sales business plan elements

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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.

Incorporating tools like a VoIP phone service service can enhance communication, enabling sales service reps to anticipate questions and concerns so that they can communicate effectively. You can work with your existing team and systems, but implementing customer service apps and exploring options like working with a virtual call center business can streamline processes, enhance efficiency, and ultimately improve customer satisfaction.

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. To further refine your approach and ensure that your sales goals align with broader strategic imperatives, consider integrating the MEDDPICC methodology into your planning process

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.”

Then, it doesn’t matter if you own a restaurant, have developed a bike rental service, run a gym, or created hotel management software . Your value proposition must clearly convey unique benefits and show how your product stands out.

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. For longer timelines, periodic updates and information sharing through digital sales rooms can maintain engagement and provide valuable resources conveniently.

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.

For example, incorporating digital account opening and  mutual action plans  into your sales strategy can simplify the onboarding process for new customers, reducing friction and increasing conversion rates.

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, marketing initiatives, customer entertainment, and tools like CRM software , automation, cybersecurity solutions, and even a corporate travel platform .

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.

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12 Key Elements of a Business Plan (Top Components Explained)

Starting and running a successful business requires proper planning and execution of effective business tactics and strategies .

You need to prepare many essential business documents when starting a business for maximum success; the business plan is one such document.

When creating a business, you want to achieve business objectives and financial goals like productivity, profitability, and business growth. You need an effective business plan to help you get to your desired business destination.

Even if you are already running a business, the proper understanding and review of the key elements of a business plan help you navigate potential crises and obstacles.

This article will teach you why the business document is at the core of any successful business and its key elements you can not avoid.

Let’s get started.

Why Are Business Plans Important?

Business plans are practical steps or guidelines that usually outline what companies need to do to reach their goals. They are essential documents for any business wanting to grow and thrive in a highly-competitive business environment .

1. Proves Your Business Viability

A business plan gives companies an idea of how viable they are and what actions they need to take to grow and reach their financial targets. With a well-written and clearly defined business plan, your business is better positioned to meet its goals.

2. Guides You Throughout the Business Cycle

A business plan is not just important at the start of a business. As a business owner, you must draw up a business plan to remain relevant throughout the business cycle .

During the starting phase of your business, a business plan helps bring your ideas into reality. A solid business plan can secure funding from lenders and investors.

After successfully setting up your business, the next phase is management. Your business plan still has a role to play in this phase, as it assists in communicating your business vision to employees and external partners.

Essentially, your business plan needs to be flexible enough to adapt to changes in the needs of your business.

3. Helps You Make Better Business Decisions

As a business owner, you are involved in an endless decision-making cycle. Your business plan helps you find answers to your most crucial business decisions.

A robust business plan helps you settle your major business components before you launch your product, such as your marketing and sales strategy and competitive advantage.

4. Eliminates Big Mistakes

Many small businesses fail within their first five years for several reasons: lack of financing, stiff competition, low market need, inadequate teams, and inefficient pricing strategy.

Creating an effective plan helps you eliminate these big mistakes that lead to businesses' decline. Every business plan element is crucial for helping you avoid potential mistakes before they happen.

5. Secures Financing and Attracts Top Talents

Having an effective plan increases your chances of securing business loans. One of the essential requirements many lenders ask for to grant your loan request is your business plan.

A business plan helps investors feel confident that your business can attract a significant return on investments ( ROI ).

You can attract and retain top-quality talents with a clear business plan. It inspires your employees and keeps them aligned to achieve your strategic business goals.

Key Elements of Business Plan

Starting and running a successful business requires well-laid actions and supporting documents that better position a company to achieve its business goals and maximize success.

A business plan is a written document with relevant information detailing business objectives and how it intends to achieve its goals.

With an effective business plan, investors, lenders, and potential partners understand your organizational structure and goals, usually around profitability, productivity, and growth.

Every successful business plan is made up of key components that help solidify the efficacy of the business plan in delivering on what it was created to do.

Here are some of the components of an effective business plan.

1. Executive Summary

One of the key elements of a business plan is the executive summary. Write the executive summary as part of the concluding topics in the business plan. Creating an executive summary with all the facts and information available is easier.

In the overall business plan document, the executive summary should be at the forefront of the business plan. It helps set the tone for readers on what to expect from the business plan.

A well-written executive summary includes all vital information about the organization's operations, making it easy for a reader to understand.

The key points that need to be acted upon are highlighted in the executive summary. They should be well spelled out to make decisions easy for the management team.

A good and compelling executive summary points out a company's mission statement and a brief description of its products and services.

An executive summary summarizes a business's expected value proposition to distinct customer segments. It highlights the other key elements to be discussed during the rest of the business plan.

Including your prior experiences as an entrepreneur is a good idea in drawing up an executive summary for your business. A brief but detailed explanation of why you decided to start the business in the first place is essential.

Adding your company's mission statement in your executive summary cannot be overemphasized. It creates a culture that defines how employees and all individuals associated with your company abide when carrying out its related processes and operations.

Your executive summary should be brief and detailed to catch readers' attention and encourage them to learn more about your company.

Components of an Executive Summary

Here are some of the information that makes up an executive summary:

• The name and location of your company
• Products and services offered by your company
• Mission and vision statements
• Success factors of your business plan

2. Business Description

Your business description needs to be exciting and captivating as it is the formal introduction a reader gets about your company.

What your company aims to provide, its products and services, goals and objectives, target audience , and potential customers it plans to serve need to be highlighted in your business description.

A company description helps point out notable qualities that make your company stand out from other businesses in the industry. It details its unique strengths and the competitive advantages that give it an edge to succeed over its direct and indirect competitors.

Spell out how your business aims to deliver on the particular needs and wants of identified customers in your company description, as well as the particular industry and target market of the particular focus of the company.

Include trends and significant competitors within your particular industry in your company description. Your business description should contain what sets your company apart from other businesses and provides it with the needed competitive advantage.

In essence, if there is any area in your business plan where you need to brag about your business, your company description provides that unique opportunity as readers look to get a high-level overview.

Components of a Business Description

Your business description needs to contain these categories of information.

• Business location
• The legal structure of your business
• Summary of your business’s short and long-term goals

3. Market Analysis

The market analysis section should be solely based on analytical research as it details trends particular to the market you want to penetrate.

Graphs, spreadsheets, and histograms are handy data and statistical tools you need to utilize in your market analysis. They make it easy to understand the relationship between your current ideas and the future goals you have for the business.

All details about the target customers you plan to sell products or services should be in the market analysis section. It helps readers with a helpful overview of the market.

In your market analysis, you provide the needed data and statistics about industry and market share, the identified strengths in your company description, and compare them against other businesses in the same industry.

The market analysis section aims to define your target audience and estimate how your product or service would fare with these identified audiences.

Market analysis helps visualize a target market by researching and identifying the primary target audience of your company and detailing steps and plans based on your audience location.

Obtaining this information through market research is essential as it helps shape how your business achieves its short-term and long-term goals.

Market Analysis Factors

Here are some of the factors to be included in your market analysis.

• The geographical location of your target market
• Needs of your target market and how your products and services can meet those needs
• Demographics of your target audience

Components of the Market Analysis Section

Here is some of the information to be included in your market analysis.

• Industry description and statistics
• Demographics and profile of target customers
• Marketing data for your products and services
• Detailed evaluation of your competitors

4. Marketing Plan

A marketing plan defines how your business aims to reach its target customers, generate sales leads, and, ultimately, make sales.

Promotion is at the center of any successful marketing plan. It is a series of steps to pitch a product or service to a larger audience to generate engagement. Note that the marketing strategy for a business should not be stagnant and must evolve depending on its outcome.

Include the budgetary requirement for successfully implementing your marketing plan in this section to make it easy for readers to measure your marketing plan's impact in terms of numbers.

The information to include in your marketing plan includes marketing and promotion strategies, pricing plans and strategies , and sales proposals. You need to include how you intend to get customers to return and make repeat purchases in your business plan.

5. Sales Strategy

Sales strategy defines how you intend to get your product or service to your target customers and works hand in hand with your business marketing strategy.

Your sales strategy approach should not be complex. Break it down into simple and understandable steps to promote your product or service to target customers.

Apart from the steps to promote your product or service, define the budget you need to implement your sales strategies and the number of sales reps needed to help the business assist in direct sales.

Your sales strategy should be specific on what you need and how you intend to deliver on your sales targets, where numbers are reflected to make it easier for readers to understand and relate better.

6. Competitive Analysis

Providing transparent and honest information, even with direct and indirect competitors, defines a good business plan. Provide the reader with a clear picture of your rank against major competitors.

Identifying your competitors' weaknesses and strengths is useful in drawing up a market analysis. It is one information investors look out for when assessing business plans.

The competitive analysis section clearly defines the notable differences between your company and your competitors as measured against their strengths and weaknesses.

This section should define the following:

• Your competitors' identified advantages in the market
• How do you plan to set up your company to challenge your competitors’ advantage and gain grounds from them?
• The standout qualities that distinguish you from other companies
• Potential bottlenecks you have identified that have plagued competitors in the same industry and how you intend to overcome these bottlenecks

In your business plan, you need to prove your industry knowledge to anyone who reads your business plan. The competitive analysis section is designed for that purpose.

7. Management and Organization

Management and organization are key components of a business plan. They define its structure and how it is positioned to run.

Whether you intend to run a sole proprietorship, general or limited partnership, or corporation, the legal structure of your business needs to be clearly defined in your business plan.

Use an organizational chart that illustrates the hierarchy of operations of your company and spells out separate departments and their roles and functions in this business plan section.

The management and organization section includes profiles of advisors, board of directors, and executive team members and their roles and responsibilities in guaranteeing the company's success.

Apparent factors that influence your company's corporate culture, such as human resources requirements and legal structure, should be well defined in the management and organization section.

Defining the business's chain of command if you are not a sole proprietor is necessary. It leaves room for little or no confusion about who is in charge or responsible during business operations.

This section provides relevant information on how the management team intends to help employees maximize their strengths and address their identified weaknesses to help all quarters improve for the business's success.

8. Products and Services

This business plan section describes what a company has to offer regarding products and services to the maximum benefit and satisfaction of its target market.

Boldly spell out pending patents or copyright products and intellectual property in this section alongside costs, expected sales revenue, research and development, and competitors' advantage as an overview.

At this stage of your business plan, the reader needs to know what your business plans to produce and sell and the benefits these products offer in meeting customers' needs.

The supply network of your business product, production costs, and how you intend to sell the products are crucial components of the products and services section.

Investors are always keen on this information to help them reach a balanced assessment of if investing in your business is risky or offer benefits to them.

You need to create a link in this section on how your products or services are designed to meet the market's needs and how you intend to keep those customers and carve out a market share for your company.

Repeat purchases are the backing that a successful business relies on and measure how much customers are into what your company is offering.

This section is more like an expansion of the executive summary section. You need to analyze each product or service under the business.

9. Operating Plan

An operations plan describes how you plan to carry out your business operations and processes.

The operating plan for your business should include:

• Information about how your company plans to carry out its operations.
• The base location from which your company intends to operate.
• The number of employees to be utilized and other information about your company's operations.
• Key business processes.

This section should highlight how your organization is set up to run. You can also introduce your company's management team in this section, alongside their skills, roles, and responsibilities in the company.

The best way to introduce the company team is by drawing up an organizational chart that effectively maps out an organization's rank and chain of command.

What should be spelled out to readers when they come across this business plan section is how the business plans to operate day-in and day-out successfully.

10. Financial Projections and Assumptions

Bringing your great business ideas into reality is why business plans are important. They help create a sustainable and viable business.

The financial section of your business plan offers significant value. A business uses a financial plan to solve all its financial concerns, which usually involves startup costs, labor expenses, financial projections, and funding and investor pitches.

All key assumptions about the business finances need to be listed alongside the business financial projection, and changes to be made on the assumptions side until it balances with the projection for the business.

The financial plan should also include how the business plans to generate income and the capital expenditure budgets that tend to eat into the budget to arrive at an accurate cash flow projection for the business.

Base your financial goals and expectations on extensive market research backed with relevant financial statements for the relevant period.

Examples of financial statements you can include in the financial projections and assumptions section of your business plan include:

• Projected income statements
• Cash flow statements
• Balance sheets
• Income statements

Revealing the financial goals and potentials of the business is what the financial projection and assumption section of your business plan is all about. It needs to be purely based on facts that can be measurable and attainable.

11. Request For Funding

The request for funding section focuses on the amount of money needed to set up your business and underlying plans for raising the money required. This section includes plans for utilizing the funds for your business's operational and manufacturing processes.

When seeking funding, a reasonable timeline is required alongside it. If the need arises for additional funding to complete other business-related projects, you are not left scampering and desperate for funds.

If you do not have the funds to start up your business, then you should devote a whole section of your business plan to explaining the amount of money you need and how you plan to utilize every penny of the funds. You need to explain it in detail for a future funding request.

When an investor picks up your business plan to analyze it, with all your plans for the funds well spelled out, they are motivated to invest as they have gotten a backing guarantee from your funding request section.

Include timelines and plans for how you intend to repay the loans received in your funding request section. This addition keeps investors assured that they could recoup their investment in the business.

12. Exhibits and Appendices

Exhibits and appendices comprise the final section of your business plan and contain all supporting documents for other sections of the business plan.

Some of the documents that comprise the exhibits and appendices section includes:

• Legal documents
• Licenses and permits
• Credit histories
• Customer lists

The choice of what additional document to include in your business plan to support your statements depends mainly on the intended audience of your business plan. Hence, it is better to play it safe and not leave anything out when drawing up the appendix and exhibit section.

Supporting documentation is particularly helpful when you need funding or support for your business. This section provides investors with a clearer understanding of the research that backs the claims made in your business plan.

There are key points to include in the appendix and exhibits section of your business plan.

• The management team and other stakeholders resume
• Marketing research
• Permits and relevant legal documents
• Financial documents

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How to create a sales plan in 7 Steps

A sales plan is the first step toward defining your sales strategy , sales goals and how you’ll reach them.

A refined sales plan is a go-to resource for your reps. It helps them better understand their role, responsibilities, targets, tactics and methods. When done right, it gives your reps all the information they need to perform at their highest level.

In this article, we outline what a sales plan is and why it’s important to create one. We also offer a step-by-step guide on how to make a sales plan with examples of each step.

What is a sales plan and why create one?

Your sales plan is a roadmap that outlines how you’ll hit your revenue targets, who your target market is, the activities needed to achieve your goals and any roadblocks you may need to overcome.

Many business leaders see their sales plan as an extension of the traditional business plan. The business plan contains strategic and revenue goals across the organization, while the sales plan lays out how to achieve them.

The benefits of a sales plan

A successful sales plan will keep all your reps focused on the right activities and ensure they’re working toward the same outcome. It will also address your company's specific needs. For example, you might choose to write a 30- , 60- or 90-day sales plan depending on your current goals and the nature of your business.

Say your ultimate goal for the next quarter is $250,000 in new business. A sales plan will outline the objective, the strategies that will help you get there and how you’ll execute and measure those strategies. It will allow your whole team to collaborate and ensure you achieve it together.

Many salespeople are driven by action and sometimes long-term sales planning gets neglected in favor of short-term results.

While this may help them hit their quota, the downside is the lack of systems in place. Instead, treat sales processes as a system with steps you can improve. If reps are doing wildly different things, it’s hard to uncover what’s working and what’s not. A strategic sales plan can optimize your team’s performance and keep them on track using repeatable systems.

With this in mind, let’s explore the seven components of an effective sales plan

1. Company mission and positioning

To work toward the same company goals, everyone in your organization must understand what your organization is trying to achieve and where in the market you position yourself.

To help define your mission and positioning, involve your sales leaders in all areas of the business strategy. Collaborating and working toward the same goals is impossible if those goals are determined by only a select group of stakeholders.

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To get a handle on the company’s mission and positioning, take the following steps:

Collaborate with marketing: Your marketing teams live and breathe the positioning of your company. Take the time to talk to each function within the department, from demand generation to performance marketing to learn what they know.

Interview customer success teams: Customer support reps speak with your existing customers every day. Interview them to find common questions and pain points.

Talk to your customers: Customer insights are a foundational part of any positioning strategy. Speak directly with existing and new customers to find out what they love about your product or service.

Read your company blog: Those in charge of content production have a strong understanding of customer needs. Check out blog articles and ebooks to familiarize yourself with customer language and common themes.

Look for mentions around the web: How are other people talking about your organization? Look for press mentions, social media posts, articles and features that mention your products and services.

These insights can provide context around how your company is currently positioned in the market.

Finally, speak with the team in charge of defining the company’s positioning. Have a list of questions and use the time to find out why they made certain decisions. Here are some examples:

What important insights from the original target audience research made you create our positioning statement?

What competitor research led us to position ourselves in this way? Does this significantly differentiate us from the crowd? How?

What core ideals and values drove us to make these promises in our positioning statement? Have they shifted in any way since we launched? If so, what motivates these promises now?

How to communicate mission and positioning

In this section of the sales plan, include the following information:

Company mission : Why your company exists and the value you’re determined to bring to the market.

Competition: Who your direct competitors (those who offer similar products and services) and indirect competitors (brands who solve the same problem in different ways) are.

Value propositions: The features, benefits and solutions your product delivers.

What is brand positioning: The ultimate guide with 4 examples

2. Goals and targets

Define your revenue goals and the other targets sales are responsible for.

As mentioned earlier, sales goals are usually aligned with business goals. Your boardroom members typically establish the company’s revenue goals and it’s your job to achieve them.

Revenue goals will shape your sales strategy. Use them to reverse engineer quotas, sales activity and the staff you need to execute them.

Break your big-picture revenue goal down further into sales targets and activity targets for your team. Activities are the specific actions you and your reps can control, while sales targets are the results provided by those activities.

9 steps to creating the perfect sales strategy (with free template)

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10 predictable revenue hacks to grow your sales

Use data on sales activity and performance from previous years to calculate sales targets. You should break this down by pipeline stage and activity conducted by reps across all functions.

For example, how many cold emails does it take to generate a deal? What is the average lifetime value (LTV) of your customer?

Breaking down these numbers allows you to accurately forecast what it will take to achieve your new revenue goal.

This part of your sales plan might include setting goals like the following:

200 total cold emails sent per day

200 total cold calls made per day

25 demos conducted per day

5 new sales appointments made a day

100 follow-up emails sent per day

Breaking down your goals into specific activities will also reveal the expertise needed for each activity and any required changes to your organizational structure, which will come into play in the next step.

How to communicate goals and targets

Within this section of the sales plan, include the following information:

Revenue goals : Reverse engineer the boardroom revenue goals to identify achievable sales goals and the number of staff needed to reach them. Sales targets : Use data on sales activity and past performance to define quotas and metrics for each stage of the sales pipeline.

Expertise needed for each activity: What qualities and attributes do your staff need to achieve these predefined activities? How much experience do they need vs. what can be learned on the job?

3. Sales organization and team structure

Identify the talent and expertise you need to achieve your goals.

