Michael Field’s Post

Are you the business owner or leader of a mid-sized distribution or manufacturing business in Australia or New Zealand? Are you seeking new ways to drive revenue, margin, and market share? Do you feel that you have a unique product, selling proposition or value proposition that is either not: - effectively communicated by your sales team or; - properly understood by your customers? Finally, do you have a committed leadership team, an aggressive growth target, and a deadline? If all of the above sounds like you, follow our company page EvettField Partners Pty Ltd or get in touch with Michael Field Our promise to you is that if we can’t help you map a plan to achieve your business goals, we will refer you to a trusted partner from our Approved Supplier Network who may be a better fit for your needs. FREE* initial 30 minute consultation for qualifying customers. *Business owner or leader of a mid-sized distribution or manufacturing business in Australia or New Zealand #B2B #marketing #StrategySnapshots™️

Our promise to you is that if we can’t help you map a plan to achieve your business goals, we will refer you to a trusted partner from our Approved Supplier Network who may be a better fit for your needs. FREE* initial 30 minute consultation for qualifying customers. *Business owner or leader of a mid-sized distribution or manufacturing business in Australia or New Zealand #B2B #marketing #StrategySnapshots™️

Creating a sales plan can feel overwhelming, but it’s essential for driving results! 🚀 When I first started my career in sales, I thought a good product would sell itself. However, I quickly learned that a well-structured plan is key. Here’s how I approach it: 1. **Set Clear Goals**: Define what success looks like in terms of sales targets. 2. **Understand Your Audience**: Research and identify your ideal customers' needs. 3. **Develop Strategies**: Create actionable steps to reach your goals, whether through digital marketing or networking. 4. **Track Progress**: Regularly review your plan’s effectiveness and adjust as needed. What’s your top tip for creating a successful sales strategy? Let's share our insights! 📊 #SalesStrategy #BusinessGrowth #SalesPlan #SalesSuccess #Entrepreneurship #CustomerInsight #GoalSetting #Marketing #BusinessDevelopment #SalesTips #Strategy #Networking #Performance #SalesTraining #LeadGeneration #SalesLeadership #SalesProcess #B2B #B2C #SalesGoals #SalesManagement #SalesTeam #GrowthMindset #InnoBotZ #Teamwork #LinkedInTips #SalesAchievement #ResultsOrientated #SalesTechniques #SalesHacks #Innovation #SalesPerformance

Innovative Sales Strategy

While flipping through "The McKinsey Way" a chapter titled "Sell without Selling?" jumps out..”Wait, what?" It got me thinking! As a sales consultant, should I be pushing offerings or building connections? The book talks about how McKinsey folks don't "sell" in the usual way. They build relationships, offer smart solutions, and become trusted advisors. Clients, impressed by their expertise, naturally come to them when they need help. Sounds great, right? But for us startup consultants, it's not that simple. We need to get our name out there and convince people we're the answer. Here's where the "selling vs. marketing" debate gets interesting. Cold calls and emails, often seen as pushy sales tactics, can be reframed as marketing tools.We can use them to educate clients about potential problems, tailor solutions just for them, and show them how we can be the missing piece they've been looking for. It's not a direct sell, but it can spark their interest and get us that important first meeting. But our efforts shouldn't stop there. Building relationships with former colleagues and clients, sharing valuable insights through engaging newsletters and social media posts, and even fostering connections with competitors – all these contribute to building brand awareness and establishing ourselves as trusted advisors. The truth is, there's no one-size-fits-all answer to the "selling vs. marketing" conundrum. It's all about adapting to each situation and client. By constantly learning and improving both our selling and marketing skills, we can ace sales consulting and build relationships that lead to long-term success. Remember, it's not about forcing a sale; it's about building trust and becoming a valuable resource for our clients. And that, in itself, is a powerful form of "selling without selling." #salesstrategies #themckinseyway #personalbranding

