Setting up a result-oriented strategic sales force management as well as an integrated customer relationship management (CRM) poses a central milestone for a company’s success in the technology market in many ways. On the one hand, solid and well-maintained customer relations guarantee sales in the long-term and on the other hand, important KPIs are identified, pursued and adapted according to the sales channels. Areas of application in this context are a classic and digital sales channels mix, segmentation of target groups and customers, customer needs analysis as well as incentive schemes and CRM.
In the case of a non-transparent and sparse coordination of sales strategy, customer segmentation and KPI definition, Homburg & Partner’s STAR approach (Strategy – Segmentation – Targeting – Approach & Argumentation – Results) will ensure an intact sales management aligned with all business areas. The maintenance of key accounts by the sales force and support will become efficient in the long-term and the approach is proven to promote the achievement of economic performance volumes that are well-founded internally. To do so, we implement five steps which are agreed upon with you both strategically as well as situationally:
A clearly defined strategy is crucial for a tech-company to be able to boast a successful sales structure, since in the process of sales optimization it is necessary to constantly and consistently orient oneself accordingly. For exactly this reason, the STAR approach helps you in devising a fundamental, success-oriented strategy for your sales force management and to designate milestones for the optimization of your CRM.
In practice, critical information asymmetries will arise frequently regarding defining target groups and addressing customer needs. It is therefore of vital importance to describe customer types and to classify them. Accordingly, relevant target groups including their technology-based requirements concerning their products and performance need to be determined.
In a further step, the STAR approach identifies the logical and most efficient sales channels based on which your sales force will aim at the target groups. Sales teams are then structured efficiently internally and are divided content-wise and geographically according to the customer needs in terms of visit frequency and technical know-how.
The specific sales approach is then found in the selection of the sales channel mix tailored to your needs which secures your market positioning, among other things. In particular, the so-called argumentation is determined here, which establishes incentives for the sales force and the support team which need to be fair and performance-oriented and transparently communicated within the company.
Finally, our STAR approach is not limited to defining realistic sales targets, but it also identifies and establishes the KPIs relevant for the sales area. To this end, we will develop a control mechanism for you which is easy to operate, and which will allow you to keep your goals in sight and react with the necessary changes if need be.
Homburg & Partner can look back on many years of experience in employing the STAR approach to fundamentally renew a convoluted sales force management and an insufficiently organized sales channel planning, determining and implementing them efficiently in the long-term in the interest of your company’s success.
Do you have questions or wish to discuss a topic? Then please contact our experts Dr. Michael Scholl and Dr. Michael Marquardt.