For example, a marketing agency that depends on strong relationships will benefit more from a business development executive than a sales development representative (SDR) .

Use the targets established in the previous section to identify who you need to hire for your team. For example, if the average sales development rep can send 20 cold emails a day and you need to send 200 to achieve your goals, you’ll need around ten reps to hit your targets.

Include the information for each team member in a table in your sales plan. Here is an example.

Visualizing each role helps all stakeholders understand who they’re hiring and the people they’re responsible for. It allows them to collaborate on the plan and identify the critical responsibilities and qualities of their ideal candidates.

You want to avoid micromanaging , but now is a good time to ask your existing teams to report on the time spent on certain activities. Keeping a timesheet will give you an accurate forecast of how long certain activities take and the capacity of each rep.

How to communicate your sales organization and team structure

Team structure: These are the functions that make up your overall sales organization. The roles of SDR, business development and account teams must be well-defined.

Roles and responsibilities: These are the roles you need to hire, along with the tasks they’re responsible for. This will help you produce job descriptions that attract great talent.

Salary and compensation: How will the company remunerate your teams? Having competitive salaries, compensation schemes and sales incentives will attract top performers and keep them motivated.

Timeline: Attempting to hire dozens of people at once is tough. Prioritize hiring based on how critical each role is for executing your plan. Take a phased hiring approach to onboard new reps with the attention they deserve.

Building a sales team: How to set your group up for success

4. Target audience and customer segments

A sales plan is useless without knowing who to sell to. Having clearly defined customer personas and ideal customer profiles will help you tailor your selling techniques to companies and buyers.

Whether you’re looking to break into a new market or expand your reach in your current one, start by clearly defining which companies you’re looking to attract. Include the following criteria:

Industries: Which markets and niches do you serve? Are there certain sub-segments of those industries that you specialize in?

Headcount: How many employees do your best accounts have within their organization?

Funding: Have they secured one or several rounds of funding?

Find out as much as you can about their organizational challenges. This may include growth hurdles, hiring bottlenecks and even barriers created by legislation.

Learn about your buyers within those target accounts, learn about your buyers. Understanding your buyers and personalizing your sales tactics for them will help you strengthen your customer relationships.

These insights will change as your business grows. Enterprise companies may wish to revisit their personas as they move upmarket. For small businesses and startups, your target audience will evolve as you find product-market fit.

It’s important to constantly revisit this part of your sales plan. Even if your goals and methodologies are the same, always have your finger on the pulse of your customer’s priorities.

How to communicate target audience and customer segments

Profile: Include basic information about their role, what their career journey looks like and the common priorities within their personal lives.

Demographics : Add more information about their age, income and living situation. Demographic information can help tailor your message to align with the language used across different generations.

Attributes: Assess their personality. Are they calm or assertive? Do they handle direct communication themselves or have an assistant? Use these identifying attributes to communicate effectively.

Challenges: Think about the hurdles this persona is trying to overcome. How does it affect their work and what’s the impact on them personally?

Goals: Analyze how these challenges are preventing them from achieving their goals. Why are these goals important to them?

Support: Use this insight to define how your product or service will help these people overcome challenges and achieve their goals.

Behavioral segmentation: What is it and how can it drive engagement and loyalty

5. Sales strategies and methodologies

Define your sales approach. This includes the strategies, techniques and methodologies you’ll use to get your offering out to market.

This part of your sales plan may end up being the largest. It will outline every practical area of your sales strategy: your sales stages, methodologies and playbooks.

Start by mapping out each stage of your sales process. What are the steps needed to guide a prospect through your deal flow?

9 essential sales stages

Traditionally, a sales process has nine sales stages :

Prospecting and lead generation : Your marketing strategy should deliver leads, but sales reps should boost this volume with their own prospecting efforts.

Qualification: Measure those leads against your target account criteria and customer personas. Ensure they’re a good fit, prioritizing your time on high-value relationships.

Reaching out to new leads : Initiate emails to your target customers to guide new leads into the sales funnel. This outreach activity includes cold calling and direct mail.

Appointment setting: Schedule a demo, discovery call or consultation.

Defining needs: After the initial meeting, you’ll understand your prospect’s problems and how your product or service can solve them.

Presentation: Reveal the solution. This can be in the form of a proposal, custom service packages or a face-to-face sales pitch .

Negotiation: Dedicate this stage to overcoming any objections your prospect may have.

Winning the deal: Turn your prospects into customers by closing deals and signing contracts.

Referrals : Fostering loyalty is an organization-wide activity. Delight your customers and encourage them to refer their friends.

Not all of these stages will be relevant to your organization. For example, a SaaS company that relies on inbound leads may do much of the heavy lifting during the initial meeting and sales demo . On the other hand, an exclusive club whose members must meet certain criteria (say, a minimum net worth) would focus much of their sales activity on referrals.

Map out your sales process to identify the stages you use. Your sales process should look something like this:

To determine your sales methodologies, break each sales stage down into separate activities, along with the stakeholder responsible for them.

With your sales activities laid out, you can do in-depth research into the techniques and methodologies you need to execute them. For example, if you sell a complex product with lengthy sales cycles , you could adopt a SPIN selling methodology to identify pain points and craft the best solution for leads.

Finally, use these stages and methodologies to form your sales playbooks . This will help you structure your sales training plan and create playbooks your reps can go back to for guidance.

How to communicate sales strategies and methodologies

Within this section of the sales plan, include the following:

Sales stages: The different steps required to convert prospects into paying customers.

Sales methodologies: The different practices and approaches you’ll adopt to shape your sales strategy.

Sales playbooks: The tactics, techniques and sales strategy templates needed to guide contacts throughout each stage of the sales process.

6. Sales action plan

You have the “who” and the “what”. Now you must figure out “when” to execute your sales plan.

A well-structured sales action plan communicates when the team will achieve key milestones. It outlines timeframes for when they’ll complete certain projects and activities, as well as the recruitment timelines for each quarter.

The order in which you implement your sales action plan depends on your priorities. Many sales organizations prefer to front-load the activity that will make a bigger impact on the bottom line.

For example, when analyzing your current sales process and strategy, you may find your existing customers are a rich source of qualified leads . Therefore, it would make sense to nurture more of these relationships using a structured referral program.

You must also consider how recruitment will affect the workload in your team. Hire too quickly and you may end up spending more time training new reps and neglecting your existing team. However, taking too long to recruit could overload your existing team. Either can make a big impact on culture and deal flow.

To complete your sales action plan, get all stakeholders involved in deciding timelines. When applying this to your sales plan, use GANTT charts and tables to visualize projects and key milestones.

A GANTT chart shows you the main activities, their completion dates and if there are any overlaps. Here is an example:

By prioritizing each activity and goal, you can create a plan that balances short-term results with long-term investment.

How to communicate your sales action plan

Key milestones : When do you aim to complete your projects, activities and recruitment efforts? You can map them out by week, month, quarter or all of the above. Let your revenue goals and priorities lead your schedule.

Short- and long-term goal schedules: With a high-level schedule mapped out, you can see when you will achieve your goals. From here, you can shape your schedule so that it balances both short- and long-term goals.

7. Performance and results measurement

Finally, your plan must detail how you measure performance. Outline your most important sales metrics and activities, how you’ll track them and what technology you’ll need to track them.

Structure this part of your plan by breaking down each sales stage. Within these sections, list out the metrics you’ll need to ensure you’re running a healthy sales pipeline.

Performance metrics can indicate the effectiveness of your entire sales process. Your chosen metrics typically fall into two categories:

Primary metrics act as your “true north” guide. This is commonly new business revenue generated.

Secondary metrics are those that indicate how well specific areas of your sales process are performing. These include lead response time and average purchase value.

The metrics you select must closely align with your goals and sales activities. For example, at the appointment setting stage, you might measure the number of demos conducted.

Each team also needs its own sales dashboard to ensure reps are hitting their targets. Sales development reps will have different priorities from account executives, so it’s critical they have the sales tools to focus on what’s important to them.

Finally, research and evaluate the technology you’ll need to accurately measure these metrics. Good CRM software is the best system to use for bringing your data together.

How to communicate sales performance metrics

Sales stage metrics : Identify the metrics for each specific sales stage and make sure they align with your KPIs.

Chosen sales dashboard: Explain why you chose your sales dashboard technology and exactly how it works.

Performance measurement: Outline exactly how and what tech you will use to measure your team’s activities and metrics.

How to track, measure and improve your team’s sales performance

Developing a sales plan involves conducting market research, assessing current sales performance , identifying sales opportunities and challenges, setting measurable goals, creating a sales strategy, allocating resources and establishing a monitoring and evaluation framework.

To write a sales business plan, include:

An executive summary

A company overview

A market analysis

A target market description

Sales strategies and tactics

Financial projections

A budget and timeline

Make sure that you clearly articulate your value proposition, competitive advantage and growth strategies.

Final thoughts

An effective sales plan is an invaluable asset for your sales team . Although you now know how to create a sales plan, you should remember to make one that works for your team. Writing one helps with your sales strategy planning and aids you in defining targets, metrics and processes. Distributing the sales plan helps your reps understand what you expect of them and how they can reach their goals.

Providing supportive, comprehensive resources is the best way to motivate your team and inspire hard work. When you do the work to build a solid foundation, you equip your reps with everything they need to succeed.

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How to Write a Sales Plan

This guide explains the purpose of a sales plan, what it contains and how to write one that works for your business. It also includes a free template for your own 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?

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.

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.”

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. 

“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.

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You can't reach success without a plan. That's why we've collected the necessary steps and sales plan examples so that you can promptly create a document that’s right for your company.

https://snov.io/blog/how-to-create-sales-plan/

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!

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Create a sales plan: tips and templates

Posted May 31, 2023

By Serena Miller

Editor, Sales Best Practices at Outreach

What is a sales plan? 

The sales planning process, key elements of a sales plan , examples of strategic sales plans , tips for creating an effective sales plan , sales plan templates , a powerful platform for effective sales planning, stay up-to-date with all things outreach.

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The sales world is ever-changing. Customer demand and expectations, market conditions, technological advancements, evolving techniques, shifting employee demographics, and more threaten an organization’s ability to stay ahead of the curve and be successful.

Simply improvising in the face of change isn’t an adequate strategy to ensure your team will meet their goals. While flexibility is a vital quality for any great sales team, proper planning is crucial for reaching your goals consistently and predictably. 

A strong sales plan can help your team boost alignment and collaboration, better understand competitors and the broader market, effectively analyze performance, and improve future outcomes.

Let’s explore some important elements of sales plans, including key process steps and elements, real-world examples, tips and tricks for getting it right, and the template you’ll need to get started.

• What is a sales plan?
• Key elements of a sales plan
• Examples of strategic sales plans
• Tips for creating an effective sales plan
• Sales plan templates

A sales plan is a document that outlines your specific objectives, challenges, strategies, and target audience. It’s a sales-specific illustration of exactly what steps your team will take to succeed. While a business plan lays out your organization’s broader goals, a sales plan maps out how you’ll actually achieve them.

What are the benefits of a sales plan

Effective sales plans help organizations align their sales and marketing teams and avoid conflicting efforts. It’s an essential part of a strong sales management process because it reduces distractions and helps managers and sellers focus on selling to the right prospects at the right time. When used as an ongoing process, sales planning enables teams to track their progress, boosts rep motivation, and reduces wasted time. 

Nothing about sales is static. Sales planning should therefore be a living, breathing process that managers review as new products are updated or released, market conditions change, or their team scales.

Nothing about sales is static. Sales planning should therefore be a living, breathing process that managers review as new products are updated or released, market conditions change, or their team scales. 

The typical sales planning process includes 5 key steps:

1. Align your mission statement with your sales plan

Take the first step by crafting an awesome mission statement. This will establish your company’s purpose and unify your team around a succinct principle. 

But it is vital to bring that mission statement to increase employee engagement, boost productivity , and commit everyone to the same goals and objectives. To keep your big-picture strategy from floating around in the stratosphere, tie it together with your already-established mission statement. 

For example, if your mission statement centers around finding the best possible solutions for each customer’s unique problems, your sales plan should mirror that same sentiment—and offer ways you can actually deliver. 

Once you’ve ironed out these details, be sure to clearly communicate them with your team. Explain how your sales plan aligns with your mission statement and the importance of maintaining that continuity. 

2. Analyze your market 

Your business doesn’t operate in a vacuum, and neither should your sales plan. Take a close look at each of your competitors and your own company’s current performance in the market and incorporate that data into a holistic plan. How do your competitors serve your target audience? How do your own strategies stand up to — or fail to meet — market demands?

In order to identify your ideal customers, as well as their product and service needs, you should utilize customer feedback, user research, client surveys, sales team and service team interviews, social listening, keyword research, and competitive analysis.. Instead of assuming that you already know what customers want, potentially wasting time, resources, and revenue, take the time to pinpoint their demands, expectations, and requirements. Then train and develop your sales plan to address them. 

Remember that 77% of B2B customers find their buying journey difficult, so a sales plan that takes their unique needs into account can make all the difference when it comes to attracting and retaining clients. 

3. Set sales goals and targets 

Setting both short- and long-term goals and targets is sometimes challenging. Managers often scramble to improve everything all at once without a clear understanding of how to do it. The foundation for strong goal-setting is a healthy mix of the right sales metrics (e.g., activity metrics, pipeline metrics, lead gen metrics, and productivity metrics) and measuring them against the right KPIs . 

The best way to set realistic, yet challenging targets for your sales plan is to collect and make effective use of high-quality data. Powerful, fully-integrated sales tools help your team accomplish this by eliminating the need for manual data entry and updating. Your team can glean a comprehensive, up-to-date understanding of where they are and where they want to go; all without missing a beat. 

Over time, you can use metrics and KPIs from previous periods to fine-tune your targets. Integrate both your sales and marketing metrics to help you refine your goals and find more opportunities to improve your processes. 

4. Define your sales team’s roles and responsibilities

Each sales team member plays a crucial role in the success of the larger unit:

• Inside and outside sales reps focus on making contact with prospects
• Account managers retain, engage, and satisfy clients
• Regional sales managers support their direct reports and coordinate sales operations 
• Sales operations managers improve team efficiency, productivity, and effectiveness
• Sales development reps (SDRs) research, prospect, and qualify leads
• Account executives (AEs) run demos, conduct compelling presentations, identify and resolve purchasing challenges, and negotiate buying terms
• Sales engineers address in-depth product questions, identify customers’ technical needs, and develop demos

While this isn't an exhaustive list of each individual role’s responsibilities, it illustrates how many moving parts a well-oiled sales team needs to run. Executive sales team members (like the Director of Sales, VP of Sales, and Chief Sales Officer) focus on higher-level sales initiatives, and their knowledge and expertise is crucial to the team’s overall success.

Because there are so many different sales career pathways , managers should clearly define each person's responsibilities and outline how their efforts will contribute to the sales plan. Break down tasks and targets for each team member and measure their performance alongside those larger KPIs. For example, you might measure SDRs against number of deals closed, number of calls, or number of meetings, while evaluating account executives using number of demos, opportunities won, and win rate.

5. Evaluate results

Your sales plan should never be rigid. Even if you think you’ve crafted a sales plan masterpiece, it’s essential to follow up after implementation and evaluate your results. Using robust sales technology, you can easily track every activity within your sales process and evaluate how the execution of each task reveals your team’s strengths and shortcomings. 

A strong sales tool offers a variety of features that help you assess performance—one of which being a sales dashboard . Dashboards standardize, centralize, and visually illustrate all of your sales data in a single place, helping managers evaluate team performance and progress against their set goals in real time.   

Then, armed with those deep insights, you can adjust your sales plan as needed for even better outcomes in the future. 

Though your specific sales plan will vary depending on your unique business, goals, target audience, team size, and industry, there are several common elements you should always consider.

Set realistic goals

Goals motivate sellers and keep them excited about their work. Since highly-engaged teams are 14% more productive than those with low engagement, taking the time to create achievable targets based on market conditions and your customers’ needs, which tie into the things that engage your sellers.

A varying combination of daily, weekly, and monthly goals can help managers keep sales people inspired. Make sure you clearly establish how these smaller goals impact the success of the sales plan to get reps fully committed. 

Explore sales tools

Many of today’s sales teams rely heavily on their tools, but some still struggle with lackluster, disconnected, or outdated technology. To create and carry out a seamless sales plan, your team needs tools that are completely integrated and offer the type of transparency that streamlines your entire operation.

Most sales teams use customer relationship management (CRM) tools to organize contacts and optimize sales management. In fact, 50% of top tech sellers use CRM tools, while 97% of sales professionals say that their CRM is important for closing deals. 

While your CRM is crucial , that one tool alone is not enough to support your team at every step of the sales process. Your team needs a full suite of integrated features, like dashboards, forecasts, automation, and buyer sentiment analysis . With the right SalesTech , your team can improve productivity, communication, and lead conversion to ultimately build and execute excellent sales plans. 

Communicate clear expectations 

Establishing and enforcing expectations is critical to just about every part of a business. After all, how are employees supposed to know what they should do and whether they’re doing it properly without understanding what’s expected of them? 

In sales, this is especially important. Success often hinges on specific, time-sensitive activities that are properly executed. For instance, swift customer follow-up can make or break a deal. A rep’s failure to understand where their co-worker’s responsibility ends and theirs begins can change a success into a failure. 

To anticipate or resolve any existing confusion, managers should define crystal-clear expectations both for the team and for individual sellers. Document those expectations in an easy-to-access place. Each seller should have the right resources and direction to execute every sales task in a timely manner. This builds trust and communication within the team, which is the key to the success of  any sales plan. 

Develop training programs 

Organizations that invest in training receive about $453 for every dollar invested (a 353% ROI). Top-performing sellers are more likely to spend a significant amount of time training with their managers. It’s no wonder 89% of sales leaders have invested or plan to invest in internal sales training. Those that fail to prioritize skill development will likely fall behind their competitors. 

There are many different types of training programs , each with varying benefits and costs. One thing to note is that regardless of which type of training program you choose, make sure your team has the right tools and the training to effectively use those tools to help everyone get the most out of the investment.

There are several different types of sales plans that might be useful to your specific business and team. Here are some examples of the most commonly used strategic sales plans.

Customer profile  

Developing an ideal customer profile (ICP) is an excellent way to make sure your team targets the right prospects. An ICP can fine-tune messaging, and establish a strong overall sales strategy. To get started building this type of sales plan, identify your best current customers, reach out to those customers for feedback, and study your customer and sales data. Then, use those insights to craft a valuable ICP that’ll drive even more business from new verticals . 

30-60-90-day plan

It’s helpful to break your sales plan up into more digestible chunks. A 30-60-90-day plan divides goals, activities, and metrics into 30-day intervals, each with progressively challenging steps. It’s a great way to set reps up for continuous improvement without overwhelming them right off the bat. 

Market expansion plan 

Stimulating growth in new markets is a daunting task, but a market expansion sales plan gives your team clear direction on how to break through. This model is best used for new territories or regions where your ICP, account distribution costs, time zones, and other key factors differ from those in your typical market. 

