your own legal and/or tax advisors before making any financial decisions. Any informational materials provided are for your discussion or review purposes only. The content on the Center for Business Empowerment (including, without limitations, third party and any Bank of America content) is provided “as is” and carries no express or implied warranties, or promise or guaranty of success. Bank of America does not warrant or guarantee the accuracy, reliability, completeness, usefulness, non-infringement of intellectual property rights, or quality of any content, regardless of who originates that content, and disclaims the same to the extent allowable by law. All third party trademarks, service marks, trade names and logos referenced in this material are the property of their respective owners. Bank of America does not deliver and is not responsible for the products, services or performance of any third party.

Not all materials on the Center for Business Empowerment will be available in Spanish.

Certain links may direct you away from Bank of America to unaffiliated sites. Bank of America has not been involved in the preparation of the content supplied at unaffiliated sites and does not guarantee or assume any responsibility for their content. When you visit these sites, you are agreeing to all of their terms of use, including their privacy and security policies.

Credit cards, credit lines and loans are subject to credit approval and creditworthiness. Some restrictions may apply.

Merrill Lynch, Pierce, Fenner & Smith Incorporated (also referred to as “MLPF&S" or “Merrill") makes available certain investment products sponsored, managed, distributed or provided by companies that are affiliates of Bank of America Corporation (“BofA Corp."). MLPF&S is a registered broker-dealer, registered investment adviser,  Member SIPC , and a wholly owned subsidiary of BofA Corp.

Banking products are provided by Bank of America, N.A., and affiliated banks, Members FDIC, and wholly owned subsidiaries of BofA Corp.

“Bank of America” and “BofA Securities” are the marketing names used by the Global Banking and Global Markets division of Bank of America Corporation. Lending, derivatives, other commercial banking activities, and trading in certain financial instruments are performed globally by banking affiliates of Bank of America Corporation, including Bank of America, N.A., Member FDIC. Trading in securities and financial instruments, and strategic advisory, and other investment banking activities, are performed globally by investment banking affiliates of Bank of America Corporation (“Investment Banking Affiliates”), including, in the United States, BofA Securities, Inc., which is a registered broker-dealer and Member of SIPC , and, in other jurisdictions, by locally registered entities. BofA Securities, Inc. is a registered futures commission merchant with the CFTC and a member of the NFA.

Investment products:

• International edition
• Australia edition
• Europe edition

Ireland emerges from technical recession; Ocado CEO’s £15m bonus plan approved despite revolt – as it happened

Irish GDP returned to growth at the start of the year, while 19% of Ocado shareholders oppose pay policy that could give boss Tim Steiner a £15m bonus

• 7d ago Closing post
• 7d ago One in five Ocado shareholders oppose boss's £14.8m package
• 7d ago BHP and Vale propose $25bn reparations to settle Mariana disaster
• 7d ago Tesla shares jump 12% after Musk's Beijing trip
• 7d ago IMF's Georgieva hails falling eurozone inflation
• 7d ago German harmonised inflation rises to 2.4%
• 7d ago Spanish inflation rises after energy support cut
• 7d ago Ireland's technical recession over as GDP rises in Q1 2024
• 7d ago Eurozone economic sentiment weakens
• 7d ago Inflation picks up in some German states
• 29 Apr 2024 FTSE 100 starts new week with another record high
• 29 Apr 2024 Prices of flats increasing more sharply than other property types, says Halifax
• 29 Apr 2024 Knight Frank: house prices are once again under downwards pressure
• 29 Apr 2024 Introduction: Mortgage repayments up 60% since 2021, reports Zoopla

Ireland's technical recession over as GDP rises in Q1 2024

Newsflash: Ireland has escaped a technical recession, after its economy returned to growth this year driven by its IT sector.

Ireland’s GDP is estimated to have risen by 1.1% quarter-on-quarter in January-March, new data from the Central Statistics Office shows. Growth was driven mainly by an increase in the Information & Communication sector.

That follows a 3.4% tumble in GDP in the final three months of 2023.

