Evan Carmichael Top Header about About About facebook Twitter YouTube Google+

Controlling the Assumptions in Your Sales and Marketing Strategy



Free PDF Download
How to Use the Wordpress Admin Page - Posts - Wordpress Design - By Bill Tamminga

Name: Email:


When you incorporate a new strategy into your service business there are certain assumptions that are made upon which the success of your strategy relies. These assumptions need to be monitored and controlled to give your company the greatest chance of accomplishing your stated objectives. The assumptions we make as business leaders are limited to two primary areas: 1) the external environment and how it will change, and 2) the industry in which we operate.

1) Outside Environment. The external environment is something that we really have no control over, but we can make some intelligent predictions about what will or may happen and then determine how we should shape our strategy in light of those predictions. Consider for a second how new housing developments in your city might affect your business. While you have little say in whether or not the developments actually happen, the fact that they take place means you have new opportunities to offer your services to a larger group of people and you can plan your sales and marketing efforts accordingly. Other assumptions can be made about inflation, new governmental regulations regarding employment or quality standards, or major demographic shifts.

2) Industry Changes. Industry changes will also affect the successful implementation of your strategy. They may come from competitors, suppliers, or distribution partners. If a competitor is scaling back and reducing staff, it might create an opportunity to enhance our presence. If we predict that a supplier will raise prices, we may need to adjust our own pricing or start looking for a new supplier to maintain our required margins.

Making the assumptions is the easy part. Controlling them is a different matter. The first thing to remember is that you only need to keep tabs on the assumptions that could have a drastic impact on your success. Think again about the housing development example. If the housing market stumbles and development stops, you will have to rethink your prospecting strategy and make adjustments. So how can we keep our eyes on upcoming changes and make those adjustments?

1) Conduct market tests. If you think your suppliers will raise their prices in the next 6-12 months, do a test run of your products/services at a higher price point and see how the market reacts to your pricing change. If the reaction is reasonable, maybe you don't need to look for a new supplier. If the reaction is drastic, you better get on google and search for someone new.

2) Schedule time to analyze your strategy at key points throughout the year. Conduct a quarterly review of your assumptions and compare how they align with reality.

3) Read, re-read, then read some more (and go to a conference). The Wall St. Journal, industry publications and blogs, social networking sites, local newspapers, and conferences are great sources of information about what is changing and how it might affect your business.

If your sales and marketing strategy is established for the next few months, remember to watch out for current trends in your industry and in the external environment. It will help you stay on top of any changes coming your way that require a an adjustment in your strategy.


Related Articles

  Assumptions
  Enough Leads for the Sales Force? How to Convert More of Them More Quickly
  Enough Leads for the Sales Force? How to Convert Them More Quickly
  MIND TRAP: When we don’t question assumptions
  One Key to Strategic Planning is to Confront Your Assumptions
  Part 5: Marketing and Sales Strategies
  Assumptions Anyone?
  2 Leadership Mistakes That Will Cost You!
  The Art of Manifestation: When It Is Loving to Be Controlling
  Planning for 2011
  Single Parent Online Network Marketers – Controlling Your Time – The Basics – Part Two
  Those Damned Assumptions
  Increasing Marketing Supplier Performance Through Business Strategy Alignment
  Snail Mail Marketing: Ensure Bang for Less Buck
  The Blind Leading the Blind: Why You Really Need a Coach
  WHATS MISSING FROM SERVICE FIRM MARKETING STRATEGIES
  Who is in Control of Your Selling Career?
  Average or Ideal?
  Give Away Something To Build Value and Watch Your Sales Grows as a Business Coach
  Do you have the sales force your strategy needs?

Home > Small-Business-Consulting > Bill Tamminga > Controlling the Assumptions in Your Sales and Marketing Strategy >

Free PDF Download
How to Use the Wordpress Admin Page - Posts - Wordpress Design - By Bill Tamminga

Name: Email:

About the Author: Bill Tamminga

RSS for Bill's articles - Visit Bill's website
Bill Tamminga is an SEO expert and website designer in Denver, CO. He is the founder of TM&C, a web design and Denver SEO company that specializes in helping service businesses establish and grow their client base using action-oriented WordPress websites and unsurpassed search engine optimization. To date every TM&C client has at least one listing on the front page of Google. Visit Denver WordPress design company, TM&C for an instant quote on custom WordPress web design and search engine optimization.
Click here to visit Bill's website.
Dashed Line

More from Bill Tamminga
10 Sources for Quality Market Research and Market Statistics
7 Reasons to Use a WordPress Design For Your Business Website
Five Steps to Finding the Right Keywords For Your Website Search Engine Optimization SEO
How to Use the Wordpress Admin Page Posts Wordpress Design
Nine Components of Sales Marketing Strategy

Related Forum Posts

Online Sales and Marketing vs Traditional Online Sales and Marketing vs Traditional
Re: Online Sales and Marketing vs Traditional Re: Online Sales and Marketing vs Traditional
Book: Secrets of Six Figure Women Book: Secrets of Six Figure Women
Starting a New Business Starting a New Business
Hi Folks!!! Hi Folks!!!

Share this article. Fund someone's dream.

Share this post and you'll help support entrepreneurs in Africa through our partnership with Kiva. Over $50,000 raised and counting - Please keep sharing! Learn more.
Share for a Cause
Featured Article



Worksheets
By: Evan Carmichael

Do you have what it takes to be an entrepreneur?

8 Powerful Steps to Finding Your Passion

Does your pitch suck?

Create a plan of attach to launch your new business.

8-Cover

Like this page? PLEASE +1 it! Evan Signature
Bottom Footer



Newsletter

Get advice & tips from famous business
owners, new articles by entrepreneur
experts, my latest website updates, &
special sneak peaks at what's to come!
Name:
Email:
Popular Articles

Top Ten Listening Techniques

Setting a PR Budget

Suggestions

Email us your ideas on how to make our
website more valuable! Thank you Sharon
from Toronto Salsa Lessons / Classes for
your suggestions to make the newsletter
look like the website and profile younger
entrepreneurs like Jennifer Lopez.