Marketing-alignment plan 

Getting your sales and marketing departments on the same page can ameliorate many issues that might hinder your sales success—like inconsistent messaging, uncoordinated strategy, disparate data, disconnected tools, lack of understanding, differing priorities, competition for funding, and more. A sales plan that’s grounded in sales-marketing alignment can effectively bring both teams together for greater cohesion, better resource sharing, more scalable playbooks, and shorter sales cycles .

New product/service plan

If your organization plans to launch a new product or service in the near future, it’s probably ideal to create a sales plan around that debut. This will help your team properly track revenue, understand subsequent growth, and identify areas of strengths and weaknesses. 

Regardless of the type of sales plan you choose, there are some well-established best practices that’ll help your team translate the plan into real-world success.

Create a market analysis

Fluctuating market trends make it difficult to stay on top of the competitive landscape and customer demands. Be sure to conduct an in-depth market analysis to better understand how to reach your target audience. Then, create a sales and prospecting approach geared to those insights. 

If your sales plan is founded upon hard facts and data, like industry standards, previous performance data and sales forecasts, and qualitative and quantitative feedback from sales and marketing teams, you can make meaningful adjustments that will garner better results at a faster rate. 

Utilize your marketing team 

If you establish your marketing team as your collaborative partner on your sales plan, they become your team’s secret weapon. Ask your marketing team to share their insights, and regularly voice their questions and concerns about your strategy. The effort required for getting sales and marketing teams in rhythm is worth it to make your plan more optimized and robust. 

Communicate with your sales team

At the core of any great sales plan is effective communication, so make sure your team has everything they need to receive updates, share input, and explore their colleagues’ challenges. Encourage them to let you know what’s working and what isn’t. Company chat applications (e.g., Slack) are great, but they don’t always enable the seamless communication required for a fully-optimized sales operation. Leverage tools that act as a central hub for all things sales.

Sales execution platforms, for example, offer centralized communication in a single place. Team members can always access and share updates and communication histories, collaborate, and work efficiently toward the same goals. 

Even with a deeper understanding of what your sales plan needs and why it’s important, crafting one of your own can be confusing. Sales plan templates can help guide your process and ensure nothing falls through the cracks. An effective template should include spaces for key elements, strategy specifics, roles and responsibilities, KPIs, short- and long-term goals, and deadlines. 

To help get your sales planning juices flowing, we’ve created a sales plan template with everything you’ll need for success:

Your sales plan acts as your team’s guiding light for developing a clear, effective strategy. Effective planning aligns sales and marketing, helps teams progress and performance, and improves seller engagement, motivation, and productivity. But the various moving pieces of a strong sales plan require the support of an intelligent system of action.

Outreach’s Sales Execution Platform reduces the time-consuming, manual activities typically associated with sales planning. As the only AI-powered Sales Execution Platform, Outreach unlocks seller productivity to create more pipeline and close more deals.

Learn more about how Outreach helps managers boost their team’s productivity , or request a demo today.

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• How to Create a Sales Plan? 10 Free Templates 

Selling without a plan is akin to setting out on a journey without a map.  

While you might stumble upon your destination by chance, having a plan significantly increases the likelihood of success. 

Without a sales plan in place, businesses risk operating in a reactive mode, addressing immediate issues but lacking a cohesive strategy for long-term growth. 

In this article, we go beyond theory and cover the practical side of creating sales plans with a step-by-step guide, actionable templates and best practices for tried and tested success. (If you’re in a hurry, you can skip right to the sales plan templates.) 

What is a Sales Plan?  

A sales plan is a detailed strategy that lays out how a company intends to meet its sales goals.  

It involves setting objectives, identifying target customers, outlining the tactics to reach them, and detailing the resources and steps needed to close deals successfully.  

It’s the playbook that guides sales teams in achieving their targets. If you’re wondering whether you really need a sales plan, you’ll find your answer below. 

Benefits of Creating a Sales Plan  

Having a solid sales plan offers a range of benefits that contribute to the overall success and sustainability of a business.  

Here are the key advantages: 

• Clear Direction: A solid sales plan provides a clear roadmap for the sales team, outlining objectives, strategies, and tactics. It ensures that everyone is moving in the same direction, minimizing confusion and maximizing efficiency. 
• Goal Alignment: The plan aligns sales goals with overall business objectives, ensuring that the sales team’s efforts directly contribute to the company’s growth and success. 
• Efficient Resource Allocation: With a plan in place, businesses can allocate resources more effectively, whether it’s budget, personnel, or technology. This optimization enhances the team’s ability to achieve its goals. 
• Proactive Problem Solving: A sales plan involves anticipating potential challenges and developing strategies to address them. This proactive approach minimizes risks and enhances the team’s ability to navigate obstacles. 
• Strategic Decision-Making: It provides a strategic framework for decision-making, helping businesses make informed choices based on data, analysis, and a clear understanding of market dynamics. 
• Performance Measurement: Sales plans include key performance indicators (KPIs) that enable businesses to measure success systematically. This data-driven approach facilitates informed decision-making and continuous improvement. 
• Adaptability: A well-structured sales plan is adaptable to changes in the market, customer preferences, and other external factors. It allows businesses to pivot strategies when needed and stay ahead of the competition. 
• Team Accountability: The plan establishes clear roles and responsibilities within the sales team, fostering accountability. Team members understand their contributions to overall goals, enhancing collaboration and performance. 

Given the significance of having an effective sales plan, here’s an actionable guide to help you create one. 

How to Create an Effective Sales Plan  

An effective sales plan typically has several key characteristics, but if there’s one thing that stands out, it would be clarity of purpose and alignment with business goals.  

Here’s how you can create a sales plan: 

• Set Clear Objectives  
• Clarify not only the quantitative objectives but also the qualitative ones, such as improving customer satisfaction or penetrating a new market segment. 
• Align objectives with the overall business strategy to ensure synergy across departments. 

• Know Your Target Market  
• Develop buyer personas with detailed narratives that go beyond demographics to capture motivations, pain points, and aspirations. 
• Use advanced analytics tools to track real-time market changes and consumer sentiments. 

• Understand Your Product/Service  
• Conduct a comprehensive value proposition analysis, exploring emotional and functional benefits to create a more compelling narrative. 
• Regularly update your understanding of the product-market fit as customer needs evolve. 
• SWOT Analysis  
• Dig deep into the nuances of each element of SWOT, identifying not only current factors but potential future shifts. 
• Leverage external consultants or industry experts to gain a fresh perspective on your business landscape. 
• Sales Team Structure  
• Consider hybrid or agile team structures that allow for quick adaptation to market changes. 
• Foster a culture of collaboration and knowledge sharing to capitalize on the diverse strengths within the team. 
• Sales Strategies and Tactics  
• Develop strategies for lead generation, prospecting, and closing deals. 
• Develop a multi-channel approach that integrates online and offline strategies seamlessly. 
• Implement A/B testing and data-driven decision-making to refine tactics continuously. 
• Sales Forecasting  
• Utilize predictive analytics and machine learning algorithms for more accurate forecasting . 
• Incorporate scenario planning to prepare for unexpected market shifts or disruptions. 
• Budget Allocation  
• Adopt a zero-based budgeting approach , challenging the necessity of each expense to ensure optimal resource allocation. 
• Create contingency funds for quick adaptation to unforeseen circumstances. 

• Training and Development  
• Implement personalized training programs based on individual strengths and weaknesses. 
• Foster a culture of self-directed learning, encouraging team members to proactively seek knowledge. 
• Technology and Tools  
• Embrace emerging technologies such as artificial intelligence and automation for more efficient sales processes. 
• Regularly assess the technological landscape for innovative tools that can provide a competitive edge. 
• Monitoring and Evaluation  
• Establish a dynamic dashboard that provides real-time insights into KPIs, enabling agile decision-making. 
• Conduct regular “post-mortem” analyses on both successful and unsuccessful sales initiatives for continuous improvement. 
• Feedback Loop  
• Implement a 360-degree feedback system that includes input from customers, frontline sales staff, and management. 
• Actively seek out dissenting opinions to avoid groupthink and encourage innovative problem-solving. 
• Adaptability  
• Foster a mindset of adaptability and resilience within the sales team. 
• Develop agile response plans that can be quickly deployed in response to unexpected challenges or opportunities. 

Remember, a sales plan is a dynamic document that should be revisited and adjusted regularly to stay aligned with your business goals and market conditions. 

Types of Sales Plan Templates  

Exploring the potential of different sales strategies is crucial for organizational growth.  

The following table outlines key focus areas and stakeholders for various sales plans, providing a comprehensive view of how each plan contributes to overall success. 

While there are many sales plans, successful sales come down to understanding the important parts of each strategy. Let’s uncover what makes sales planning work. 

Sales Plan Templates  

Essential elements of a sales plan  .

A well-put-together sales plan plays a crucial role in directing a company’s sales initiatives and achieving revenue objectives.  

Now, every industry and company is unique, so the details might vary, but the basics are pretty much the same. Here’s what you usually find in a sales plan: 

1. Executive summary 

• Briefly outline the key components of the sales plan. 
• Provide an overview of the company’s current sales performance. 

2. Business objectives 

• Clearly define the sales goals and objectives. 
• Align these objectives with the overall business strategy. 

3. Target market and customer segmentation 

• Identify and describe the target market. 
• Segment customers based on demographics, psychographics, and behavior. 

4. Competitive analysis 

• Analyze the strengths and weaknesses of competitors. 
• Identify opportunities and threats in the market. 

5. Sales goals and quotas 

• Set specific, measurable, and achievable sales targets. 
• Assign sales quotas to individual team members or regions. 

6. Sales strategies 

• Outline the strategies for reaching the target audience. 
• Include positioning, pricing, and differentiation strategies. 

7. Sales tactics 

• Detail the specific actions and activities the sales team will undertake. 
• Include prospecting, lead generation, and closing techniques . 

8. Sales channels 

• Specify the channels through which products or services will be sold. 
• Consider direct sales, online sales, partnerships, etc. 

9. Sales training and development 

• Outline training programs to enhance the skills of the sales team. 
• Include ongoing development initiatives. 

10. Sales forecast 

• Provide a realistic projection of sales revenues. 
• Break down forecasts by product, service, or region. 

11. Budget 

• Detail the budget required for implementing the sales plan. 
• Include expenses for marketing, promotions, and sales activities. 

12. Metrics and Key Performance Indicators (KPIs) 

• Define the metrics used to measure sales performance. 
• Examples include conversion rates, average deal size, and customer acquisition cost. 

13. Implementation timeline 

• Create a timeline outlining the key milestones and deadlines. 
• Ensure alignment with broader business timelines. 

14. Risk analysis and contingency plans 

• Identify potential risks to the sales plan’s success. 
• Develop contingency plans to address unforeseen challenges. 

15. Monitoring and evaluation 

• Establish a process for monitoring and evaluating sales performance . 
• Regularly review and adjust the sales plan based on feedback and results. 

When businesses throw in these key elements into their sales plan, they’re basically mapping out how to hit their sales goals and improve overall performance. 

Best Practices for Sales Planning  

Best laid sales plans often subscribe to a few standard “best practices”. 

These go a long way in ensuring the plan’s effectiveness. Here are some key ones: 

1. Developing your sales team  

• Continuous Training: Implement ongoing training programs to keep the sales team updated on industry trends, product knowledge, and effective sales techniques. 
• Mentorship Programs: Foster mentorship relationships within the team to facilitate knowledge transfer and skill development. 
• Performance Reviews: Conduct regular performance reviews to identify areas for improvement and provide constructive feedback. 

2. Defining roles for the sales team  

• Clear Role Definitions: Clearly define the roles and responsibilities of each member of the sales team to avoid confusion and overlap. 
• Specialization: Consider specialization within the team (e.g., inbound sales, outbound sales, account management) to leverage individual strengths. 
• Goal Alignment: Ensure that individual roles align with overall sales and business goals. 

3. Developing prospecting strategies  

• Targeted Prospecting: Tailor prospecting strategies to target specific market segments identified through thorough research. 
• Utilize Technology: Leverage CRM tools and other technologies to streamline prospecting processes and manage leads efficiently. 
• Multi-Channel Approach: Implement a multi-channel approach to prospecting, incorporating email campaigns, social media, and traditional outreach methods. 

4. Training programs to bolster sales competencies  

• Soft Skills Training: Include training modules that focus on developing soft skills such as communication, negotiation , and relationship-building. 
• Product Knowledge: Ensure that the sales team has in-depth knowledge of products or services to effectively communicate value propositions to customers. 
• Role-specific Training: Tailor training programs to address the unique needs of different sales roles within the team. 

5. Performance metrics and measurement  

• Key Performance Indicators (KPIs): Establish and track KPIs that align with sales objectives, such as conversion rates, lead generation, and revenue growth. 
• Data-Driven Decision Making: Use analytics and data to make informed decisions about sales strategies and resource allocation. 
• Regular Performance Reviews: Conduct regular reviews to assess individual and team performance against set metrics. 

6. Collaboration and communication  

• Interdepartmental Collaboration: Foster collaboration between sales, marketing, and other relevant departments to ensure a cohesive approach. 
• Regular Team Meetings: Conduct regular team meetings to share updates, discuss challenges, and brainstorm strategies for improvement. 
• Open Communication Channels: Encourage open communication channels within the team to facilitate the exchange of ideas and feedback. 

7. Adaptability and continuous improvement  

• Agile Approach: Foster an agile mindset within the sales team to adapt quickly to changing market conditions and customer needs. 
• Feedback Loops: Establish feedback loops to gather input from the sales team, customers, and other stakeholders for continuous improvement. 
• Benchmarking: Regularly benchmark sales performance against industry standards and competitors to identify areas for enhancement. 

Implementing these best practices can contribute to the development of a high-performing sales team and the formulation of productive sales strategies. 

Utilizing Tools & Resources in Your Sales Plan  

Meeting your strategic goals hinges on integrating the right tools and resources into your sales plan 

Here’s how you can go about it: 

I. Incorporating CRM data into your sales plan  

• Customer segmentation:  
• Utilize CRM data to segment customers based on characteristics such as demographics, purchase history, and preferences. 
• Tailor marketing and sales strategies to address the unique needs of each customer segment. 

• Predictive analytics  
• Implement predictive analytics using CRM data to forecast future sales trends and identify potential opportunities. 
• Use predictive modeling to prioritize leads and focus efforts on prospects with a higher likelihood of conversion. 
• Lead scoring systems  

• Utilize lead scoring systems within your CRM to prioritize leads based on their likelihood to convert.  
• This helps the sales team focus on high-potential opportunities. 
• Workflow automation:  
• Implement workflow automation tools to streamline and automate routine tasks, reducing manual effort and allowing the sales team to focus on high-value activities. 

• Real-time analytics   
• Provide the sales team with real-time analytics dashboards that offer instant insights into performance metrics, allowing for quick adjustments to strategies as needed. 
• Minimize distractions and maximize productivity by ensuring your team is seeing only what is relevant.  

• Sales performance management   
• Sales performance tools like LeadSquared’s Ace , feature leaderboards and gamification to create friendly competition. Real-time rankings and rewards encourage a motivated and competitive spirit among team members. 

• These tools track key performance metrics, allowing individuals to set and monitor goals. The transparency promotes accountability, fostering a results-oriented mindset and encouraging continuous improvement. 
• You can break down targets into smaller units by specific cycles to see how your team performs in regular intervals. Performance tracking tools can help you gain increased visibility into you team’s performance by analysing various aspects of their goal, dependencies in the process and more.
• Ace, for example, enables you to analyse not just the performance of your direct team but also their respective hierarchies. If you’d like to see how Ace further helps influence the performance of efficiency of your sales reps, book a free demo now ! 

II. Outlining the use of other software and resources  

• Artificial Intelligence (AI) tools  
• Explore AI-driven tools for sales forecasting, lead scoring, and personalized customer interactions. 
• Leverage AI algorithms to automate routine tasks, freeing up the sales team to focus on strategic activities. 
• Integration with marketing automation  
• Integrate sales tools with marketing automation platforms to align marketing and sales efforts. 
• Ensure a seamless handover of leads from marketing to sales for a cohesive customer journey. 

• E-learning platforms  
• Utilize e-learning platforms for ongoing training and development. 
• Offer a variety of learning resources, including videos, webinars, and interactive modules, to cater to different learning styles. 
• Customer feedback software  
• Implement customer feedback software to gather insights directly from customers. 
• Analyze feedback to identify areas for improvement and incorporate customer suggestions into the sales strategy. 

III. Choosing the right sales channels  

• Social media integration  
• Integrate social media platforms into your sales strategy for customer engagement and lead generation. 
• Utilize social listening tools to monitor conversations and trends relevant to your industry. 
• Mobile sales apps  
• Develop or utilize mobile sales apps to empower the sales team to access critical information and collaborate while on the go. 
• Ensure mobile apps are user-friendly and provide real-time updates. 

• Global expansion strategies  
• Consider global expansion by identifying and entering new international markets. 
• Tailor sales channels to local preferences and regulations, considering factors such as language and cultural nuances. 

Getting the hang of using tools and resources is a continuous journey. By constantly tweaking strategies, you set the stage for long-term success in sales planning. 

How Does a CRM Help you Plan Sales? 

CRM (Customer Relationship Management) systems serve as indispensable tools in refining sales planning strategies.  

By replacing guesswork with precision and basing conclusions on data-backed insights, a CRM system injects agility and impact into your sales plan. Here’s the nitty gritty of how that goes down:  

1. Centralized data management  

• Insightful consolidation: Seamlessly gather and organize vital customer information, ranging from contact details to purchase history and preferences, facilitating a comprehensive understanding of clientele. 
• Lead prioritization: Effectively manage potential leads by meticulously storing pertinent details, enabling strategic planning and allocation of resources. 

2. Accurate sales forecasting  

• Analytical precision: Leverage historical sales data analysis to discern patterns and trends, enabling more accurate projections and informed decision-making. 
• Pipeline visualization: Gain valuable insights into the sales pipeline, facilitating proactive measures to capitalize on opportunities and mitigate risks. 

3. Efficient activity planning  

• Structured planning: Exercise meticulous control over sales activities through task scheduling and tracking, ensuring optimal utilization of time and resources. 
• Seamless integration: Harmonize sales activities with calendar schedules, minimizing conflicts and streamlining operational efficiency. 

4. Strategic lead and opportunity management  

• Lead progress tracking: Monitor lead progression through the sales funnel, adapting engagement strategies based on evolving customer behavior and preferences. 
• Opportunity optimization: Systematically manage sales opportunities to maximize potential deals, fostering a methodical approach to achieving sales targets. 

5. Targeted customer segmentation  

• Segmentation precision: Employ segmentation criteria such as demographics, behavior, and purchase history to tailor sales strategies to specific customer segments, enhancing engagement and conversion rates. 

