Develop sales plans
Overview
This standard is about development of sales plans. These plans are essential for delivering sales activities. The standard includes producing a plan to achieve sales targets, considering the frequency and level of sales activities required, and building in allowances for potential problems. This standard is for sales professionals who are involved in planning sales activities.
Performance criteria
You must be able to:
1. use information about customers, competitors and markets to make informed decisions about the development of the sales plans
2. review the profitability and sustainability of products and services within the portfolio to determine selling priorities
3. identify and evaluate the range, nature and frequency of sales activities required to achieve sales targets
4. produce sales plans in accordance with current legal, regulatory, political, technical and ethical considerations
5. identify the key resources and budget requirements for implementing the plans, taking into consideration number, size and location of customers
6. monitor and control key performance indicators for measuring the success of the plans
7. identify risks that might impact the achievement of the plans and identify mitigating actions
8. collate sales plans feedback from colleagues and make any necessary adjustments to the plans in line with organisational processes
9. communicate the plans to stakeholders and gain commitment to the implementation and achievement of the plan and targets
10. evaluate the sales plans and identify appropriate actions to review and improve these
Knowledge and Understanding
You need to know and understand:
1. the current legal, ethical and regulatory requirements of the industry and professional sectors
2. the range of competitor sales activities in the industry and professional sectors
3. the organisation's marketing and sales strategies and how the sales plans are aligned with these
4. the principles of sales planning
5. the relevant models, tools and templates for sales plans
6. the factors to be considered when reviewing the profitability and sustainability of products and services
7. the communication and consultation methods in relation to development of sales plans
8. the range of resources available for implementation of sales plans
9. how to take account of budgetary information and constraints when developing a sales plan
10. how to identify the resources required for the implementation of sales plans
11. the organisational practices for monitoring and controlling sales activities
12. the potential risks and issues associated with sales plans and mitigation methods
13. how to monitor and evaluate performance of sales plans