These days, entrepreneurs have more ways than ever to sell their products or services, including directly to consumers online. The trick is to identify which selling strategies will yield the right mix of profits and market share. While using direct sales methods enables you to pocket more of the margin and establish direct connections with your customers, indirect sales methods can spread your products far and wide quickly and help your brand gain a foothold fast.
In this course, we will walk you step by step through a framework for creating a robust selling strategy for your business. From looking at your competition to making sure each selling model you choose is financially feasible, we will provide you with insights that will guide you towards making the right decisions around selling for your business.
Importance of Selling Strategies
No sales means no customers, which means no company. Selling your products and services is essential! In this course, Ken provides an overview of direct and indirect selling models and tips for how to choose the right models for your particular business. Direct selling models include retail, catalog/direct marketing, direct sales, and network marketing, whereas indirect selling models include 3rd party distributors, resellers, partners, manufacturers' reps, OEM or white label, and licensing.
Creating a Selling Strategy Framework
Sales is all about the hustle. This video provides an overview of the framework used for choosing selling models; it begins with choosing your models, examining what the competition is up to, then examining your costs and checking for consistency between your business strategies and selling models, and solidifying the models you'll use.
Step 1: Determine Your Selling Model
The first step is determining which selling model (or models) are optimal for your business.
Here is a list of the eight different selling models:
- Online / Direct to Consumer
- Direct Sales (Inside and outside sales)
- Manufacturers Rep / Independent Rep
- OEM / White Label
For detailed information on each of these eight selling models, please watch our course called, "Determine the Optimal Sales Channel for Your Business". This course goes through in-depth the eight selling models and looks at the following:
- Why you would use that channel
- Keys to success
- Examples of popular companies using these channels
- Financial considerations
- How to measure success
If you don't want to watch the course mentioned above, we have included detailed information on each of the channels in your course guide.
Step 2: Analyzing Your Competition
When building a robust selling strategy, you must understand what your competitor is doing. This is a great starting point when deciding the best model or models for your business to use.
Step 3: Examine the Costs
Most entrepreneurs miss this step. Sales channels are expensive, so you need to know the economics around each one of them. This video will help you understand that.
Step 4: Internal Consistency
Making certain your selling strategy is consistent with all your strategies is wildly important. All your strategies must work together in order for you to be effective.
Step 5: Creating Your Selling Strategy
Part of selecting effective selling strategies involves analyzing what your competition is doing with their sales models, as well as looking at what it will cost you to sell your product. It's important to assess the financial impact your selling models will have on your revenue as well as what model you choose. This video walks through methods for studying your competition's sales approaches, from what they do best to sales opportunities they may be missing, as well as cost considerations.
Our worksheets and exercises will enable you to identify the sales techniques that will win customers most profitably.
I recommend that you download this handy course guide to aid your journey through the course as well as great reference materials for the future.
- I'm not graduate from economic bachelor and English is not my mother tongue. But this course and how Mr. Ken explained the content is really easy to understand for beginner like me. Thanks to Mr. Ken for answered all of my question with a fast and easy understandable answer! ~ Diantini S
- Perfect timing and the insights till now are those that I was exactly looking for.... Excited to learn more ~ Yogen P
- Such an amazing course. You'll be able to understand and create your own business plan and you'll get a lot of valuable advices ~ A Cerimagic
- Lot’s of info in this course. Ken really takes you from A to Z . Just what I needed for my business to take off. Thanks ~ Hugo M
- I'm new to the business world and have been looking for courses with practical guidance. This course definitely provides that and so much more ~ S Slawinski
- So far so good! A lot of challenges I'm facing in my work place Ken has highlighted the root course, which I was not expecting. He is clear, very engaging and breaks down the jargon. He is straight talking, right down to business attitude. I've just completed the first chapter and he's restoring a little faith in me so quite excited to keep learning (I know, I sound like a nerd) ~ Harrie T
- This course is the right match for me as I know some about business but believe in always improving. I also want to make sure I have a solid foundation for my business so I'm positioned right for the new year, and growth ~ E Jollymore
What you'll learn
- Techniques for understanding exactly what selling models your competitors are using.
- How to ensure that each selling model you choose is internally consistent with all your other go-to-market strategies.
- How to make certain that each selling model is financially feasible for your business.