6. Effective communication and collaboration  

• Comprehensive documentation: Maintain detailed records of customer interactions, facilitating informed decision-making and strategic planning for future engagements. 
• Collaborative integration: Foster teamwork and synergy among sales teams through centralized platforms for information sharing and collaborative efforts. 

7. Performance analysis and enhancement  

• Analytical insight: Harness the analytical capabilities of CRM tools to evaluate sales performance metrics, identifying areas for improvement and refining strategies for optimized results. 

In summary, a powerful CRM like LeadSquared streamlines sales planning by centralizing data, enabling accurate forecasting, supporting activity planning, managing leads and opportunities, facilitating customer segmentation, promoting communication and collaboration, and providing performance analytics for continuous improvement.  

With LeadSquared, your sales plan transforms into a dynamic roadmap, driving efficiency, maximizing opportunities, and propelling your business to unprecedented success. Ready to transform your sales planning and propel your business to new heights? 

Book a demo!  

Conclusion 

A solid sales plan is the cornerstone of a successful business strategy, guiding your team towards achieving revenue goals and fostering long-term customer relationships.  

As you delve into the intricacies of sales planning, consider the game-changing capabilities offered by LeadSquared. This all-in-one CRM solution seamlessly centralizes customer data, refines sales forecasting, streamlines lead management, and enhances team collaboration.  

A good sales plan clearly outlines revenue targets, identifies key customer segments, and incorporates strategies as per your market segment and competition. 

A sales plan is only effective if it reflects a thorough understanding of your customers and your sales team. What do your customers want and is your team equipped to deliver?   To know the answer to that, you need real-time analytics.  These analytics serve as a compass guiding your sales plan and ensuring it stays relevant. 

That depends entirely on the market and its components, including shifts in customer behaviour, trends in your niche and competitor strategies.  However, a general rule of thumb calls for a quarterly assessment of your sales plan and its effectiveness. 

Saleha Mariam is a marketing enthusiast with an affinity for all things business and a fondness for the written word. She is presently interning at LeadSquared as a Content Writer. You can reach her on LinkedIn or write to her at [email protected]

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Sales Planning: How To Create a Sales Plan (+ Template)

Sales planning helps you set goals, forecast revenue, and chart a course to growth. With an easy-to-use sales planning template, you’ll be set up for success.

You can buy and hire all the resources to build a house. But without blueprints, you’ll end up with a stack of boards, piles of nails, and construction workers twiddling their thumbs.

Sales teams need a blueprint, too. It’s called sales planning. Like a construction blueprint, sales planning ensures your resources are put to their best use, and team members are focused on what’s most important.

“If you’re not looking at the sales data and making a plan, you might be giving equal weight to all of your products when there are a few that are really the workhorses,” says Shawn Khemsurov, cofounder of strategic design and development agency Electric Eye . “ Those are the products you should invest in and focus on.”

Learn how to create an effective sales plan that aligns with your business objectives, and keeps your sales team driving growth.

What is sales planning?

Sales planning is a set of processes to drive sales for a business—specifically, setting sales goals and outlining the actions needed to achieve them.

The sales planning process helps leaders understand market conditions, analyze customers and trends, allocate resources effectively, and set realistic sales targets.

Sales plan template

Sales planning templates can provide a good framework for you to get started with sales planning. Shopify’s free sales plan template makes it easy to visualize your goals for the year or quarter and keep your team on track.

Sales planning process

• Analyze market conditions and historical performance
• Identify and understand your target audience
• Determine sales goals
• Set strategy
• Allocate budget and resources
• Create action plans
• Monitor sales performance and adjust accordingly

Create a sales plan by following these steps:

1. Analyze market conditions and historical performance

To position your products well and set appropriate goals, you’ll first need to understand what’s going on both inside and outside of your company.

Pull data from your preferred ecommerce analytics tools to analyze your company’s past performance and your customers’ behavior, looking at key performance indicators (KPIs) like conversion rate , session length, and average order value (AOV). This will help you identify areas of strength and opportunities to improve within your sales process.

Also, perform external market research to understand trends, evolving customer needs, and the competitive landscape. Shawn recommends asking yourself a series of questions to help dig deeper into the market and your brand’s place within it.

“Who else is selling in this category? How much are they charging?” says Shawn. “Is the market saturated? If so, what’s our differentiator that we can play up? Or is there a niche that isn’t being served that we can develop something around?”

2. Identify and understand your target audience

Once you’ve identified some overall business and market trends, you can use the same analytics reports to learn more about your target customers. You can divide your target market into smaller customer segments based on details like geography, preferences, and pain points.

Deeply understanding these different audiences can help you market effectively and identify your best customers, both of which can fuel sales and, ultimately, business growth.

3. Determine sales goals

Armed with both internal and market data, you can set clear goals for your sales reps. Consider using the SMART goals framework to ensure your sales objectives are strategic, measurable, actionable, achievable, relevant, and time-bound (i.e., SMART).

Most sales teams have revenue goals, but you might set sales goals that involve market share, the number of new customers acquired, a reduction in customer churn , or channel-specific sales.

4. Set strategy

Identify specific methods and sales techniques that your team will leverage to achieve sales goals. Depending on your business, you can leverage a variety of sales tools and marketing strategies including:

• Email marketing campaigns
• Influencer partnerships
• Search engine optimization
• Retargeting ads
• Content marketing
• Social media advertising
• Sales automation
• Website redesigns

Your data analysis and market research can help guide you to the best techniques for your needs. For example, you might find that your average order value is solid, but you need to market more widely to draw more people to visit the site. Or perhaps your site traffic is good, but people drop off rather than convert with a purchase—suggesting an update of your product page or checkout process may be in order.

Market your business with Shopify’s customer marketing tools

Shopify has everything you need to capture more leads, send email campaigns, automate key marketing moments, segment your customers, and analyze your results. Plus, it’s all free for your first 10,000 emails sent per month.

5. Allocate budget and resources

Focus is important not only to avoid being overwhelmed, but to allocate resources accordingly. Sales teams rarely have unlimited budgets, so you’ll need to decide how much to invest in each of your sales activities, including marketing campaigns , promotions, partnerships , and staffing.

6. Create action plans

Outline and assign the specific actions required to execute each sales strategy. A successful sales plan lays out clear timelines and expectations.

For example, a set of sales representatives may be called on to contact 25 leads and set 10 sales appointments by the end of the month. Or, sales managers could assign them to check in with all existing customers on their accounts to ensure retention and attempt to upsell with new complementary services.

Depending on your strategies, action plans may include delegating tasks to people outside the sales organization. For example, an email newsletter or content marketing strategy requires looping in the marketing team to create these assets. Marketing and sales alignment is crucial in this example to ensure sales messaging is maintained.

7. Monitor sales performance and adjust strategies accordingly

Effective sales planning involves keeping track of what works and what doesn’t to inform future plans.

Define the metrics you’ll use to measure the effectiveness of each sales strategy you choose, and identify data sources and tools to help you track sales success. You may find one strategic process isn’t as successful as others, or that you need to swap strategies over time.

Tips for sales planning

Set realistic goals, focus on what’s most impactful.

• Allocate resources to get the most bang for your buck

Align planning and goals to overall business objectives

Here are a few tips sales leaders can use to create effective sales plans:

Dream big, yet not too big. “Reach” goals can help your team strive to achieve more, but be careful to strike a balance.

There’s a fine line between aspirational and unrealistic, and if you’re on the wrong side of things, your sales team will end up frustrated.

Setting impossible revenue targets and other goals helps no one. Ensure your objectives are realistic based on past sales efforts, historical performance, and market research.

Dig enough, and you’ll find seemingly endless tools, strategies, and potential ways to boost future sales. But not every method is right for your business, right now.

“It’s easy to get overwhelmed,” Shawn says. “Simplify your focus to the few key areas that have the biggest impact on your sales, and figure out how you can attack those hard.”

Allocate resources to get the bang for your buck

Monitor your sales and strategies to see which efforts have the greatest impact, and put your resources into them.

For example, you may find promotions or abandoned-cart email campaigns tend to bring customers to the site. In other cases, factors like supply chain issues and low inventory might be denting your sales.

“Some shops are surprised to find it’s a small number of products that are really pulling the weight—so in that case, you want to make sure you’re always in stock,” Shawn says.

“If a customer on your site can’t make that purchase, it’s frustrating for them and a lost sale for you. Fixing that problem can have a massive effect on your sales, because even the best marketing messaging doesn’t help if you don’t have a product to ship.”

As you perform sales planning activities—whether it’s conducting an in-depth competitive analysis, reorganizing the sales team structure, or forecasting sales—never lose sight of the overall business plan .

Not every company is necessarily focused on how much revenue they can generate or increasing the sales quota. Instead, they may be looking to break into new geographic areas, reach new target markets, or overcome the sales team’s challenges in explaining the product’s differentiators. You define what sales success means, based on your company’s overall goals right now.

Sales planning FAQ

What is the first step in the sales planning process.

Analyze internal data and external market trends to better understand sales opportunities and your customers. This will help you develop informed, clear, realistic sales forecasts and goals.

Why is sales planning important?

Sales planning is important because it provides a structured approach to achieving sales goals. It helps companies set data-based goals, select appropriate sales techniques, allocate resources effectively, track progress toward sales goals, and adjust strategies over time.

What should be included in a sales plan?

A sales planning template often includes an executive summary, sales goals, market trends and historical sales data, audience data, sales strategies, budget and allocations, action plans, and monitoring.

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What Is A Sales Plan? | How To Create Your Own + Sample Sales Plan Template

Find out what a sales plan is and learn how to create your own sales plan template with this guide.

RELATED: Marketing and Sales: Why They Need Each Other

In this article:

What Is a Sales Plan?

• Who Creates and Benefits from the Sales Plan?
• Why Do You Need a Sales Plan?
• Where Does the Sales Plan Fit Within Your Business?
• When Should You Create and Update Your Sales Plan Template?
• Mission, Vision, and Background
• Goals and Timeline
• Team Members
• Target Market
• Market Position
• Marketing Strategy
• Prospecting
• Action Plan

Sample Sales Plan Template

Other sales plan templates, how to write a sales plan template.

A sales plan is a strategy wherein you lay out your objectives, tactics, potential challenges, and target market . Here, you also identify what steps you’ll execute to meet your objectives.

Typically, a sales plan template has the following parts:

• Target market
• Revenue and/or volume targets
• Deadlines and Directly Responsible Individuals (DRIs)
• Team structure
• Strategies and tactics
• Pricing and promotions
• Market conditions

What Is The Difference Between A Sales Plan And Business Plan?

A business plan describes the financial and operational objectives of a business. A sales plan is similar to a business plan, but it zeros in on the sales strategy. 

In other words, a business plan outlines the goals and a sales plan specifies how to reach those goals.

Who Creates a Sales Plan ?

Sales professionals are in charge of creating sales plans. Whatever position you hold, as long as you’re working within sales, it’s essential to be familiar with how to create a sales plan.

Ideally, sales reps should have the task of creating an individual sales plan as part of their training. This will give them an idea of how to write and work with a sales plan template.

Sales executives, sales managers, and entrepreneurs all benefit from having a sales plan. This is a very useful guide for your business, department, or sales team.

Why Do I Need a Sales Plan Template?

Having a sales plan template will help you:

• Identify your business’ sales targets
• Choose sales strategies that fit your target market
• Come up with tactics that will enable your sales team to execute your strategies
• Determine the budget you need for your sales efforts
• Activate and motivate your sales team
• Evaluate your goals regularly so you can improve your approach

Your strategic sales plan will keep your business and your sales team in check. This will also serve as your benchmark to assess your goals and accomplishments.

Perhaps the most important role of a sales plan is to act as your compass in terms of meeting your prospect and customers’ needs.

Where Does the Sales Plan Fit Within a Business?

Your sales plan template can be a part of your marketing plan, or it can also supplement it. As mentioned earlier, a sales plan is similar to a business plan, but it focuses more on strategy.

These three — the business, marketing, and sales plans — all serve the purpose of directing your sales team’s efforts. You map these out during the start of the fiscal year, for instance, and then build on them throughout the year.

When Should I Create and Update My Sales Plan Template?

A lot of businesses develop and improve their sales plan template when necessary. Some do it every 6 or 12 months. Generally, you’ll update your sales plan as new information becomes available. For example, your sales team has expanded or a competitor has left the market. You and your team should treat your sales plan as a live document that you can build and adapt when needed.

RELATED: 7 Ways to Boost Sales Effectiveness

How Do I Create My Own Sales Plan?

All good sales plans have one thing in common, it’s based on real data. Before you create a sales plan do research and collect updated information to base your plan on.

Do a SWOT analysis (strengths, weaknesses, opportunities and threats) to assess your current position and incorporate your findings into your sales plan.

Once you have done your research complete your sales plan with these basic elements:

1. Executive Summary and Scope

Not everyone will read every page of the sales plan. In this section, give an overview of the document.

The aim here is to provide context for your plan. Include the most important goals and strategies as well as the time frame specified in your plan.

2. Goals and Timeline

Next, it’s time to set your sales goals, which could be revenue or volume-based. Make sure you set realistic goals so that in turn, your sales plan is doable.

When goal-setting, you need to factor in the following:

• Product price
• Total addressable market (TAM)
• Market penetration

Most likely, you’ll have more than one goal. The key is to identify which ones are high-level, and which ones will enable you to achieve those high-level goals.

As you prioritize each goal, set a timeline to achieve them. This will let you know if you’re ahead, on track, or behind in meeting targets.

If applicable, identify who the directly responsible individuals (DRIs) are. For instance, set quotas for your individual sales reps so they can all contribute to a common objective.

In some cases, identifying the DRIs will let you avoid replicating work and shifting blame, as each person has a specific task relevant to the goal.

3. Team Members

Enumerate who your team members are and what roles they have. If you’re anticipating to add to that headcount, include the following as well:

• The number of employees you want to add
• Each employee’s job title
• When you plan to onboard them in the team

4. Target Market

Knowing who your target market is for every product or service is crucial. When working on this, imagine what your ideal customer would be like.

While it’s important to have a single buyer persona, be open as well to the possibility of having different buyer personas for each product or service you offer.

Your target market can change over time as your sales strategy and business solutions evolve. As you go along, you’ll eventually learn which market fits a product or service better.

This is why it’s important to be consistent in evaluating and updating your buyer personas.

5. Resources

Your sales plan template should also include the list of resources, tools, and software your sales team will utilize to achieve your goals.

This also means including what your salespeople will use to accomplish their jobs. Some examples of these are training, sales enablement tools, and sales reports , among others.

6. Market Position

In this section, you will list down who your competitors are. Explain here how your offers compare to theirs — both the pros and cons.

You should include the pricing comparison between you and your competitors as well. Also, don’t forget to discuss the current trends in the market, and try to predict what kind of impact they will have on your business.

7. Marketing Strategy

Here you will dive further on two marketing mix elements — price and promotion. Describe your pricing strategy and go into detail on the promotions you’re planning to run.

What tactics will you implement to increase awareness for your brand and to generate leads? While you digest on this, don’t forget to figure out how this will impact your sales.

8. Prospecting

What will be your strategy when it comes to prospecting ? List down the criteria that your sales reps need to look for in leads and prospects before they reach out.

Along with this, you should also identify the sales methods your sales team will employ to close more deals.

9. Action Plan

You now have your goals, so it’s time to come up with action plans that will help you reach them. This is basically your game plan to hit the revenue targets you set.

To create an action plan, follow this simple process:

• Set an objective
• List down the tasks that will help you accomplish the objective

Lay out the costs that will come with hitting your sales goals. To make sure that your sales plan budget is accurate, compare it with your sales forecast.

Tips To Keep In Mind When Writing Your Sales Plan 

• Set practical and reasonable goals.
• Look at historical performance data to help set achievable targets.
• Do in-depth research and use this to identify problems and opportunities.
• Get input from your sales team.
• Be specific and concise.
• Don’t forget to monitor the progress of your sales plan. Your plan should adapt and evolve to fit the current situation (Unexpected changes in the market, new sales members etc.)

Here’s a handy sales plan template based on the elements mentioned above. Fill in each part as a starting point in creating your own template.

Name of Company:

Prepared by: 

I. Executive Summary and Scope

Write 3-4 lines to summarize the rest of the document.

II. Goals and Timeline

Sample Sales Goals and Timeline

• April 2020: $10,000
• May 2020 $10,000
• June 2020: $12,000

III. Team Members

• Name — job title

Describe the role, including tasks and expectations. Also, include information about onboarding. 

IV. Target Market 

Buyer Persona 

Thoroughly describe who this person is — basic demographics, what their lifestyle is like, interests, etc. 

V. Resources 

Make a list of resources, tools, and software employees need to perform their tasks and for the team to achieve the sales goals

VI. Market Position 

Competitors

Similarities and Differences Between Products/Services

Pricing Comparison 

Current Market Situation

Include information about any market or industry trends that may impact you or your competitors. 

VII. Marketing Strategy 

Sample Pricing and Promotional Strategy:

• Pricing Strategy: Lower price from $500 to $450 on June 1.
• Sales Impact: Increase monthly sales by 10%
• Promotional Strategy: Run a customer referral incentive from June 15-30.
• Sales Impact: Increase monthly sales by 15%.

VIII. Prospecting 

Prospecting Strategy

Identify sales methods reps will use to close deals. 

Criteria to Qualify Leads:

IX. Action Plan

Objective #1: 

Sample Costs:

• Salary/Commission
• Sales Tools and Resources
• Travel Expenses

If you’re stuck with your own sales plan template, try going by any of these templates:

• One-Page Sales Plan by The Balance
• Free Sales Plan Template by Fit Small Business

There is no one-size-fits-all sales plan. Take your time to identify opportunities and ways to overcome challenges.

Lastly, remember to monitor your progress and to update your strategic sales plan to optimize performance.

What challenges do you experience when creating a sales plan? Tell us in the comments section below!

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16 Sales Plan Templates to Plan Your Sales Strategy

Written by: Olujinmi Oluwatoni

Crafting an effective sales plan creates the stage for your sales team to exceed targets and secure those coveted wins.

But let’s face it, it demands hours of meticulous planning. On top of that, time is a luxury that can be hard to find amidst a whirlwind of meetings, pitches and follow-ups in sales.

That’s why sales plan templates come in handy. They streamline your sales planning efforts, enhance productivity and ultimately improve your team’s chances of achieving sales targets.

In this article, we’ve curated a collection of the finest templates out there, designed to rescue you from the time-consuming ordeal of creating your sales plan from scratch.

Let's get to it!

Table of Contents

Benefits of using a sales plan template, 16 sales plan templates you can use.

• How to Create a Sales Plan Template With Visme
• Utilizing a template when creating a sales plan is time-efficient, creates structure and organization, ensures consistency and facilitates communication and alignment.
• To create a sales plan template with Visme, sign up or login to Visme, choose a template, gather all the necessary information you need, customize the template and download or share the document.
• Visme offers a user-friendly interface with a wide range of customizable templates, advanced features and AI-powered tools to help you create stunning sales collaterals, sales enablement content and sales plans that will help you captivate your audience and accelerate your sales growth.

