Strategic Sales Prospecting Plan

The client would like a process to guide the sales team in developing an outreach process. Researching new prospects, identifying key contacts, and reaching out with compelling messaging.

• Compile relevant marketing information, gather sales data from previous years and search for trends.
• Assess your current situation, including weaknesses that will act as roadblocks and strengths that will help. Start sales forecasting based on demand trends and historical data. Identify any gaps that need to be filled to achieve your targets.
• Identify potential accounts that align with the current customer base. Ideate new initiatives based on opportunities you may have passed on in previous years.
• Present a report of research, analysis, and recommendations for target industry players which will assist the sales team with actionable recommendations that will increase sales conversions.

Sales Process Optimization

The client wishes for the group to review, document, and define the current sales strategy. Based on research and industry best practices, the students should develop new messaging and sales call scripts to help us increase the quality and number of leads generated.

• Research
  • Document current sales processes (map the customer journey, identify problem areas where prospects disengage from sales funnel)
  • Interview Sales Representatives
  • Research competitor’s sales processes and inbound lead strategies
• Develop recommended changes for sales process and strategy
  • Create process handbook for Sales Team – outlining recommended sales process and strategy, including scripts and sales calls
• Final deliverable: 10-page report detailing research, recommendations and implementation plan, alongside a 10-minute presentation on the contents of the report as well as handbook created for the Sales Team
  • A visual graphic of the current sales process
  • Current touchpoints between prospect & sales team
  • Current sales collateral that is exchanged
  • Drop-off rates between each sales stage

Supply Chain Analysis

The client wishes to understand how to best make advantage of outsourcing, with the goal of increasing efficiency – balancing time constraints, finances, etc.

• Determine the criteria used when deciding to outsource material availability along
• Find areas where the production process can be improved
• Strategize the outsourcing process, and find a reasonable solution to improve the process

User Behavior Analysis

Students will conduct focus group sessions with customers, to better understand user interaction with the business and optimize the customer journey. This could include:

• Usability of the website including user actions, intuitiveness, and user journey
• On-site walkthrough of the retail location to identify if the configuration of premises is designed for optimal user flows and positive customer experience
• Assessing the user interaction with a product to identify aspects that provide the most customer delight/frustration

The final deliverable:

• A 10-page written report detailing the challenge, recommended solutions and action plan
• A 30-minute presentation with actionable recommendations based on the results
• Diagrams or wireframes that illustrate recommended changes

New Product/Service Proposal

Based on client budget, business goals, and target customer, students will brainstorm possibilities for a new product or service that would contribute to existing business model.

Examples:

• Innovating an existing product or product line to reach a new target customer.
• Adding a new service to your existing offering that will allow you up-sell existing customers and grow customer lifetime value.
• Adjust the bundling of existing products in an innovative way to reach new customers.
• Exploring competitor products to add to your portfolio.
• Considering a new category entry to reach a new market.

Final deliverables:

• An Executive Summary explaining how the new product or service will complement your existing offering and grow your customer base.
• A 2-minute “pitch” of their new idea, focused on achieving buy-in from organizational leadership.