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Commercial strategy

This page is dedicated to implementing a commercial strategy. Before we begin, you may be wondering, “What is a business strategy?” Defined as a set of means used to promote your business, commercial strategy is made up of market studies, competitive analysis and many other measures leading to an effective action plan to achieve your objectives. .

Do you want to know how to define a sales strategy? We will present the important steps for effectively implementing a commercial strategy.

The start of a commercial strategy: Market Analysis

Any good business strategy begins with a market analysis. Generally done internally, it is possible to call on an agency to obtain an audit bringing together several market analyses.

Analyze the market: identify its current state and developments

To begin, you must do a market analysis, which will answer certain issues:

  • What market are you going to expand into?
  • What is your current catchment area, do you want to aim further?
  • Is the market evolving? What are the changes?

Market analysis will reduce your risk of failure for your business. We recommend producing this type of content when you want to launch your business and need a bank loan.

Analyze demand in your market

Next, after determining the market your business operates in, you need to determine what exactly the customer wants. In short, this second analysis of your commercial strategy serves to paint a portrait of the typical customer through a persona. Here again you must answer specific questions such as:

  • How many potential customers are there in your market?
  • What motivates your customers?
  • What encourages customers to purchase the product?

Analyze the offers present in your market

This third analysis allows you to determine what offer you will put in place to stand out on the market. You must therefore list the offers made by the competition and understand why they are put in place. On this occasion, you must answer the following questions:

  • Who are the competitors in your market?
  • What products are offered by the competition?
  • Who are your main competitors?
  • Are customers satisfied with the current offering?
  • What are the competition's means of communication?

Macro-environment Analysis (PESTEL)

First, a macro-environment analysis will serve to complete your market analysis. You must take into account all the elements that constitute the place in which your business will be located. We recommend the creation of a PESTEL diagram in order to summarize all the elements that must be taken into account.

We find our friend Marshall from the series “How I Met Your Mother”, a fan of graphs and matrices. Today, he presents PESTEL, a tool for synthetically analyzing your macroeconomic environment.

Identify the target of your commercial strategy

Once the market analysis is completed, you can now identify your target which will be at the heart of your commercial strategy. Follow the 3 steps below to determine the type of customer most relevant to your offer.

Segmentation

During this process, you will carve out your target market. The objective is to have several groups which will be very useful for your commercial strategy. So in order to have precise results, you have several ways to segment your market. Generally, the two most selected data are age and gender.

Targeting

During this stage of your commercial strategy, you will rely on your segmentation to define primary and secondary targets. Think of this as choosing your target audience as well as profiles that may be potentially interested in your product/service.

Choose the position of your company or its offer

Finally, for your commercial strategy, positioning is a question of space. First, it is the place that your company will take in the minds of consumers vis-à-vis the competition. Second, positioning will define the place that your company will occupy in the market. And how do you want consumers to perceive you.

Be like Rambo, be determined. Hit your target! Not with an explosive arrow, but with an offer he can't refuse...

Setting the objectives of your commercial strategy

Use the SMART method

Setting your objectives will allow all stakeholders to invest in a common goal. In order to best establish your objectives, we recommend using the SMART method. Indeed, this method implies that each chosen objective can be specific, measurable, achievable, realistic and temporally defined.

Prioritize objectives

Next comes prioritizing your objectives which is a crucial step in creating your business strategy. Particularly to give clarity to your team and direct your team's efforts in one place. This logic will allow you to use your resources more efficiently and not allocate human resources unnecessarily. The motivation of your teams can also be affected by the prioritization of objectives, therefore this step must be seriously taken into account.

Set short-term and medium/long-term goals

This step follows from the previous one. Indeed, prioritizing your objectives and ensuring that they are SMART will allow you to know if they are achievable in the short, medium or long term. This process will give a feeling of progress allowing you to see whether YES or NO your commercial strategy is moving forward.

Track the progress of your business strategy objectives

In a business strategy, some goals are longer than others. Having detailed monitoring of the progress of each of your objectives is essential to the achievement of your strategy. The longest objectives can be reviewed during meetings to see progress. This type of method will also help you modify your requirements or redirect efforts according to the needs to achieve certain objectives.

But here it is, it’s our friend Marshall from the series “How I Met Your Mother” again! This time to tell us that following your commercial strategy will allow you to progress on your objectives.

Implement a communications strategy

A good commercial strategy goes hand in hand with a communication strategy. We are not going to reinvent the wheel on this page and instead invite you to consult the pages dealing with branding and the creation of showcase websites.

Monitor your commercial strategy

In order to have a global vision of all of your strategies, we recommend setting up a CRM (Customer Relationship Management). This tool is very complete, it allows in particular to share information between salespeople, but also to detail projects and know their progress.

So, to learn more about this subject and optimize your commercial strategy, we invite you to consult our page dedicated to CRM.

Collect your data and adjust your commercial strategy

In conclusion, business strategy is an important set of means to put in place so that your business can prosper. Now, relying on a good commercial strategy is no longer enough. Indeed, you must also organize your resources so that you can put in place the resources necessary for your strategy to function properly. We recommend that you call on a team of professionals to establish the right steps to follow to achieve your goals!

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