Using a template to jump-start your sales plan creation offers a number of benefits.

Let's take a look at some of the benefits:

• Structure and Organization: A sales plan template provides a structured format, guiding you through essential steps to create a comprehensive sales plan. With a template, you can capture all necessary elements, like setting goals, outlining the target market, sales strategies , timelines and lots more.
• Time Efficiency: Using a template saves time by eliminating the need to create your plan from scratch. You can focus on customizing the template to your specific business needs rather than starting from a blank page.
• Consistency: A standardized sales template ensures consistency across different sales teams or periods. This means you can easily track progress and compare results.
• Communication and Alignment: A well-structured sales plan template aids in communicating goals, strategies and expectations to stakeholders, ensuring everyone is aligned toward common objectives.

Build relationships with customers and drive sales growth

• Reach out to prospects with impressive pitch decks and proposals that convert
• Monitor clients' level of engagement to see what they are most interested in
• Build a winning sales playbook to maximize your sales team's efficiency

Sign up. It’s free.

There are so many ways Visme can help you close more sales . For a start, we've carefully selected these pre-made sales plan templates to jumpstart your process. Each template can be fully tailored to suit your business needs.

Here’s what one of Visme's clients had to say about our templates and service:

Creative Director

Now, let’s get to the templates!

1. Sales Business Plan One Pager

Looking for a way to efficiently communicate the critical information of your sales plan to stakeholders in a concise format without overwhelming details? This sales business plan template is your silver bullet.

It uses a mix of subtle and bold colors to emphasize content, making it visually impactful. You can utilize the template sections to capture your sales tactics, goals, target audience, key performance metrics and more.

Short on time? Try Visme's AI document generator to quickly create your business sales plan or any document. Just input your prompt, offer some context, choose a design and watch it generate your draft in seconds.

2. Sales Employee 30-60-90 Day Plan

Take advantage of this sales employee 30-60-90 day plan for efficient onboarding of your new sales team members. This minimalistic template features a clean white background with black and grey accents. Each page also boasts engaging visuals that complement the content.

Utilize the template’s sections to outline specific objectives, goals and actionable steps for the first 90 days, including growth strategies, sales targets and more.

Make your sales plan engaging by incorporating animations and interactive elements like animated text, graphics, hotspots, pop-ups and hover effects to reveal additional information. With these additions, your team members can go through the plan in a more engaging way.

3. Company Territory Sales Plan

Create a strategy to refine your sales efforts within specific territories with this sales plan. It features sections for defining territories, identifying target customers, setting sales objectives, implementing tactics and evaluating performance.

With a vibrant purple color scheme, impressive fonts, icons and a sleek minimalist layout, this template ensures your sales plan stands out.

Easily leverage Visme's AI Touch-Up Tools to fine-tune your visuals, whether it's sharpening, removing backgrounds, or replacing elements, ensuring your images are perfect for the template.

4. Sales Budget Plan

This sales budget plan template is an indispensable asset for businesses aiming to effectively manage finances while optimizing sales strategies .

The template comprehensively covers vital budgeting aspects, encompassing revenue objectives, cost of goods sold, sales expenses and allocation for marketing and promotional endeavors.

Its structured use of color schemes, typefaces, fonts and design elements ensures a coherent and engaging document.

Avoid the hassle of manually incorporating brand elements repeatedly. With Visme's brand design tool , simply input your website URL and watch as it automatically integrates your brand assets into your brand kit.

5. Business Development Sales Plan

Need to create a business plan that’ll drive business expansion? This template is your sure bet.

It not only employs a stylish fusion of colors but also integrates captivating visuals, icons and data widgets in each slide.

With sections spanning company overview, launch plan, target market, goals, plans, budget and more, this template simplifies sales planning processes.

Engage your team seamlessly through Visme's collaboration tool , fostering commentary, annotations and idea exchange for refining the plan collaboratively. With Visme's workflow feature, you can effortlessly manage roles, tasks, progress and deadlines in a unified platform.

6. Product Market Expansion Sales Plan

Seeking to introduce your products to new markets or expand within existing ones? This product market expansion sales plan template is your best bet.

It features a bold, modern design adorned with vibrant colors, compelling imagery and dynamic graphics, offering a visually engaging way to present your ideas.

This sales planning template features detailed sections covering market analysis, competitive landscape, marketing strategies, distribution channels, sales tactics and performance metrics.

Customize colors and fonts and leverage customizable charts and widgets. You can use Visme’s library of data visualization tools , including charts, graphs, maps, and widgets, to create concise sales pitch presentations .

7. Company Sales SOP Plan

This company sales SOP plan template is an essential asset for businesses seeking to efficiently standardize and streamline their sales procedures.

What sets the template apart is its incorporation of captivating visual elements. The images and graphics elevate the document's visual appeal, while the vibrant color palette sparks emotions and enthusiasm. The layout also ensures a clutter-free presentation and directs focus towards critical aspects of the content.

You can utilize the template’s sections to provide a detailed description of your goals, workflow and protocols for your sales activities.

Leverage Visme’s dynamic fields to effortlessly update information, data and dates across multiple projects with a single click. Dynamic fields enable swift adjustments to company details, results, or sales plan recipients, ideal for distributing multiple proposals to various stakeholders.

8. Consulting Revenue-based Sales Plan

This sales plan example is a specialized framework crafted specifically for consultants and consulting firms seeking to propel revenue growth through strategic sales initiatives.

Designed with a white background, balanced black tones and accents of orange and gray, this template offers a harmonious visual aesthetic that exudes vibrancy.

Dedicated sections within the template focus on client acquisition strategies, service offerings, pricing models, sales pipelines and performance metrics directed towards revenue targets.

Struggling with content creation? Visme's built-in AI writer simplifies the process. This sophisticated tool aids in text creation, modification and proofreading, saving valuable time and energy while ensuring the production of high-quality content. Just input your prompt and watch the tool perform its magic.

9. Sales Cloud Software Sales Plan

Tailored for software sales managers or sales teams in tech companies, this template is your compass for crafting an impactful sales strategy for your company.

The template features a color palette blending a white backdrop with accents of lemon and black tones. It also employs subtle shadows, clean lines and ample open spaces, which improves readability.

Use the template’s sections to highlight your market analysis, target audience identification, competitive positioning, sales strategies, customer acquisition tactics and lots more.

Your sales plan doesn’t have to be boring. Spice it up with visually appealing images and interactive icons. Simply browse through Visme's vast collection of stock photos, icons and more to choose the visual that suits your needs.

If you cannot find the exact you need, then utilize Visme's AI image generator. This feature allows you to craft unique photos, paintings, pencil drawings, 3D graphics, icons, abstract art and beyond. Just input a precise prompt and begin generating your personalized visuals effortlessly.

10. Sales Business Plan Infographic Template

Creating a comprehensive sales plan often entails complex steps, which might pose challenges when presenting to potential stakeholders. This template offers a concise yet thorough way to showcase your plan, emphasizing crucial elements while minimizing excessive text.

Its dynamic presentation, enriched with a captivating fusion of colors and visuals, offers an impactful way to convey information.

The template’s sections allow you to visualize your goals, timelines, market analysis, strategies, performance metrics and more.

You can utilize this template for your sales meetings, strategy sessions, or as a comprehensive reference tool for your sales team.

11. SaaS Product Sales Plan

Craft a high-impact sales approach for SaaS products effortlessly with this template. Whether you're a SaaS startup founder, a product manager, or part of a tech company's sales team, this template will help you create a concise plan.

This template has a sleek white background complemented by shades of green and nude tones. Its design elements, coupled with compelling charts and graphics, also make it a breeze to convey your sales insights.

The template’s section covers essential sections such as market analysis, target audience profiling, competitive assessment, pricing strategies and customer acquisition tactics.

What's more, you can download your design in JPG, PNG, or PDF formats for printing or easy sharing with team members for collaborative efforts.

12. Digital Marketing Agency Sales Plan

Designed for digital agency owners, sales managers, or marketing teams, this template offers a structured approach to craft a robust sales strategy.

With a sleek, contemporary design, user-friendly layout and engaging visuals, this template effectively conveys your vision and offers a detailed roadmap to accomplish your agency's objectives.

It covers sections on market analysis, target audience identification, service offerings, pricing strategies, lead generation tactics and performance metrics. Tailor the template to match your brand's style, ensuring a unified and visually appealing plan.

13. Real Estate Sales Plan

Tailored explicitly for real estate agents, brokers, or agencies, this template is a great tool to outline strategies to proficiently market properties and close deals. It employs captivating fonts, vibrant colors and graphics that’ll engage your sales team members.

You can utilize the template’s sections to outline your executive summary, sales goals and KPIs , revenue targets, target markets, marketing strategy, prospecting strategy, budget and lots more.

14. Marketing Agency Sales Plan

For your marketing agency's success, a well-organized sales plan is pivotal. This marketing agency sales plan is a great tool to craft a robust sales strategy that attracts clients effectively.

The modern design boasting a harmonious color palette, enriched with images and icons gives the plan a great visual appeal. It includes sections to detail your market analysis, target audiences, service offerings, pricing strategies, lead generation tactics, budget allocation and performance metrics.

For added flair, you can animate this annual sales plan template with illustrations, incorporate characters and integrate clickable interactive icons.

15. Health Insurance Sales Plan

This specialized health insurance template is crafted exclusively for insurance professionals aiming to optimize their sales strategies, specifically for health insurance products.

The template provides a refined layout while integrating vibrant and compelling imagery. It covers comprehensive sections on market analysis, identifying target audiences, competitive analysis, pricing strategies, lead generation tactics, regulatory compliance and performance metrics.

Effortlessly incorporate data from platforms such as Google Sheets, Excel and various tools directly into your charts and graphs. Once connected to your data sources, your charts and graphs will dynamically adjust to any changes in the external data, keeping your information organized and up-to-date.

This feature boosts the professional quality of your sales plan while simplifying data handling.

16. Customer Product Sales Plan

This Customer Product Sales Plan template offers a strategic framework designed for businesses seeking to enhance sales by prioritizing the customer's perspective. The striking combination of grey, black, and white gives it a great visual appeal.

From sections like customer segmentation, market analysis, product positioning, sales tactics and more, this template has everything you need to create a comprehensive sales plan.

For detailed tracking of data, leverage Visme analytics . Monitor views, engagement and interactions to gain insights into audience interaction with your visual content. You can easily track your audience’s activities by customizing and saving each document separately with the prospect's name.

How to Create a Sales Plan Template with Visme

With the wide variety of features and templates available in Visme, you can quickly whip up visually appealing and professional sales business plans.

Here’s how to write a sales plan using Visme.

Step 1: Register or Log in to your Visme Account

Create a new Visme account or sign in if you're already a user. Once logged in, you can dive into Visme's impressive array of features and tools.

Step 2: Choose a Suitable Template

Choose a sales plan template that matches your unique needs and objectives. Visme offers an extensive collection of professionally designed templates tailored to your project or initiative.

Step 3: Input Relevant Content

Once you’ve selected your template, the next step is to input relevant information into it. The information you’ll require here depends on the type of sales plan template you’ve chosen.

Simply replace the template’s placeholder content with yours. With Visme's user-friendly editor, you can quickly and easily add, edit, or remove pages and content to suit your needs.

Step 4: Input Your Sales Data By Integrating Visme With Your CRM

A sales plan typically includes various sales data such as target market analysis, sales strategies, product or service details, and lots more.

One of the perks of using Visme to create your sales plans is that it offers seamless integration with CRM tools like Salesforce and HubSpot. This connection enables direct input of your sales data and client information from your CRM into your visual content. This way, you can showcase up-to-date sales data within your sales plan.

The integration also allows easy export of projects created in Visme to your HubSpot or Salesforce storage. When you have all your sales data in one central place, you create a single source of truth for your sales team.

This will aid the effective execution of your sales activities.

Here’s how to set up Visme’s integration with Hubspot or Salesforce:

• Go to the Visme Apps section and click HubSpot or Salesforce
• Log in to your HubSpot or Salesforce account using your credentials to connect your account to Visme.
• Access your HubSpot or Salesforce files within Visme, then select the specific file you want to incorporate into your Visme project.
• When you are done with the project, select the dropdown next to the Download button to export the file directly to your HubSpot or Salesforce storage.

Step 5: Customize the Template

Once you've selected a template and gathered the necessary information for your sales plan, the next step involves crafting the content and personalizing the template to suit your needs.

Simply replace the placeholder content in the template with your own. Visme's user-friendly editor allows you to seamlessly add, edit, or delete content and rearrange design elements across the canvas.

You have the flexibility to modify text by adjusting font size, style, color, alignment and even add animations. Easily tailor section headings, include or exclude sections and ensure the content aligns perfectly with your project or organization.

Earlier, we highlighted several features and design elements within Visme that will assist you in customizing your sales plan templates. Take advantage of these tools and features to craft visually appealing and professional sales plans tailored to your needs.

Step 6: Download and Share

Publish and share the completed sales plan with relevant team members and stakeholders. You can download designs in PDF, JPG, PNG, or HTML5 formats or easily share them via email or a shareable link. Plus, effortlessly publish your content anywhere online by generating a code within the Visme app.

Sales Plan FAQs

Q. what are the 7 steps to creating a sales plan.

Here are 7 steps to create a sales plan:

• Review Sales and Customer Data
• Set Clear Objectives
• Identify Gaps and Opportunities to Improve
• Define Sales Strategies
• Establish KPIs
• Create an Action Plan
• Allocate Budget and Resources:

Q. What Should a Good Sales Plan Include?

A typical sales plan includes the following sections:

• Executive Summary
• Sales Goals
• Target Market
• Competitors Analysis
• Action Plan
• KPIs to Measure
• Team Structure

Q. What Does a Sales Strategy Plan Look Like?

A sales strategy plan typically consists of several key components, including:

• Market Analysis
• Value PropositionTarget Audience
• Sales Objectives
• Sales Channels
• Sales Tactics and Techniques
• Resource Allocation

Q. How Do You Write a Sales Strategy Plan Template?

Follow these steps to write a sales strategy plan template:

• Analyze the Market and Persona
• Define Your Sales Goals
• Analyze Current Position and Opportunities
• Align Sales and Marketing
• Create Sales Strategies
• Define Sales KPIs
• Map Out Your Action Plan
• Evaluate Budget and Resource
• Create a Timeline

Easily Design Captivating & Data-Driven Sales Plans with Visme

A well crafted sales plan will help you focus efforts, allocate resources effectively and adapt to market changes, ultimately contributing to sustainable profitability.

Thanks to Visme, creating your sales plans doesn't have to be overwhelming.

Visme is a comprehensive tool for effortlessly creating engaging and data-driven sales plans. Its broad range of features, customizable options, AI-powered tools, and templates allow for the creation of professional-quality plans.

You can also utilize Visme's real-time collaboration tools and versatile sharing options to seamlessly engage all stakeholders in crafting and conveying your sales plan, irrespective of physical proximity.

Beyond sales plans, Visme can be used to create various business assets, such as sales presentations, infographics, e-books, whitepapers and more.

Ready to level up your company's sales game? Sign up or book a demo to discover how Visme can help your sales team drive tangible results.

Put together stunning sales plans using Visme

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About the Author

Olujinmi is a Content writer for Visme who creates human-first SEO content. She loves helping businesses smash their ROI goals with strategic content development and optimization. When she’s not writing, you’ll find her composing songs.

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.

Published: 08/28/24

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, how to build a sales strategy, 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.

Free Sales Plan Template

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

• Target Market
• Prospecting Strategy

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Sales Strategy Types

The custome r is the most important element to consider when choosing your business‘s sales strategy. Once you’ve addressed their needs, you can start thinking about your sales team. Your sales strategy should offer a framework that attracts and engages prospects — while simultaneously enabling your team to build relationships.

Prospects‘ and teams’ needs and interests vary, so your sales strategy shouldn’t be one-size-fits-all. Every sales org should draw up the type of sales strategy that works best for its priorities. Here are some frameworks you can reference when putting yours together.

Outbound Sales Strategy

Outbound sales strategies are the legacy approach of most sales teams. In these systems, companies base their sales strategy on the seller, not the customer.

Outbound sales processes often include cold calling, purchasing email lists, and engaging in other cold prospecting techniques. As a result, daily success metrics are often based on the quantity of connections, not the quality.

Outbound sales teams often rely on manually-entered data to monitor their sales pipelines and coach their salespeople. To enhance efficiency, outbound sales teams may utilize software to automate certain tasks, though the integration might not be seamless. They may also run sales and marketing independently, which can create a disjointed experience for buyers.

Inbound Sales Strategy

Inbound sales strategies are the modern methodology for sales teams. Companies following an inbound approach base their sales processes on buyer actions, capturing seller and buyer data to monitor their pipelines and coach their salespeople.

Inbound sales strategies connect reps’ activities to the three stages of the buyer journey — awareness, consideration, and decision — encouraging sales teams to map their tactics to each step.

The inbound methodology also aligns sales and marketing, creating a seamless experience for buyers. Check out this post to learn more about inbound sales and how to develop an inbound sales process.

Inbound vs. Outbound Sales Methodology

Nowadays, much of the information needed to evaluate a product is available online — empowering buyers and making them less reliant on sellers for product knowledge and insight. That means that if sales teams don’t align with the modern buyer’s process. If they fail to add value beyond the information already available online, then buyers will have no reason to engage with a sales team.

As mentioned above, inbound sales benefits buyers at each stage of the buyer process, including:

• Consideration.

Inbound sales teams help buyers become aware of potential problems or opportunities and discover strategies to solve those problems.

Then, buyers evaluate whether the salesperson can help with their problem, and if the buyer thinks they can, they’ll purchase a solution to their problem. Inbound sales reps are helpful and trustworthy, creating partnerships rather than power struggles.

Consultative Selling

The modern sales professional should always act as a helpful, consultative resource for prospects. Consultative selling is a strategy that leans into that trend. It places emphasis on leading with relationship building and positioning the right product after that connection has been established.

This brand of sales involves certain key actions, including balancing questions with insights, developing trust with extensive product knowledge, active listening, and letting feedback guide conversations.

Obviously, this is an extremely high-level overview of the strategy — for a more granular picture of how it works, check out this article .

Account-Based Selling

Account-Based Selling (ABS) is a sales strategy that's rooted in locking in on key, higher-value accounts as opposed to casting a wide net for a broad range of prospects. With ABS, salespeople are expected to identify and pursue specific accounts that have high conversion potential.

That means salespeople are expected to conduct thorough, thoughtful research on prospects to more effectively meet them where they are. The strategy also places emphasis on collaboration with marketing — sales teams lean on their marketing departments to create personalized, targeted content for each account.

Ultimately, successfully executed Account-Based Selling rests on a sales team's ability to take a granular approach to really lock in on individual prospects' needs and interests. Salespeople leveraging the strategy also need to know how to prioritize the accounts they pursue.