Enda Behan , statistician in the National Accounts Data Collection and Quality Division , said:

“In today’s release, GDP is estimated to have expanded by 1.1% in Q1 2024 in volume terms when compared with Q4 2023. This was driven by an increase in the multinational dominated sector of Information & Communication in Q1 2024. GDP is estimated to have fallen by 0.8% when compared with the same quarter of 2023.

Ireland’s GDP fell in every quarter of last year, shrinking by 3.4% in Q1, 0.1% in Q2 and 2.5% in Q3.

But….GDP is not a very precise way of measuring the Irish economy, as it is dominated by multinational companies based in the Republic.

Ireland’s government favours another measures, called modified domestic demand , which excludes the large transactions of foreign corporations. Unfortunately we did not have new MDD data today.

Early estimates indicate that Gross Domestic Product (GDP) increased by 1.1% in Quarter 1 2024 https://t.co/Lp4kLgQkMY #CSOIreland #Ireland #NationalAccounts #Economy #Economics #EconomicIndicators #GovernmentFinances #EconomicActivity #Output #ValueAdded pic.twitter.com/UWxvVRT3Ry — Central Statistics Office Ireland (@CSOIreland) April 29, 2024

PS: The London stock market has ended the day at a new closing high, just.

The FTSE 100 index has closed for the night up 7 points, or 0.1%, at 8147 points. That’s its latest in a series of closing highs.

Earlier in the session it nudged a new intraday high of 8189.14 points.

Closing post

Time to wrap up… here’s today’s main stories:

One in five Ocado shareholders oppose boss's £14.8m package

Newsflash: Online grocery firm Ocado has been given a bloody nose by shareholders protest over its plan to give its CEO Tim Steiner a potential bonus of almost £15m.

But while one in five shareholders opposed the plan, it has been approved.

At today’s annual general meeting, 19.4% of shareholders opposed the approval of the Directors’ Remuneration Policy.

Another resolution, to approve the Ocado Performance Share Plan 2024, was passed with 80.62% votes in favour, and 19.38% against.

As we reported this morning, shareholder advisory group Glass Lewis had urged investors to vote against Ocado’s remuneration policy and performance share plan, citing “egregious remuneration practices”.

Campaign group ShareAction planned to ask Ocado’s board why it was comfortable proposing the multimillion-pound pay package for Steiner while “refusing to pay hundreds of its workers a real living wage of £12 an hour”.

Today, we're at @Ocado ’s AGM to ask the board of directors to pay ALL of its staff the real #LivingWage . Our campaigner Ruan is joined by AGM activist Danny. Hear what we’re asking of the company 🎬⏬ pic.twitter.com/u3tQAHJm7B — ShareAction (@ShareAction) April 29, 2024

Under Ocado’s pay plan, Steiner could receive a bonus worth up to 1,800% – or an “enhanced multiplier” – of his £824,570 base salary if its share price hits £29.69 in three years’ time and other performance targets are met.

Ocado shares hit £29 during the pandemic when online shopping surged, but have since fallen, trading at 357p today.

He would receive an award worth 600% of his base salary, or almost £5m, if targets for total shareholder returns and other performance measures are met but the share price goal is missed.

BHP and Vale propose $25bn reparations to settle Mariana disaster

In the mining sector, BHP Group and Vale are proposing a $25.7bn settlement over Brazil’s worst environmental disaster, the Mariana dam failure.

The collapse of the Fundão tailings dam in November 2015 killed 19 people, polluted a river and devastated livelihoods downstream of the Samarco Mariana Mining Complex.

The dam was co-owned by Vale and BHP , through their Brazilian joint venture Samarco ; they have been negotiating with the Brazilian State and Federal Government and other public entities.

Today, they say:

As part of the settlement negotiations, BHP Brasil, Samarco and Vale have submitted a non-binding, indicative settlement proposal which is within BHP Brasil’s provision for the Samarco dam failure. The proposal is for a total financial value of approximately R$127 billion (approximately US$25.7 billion) on a 100% basis with Samarco as the primary obligor and a 50% contribution from each of Vale and BHP Brasil as secondary obligors if Samarco cannot fund.

