A Sales Campaign is a focused, time bound sales effort with special offers on price, services OR features.
Business Objective for Sales Campaign
Effective Launch, Follow-up and Validate a Sales Acquisition Campaign
Key Sales Campaign Business Questions
- What should be the constructs of my campaign and what are expected benefits?
- Does my campaign has a business case?
- How well my campaign is doing and has done?
- Is my sales staff following up on the leads and Customer response?
- Is my operational staff meeting the delivery commitments to the respondents?
- What has been the cost of my campaign vis-a-vis additional business benefit?
- What has been the improvement OR changes from the previous campaigns?
NOTE- It is recommended to maintain a balance between driving your business through sales campaign and Business as Usual. Most of business should be through business as usual effort, to build long term sustainable capabilities. Every sales campaign takes away organization's band-width and also typically has an impact on profitability per unit (for sales campaign offering discounts).
Objectives for a Sales Campaign
- Product Launch Campaign
- Revenue Enhancement Campaign
- Inventory Clearance Campaign
- Brand Building Campaign
- Customer-base enhancement campaign
- New office OR outlet campaign
Following are the stages in sales campaign management.
- Initiation of the sales campaign
- Sales Campaign Design
- Sales Campaign Preparation
- Sales Campaign Launch and execution
- Sales Campaign closure
- Post Campaign follow-up
Success Drivers of a sales campaign
Product and Financial Design band-width
Sales campaign is typically associated with some price discount OR an additional offer on the same price. While sales campaign is initiated by the head of sales OR head of business, the product and finance teams have to respond quickly to the proposed options for a sales campaign. The analysis by these team, needs to confirm if the campaign offering is making sense in terms of product feasibility. For example X minutes of free talk time with every new mobile connection. One also need to see if it makes financial sense as company would not like to loose money for the sale of getting new customer (mostly true).
IT Infrastructure support
Your sales campaign has a price change OR/and has a product version change (For example, change in the interest rate over the balance transfer for a credit card for those customer who buy the credit card within a certain period). This perhaps means doing some set-ups in the core production systems and also creating some new reports, and analytics. A sales campaign does not only impact the CRM sales campaign systems, but may also impact the core production systems.
Sales campaign is expected to provide a surge to sales, and therefore the supply chain should be prepared to respond to this surge.
Sales compensation incentive
A sales campaign offers a value-proposition to customer OR to the sales staff OR to both. Sometimes sales campaign is limited only to give a better incentive to sales staff with no change for the value-proposition to the customer. Even without special compensation, a sales campaign is an incentive for the sales channel, as higher sales is expected to bring in higher sales commissions and bonuses. When launching a sales campaign, a decision on how much OR if any change in the sales compensation for the sales campaign, can make a difference in the sale performance.
NOTE- Some times a company may give a lower sales compensation for a sales campaign, while giving an excellent proposition to the customer. An organization in this case, could be setting-off the financial impact with reduction in compensation. The case for the sales staff is - with higher expected sales revenue, sales staff may end up with higher absolute sales compensation.
Sales processes, sales outlets, inbound call-centres, out-bound call centres need to be ready for meeting the sale campaign demands. Your sales campaign brochures, revised sales collateral (like application forms) and promotion material availability and distribution should be able to meet the demands.
Sales Campaign Metrics- KPIs
- Sales Campaign Revenue objectives vs. actuals
- Sales campaign cost objective vs. actual
- Sales campaign profitability objectives vs. actual
- Sales campaign sales volume objectives vs. actuals
- Sales campaign customer base objectives vs. actuals