ABS can be extremely effective if it's done right, but it does come with its share of risk — if your sales org elects to forego reaching out to a wide range of prospects in favor of connecting with key accounts, you generally have less room for error.

For a look at some other key methodologies that can inform your sales strategy, check out this article.

Below, I’ll walk through how to create a sales strategy plan for your team.

50+ for Social Selling on LinkedIn and Beyond

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

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.

That’s what thought leaders do. Indeed, a 2022 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.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.

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.

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.

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.

5. Implement a free trial.

HubSpot’s sales strategy report , free trials were the second most popular self-service tools among the survey's respondents for supporting sales strategies — with 41% citing it as one of the most effective of those kinds of resources.

Free Sales Training Template

Use this template to set up a 30/60/90 day sales training and onboarding plan.

• 30/60/90 Day Goals
• People to Meet
• Feedback/Review Process

Create great processes for hiring new members of your sales team.

First and foremost, create a list of criteria for sales managers to screen for when interviewing candidates. A well-defined job description and competency framework are also useful. These tools can help your team recruit and retain top talent.

Develop sales onboarding, training, and development programs.

Your training and onboarding program should prepare your sales team to sell effectively and efficiently. It should also help sales reps build advanced skills and industry knowledge.

But what if you don’t have the resources to develop comprehensive training in-house? In these situations, it may be worth considering combining organization-specific training with online sales training programs .

Create a motivational compensation and rewards plan.

Finally, once you’ve built a strong team, it’s vital to ensure your compensation plan is set up to motivate and retain them.

Many organizations connect sales compensation to organizational sales goals, but regardless of the specific compensation plan you choose, make sure that it meets or exceeds industry expectations. It should also inspire your team to celebrate individual and team achievements.

4. Create a plan to generate demand.

Now, it’s time to put together a detailed plan for how to target potential customers and increase their awareness of your offering. This may include using paid social acquisition channels, creating e-books, hosting webinars, and the many other strategies laid out in this article.

Featured Resource: Sales Plan Template

Free Sales Metrics Calculator

A free, interactive template to calculate your sales KPIs.

• Average Deal Size
• Customer Acquisition Cost (CAC)
• Customer Lifetime Value (CLV)

6. Track sales activities.

Data is key to an effective sales strategy plan. With sales activity metrics, you can go beyond individual team performance to understand your entire sales operation.

Collect a range of sales activity data.

Sales activity metrics can help you understand how the team approaches day-to-day sales as a whole. I’ve found that it can be helpful to track everything from the sales presentation to closing techniques.

Specifically, collect data to see how your sales team performs beyond call or deal numbers in activities, such as:

• Meetings scheduled.
• Presentations delivered.
• Proposals submitted.
• Sales presentation success rates.
• Closing techniques.

Then, comparing this data to other goal metrics can show you patterns, best practices, and areas for improvement.

Track, lead, and prospect sources.

It’s also vital to make sure you’re tracking where your prospects are coming from. For example, if you’ll be publishing thought leadership content or sourcing leads from social media, make sure that any link you share is trackable with a UTM parameter .

Trackable links aren’t just valuable for learning which channels are generating the most leads. They can also help you focus your resources on the channels that generate the most relevant, qualified leads for driving sales.

Focus on continuous improvement.

Once you have a complete set of analytics to track your strategy, use that data to refine your sales strategies, team knowledge, and plans. A clear, data-driven process will make it easier to use customer feedback to grow your sales. It will also give your sales team the agility to adapt to industry and market changes that may impact your business down the road.

Free Marketing & Sales SLA Template

Align Sales & Marketing goals with this free template.

• Initiatives
• Accountability
• Communication

Known for its consistent sales momentum and customer satisfaction, Shopify offers another great example of a highly successful sales organization. In a recent press release , Loren Padelford, shopify VP and general manager of Shopify Plus, shared his secret sauce for boosting sales.

Hire great people, not necessarily great salespeople.

Hiring is arguably one of the most essential components of a great sales strategy. Many sales managers, though, are misled into believing that they must hire sales superstars.

Instead, Padelford looks for six key traits when hiring salespeople: intelligence, work ethic, a history of success, creativity, entrepreneurship, and competitiveness.

The truth is that sales teams must first look for great people. Then, you can train them to help them become great salespeople.

Treat sales as a science, not an art.

Padelford describes how, thanks to modern digital tools, we can now measure sales down to the second. We can explain success with cold, hard data points, rather than turning to vague, qualitative assessments.

As such, every sales team today should be tracking their average deal size, average sales cycle length, lead-to-deal conversion rate, calls per day per rep, and the number of deals in the pipeline.

When tracked over time, each of these metrics can inform companies about the health of their sales process and help them pinpoint areas where they need to improve.

Build a smart, technological foundation.

Before Padelford took over the sales process at Shopify, sales reps would manually log phone calls and emails into a CRM, consuming five precious hours each week. With a sales force of 26 reps, that added up to 130 wasted hours per week.

Realizing this misuse of time and capital, Padelford led Shopify to adopt the HubSpot CRM . With this modern CRM, Shopify’s sales reps were able to receive notifications when prospects opened their emails, clicked links, and viewed document attachments.

In addition, its prospecting tool gave reps access to more than 19 million prospects, as well as detailed information about these prospects, such as estimated revenue, number of employees, suggested email addresses, and so on.

Maintain a high-quality pipeline by eliminating unqualified leads.

Shopify uses a 4/5 Threshold to filter out unqualified leads, thereby allowing its sales reps to focus on selling to leads who have a higher probability of becoming customers.

To evaluate whether a lead is qualified, a rep must have a concrete answer to four of the following five variables:

• Pain. Is the prospective customer experiencing a prominent business issue or challenge that requires them to make a change?
• Power. Is the prospective customer directly involved with the decision-making process? If not, who is?
• Money. Does our offering fall within their budget constraints?
• Process. What’s their buying process?
• Timeline. What stage are they at in the buyer’s journey? Will they purchase within a reasonable time frame?

Grow Better with Sales Strategies, Initiatives, and Templates

Every company can benefit from crafting a sales strategy plan. The free template below includes everything you’ll need to customize your strategy for your business and sales team.

Most importantly, regardless of what strategy you choose, always implement a buyer-first approach. With the strategies, initiatives, and examples described above, you’ll be on your way to leading a successful, high-performance sales team.

Editor's note: This post was originally written in April 2020 and has been updated for comprehensiveness.

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10 Steps to Create a Successful Sales Plan

Learn how to create a successful sales plan with 10 easy steps

Having a sales plan is a crucial part of business. Having unexpected times like these are specifically why a sales plan is necessary. A sales plan shared throughout the necessary teams will do a lot to keep their motivation up and goals aligned with everyone in the company. If you haven’t developed a plan already, now is the time to get started.

What is a Sales Plan and Why is it so Important?

A sales plan lays out your objectives, high-level tactics, target audience, and potential obstacles for your company. It’s like a traditional business plan but focuses specifically on your sales strategy as a whole. Having a business plan is a great way to lay out your goals, but a sales plan describes exactly how you’ll make those goals a reality. Sales plans often include information about the business’ target customers, revenue goals, team structure, and the strategies and resources necessary for achieving its set targets. If you’re wondering what a sales plan is and why it’s necessary to the growth of your company, consider these benefits and practices.

An effective sales plan should do the following for your team:

• Communicate your company’s overall goals and ambitions with everyone .
• Provide strategic direction for your sales teams day to day and future plans.
• Outline and detail all the roles and responsibilities for your sales team and leadership groups.
• Monitor your sales team’s progress towards your set goals.

When considering your sales plan, keep in mind that it will be the driving force and measure of your team’s productivity and organization. A good plan will keep your team motivated and strong despite unforeseen changes in the sales industry like COVID-19. 

The 10 Vital Components

• Establish Your Company Mission and Background. The best way to begin your sales plan is by writing down your vision and mission statement for company success. This will provide background information to guide the rest of your sales plan decisions. 
• Decide on a Target Market. Even if you’ve already written down facts about your target market, revisit it and make sure it’s accurate. It doesn’t matter how many times you’ve written out a description of your key demographic because it can always change. Ask the following questions when considering this: What does your best customer look like? What struggles does this customer face? Do they belong to a specific industry? etc.
• Make a Prospecting Strategy. Before your reps plan their routes, create a checklist of criteria to find a qualified buyer . Doing this pre-screening makes sure your reps don’t waste their time on unqualified buyers.
• List Everyone on Your Team. Write down the names and roles of your team members. This is a great way to keep your current team organized and helps you recognize what gaps in roles you might have. 
• Tools, Software, and Resources . Include a detailed list and description of all the CRM softwares, tools, training, and documentation you’ll need to run your business smoothly. If you find gaps in your resources, also include a list of what you plan to use in the future. Making a list of priced resources will also help you in the budgeting step of your sales plan.
• Name your competitors. Don’t be afraid to create a list of your competitors and figure out what they’re doing that you’re not. Explain how your products compare, where theirs are stronger than yours, and vice versa. In addition, discuss their pricing versus yours to give your potential clients all the information they need to pick your company for their services.
• Develop an entire Marketing Strategy . Marketing includes: pricing, paid partnerships, promotions you plan on implementing, and what key actions need to be taken to increase your brand awareness. Having solid marketing will result in clearer online visibility and more lead generation. Having sales and marketing strategies on the same page will ensure that the success of your company is amplified and well-known.
• Outline an Action Plan With Goals. Once you have identified your specific company objectives to work towards, you need to create an action plan to actually accomplish those set objectives. But don’t overcomplicate it. Creating a simplified action plan will make those objectives much more manageable. Your goals should be based on what you’ve already accomplished and how much you can and expect your team to progress from that knowledge. 
• Create a Budget. Consider the following when making your plan: salaries, sales training, sales tools and resources, team bonding activities, travel costs, electronic expenses, swag cost. 
• Include the Entire Team. Even if a portion of your sales plan does not involve an employee, involve them anyway. Sales plans are far more likely to succeed when they’re implemented by the entire staff. Having  transparent workflows  of how the company operates will also give them a better understanding of what it takes to keep a company afloat.

Create a Sales Plan Now

If you don’t have a sales plan yet, start today. Having a solid sales plan not only boosts the productivity of your company, it also keeps your team on the same page no matter where they are. Get started with a basic sales plan template now and adjust it to the wants and needs of your specific team as you grow.

What tips do you have from your successful sales plan?

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Here is a free business plan sample for a fruit and vegetable store.

Have you ever envisioned owning a bustling fruit and vegetable market that serves as a cornerstone of health in your community? Wondering where to start?

Look no further, as we're about to guide you through a comprehensive business plan tailored for a fruit and vegetable market.

Creating a solid business plan is crucial for any aspiring entrepreneur. It serves as a roadmap, outlining your vision, objectives, and the strategies you'll employ to turn your fresh produce venture into a thriving business.

To jumpstart your planning process with ease and precision, feel free to utilize our fruit and vegetable market business plan template. Our team of experts is also on standby to provide a free review and fine-tuning of your plan.

How to draft a great business plan for your fruit and vegetable store?

A good business plan for a fruit and vegetable market must cater to the unique aspects of this type of retail business.

Initially, it's crucial to provide a comprehensive overview of the market landscape. This includes up-to-date statistics and an exploration of emerging trends within the industry, similar to what we've incorporated in our fruit and vegetable market business plan template .

Your business plan should articulate your vision clearly. Define your target demographic (such as local residents, restaurants, or health-conscious consumers) and establish your market's distinctive features (like offering organic produce, exotic fruits, or locally-sourced vegetables).

Market analysis is the next critical component. This requires a thorough examination of local competitors, market dynamics, and consumer buying patterns.

For a fruit and vegetable market, it's imperative to detail the range of products you intend to sell. Describe your selection of fruits, vegetables, herbs, and any additional items you plan to offer, and discuss how these choices align with the preferences and needs of your customer base.

The operational plan is equally important. It should outline the location of your market, the layout of the retail space, your supply chain for fresh produce, and inventory management practices.

Given the nature of a fruit and vegetable market, it is vital to highlight the freshness and quality of your produce, your relationships with growers and suppliers, and adherence to health and safety standards.

Then, delve into your marketing and sales strategies. How do you plan to attract and keep customers coming back? Consider your approach to promotions, customer loyalty programs, and potential value-added services (like home delivery or a juice bar).

Incorporating digital strategies, such as an online ordering system or a robust social media presence, is also crucial in the modern marketplace.

The financial section is another cornerstone of your business plan. It should encompass the initial investment, projected sales, operating expenses, and the point at which you expect to break even.

With a fruit and vegetable market, managing waste and understanding the shelf life of products are critical, so precise planning and knowledge of your financials are essential. For assistance, consider using our financial forecast for a fruit and vegetable market .

Compared to other business plans, a fruit and vegetable market plan must pay closer attention to the perishability of inventory, the importance of a robust supply chain, and the potential for seasonal fluctuations.

A well-crafted business plan not only helps you to define your strategies and vision but also plays a pivotal role in attracting investors or securing loans.

Lenders and investors are keen on a solid market analysis, realistic financial projections, and a comprehensive understanding of the day-to-day operations of a fruit and vegetable market.

By presenting a thorough and substantiated plan, you showcase your dedication and readiness for the success of your venture.

To achieve these goals while saving time, you are welcome to fill out our fruit and vegetable market business plan template .

A free example of business plan for a fruit and vegetable store

Here, we will provide a concise and illustrative example of a business plan for a specific project.

This example aims to provide an overview of the essential components of a business plan. It is important to note that this version is only a summary. As it stands, this business plan is not sufficiently developed to support a profitability strategy or convince a bank to provide financing.

To be effective, the business plan should be significantly more detailed, including up-to-date market data, more persuasive arguments, a thorough market study, a three-year action plan, as well as detailed financial tables such as a projected income statement, projected balance sheet, cash flow budget, and break-even analysis.

All these elements have been thoroughly included by our experts in the business plan template they have designed for a fruit and vegetable market .

Here, we will follow the same structure as in our business plan template.

Market Opportunity

Market data and figures.

The fruit and vegetable market is an essential and robust component of the global food industry.

Recent estimates value the global fruit and vegetable trade at over 1 trillion dollars, with expectations for continued growth as consumers seek healthier eating options. In the United States, the fruit and vegetable industry contributes significantly to the economy, with thousands of markets and stores providing a wide range of produce to meet consumer demand.

These statistics underscore the critical role that fruit and vegetable markets play in not only providing nutritious food options but also in supporting local agriculture and economies.

Current trends in the fruit and vegetable industry indicate a shift towards organic and locally sourced produce, as consumers become more health-conscious and environmentally aware.

There is an increasing demand for organic fruits and vegetables, driven by the perception of better quality and concerns about pesticides and other chemicals. The local food movement is also gaining momentum, with consumers showing a preference for produce that is grown locally to support community farmers and reduce carbon emissions associated with transportation.

Technological advancements are influencing the industry as well, with innovations in vertical farming and hydroponics allowing for more sustainable and space-efficient growing methods.

Online grocery shopping and delivery services are expanding, making it easier for consumers to access fresh produce directly from their homes.

Additionally, the push for transparency in food sourcing continues to grow, with consumers wanting to know more about where their food comes from and how it is grown.

These trends are shaping the future of the fruit and vegetable market, as businesses strive to meet the evolving preferences and values of modern consumers.

Success Factors

Several key factors contribute to the success of a fruit and vegetable market.

Quality and freshness of produce are paramount. Markets that offer a wide variety of fresh, high-quality fruits and vegetables are more likely to build and maintain a dedicated customer base.

Diversity in product offerings, including exotic or hard-to-find produce, can differentiate a market from its competitors.

Location is also vital, as markets that are easily accessible to consumers will naturally attract more foot traffic.

Customer service is another important aspect, with knowledgeable and friendly staff enhancing the shopping experience and encouraging repeat visits.

Effective cost management and the ability to adapt to changing consumer trends, such as the demand for organic and locally grown produce, are crucial for the long-term viability of a fruit and vegetable market.

The Project

Project presentation.

Our fruit and vegetable market project is designed to cater to the increasing consumer demand for fresh, organic, and locally-sourced produce. Situated in a community-focused neighborhood, our market will offer a diverse selection of fruits and vegetables, emphasizing seasonal and organic options. We will partner with local farmers and suppliers to ensure that our customers have access to the freshest produce available, supporting sustainable agricultural practices and reducing our carbon footprint.

We aim to provide not just produce, but a holistic healthy eating experience by offering a range of complementary products such as herbs, spices, and artisanal condiments. Our market will be a hub for health-conscious consumers and those interested in cooking with the finest ingredients.

Our fruit and vegetable market is set to become a cornerstone in the community, promoting healthier lifestyles and fostering connections between local producers and consumers.

Value Proposition

The value proposition of our fruit and vegetable market lies in our commitment to providing the community with the highest quality fresh produce. We understand the importance of nutrition and the role that fruits and vegetables play in maintaining a healthy diet.

Our market will offer a unique shopping experience where customers can enjoy a wide variety of produce, learn about the benefits of incorporating more fruits and vegetables into their diets, and discover new and exotic varieties. We are dedicated to creating a welcoming environment where everyone can find something to enrich their meals and support their well-being.

By focusing on local and organic sourcing, we also contribute to the sustainability of our food systems and the prosperity of local farmers, aligning our business with the values of environmental stewardship and community support.

Project Owner

The project owner is an individual with a profound passion for healthy living and community engagement. With a background in agricultural studies and experience in the food retail industry, they are well-equipped to establish a market that prioritizes quality and freshness.

They bring a wealth of knowledge about the seasonality and sourcing of produce, and are committed to creating a marketplace that reflects the diversity and richness of nature's offerings. Their dedication to health, nutrition, and sustainability drives them to build a market that not only sells fruits and vegetables but also educates and inspires the community to embrace a healthier, more sustainable lifestyle.

Their vision is to create a space where the joy of fresh, wholesome food is accessible to all, and where the market serves as a vibrant gathering place for people to connect with their food and each other.

The Market Study

Market segments.

The market segments for this fruit and vegetable market are diverse and cater to a wide range of consumers.

Firstly, there are health-conscious individuals who prioritize fresh, organic produce in their diets for wellness and nutritional benefits.

Secondly, the market serves customers who are looking for locally-sourced and seasonal produce to support community farmers and reduce their carbon footprint.

Additionally, the market attracts individuals with specific dietary needs, such as vegans, vegetarians, and those with food sensitivities who require a variety of fresh produce options.

Culinary professionals, including chefs and caterers, represent another segment, seeking high-quality ingredients to enhance their dishes.

SWOT Analysis

A SWOT analysis of the fruit and vegetable market project highlights several key factors.

Strengths include a strong focus on fresh, high-quality produce, relationships with local farmers, and a commitment to sustainability and eco-friendly practices.

Weaknesses might involve the perishable nature of inventory, the need for constant supply chain management, and potential seasonal fluctuations in product availability.

Opportunities exist in expanding the market's reach through online sales and delivery services, as well as in educating consumers about the benefits of eating fresh and local produce.