The new offer includes around R$37bn (US$7.7bn) already spent on remediation and compensation to date.

Tesla shares jump 12% after Musk's Beijing trip

Shares in Tesla have surged 12% at the start of trading in New York, recovering some of their recent losses.

Investors appear to be pleased with Elon Musk’s weekend work in Beijing, where he secured a deal for Tesla to use mapping data provided by web search company Baidu.

Tesla Shares Up 10.7% After Clearing Key Regulatory Hurdles for Self-Driving in China — DB News TradFi (@DBNewswire) April 29, 2024

That deal could be an important step towards Tesla introducing driver assistance technology in the world’s largest car market.

My colleague Jasper Jolly explains:

Baidu, which dominates web search in China, will provide mapping and navigation functions to help Tesla operate its driver assistance technology, which it calls “full self-driving”, or FSD , according to sources cited by Bloomberg News. Mapping services – crucial to driver assistance technologies – are strictly controlled by China’s government. Despite its name, FSD does not provide autonomous driving abilities: it requires a driver who has “hands on the wheel and is prepared to take over at any moment”. However, launching it in China could help Tesla in the fierce competition for market share in the country, and provide more income. It costs $8,000, or $99 (£80) a month, although it is not available in many countries.

As covered earlier ( 8.06am ), Musk also met with China’s premier, Li Qiang, during an unexpected trip to the Chinese capital.

Tesla’s shares are still down 25% so far this year, but have been recovering since mid-April when they sunk to around $140 each, amid concerns over slowing sales .

Kristalina Georgieva then warns that Europe is facing two problems – low growth and high debt.

She explains:

Problem one: growth . Our World Economic Outlook shows the global economy converging back to a rather weak trend rate of growth. Yes, the US economy still looks like it’s firing on all cylinders, but that is unlikely to last. In China, real-estate issues weigh on the outlook. In Europe, productivity growth lags behind, reflecting much less private investment in new technologies than in the United States. This is why we say it is vital to pursue structural reforms and scale-up innovation and investment. Europe needs faster productivity growth, and that means reforms—including transformational ones in the energy and digital arenas, and the completion of the single market.

🇪🇺🇺🇸💸⚡️- US economy does not have long to demonstrate high rates of its current activity -IMF head Kristalina Georgieva. “The US economy is still running at full capacity, but it is unlikely that this will last,” she said in her opening speech the budget conference. #EU - #USA — Millitary Nerd (@MilitaryNerdd) April 29, 2024

Problem two: debt. After two massive shocks—the pandemic and the energy-supply shock caused by Russia’s invasion of Ukraine—many countries are shouldering very heavy public debt burdens. This is why we say many countries must now pursue judicious, wellarticulated medium-term fiscal consolidation to rebuild buffers— appropriately tailored to country specifics, of course.

This is “not a great place” to start a big push to develop clean energy supply and fight climate change, Georgieva cautions, adding:

But let us be clear: if we do not win the fight against climate change, all of humanity together, we will all suffer.

IMF's Georgieva hails falling eurozone inflation

Over in Brussels, the head of the International Monetary Fund has welcomed signs that inflation is easing in the eurozone.

Kristalina Georgieva , IMF managing director, is addressing the Annual EU Budget Conference, and begins by hailing easing inflation.

Georgieva says:

The global environment. When we stare out at the horizon, what do we see? I see a hint of sunshine. But I also see a dull grey sky and some dark clouds. Let me start with the sunshine. After a global burst of inflation to levels many people have never seen in their lifetimes, it looks like the ECB’s tight monetary policy is doing its work. This is something I need to say carefully because it’s not over yet. But, yes, it looks promising: inflation down from its disturbingly high peaks and no deep recessions in Europe.

Georgieva then warns, though, that the forget though, that “the last mile can be the hardest” in the fight against inflation.

