Written by: Vickie Sullivan | May 07, 2019
Market Strategy vs. Sales Strategy
I get a lot of calls from thought leaders who think they have a great brand. When I ask questions about how they stand out, though, I hear more about ideal clients and promotional efforts but less about closed deals. Translation: They have a great niche, but they are seen as “one of many,” so they don’t make the final cut.
It’s too easy to confuse market strategy with sales strategy. Market strategy is a “what” issue. How do you stand out in a sea of good ideas? What do you advocate and what is the outcome? What is your best, biggest idea that can hold a variety of market segments and revenue streams?
Sales strategy is a “where” issue. Given your platform, where is the best area to direct your sales efforts? Who cares enough to make this outcome a top priority?
If you focus on the latter without the former, you compete with internal resources or commodities. If you ever decide to raise your fees, your options are limited.
Listen: How to Find Your Best Market Segment
Focusing on an industry or niche is a good idea when you are investing resources. If you focus on market strategy first, though, you increase the effectiveness of sales activities. You want to enhance how the market perceives you before you “get out there.”
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