Threats could include competition from larger grocery chains with more buying power, adverse weather affecting crop yields, and potential economic downturns reducing consumer spending on premium produce.

Competitor Analysis

Competitor analysis in the fruit and vegetable market sector indicates a varied landscape.

Direct competitors include other local markets, organic food stores, and large supermarkets with extensive produce sections.

These competitors vie for customers who value convenience, variety, and price.

Potential competitive advantages for our market include superior product freshness, strong community ties, exceptional customer service, and a focus on sustainable and ethical sourcing.

Understanding the strengths and weaknesses of these competitors is crucial for carving out a niche and ensuring customer loyalty.

Competitive Advantages

Our fruit and vegetable market's dedication to offering the freshest and highest quality produce sets us apart from the competition.

We provide a wide array of fruits and vegetables, including rare and exotic items, to cater to the diverse tastes and needs of our customers.

Our commitment to sustainability, through supporting local farmers and minimizing waste, resonates with environmentally conscious consumers.

We also emphasize transparency and education about the source and benefits of our produce, fostering a trusting relationship with our clientele.

You can also read our articles about: - how to open a fruit and vegetable store: a complete guide - the customer segments of a fruit and vegetable store - the competition study for a fruit and vegetable store

The Strategy

Development plan.

Our three-year development plan for the fresh fruit and vegetable market is designed to promote healthy living within the community.

In the first year, our goal is to establish a strong local presence by sourcing a wide variety of high-quality, seasonal produce and building relationships with local farmers and suppliers.

The second year will focus on expanding our reach by setting up additional market locations and possibly introducing mobile market services to access a broader customer base.

In the third year, we plan to diversify our offerings by including organic and exotic fruits and vegetables, as well as implementing educational programs on nutrition and sustainable agriculture.

Throughout this period, we will be committed to sustainability, community engagement, and providing exceptional service to ensure we become a staple in our customers' healthy lifestyles.

Business Model Canvas

The Business Model Canvas for our fruit and vegetable market targets health-conscious consumers and those looking for fresh, local produce.

Our value proposition is centered on offering the freshest, high-quality fruits and vegetables, with a focus on local and organic options, and providing exceptional customer service.

We will sell our products through our physical market locations and consider an online ordering system for customer convenience, utilizing our key resources such as our relationships with local farmers and our knowledgeable staff.

Key activities include sourcing and curating produce, maintaining quality control, and engaging with the community.

Our revenue streams will be generated from the sales of produce, while our costs will be associated with procurement, operations, and marketing efforts.

Access a complete and editable real Business Model Canvas in our business plan template .

Marketing Strategy

Our marketing strategy is centered on community engagement and education.

We aim to highlight the health benefits of fresh produce and the environmental advantages of buying locally. Our approach includes community events, cooking demonstrations, and partnerships with local health and wellness organizations.

We will also leverage social media to showcase our daily offerings, share tips on healthy eating, and feature stories from our partner farmers.

Additionally, we plan to offer loyalty programs and seasonal promotions to encourage repeat business and attract new customers.

Risk Policy

The risk policy for our fruit and vegetable market focuses on mitigating risks associated with perishable goods, supply chain management, and market fluctuations.

We will implement strict quality control measures and develop a robust inventory management system to minimize waste and ensure product freshness.

Building strong relationships with a diverse group of suppliers will help us manage supply risks and price volatility.

We will also maintain a conservative financial strategy to manage operational costs effectively and ensure business sustainability.

Insurance coverage will be in place to protect against unforeseen events that could impact our business operations.

Why Our Project is Viable

We believe in the viability of a fruit and vegetable market that prioritizes freshness, quality, and community health.

With a growing trend towards healthy eating and local sourcing, our market is well-positioned to meet consumer demand.

We are committed to creating a shopping experience that supports local agriculture and provides educational value to our customers.

Adaptable to market trends and customer feedback, we are excited about the potential of our fruit and vegetable market to become a cornerstone of healthy living in our community.

You can also read our articles about: - the Business Model Canvas of a fruit and vegetable store - the marketing strategy for a fruit and vegetable store

The Financial Plan

Of course, the text presented below is far from sufficient to serve as a solid and credible financial analysis for a bank or potential investor. They expect specific numbers, financial statements, and charts demonstrating the profitability of your project.

All these elements are available in our business plan template for a fruit and vegetable market and our financial plan for a fruit and vegetable market .

Initial expenses for our fruit and vegetable market include costs for securing a retail space in a high-traffic area, purchasing refrigeration units and display equipment to maintain and showcase fresh produce, obtaining necessary permits and licenses, investing in a robust inventory management system, and launching marketing initiatives to attract customers to our location.

Our revenue assumptions are based on an in-depth analysis of the local market demand for fresh, high-quality fruits and vegetables, taking into account the increasing trend towards healthy eating and organic produce.

We expect sales to grow steadily as we establish our market's reputation for offering a wide variety of fresh and locally sourced produce.

The projected income statement outlines expected revenues from the sale of fruits and vegetables, cost of goods sold (including procurement, transportation, and storage), and operating expenses (rent, marketing, salaries, utilities, etc.).

This results in a forecasted net profit that is essential for assessing the long-term viability of our fruit and vegetable market.

The projected balance sheet will reflect assets such as refrigeration and display equipment, inventory of fresh produce, and liabilities including any loans and operational expenses.

It will provide a snapshot of the financial condition of our market at the end of each fiscal period.

Our projected cash flow statement will detail all cash inflows from sales and outflows for expenses, helping us to predict our financial needs and ensure we have sufficient funds to operate smoothly.

The projected financing plan will outline the sources of funding we intend to tap into to cover our initial setup costs and any additional financing needs.

The working capital requirement for our market will be carefully managed to maintain adequate liquidity for day-to-day operations, such as purchasing fresh stock, managing inventory, and covering staff wages.

The break-even analysis will determine the volume of sales we need to achieve to cover all our costs and begin generating a profit, marking the point at which our market becomes financially sustainable.

Key performance indicators we will monitor include the turnover rate of our inventory, the gross margin on produce sales, the current ratio to evaluate our ability to meet short-term obligations, and the return on investment to gauge the profitability of the capital invested in our market.

These metrics will be instrumental in assessing the financial performance and overall success of our fruit and vegetable market.

If you want to know more about the financial analysis of this type of activity, please read our article about the financial plan for a fruit and vegetable store .

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September 11, 2024

Designing a sales compensation plan is hard. here are some tips to make it easier..

Laurie Tennant

David rudnitsky.

Compensation plans are one of the most challenging aspects of running a sales organization. To help sales and HR leaders in our portfolio navigate the complexities, we held a virtual workshop on sales compensation strategies featuring Mike Heilmann , a Norwest senior advisor and founder of ScaledRev .

Here are some of the key takeaways from the workshop.

Market Trends Drive Changes in Sales Comp

The changing market for technology companies – marked by stronger headwinds, delayed IPOs, and stricter capital availability – is having an impact on sales compensation. These are five of the most consequential trends we’re seeing:

• Draws are becoming less of an expectation. Sales personnel must wait for deals to close and revenue to start flowing before realizing rewards.
• Variable incentives are more focused on revenue outcomes than on activities. While this has always been true for direct sellers, sales- and business-development representatives (SDRs and BDRs) are seeing a diminishing portion of their compensation tied simply to activities.
• Rewards increasingly emphasize quality over quantity. High-quality, high-value, long-term deals are prized, especially for businesses with recurring revenue models such as SaaS.
• Incentives stress “expand” over “land”. While it’s always important to add new accounts, actions that grow recurring business from established accounts often produce greater long-term value at less cost.
• Clawbacks are more common. Management today monitors company performance more closely than ever and will quickly act to rein in costs – even if that means draws must be pulled back.

10 Elements of an Effective Sales Compensation Plan

Despite whatever market challenges a sales team may face at any given time, these 10 fundamental principles – the first three of which are non-negotiable – will set your sales compensation plan up for success.

• Simplicity. The easier a plan is to understand, the greater impact it will have. Don’t make people spend their valuable time trying to figure out how they make the most money.
• Consistency with company goals. No matter how good a plan is, it won’t meet its objectives if it isn’t tightly aligned with company goals and strategies. Never incentivize people to do anything that doesn’t move the company in its decided direction.
• Challenging yet achievable goals. If it’s too easy to exceed targets, sellers may lose motivation. The corollary is also true: if goals are unattainable, they may start to think “why try?”
• Tiers and/or accelerators that reward overachievers. You never want to discourage anyone from pushing beyond their quota.
• Annuity payments that reward multi-year deals. Just as the company benefits from long-term contracts, so should the people making them happen.
• One-off rewards to acknowledge extraordinary effort. In cases where a salesperson skillfully navigates an unusual circumstance or exhibits outstanding work, a creative or specialized reward can be appropriate. Just be selective in how you award these.
• Flexibility. You can be certain that things will change, and you need to adapt.
• Rewards for all members of the team. While specific amounts may vary, all contributors to a successful team – not only direct sellers but the dependent roles such as SEs as well – should be rewarded. This will drive continued collaboration.
• Equality. Even the perception of unfairness or favoritism can be fatal to a fruitful relationship.
• Transparency. Always be open, up-front, and honest, especially when you need to have hard conversations about necessary changes or a downward turn in circumstances.

What Are the Right Numbers for Your Sales Comp Plan?

Sales, finance, and HR executives always want to verify that the numbers in their sales-comp plans are at market rates. While every company is different – and industry norms can change significantly in even a few months – a 2023 survey of 236 B2B SaaS companies revealed numbers that closely matched our benchmarks in dealing with Norwest portfolio companies and other young businesses.

The survey captured data from companies ranging in ARR from $5 million to $1 billion. Not surprisingly, dollar amounts grow with the size of target markets. For example, the average OTE for an account executive at a company targeting enterprise customers is around $330,000, while it’s about $200,000 and $150,000 at companies targeting mid-market and SMB firms, respectively. At the same time, the split between fixed and variable compensation is consistent across all markets: roughly 50/50.

As the size of a target market grows, so do performance expectations for AEs. At companies targeting SMBs, the ratio of pipeline goal to OTE is in the range of 5-8x, while it is 10-15x for mid-market and 15-20x for enterprise accounts.

Account managers, predictably, have a different ratio of fixed-to-variable compensation, roughly 60/40. The same ratio generally applies to SDRs, whose average OTE ranges from $70,000 at companies targeting SMBs to around $110,000 for those serving enterprise accounts.

The comp plans for early- versus later-stage companies differ but not as much as you might expect.

The comp plans for early- versus later-stage companies differ but not as much as you might expect. The 2023 survey defined early-stage respondents as having $50 million or less in ARR and later-stage companies as having more. Across all positions, company sizes, and target markets, the difference in OTE and targets between early- and late-stage companies was generally 10 percent or less.

As for choosing metrics for sales targets, sales-qualified leads (SQLs) were the most frequent measure for SDR goals (74% of companies use them), while marketing-qualified leads (MQLs) were used by 39 percent of respondents and pipeline dollars by 34 percent.

Key Takeaways

When developing or adjusting sales comp plans, you will have many factors to consider. The takeaways below offer high-level guidance that will help you make sound decisions:

• Make your comp plan simple to understand, consistent with company goals, and challenging (but realistic).
• Conditions will change, so be willing to make adjustments to your plan.
• If you are asked to add headcount, apply a fact-based assessment of the request by measuring where you currently stand on key measurements against your quotas.

Sales compensation is just one of the challenges that Norwest’s Portfolio Services team helps leaders tackle. We work side by side with companies as they develop and execute strategies to overcome common hurdles related to sales, marketing, and HR issues.

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6 business analysis techniques to use in your strategic plans

August 10, 2021 by MindManager Blog

By: Emily Finlay

For businesses, efficiency and effectiveness are key. Whether you’re executing a major project or determining the best ways to train new employees, it’s important to use best practices to achieve exceptional results.

Business analysis uncovers the strategies and processes that can help your business improve. You can find the flaws in your operations while determining what you need to change to fix them. Auditing and refining your business also offers the insights you and your leadership need to make informed decisions that will benefit your work moving forward.

Like any method, however, the power of business analysis depends on the methods used to execute it. In this guide, we’ll walk you through the top business analysis techniques. You’ll learn what each option offers and how you can use them to analyze your own processes.

What are business analysis techniques?

Business analysis techniques are the specific processes used to audit and improve business operations. These step-by-step procedures help analysts stay organized and make strategic decisions during the analysis.

What are the different types of business analysis techniques?

The most common types of business analysis include BPM, SWOT, MOST, CATWOE, PESTLE, and Six Hats Thinking. These planning methods can be used in a variety of industries and projects. From streamlining your operations to aligning your company’s purpose, these tactics can maintain your organization’s long-term success.

Business Process Modeling (BPM)

This technique, also known as business process mapping , creates a visual representation of the procedures a company uses. By visualizing the processes, teams and analysts can identify any problems. They can also see where efficiency is lost.

As you develop strategies to address these shortcomings, you can apply them to the model to see how they will affect the targeted process. This will also highlight any potential problems that these changes might create in other areas.

Business analysis steps: BPM

According to the International Institute of Business Analysis , here are the steps you should follow:

• Strategic planning – Start by researching and understanding the processes and problems you’re going to solve. Discover everything involved before creating your model.
• Business Model Analysis – Develop a model (such as mind mapping , flow charting, or diagramming) of the business processes with the information gained in step one. Analyze this visual and use it to guide your strategies.
• Define and design the process – Create the solutions you need and apply them to the model.
• Technical Analysis for complex business solutions – Use your visualization to analyze and improve the solutions.

Business analysis example: BPM

If a company is changing the way they produce a specific product, this technique can help them understand how adjusting that element will impact others. Rather than theorizing, they can use a visual flow to pinpoint obstacles and areas of improvement.

Strength, Weakness, Opportunities, Threats (SWOT)

These four elements define this technique, identifying internal (Strengths and Weaknesses) and external (Threats and Opportunities) factors. The most popular type of business analysis, SWOT drives informed decision making in nearly every area of business.

Business analysis steps: SWOT

Create a map with four quadrants, as outlined below, and use it guide your solutions and decisions:

• Strengths – What processes, resources, and other factors give us an advantage over competitors?
• Weaknesses – What holds us back from doing better and growing?
• Opportunities – What is happening outside the business that we can use to our advantage?
• Threats – What external factors can limit or hurt our success?

Business analysis example: SWOT

You can apply this technique to performance reviews, using the information you gain to help employees make improvements and celebrate strengths.

Mission, Objectives, Strategies, and Tactics (MOST)

If you want to make sure your company is maintaining its main goals through every decision and transition, MOST is the best tactic to use. By analyzing your business based on the following elements, you can turn big-picture objectives into achievable actions.

• Mission – Your overarching purpose that defines everything you do.
• Objectives – The goals necessary to accomplish your mission.
• Strategies – What you need to do to reach your objectives.
• Tactics – How everyone in the organization can execute your strategies.

Business analysis steps: MOST

Starting from the top down, define these four elements for your business. Then, use them to create processes that prioritize your main goals throughout the organization.

Business analysis examples: MOST

When rebranding a company, the MOST technique helps you discover and refine the heart of your organization. You can realign your processes, products, and marketing efforts to reflect your goals more accurately. If your company has strayed from these primary values or shifted to new ones, MOST will help you clearly define your views and objectives.

Customers, Actors, Transformation, Worldview, Owner, Environmental constraints (CATWOE)

Your individual stakeholders’ viewpoints affect your goals and processes. Every change also affects all of your stakeholders. With CATWOE, you can understand how any action impacts your organization, customers, leadership, and more.

Business analysis steps: CATWOE

This technique should be used at the start of the project or strategizing process. Begin by defining these parties and asking these questions:

• Customers – Who benefits from your work and products? How does this issue or the proposed solution affect them?
• Actors – Who is directly involved in this process? How will they affect it?
• Transformation – What are the ultimate changes that will occur by implementing this solution or new procedures?
• Worldview – How will this change affect the organization’s mission and big picture?
• Owner – Who is responsible for the affected system and how are they related to it?
• Environmental constraints – On every level, what are the limitations that affect the solution?

Once you have these answers, use them to guide your strategies and final solutions.

Business analysis examples: CATWOE

If a development company wanted to build a new shopping center, they could use this technique to understand the impact it would have on the company, their future customers, and the people living in the surrounding community.

Political, Economic, Social, Technological, Legal, Environmental (PESTLE)

Decisions and changes aren’t made in a vacuum. PESTLE identifies outside factors that will affect the decisions made within an organization, as well as how the company’s changes will impact other factors. This technique allows businesses to plan for any potential threats that might develop and strategize for seizing new opportunities.

Business analysis steps: PESTLE

Walk through the following list to determine the forces that can impact your organization.

• Political – How do government policies, initiatives, and financial support affect your business and your proposed solution?
• Economical – What is the economic climate and how does it affect you?
• Social – How do trends and attitudes concerning population, media, culture, lifestyle, and education affect the business?
• Technology – What is the rate of technological development, particularly for information and communication, and how does it impact your changes?
• Legal – Do local and national regulations and employment standards affect your work? How?
• Environmental – Are weather, pollution, waste, and recycling factors a concern for your organization? What is their impact?

Use this information to prepare for threats and opportunities that might affect your business’ ongoing performance.

Business analysis examples: PESTLE

When using the SWOT technique to evaluate your company’s direction and future, you can use PESTLE to develop and analyze each element of the process. This will help you create a more detailed understanding of your business, particularly concerning threats and opportunities.

Six Thinking Hats

Often, teams lack enough diverse viewpoints to find and understand the issues that are keeping them from full success. With the Six Thinking Hats technique , you can use different ways of thinking to uncover new perspectives. Using these new insights during brainstorming sessions can hone your team’s ideas for better results.

Business analysis steps: Six Thinking Hats

In your meetings, consider the problem and possible solutions with the type of thinking dictated by each “hat” and step.

• Start with the White Hat, which focuses on hard data and logic. What information do you know or need?
• Move to the Yellow Hat, which stands for brightness and positivity. Look for the possible values and benefits through optimistic thinking
• Now play devil’s advocate with the Black Hat of judgment. Find potential problems, obstacles, and threats.
• The Red Hat focuses on intuition. Share your feelings, fears, hunches, and emotions associated with the solution or process.
• Use the Green Hat of creativity to consider possibilities, thoughts, and ideas. Try to think outside the box.
• With the Blue Hat, you will bring your brainstorming back to earth. Consider the big picture of the project or changes. Ensure your ideas fit your operations and procedures.
• Use this process to hone your solutions and approach to problems.

Business analysis example: Six Thinking Hats

The next time you think your project needs fresh eyes, gather your team for a Six Thinking Hats brainstorming session. You will be able to view your work in a new light and uncover ways to improve.

There isn’t a “right” technique for business analysis. Instead, use these tactics as they best fit your objectives. And don’t be afraid to combine these techniques for a single problem. As you analyze your business through different lenses, you can find the solutions that will offer the greatest benefits.

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MoSCoW Prioritization

What is moscow prioritization.

