Five Questions to Ask When Considering a New Sales and Marketing Strategy
Establishing a new marketing strategy is a difficult undertaking for any sales and marketing professional. There are so many things to consider and so many people who will be impacted by the decision. Even minor changes in marketing and sales strategy will be noticed by the lowest level employees, current clients, and prospects. Here are five of the most important questions to ask when you are considering a new direction in your sales and marketing efforts.
1) How will it affect what we are currently doing? Your current practices have led you to where you are and a change is likely to have an impact on the foundation you have established. Will the change allow you to build on your success?
2) How risky is changing? The potential rewards of the change must be reasonably attained. Is the reward measurable? Is the risk limited and easy to overcome if mistakes are made? What needs to be done to reduce the risk involved?
3) What do we get out of it? If all goes well, what are the expected gains? Who comes out the winner? Does anyone lose?
4) Whose feathers will get ruffled? Some employees and executives are sure to have a greater stake in the change than others. If certain people have a vested interest in opposing the change because it would mean a loss in power or income, is the cost of possibly losing them worth it?
5) How will the competition react? You probably have your finger on the collective pulse of your competition. They are sure to pick up on a significant move for market share. How will they react?
If it is time to make a change in your business, consider the above questions before coming to a definitive conclusion.