Sales: Gaining Market Share

In the ever changing landscape of business sales the competition is tougher than ever. Companies who want market share typically look outside their own walls to an acquisition or a joint venture where they can take or merge business into their own. The thing is, customers are more sophisticated than that, and demand more. Just buying the business through acquisition does not guarantee that your customers will stay with you.

To meet customer needs businesses need to have an organized and systematic approach to winning the deals and keeping the customer happy. Having a systematic approach that includes a structured sales methodology, quality products and services, attention-grabbing advertising, and reliable customer service helps businesses successfully grab new customers, generate more revenue, and increase market share.

As a senior sales manager or C-level executive, the one area that can be impacted immediately is process. Having a structured accountability process in place is not a luxury, but a must have. Design a plan with marketing to target potential new customers and hold your salespeople to pitching according to the plan. Use the information you already have in your customer relationship management (CRM) system to develop your campaign and focus your sales process.

The Sales Manager has many competing priorities in their day to day work. However, one of the most important is the need to manage the sales functions and be sure that salespeople are focused on what is expected. The goal of having a system in place is to improve the quality of the targeting, goal setting, and action planning efforts of your salespeople. This enhancement will lead to an increase in the profitability and market share for each individual territory.

Though the exact methodology and structure of the sales process may vary depending on the type of company, it should always serve the purpose of growing your market share. An effective sales process and accountability system is the heart of the sales organization. A nonexistent or unstructured sales process will most likely slow down growth. It is possible to do more than just sustain; you can grow and gain market share with the right approach and systems in place.