No longer will the major central banks be marching in lockstep, as they did during the recent ratehiking cycle. No. From now on, each currency zone will have to chart its own path. An interest rate divergence looms, and maybe some exchange rate movements too. We save the champagne for later.

Over at Heathrow Airport, members of Border Force have set up a picket line as a four-day strike in a dispute over working conditions.

The Public and Commercial Services (PCS) union said more than 300 of its members will take part in the industrial action, which started at 5am today and will continue until 7am on Friday.

The union said the workers, based at Heathrow’s Terminals 2, 3, 4 and 5, are protesting at plans to introduce new rosters they claim will see around 250 of them forced out of their jobs at passport control.

PCS general secretary Fran Heathcote said:

“It’s disappointing that, despite talks last week, the Home Office is not prepared to grant any flexibility to their new roster. “None of our dedicated and highly experienced members in the Border Force want to take strike action but the way they’ve been treated by their employer leaves them with no option. “The Home Office still have time to prevent tomorrow’s strike if they agree to abandon this unworkable new system.”

German harmonised inflation rises to 2.4%

Just in: German inflation rise slightly this month.

On an EU-harmonised basis, German consumer price inflation rose to 2.4% this month, up from 2.3% in March.

On a non-harmonised basis, though, German inflation was flat at 2.2%, with services inflation slowing to 3.4% but goods inflation rising to 1.2%.

Core inflation, which strips out food and energy, eased to 3% in April from 3.3% in March.

German CPI data comes in slightly below expectations: • CPI inflation comes in at 0.5% MoM and 2.2% YoY (vs 0.6% MoM and 2.3% YoY expected) in Apr, unchanged from Mar. • Core CPI inflation eases from 3.3% YoY in Mar to 3.0% YoY in Apr. • Services inflation at 3.4% YoY (prev… pic.twitter.com/nhsL62LdU2 — MTS Insights (@MTSInsights) April 29, 2024

Spanish inflation rises after energy support cut

Inflation in Spain has risen, as Madrid’s government cut back support for energy bills.

Spanish consumer price inflation rose to 3.3% per year in April, up from 3.2% in March.

Inflation was pushed up by gas prices – which rose this month but fell in April 2023 – after Spain’s government stopped measures taken to ease rising inflation after Russia’s invasion of Ukraine two years ago.

Spanish inflation accelerates as government energy aid removed https://t.co/yGzUN2VzpN pic.twitter.com/o4NuW9GMUH — Zoe Schneeweiss (@ZSchneeweiss) April 29, 2024

Food prices also rose.

Core inflation, which strips out food and energy prices, fell to 2.9% from 3.3% in March.

This data, and Germany’s CPI report due in half an hour, will feed into the latest eurozone inflation data due at 10am tomorrow.

Ireland’s return to growth is a sign that tomorrow’s eagerly-awaited eurozone GDP report may bring good news.

Economists predict the eurozone returned to modest growth in Q1 2024, after shrinking slightly in the second half of last year ( GDP fell by 0.1% in both Q3 and Q4 2023 ).

Ireland’s 1.1% growth, and the 0.3% recorded in Belgium this morning , will help that return to growth.

Analysts at Investec said last Friday:

Recent revisions now mean that the Eurozone was in a technical recession in H2, albeit by the slimmest of margins. Given that economic data at the start of 2024 has been more positive, we expect the Eurozone exited that recession in Q1, with a 0.1% quarterly expansion in output.

Ireland’s economy partially rebounded in the first quarter, a gain that may have helped the euro zone as a whole exit a shallow recession https://t.co/PuXte7ZQaY — Bloomberg Economics (@economics) April 29, 2024

Eurozone economic sentiment weakens

Just in: economic sentiment has fallen marginally in the EU and the euro area, as Europeans fret about their employment prospects.

The Economic Sentiment Indicator declined in the EU (by 0.3 points to 96.2) in April, and by more within the eurozone (where it fell by 0.6 points to 95.6).

The employment expectations gauge fell slightly more sharply.