#snsinstituion #snsdesginthinking #snsdesginthinkers Business development refers to the activities and strategies undertaken by an organization to stimulate growth, improve performance, and expand its reach. It focuses on identifying and capitalizing on opportunities that can bring value to the business, such as new markets, products, or partnerships. Business development is a multifaceted discipline that encompasses various aspects of organizational growth. It involves not only the identification of potential opportunities but also the implementation of strategies to maximize their potential. By leveraging market research, networking, lead generation, relationship management, and negotiation, businesses can effectively navigate the ever-changing business landscape. 1.1 - Definition of Business Development Business development can be defined as the process of creating long-term value for an enterprise through establishing relationships, exploring new markets, and developing innovative strategies. It goes beyond traditional sales and marketing activities, focusing on long-term growth rather than short-term gains. At its core, business development is about creating sustainable competitive advantages. It involves understanding the needs and preferences of customers, identifying market trends, and aligning organizational capabilities to meet those demands. By doing so, businesses can position themselves as industry leaders and drive sustainable growth.

Dominating the B2B market requires a strategic approach, and understanding your market penetration strategy is crucial for the salespeople to align their field sales activities. In my long career of managing B2B solution sales, I was part of many situations that required different market penetration strategies. I used the “6P Market Penetration Mix” very effectively. The 6P Market Penetration Mix suggests six possible strategies for B2B solution selling. The 6P’s are – Push, Pull, Profit, Performance, Price & Place. Let me detail it out as under: 1.      Pull Strategy for Customer Focus: Maximum customer needs are met with wide range of products; Maximises revenue; Sell through channel partners for maximising market penetration 2.      Push Strategy for Solution Focus: The offering basket is limited. Differentiation strategy is main reason for sale. Direct sales channel is preferred GTM strategy. 3.      Profit Strategy for EBIT Focus: Limited range of high profitable products; revenue is secondary; competition is limited; range is extended by upward and downward acquisition. 4.      Performance Strategy for Market Expansion Focus: The solution strategy is to deliver best value to customer; improve brand perception; low cost of customer retention; product range is enhanced to gain market share. GTM may be both direct and in-direct sales channels. 5.      Price Strategy for Market Share Focus: The offerings are very aggressively priced to eliminate key competitors and increase market share. This strategy is continued till it is profitable. 6.      Place Strategy for Coverage Focus: Focus is to comprehensively cover large geography or big customer segment. It allows volume benefits & low customer acquisition cost. If one have multiple product lines, different multiple P’s can be used to overcome competition effectively. DM me OR Write to me at [email protected] for devising your field sales strategy. Kindy ensure that you follow me on LinkedIn for daily insights on how to overcome sales challenges and to simplify selling.   #salesforesight #b2bsales #sales #salesstrategist #salescoaching #salesenablement #salesexcellence #salesconsultant #salesdevelopment #SalesStrategy #salesintelligence #salestrainer #salescoach #salesmentor #productivity #leader #b2b #startup  #Management #Entrepreneurship #Leadership

Crafting a sales plan that truly delivers results is crucial in today’s competitive market. 🏆 Reflecting on my own experiences, I’ve learned that a successful sales strategy combines understanding your target audience, setting clear goals, and constantly measuring performance. It’s not a “set it and forget it” approach! 🚀 Regularly revisiting and adjusting your tactics is key to ensuring you stay aligned with market needs. 🔍 Ask yourself: 1. Who is my ideal customer? 2. What specific goals am I aiming to achieve? 3. How will I measure my success? By addressing these questions, you can create a dynamic sales plan that drives growth and fosters adaptability. 💪 What strategies have you found effective in your sales planning? Share your insights in the comments! #salesplan #growth #strategy #business #sales #marketing #goalsetting #success #customerfocus #measurements #results #salesstrategy #adaptability #inspiration #leadership #performance #teamwork #entrepreneurship #innovation #tactics # salesresults #smallbusiness #salesdevelopment #B2B #salesgoals #customerinsights #planning #businessgrowth #salesforce #InnoBotZ