MoSCoW prioritization, also known as the MoSCoW method or MoSCoW analysis, is a popular prioritization technique for managing requirements. 

  The acronym MoSCoW represents four categories of initiatives: must-have, should-have, could-have, and won’t-have, or will not have right now. Some companies also use the “W” in MoSCoW to mean “wish.”

What is the History of the MoSCoW Method?

Software development expert Dai Clegg created the MoSCoW method while working at Oracle. He designed the framework to help his team prioritize tasks during development work on product releases.

You can find a detailed account of using MoSCoW prioritization in the Dynamic System Development Method (DSDM) handbook . But because MoSCoW can prioritize tasks within any time-boxed project, teams have adapted the method for a broad range of uses.

How Does MoSCoW Prioritization Work?

Before running a MoSCoW analysis, a few things need to happen. First, key stakeholders and the product team need to get aligned on objectives and prioritization factors. Then, all participants must agree on which initiatives to prioritize.

At this point, your team should also discuss how they will settle any disagreements in prioritization. If you can establish how to resolve disputes before they come up, you can help prevent those disagreements from holding up progress.

Finally, you’ll also want to reach a consensus on what percentage of resources you’d like to allocate to each category.

With the groundwork complete, you may begin determining which category is most appropriate for each initiative. But, first, let’s further break down each category in the MoSCoW method.

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Moscow prioritization categories.

1. Must-have initiatives

As the name suggests, this category consists of initiatives that are “musts” for your team. They represent non-negotiable needs for the project, product, or release in question. For example, if you’re releasing a healthcare application, a must-have initiative may be security functionalities that help maintain compliance.

The “must-have” category requires the team to complete a mandatory task. If you’re unsure about whether something belongs in this category, ask yourself the following.

If the product won’t work without an initiative, or the release becomes useless without it, the initiative is most likely a “must-have.”

2. Should-have initiatives

Should-have initiatives are just a step below must-haves. They are essential to the product, project, or release, but they are not vital. If left out, the product or project still functions. However, the initiatives may add significant value.

“Should-have” initiatives are different from “must-have” initiatives in that they can get scheduled for a future release without impacting the current one. For example, performance improvements, minor bug fixes, or new functionality may be “should-have” initiatives. Without them, the product still works.

3. Could-have initiatives

Another way of describing “could-have” initiatives is nice-to-haves. “Could-have” initiatives are not necessary to the core function of the product. However, compared with “should-have” initiatives, they have a much smaller impact on the outcome if left out.

So, initiatives placed in the “could-have” category are often the first to be deprioritized if a project in the “should-have” or “must-have” category ends up larger than expected.

4. Will not have (this time)

One benefit of the MoSCoW method is that it places several initiatives in the “will-not-have” category. The category can manage expectations about what the team will not include in a specific release (or another timeframe you’re prioritizing).

Placing initiatives in the “will-not-have” category is one way to help prevent scope creep . If initiatives are in this category, the team knows they are not a priority for this specific time frame. 

Some initiatives in the “will-not-have” group will be prioritized in the future, while others are not likely to happen. Some teams decide to differentiate between those by creating a subcategory within this group.

How Can Development Teams Use MoSCoW?

  Although Dai Clegg developed the approach to help prioritize tasks around his team’s limited time, the MoSCoW method also works when a development team faces limitations other than time. For example: 

Prioritize based on budgetary constraints.

What if a development team’s limiting factor is not a deadline but a tight budget imposed by the company? Working with the product managers, the team can use MoSCoW first to decide on the initiatives that represent must-haves and the should-haves. Then, using the development department’s budget as the guide, the team can figure out which items they can complete. 

Prioritize based on the team’s skillsets.

A cross-functional product team might also find itself constrained by the experience and expertise of its developers. If the product roadmap calls for functionality the team does not have the skills to build, this limiting factor will play into scoring those items in their MoSCoW analysis.

Prioritize based on competing needs at the company.

Cross-functional teams can also find themselves constrained by other company priorities. The team wants to make progress on a new product release, but the executive staff has created tight deadlines for further releases in the same timeframe. In this case, the team can use MoSCoW to determine which aspects of their desired release represent must-haves and temporarily backlog everything else.

What Are the Drawbacks of MoSCoW Prioritization?

  Although many product and development teams have prioritized MoSCoW, the approach has potential pitfalls. Here are a few examples.

1. An inconsistent scoring process can lead to tasks placed in the wrong categories.

  One common criticism against MoSCoW is that it does not include an objective methodology for ranking initiatives against each other. Your team will need to bring this methodology to your analysis. The MoSCoW approach works only to ensure that your team applies a consistent scoring system for all initiatives.

Pro tip: One proven method is weighted scoring, where your team measures each initiative on your backlog against a standard set of cost and benefit criteria. You can use the weighted scoring approach in ProductPlan’s roadmap app .

2. Not including all relevant stakeholders can lead to items placed in the wrong categories.

To know which of your team’s initiatives represent must-haves for your product and which are merely should-haves, you will need as much context as possible.

For example, you might need someone from your sales team to let you know how important (or unimportant) prospective buyers view a proposed new feature.

One pitfall of the MoSCoW method is that you could make poor decisions about where to slot each initiative unless your team receives input from all relevant stakeholders. 

3. Team bias for (or against) initiatives can undermine MoSCoW’s effectiveness.

Because MoSCoW does not include an objective scoring method, your team members can fall victim to their own opinions about certain initiatives. 

One risk of using MoSCoW prioritization is that a team can mistakenly think MoSCoW itself represents an objective way of measuring the items on their list. They discuss an initiative, agree that it is a “should have,” and move on to the next.

But your team will also need an objective and consistent framework for ranking all initiatives. That is the only way to minimize your team’s biases in favor of items or against them.

When Do You Use the MoSCoW Method for Prioritization?

MoSCoW prioritization is effective for teams that want to include representatives from the whole organization in their process. You can capture a broader perspective by involving participants from various functional departments.

Another reason you may want to use MoSCoW prioritization is it allows your team to determine how much effort goes into each category. Therefore, you can ensure you’re delivering a good variety of initiatives in each release.

What Are Best Practices for Using MoSCoW Prioritization?

If you’re considering giving MoSCoW prioritization a try, here are a few steps to keep in mind. Incorporating these into your process will help your team gain more value from the MoSCoW method.

1. Choose an objective ranking or scoring system.

Remember, MoSCoW helps your team group items into the appropriate buckets—from must-have items down to your longer-term wish list. But MoSCoW itself doesn’t help you determine which item belongs in which category.

You will need a separate ranking methodology. You can choose from many, such as:

• Weighted scoring
• Value vs. complexity
• Buy-a-feature
• Opportunity scoring

For help finding the best scoring methodology for your team, check out ProductPlan’s article: 7 strategies to choose the best features for your product .

2. Seek input from all key stakeholders.

To make sure you’re placing each initiative into the right bucket—must-have, should-have, could-have, or won’t-have—your team needs context. 

At the beginning of your MoSCoW method, your team should consider which stakeholders can provide valuable context and insights. Sales? Customer success? The executive staff? Product managers in another area of your business? Include them in your initiative scoring process if you think they can help you see opportunities or threats your team might miss. 

3. Share your MoSCoW process across your organization.

MoSCoW gives your team a tangible way to show your organization prioritizing initiatives for your products or projects. 

The method can help you build company-wide consensus for your work, or at least help you show stakeholders why you made the decisions you did.

Communicating your team’s prioritization strategy also helps you set expectations across the business. When they see your methodology for choosing one initiative over another, stakeholders in other departments will understand that your team has thought through and weighed all decisions you’ve made. 

If any stakeholders have an issue with one of your decisions, they will understand that they can’t simply complain—they’ll need to present you with evidence to alter your course of action.  

Related Terms

2×2 prioritization matrix / Eisenhower matrix / DACI decision-making framework / ICE scoring model / RICE scoring model

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MoSCoW Method In A Nutshell

Prioritization plays a crucial role in every business . In an ideal world, businesses have enough time and resources to complete every task within a project satisfactorily.  The MoSCoW method is a task prioritization framework. It is most effective in situations where many tasks must be prioritized into an actionable to-do list. The framework is based on four main categories that give it the name: Must have (M), Should have (S), Could have (C), and Won’t have (W).

Table of Contents

Understanding the MoSCoW method

Since unforeseen setbacks are inevitable, task prioritization ensures that the most relevant and important tasks are completed first. Projects lacking in task prioritization quickly become disorganized and chaotic. 

Instead of a systematic process, resources are typically assigned to tasks by those that simply have the most influence in the room. Invariably, this comes at the expense of the success of the project and of the organization itself.

The MoSCoW method categorizes requirements based on their intrinsic value to the business . Requirements most commonly take the form of tasks but change processes and objectives can also be analyzed.

The method is based on an acronym from the first letter of four prioritization categories.

In the next section, we will look at each category in more detail.

The four prioritization categories of the MoSCoW method

All requirements are important to MoSCoW method principles, but they need to be categorized according to priority to deliver maximum benefit to the business . 

Here are the four categories in descending order of priority:

• Must have (M) – or requirements that must be satisfied for the project or solution to be a success. These requirements play a vital role in meeting deadlines and satisfying legal or safety standards. If the result of a requirement not being met is project cancellation, then it occupies this category.
• Should have (S) – or important (but not vital) requirements such as a lack of efficiency or unfavorable stakeholder expectations. These so-called “secondary requirements” usually have a workaround and do not significantly impact the project being delivered. In any case, they should only be rectified once “must-have” requirements have been satisfied.
• Could have (C) – this includes requirements that would be nice to incorporate on the proviso that they do not affect anything else. However, leaving them out of the project scope must result in little impact when compared with a “should have” requirement. This category sometimes includes low-cost refinements that are carried out provided there is sufficient time to do so.
• Won’t have (W) – these requirements are either beyond the scope of the project or add little value . They may be feasible for a future project update and should be stored away for later reference. For example, a new rideshare company may shelve plans for a premium car option until usability issues with its app have been resolved.

Advantages and disadvantages of the MoSCoW method

• Ease of use. The method is easy to learn and implement because it is based on basic principles of task prioritization.
• Accuracy. Accurate task prioritization is reliant on group consensus lead by an impartial moderator. It does not rely on biased prioritization where big personalities can influence others.
• Versatility. The MoSCoW method can be used for any project and any sized company.

Disadvantages

• Lack of category sorting. While the method provides clear guidance on categorization, it does not suggest how requirements within the categories should be sorted.
• Bias. Despite the team-based approach, bias can still occur when most requirements are mistakenly placed in the “must-have” category. Some businesses find it helpful to stipulate that no more than 60% of all project requirements can be classified as high priority.

MoSCoW method examples

Below we have listed a few general examples of the MoSCoW method in action.

Developing a project management app

• Must have – task assignment, file attachment, workflow monitoring, and integration with Google Calendar.
• Should have – Kanban view, Notion integration, mobile app version, in-app messaging, and time tracking functionality.
• Could have – collaborative whiteboard (in-app), Chrome support (add-on), integration with Slack, and a feature that visualizes key project advancement indicators.
• Won’t have – video conferencing. 

Designing a block of apartments for a new city development

• Must have – cement, bricks, windows, proper ventilation, fire hoses for each floor, pile foundations, and a stairwell for emergencies.
• Should have – a compact, modular kitchen, doors made from composite material, soundproofed walls, two elevators, at least two bedrooms per apartment, and ducted, reverse cycle heating and cooling.
• Could have – load-bearing balconies (with a balustrade), internal staircases for penthouse apartments, outdoor entertainment areas, and an intercom system.
• Won’t have – traditional gardens, water features, and a separate laundry room for a washing machine and dryer.

Product development for a men’s wallet

• Must have – two slots for banknotes, ten compartments for credit and debit cards, durable construction material, and high-quality sewing.
• Should have – leather as the primary composition, a transverse horizontal compartment, a transparent credit card sleeve, and a small company logo on the outside face.
• Could have – an attractive, timeless color or pattern on the inside of the banknote slots, an additional transparent sleeve for treasured photos, and a small, zippered coin pouch.
• Won’t have – cream or beige colored leather that stains or wears easily, external metal accents that can catch on the material inside the wearer’s pocket.

Purchasing a new vehicle

• Must have – at least seven seats, 4WD, a 5-star safety rating, a hybrid engine, front and rear passenger airbags, adaptive cruise control, tow bar, and Apple CarPlay.
• Should have – reverse parking sensors, electronic brakeforce distribution (EBD), blind spot mirror warnings, an electric driver’s seat with customizable settings, and Bluetooth.
• Could have – lane departure warning system, heated seats, limited slip differential, sunroof, leather upholstery, center airbags, remote parking, intersection-scanning autonomous emergency braking (AEB), and live blind spot video feed.
• Won’t have – a small, four-cylinder engine, screens that are not touch-sensitive, haptic controls that replace buttons, spoiler, and voice recognition.

Building a website for a law firm that wants to enable clients to track their court cases

• Must have – robust coding free from any bugs, maximum uptime, a simple client registration system, a safe and robust personal directory that cannot be accessed by malicious actors, and discoverability on the first page of Google search results for the company name keyword.
• Should have – a modern, intuitive, and responsive design and navigation, email notifications, a site with pages that load quickly, nofollow links to external sites or organizations, a high contrast color scheme, and a prominent “Contact Us” page.
• Could have – a blog section with information on industry news and trends, custom menus with submenus, and an introductory video on the homepage.
• Won’t have – too much text, no whitespace, and pages with no mobile optimization.

Implementing Agile Methodology for Software Development

• Must Have – Daily stand-up meetings, user stories, sprint planning, and continuous integration.
• Should Have – Retrospective meetings, automated testing, backlog grooming, and a product owner role.
• Could Have – Pair programming, test-driven development (TDD), cross-functional teams, and burndown charts.
• Won’t Have – Waterfall project management , lengthy documentation, and a rigid change control process.

Launching a New Mobile App for a Fitness Company

• Must Have – User registration, workout tracking, video tutorials, and a progress dashboard.
• Should Have – Social sharing features, in-app purchases, integration with wearable fitness trackers, and a nutrition tracking tool.
• Could Have – Personalized workout plans, live streaming fitness classes, gamification elements, and integration with health databases.
• Won’t Have – Virtual reality fitness experiences, biometric scanning, and a feature for booking physical fitness classes.

Redesigning an E-commerce Website for a Fashion Retailer

• Must Have – User-friendly navigation, product listings, a shopping cart, and secure checkout.
• Should Have – Filter and sort options, responsive design , customer reviews, and product recommendations.
• Could Have – Virtual try-on feature, saved wishlists, chat support, and integration with social media for sharing fashion finds.
• Won’t Have – Virtual reality shopping, blockchain-based supply chain tracking, and a complete overhaul of the existing branding.

Upgrading Customer Support for a Telecommunications Company

• Must Have – 24/7 hotline, ticketing system, knowledge base, and service level agreements (SLAs).
• Should Have – Live chat support, email support, remote troubleshooting, and a customer portal for issue tracking.
• Could Have – AI-powered chatbots, predictive maintenance alerts, and a mobile app for customer self-service.
• Won’t Have – In-person customer support centers, handwritten correspondence, and fax support.

Developing a New Video Game

• Must Have – Engaging gameplay, high-quality graphics, sound effects, and a clear user interface.
• Should Have – Multiple levels, character customization, leaderboards, and multiplayer mode.
• Could Have – Downloadable content (DLC), virtual reality support, and an engaging storyline.
• Won’t Have – Integration with real-world banking, non-gaming related social networking, and excessive microtransactions.

Expanding Data Analytics Capabilities for a Financial Institution

• Must Have – Data warehousing, data cleaning, reporting tools, and regulatory compliance.
• Should Have – Predictive analytics, data visualization, and role-based access control.
• Could Have – Machine learning algorithms, real-time data processing, and data governance policies.
• Won’t Have – Data storage on personal computers, unencrypted data transmission, and manual data entry.

Enhancing Cybersecurity for a Global Tech Company

• Must Have – Firewall protection, intrusion detection, antivirus software, and employee cybersecurity training.
• Should Have – Regular security audits, two-factor authentication, and secure remote access.
• Could Have – Employee monitoring software, threat intelligence feeds, and a bug bounty program.
• Won’t Have – Open access to sensitive data, default passwords, and publicly shared passwords.

Revamping Supply Chain Management for a Manufacturing Company

• Must Have – Inventory management , demand forecasting, supplier relationship management , and order processing.
• Should Have – Automated replenishment, real-time tracking, and electronic data interchange (EDI).
• Could Have – Advanced analytics, blockchain-based supply chain, and just-in-time inventory .
• Won’t Have – Manual tracking in spreadsheets, paper-based documentation, and decentralized procurement.

Key takeaways

• The MoSCoW method is a requirement prioritization framework. It may be used to classify tasks, objectives, or change processes.
• The MoSCoW method utilizes four requirement categories according to the degree that each requirement impacts the overall project.
• The MoSCoW method is a versatile, accurate, and relatively simple process to learn. However, it can be prone to bias and it does not suggest how requirements within categories should be prioritized.

MoSCoW Method and its Application: Key Takeaways

• MoSCoW Method Overview: The MoSCoW method is a task prioritization framework used to categorize requirements, tasks, or change processes based on their importance and impact on a project’s success. It uses four main categories: Must have (M), Should have (S), Could have (C), and Won’t have (W).
• Importance of Prioritization: Prioritization is essential for effective project management , ensuring that the most critical tasks are addressed first. Without proper prioritization, projects can become disorganized and chaotic.
• Must have (M): These are requirements that must be satisfied for the project’s success. They are crucial for meeting deadlines, legal standards, or safety requirements. Failure to meet these requirements could lead to project cancellation.
• Should have (S): These requirements are important but not vital. They may impact efficiency or stakeholder expectations. Secondary requirements should be addressed after must-have requirements are satisfied.
• Could have (C): These are desirable requirements that could be incorporated if they do not negatively affect other aspects. They may include refinements or features that enhance the project.
• Won’t have (W): These requirements are beyond the project’s scope or add minimal value . They may be considered for future updates or projects.
• Ease of Use: The method is easy to learn and implement.
• Accuracy: Prioritization is based on group consensus, reducing bias.
• Versatility: The method can be applied to various projects and company sizes.
• Lack of Sorting: The method does not provide guidance on sorting requirements within categories.
• Bias: Bias can still occur, with too many requirements classified as must-have. Some businesses set limits on high-priority requirements.
• Project Management App: Must have – task assignment, Should have – Kanban view, Could have – collaborative whiteboard, Won’t have – video conferencing.
• Apartment Design: Must have – proper ventilation, Should have – soundproofed walls, Could have – load-bearing balconies, Won’t have – traditional gardens.
• Men’s Wallet: Must have – banknote slots, Should have – leather composition, Could have – attractive color pattern, Won’t have – easily stained leather.
• Vehicle Purchase: Must have – 4WD, safety rating, hybrid engine, Should have – reverse parking sensors, Could have – lane departure warning, Won’t have – small engine.

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About The Author

Gennaro Cuofano

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