Confidence among industrial firms, and among services companies, both fell; consumer confidence inched up, but remained in negative territory.

Within individual countries, economic sentiment deteriorated significantly in France (-4.8 points) and more moderately in Italy (-1.3 points), while it improved markedly in Spain (+2.3), Germany (+1.5) and Poland (+1.5).

The ESI remained broadly stable in the Netherlands (rising by 0.3).

Tomorrow we learn whether the eurozone returned to growth, when GDP data for the first quarter of 2024 is released….

Belgium’s economy has continued to grow at a modest pace, new data from its central bank shows.

Belgian GDP rose by 0.3% in January-March, the fourth quarter in a row in which a 0.3% expansion was recorded.

Both industry and services grew by 0.3%, while the construction sector shrank by 0.2%.

Sweden’s economy has shrunk for the fourth quarter in a row, leaving it in recession.

Swedish GDP shrank by 0.1% in the first quarter of 2024, Statistics Sweden reported this morning.

Mattias Kain Wyatt , economist at Statistics Sweden , says:

“Swedish economic activity continued to weaken in the first quarter of 2024 with contractions in the months of February and March. This is the fourth consecutive quarter with negative growth.”

Marc Ostwald, chief economist & global strategist at ADM Investor Service, says the data is much weaker than expected.

Sweden’s economy is in a poor run; GDP contracted by 0.8% in April-June 2023, then by 0.3% in July-September 2023, followed by a 0.1% contraction in October-December.

• Business live
• Stock markets
• Housing market
• Real estate

Most viewed

We've detected unusual activity from your computer network

To continue, please click the box below to let us know you're not a robot.

Why did this happen?

Please make sure your browser supports JavaScript and cookies and that you are not blocking them from loading. For more information you can review our Terms of Service and Cookie Policy .

For inquiries related to this message please contact our support team and provide the reference ID below.

• Alignment Healthcare-stock
• News for Alignment Healthcare

Alignment Healthcare Is 'Differentiated With Durable Long-Term Growth Trajectory' In Challenging Medicare Advantage Environment: Analyst Says

On Thursday,  Alignment Healthcare Inc  (NASDAQ:ALHC) reported a first-quarter EPS loss of $(0.25), up from $(0.20) a year ago, missing the consensus of $(0.22).

The company reported sales of $628.6 million, up 43.1% Y/Y, beating the consensus of $595.13 million and the management guidance of $590 million-$600 million.

The medical benefits ratio based on adjusted gross profit was 90.9%.

Health plan membership at the end of the quarter was approximately 165,100, up 50.5% Y/Y.

Guidance:  Alignment Healthcare expects Q2 revenues of $625 million—$635 million versus the consensus of $608.65 million.

The company raised its fiscal year 2024 sales outlook from $2.38 billion—$2.41 billion to $2.495 billion—$2.525 billion, compared to the consensus of $2.41 billion.

Health Plan Membership is expected to be 167,000- 169,000 at the end of the second quarter and between 170,000-172,000 at the end of the fiscal year 2024 compared to the prior guidance of 162,000-164,000.

William Blair  says the first quarter print is favorable, starkly contrasting to what other larger Medicare Advantage (MA) plans are reporting, especially regarding overall medical benefit cost trends versus guidance.

The analyst notes that Alignment reported largely stable cost trends, including inpatient admissions per thousand, tracking slightly below historical performance at 151 versus a historical range of 155 to 165.

Looking forward, William Blair writes that investor sentiment remains challenging for MA-focused operators due to the mixed utilization environment and a disappointing final rate update for calendar 2025. 

“We continue to believe Alignment is differentiated in the market with a durable long-term growth trajectory. Importantly, we also continue to view the management team as highly thoughtful, strategic, and focused on winning in all the company’s key markets,” William Blair writes.

William Blair reiterates the Outperform rating with shares trading near the low end of managed care peers.

Price Action:  ALHC shares are up 23.40% at $6.49 at last check Friday.

Photo Vlad Deep for Unsplash

Alignment Healthcare News MORE

Related stocks.