Business development (BD) is the process used to identify, nurture and acquire new clients and business opportunities to drive growth and profitability. It comprises a set of strategies and actions to grow a business via a mixture of sales, marketing and networking. Business Development Process Involves: 1. Market Research: Performing in-depth market research is the initial stage of business growth. It enables you to make more informed business decisions by improving your understanding of both your clients and competitors. It's like a map that shows businesses where to go and how to navigate the competitive landscape. It also helps in guiding companies through the shifting landscapes of consumer needs and competitive dynamics. It illuminates the path to strategic growth by uncovering insights and opportunities in the marketplace. 2. Raise Visibility and Awareness: In order to boost business growth, you should use targeted marketing to increase exposure, interact with the community to increase awareness, and share insightful content to increase brand awareness. This increases awareness, draws in new clients, and promotes development and progress. 3. Promote through Leadership: This involves encouraging teams to develop and innovate as well as cultivating a vibrant culture in which every individual contributes to the success of the firm. It entails giving people the confidence to take on obstacles, lead change, and grasp opportunities in order to eventually move the business toward its objectives with direction and vision. 4. Conduct Outreach: Outreach is the most crucial phase in the business development process. In order to build relationships and spur business growth, it entails identifying the target audience, creating messages specifically catered to their needs, and actively interacting with possible customers or partners via a variety of channels, including cold calls, emails, networking events, and social media. 5. Qualify Leads: The next stage after obtaining leads via outreach is to qualify those leads by determining which prospects have the best chance of converting and differentiating good prospects from those that are less likely to become sales. 6. Provide Exemplary Customer Support: Exceptional customer service acts as a potent magnet, attracts new business, keeps existing clients satisfied, and encourages them to return. It fosters long-term success by increasing trust, loyalty, and positive word-of-mouth, which eventually boosts profitability and reputation. 7. Develop sales content from success stories: By presenting actual outcomes, creating sales content from success stories builds credibility and trust. It also offers specific illustrations that effectively motivate and persuade potential clients. #BusinessDevelopment #BD #BusinessGrowth #BusinessStrategy #Networking #DigitalMarketing

These two strategies helped drive the efficiency of TMG. (Taxmantra Global) by 70% . Imagine you have a sales team. You can give them two goals: 1. Generate $1 million in new revenue. 2. Secure 50 qualified leads. Which is more effective? Option 2 is better. Here's why: 1. By focusing on qualified leads, you can measure your team's progress. 2. You can adjust your tactics if lead generation falls short. When it comes to measuring sales performance, a key question arises: what's more important, the MBO (Management by Objectives) or the MBA(Management by Action)? MBO represents the execution and tactics you use to drive sales, while MBA reflects the final goal – revenue generated. Measuring  MBO matters because they're measurable and specific, tracking progress and enabling adjustments. They drive real results as the foundation of sales, directly impacting deal closures. Relying only on revenue (MBA metrics) has drawbacks: predicting lead value is tough, and external factors affect conversions. Focusing on MBO lets you control your sales process and drive better outcomes. In essence, prioritising leads empowers entrepreneurs to optimise sales efforts effectively. Management by Objectives:  > Goal Setting: Collaborative process to define clear, achievable objectives aligned with organisational strategy. > Participation: Involvement of employees fosters ownership and commitment. > Continuous Monitoring: Regular review and adjustment of progress towards goals. >Performance Evaluation: Assessment based on achievement of defined objectives. Management by Action:  > Standard Setting: Establishment of performance benchmarks in advance. > Exception Identification: Focus on significant deviations from set standards. >Corrective Action: Prompt response to address issues and realign performance. >Efficiency: Effective allocation of time and resources by focusing on exceptions. The key differences lie in their approach. MBO is comprehensive and employee-centric, while MBA is targeted and manager-driven. At TMG, mixing both approaches works great. We set clear goals, monitor performance, and fix issues fast for growth. Which approach do you find more effective in your organisation? #growth #business