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The art of meeting and exceeding the sales goals of an organization through effective planning,
controlling, budgeting and leadership refers to sales management.
Sales Management helps the organization to achieve the sales targets efficiently.
Sales professionals should follow the below mentioned steps for maximum sales and better
output. Do not ignore any step.
i. Initial Contact/Lead
Collect necessary data of potential customers once the target market is decided.
ii. Information Exchange
Inform the customers about various product offerings.
Make the customers aware of your brand and its benefits.
The information exchange can be either:
Why is it important?
Sales managers have one of the most vital roles in any organization. Without one, a sales team
will most likely become dead in the water. A good manager organizes and drives their sales
team towards achieving their goals of increased revenue and productivity. The tone and culture
of the sales teams, created by sales management, can help generate passion and boost moral
among individual reps.
The important tasks in sales
management:
1. Sales planning
This area of sales management involves setting the objectives toward which the sales team will
work. Some of the individual tasks involved are setting overall sales targets, quotas,
demand/sales forecasting and strategy.
3. Sales reporting
Sales management is also tasked with developing and analyzing KPI’s for their sales team. By
understanding these indicators, managers are better able to track and make adjustments to
improve productivity. Reports passed up the ladder allow senior management to evaluate the
overall heath of sales, as well as the performance of the sales manager individually.
Identify goals and objectives of the sales team. Be clear on your sales targets. Make sure the
targets are realistic and achievable. Also assign a fixed timeline to achieve the targets.
Know your product well. Understand what benefits end-users would get from your brand.
The marketers must interact with customers to find out more about their expectations from the
product as well as the organization. One would not be able to convince the customers unless and
until he himself is clear with the benefits of the products.
Identify your target market. Selling techniques and strategies can’t be same for all individuals.
Each audience has different needs, interests and requirements.
Hire the right individual for the sales team. Remember the sales professionals have a major
role in the success and failure of organizations. Recruit individuals who are aggressive, out of the
box thinkers and nurture the dream of making it big in the corporate world. Make the sales
representatives very clear about their roles and responsibilities in the team. Develop a lucrative
incentive plan for them. Incentives and monetary benefits go a long way in motivating the sales
team.
Don’t lie to your customers. It is important to maintain transparency. Communicate what all
your product actually offers. It is unethical to make false promises. Only commit to what you
actually can deliver to customers.
Know what your competitors are offering. It is essential to do a SWOT analysis of your
organization to know its strengths, weaknesses, threats and opportunities. A marketer must know
how his product is better than his competitors.
Sales representatives must do their homework before going for a sales call. One should
never go unprepared. Remember the customer can ask you anything and you have to be ready
with your answers. The management must promote training sessions at the workplace to upgrade
the skills of the sales professionals and expect them to deliver their level best.
Devise strategies as per the target audience. Know your market well. The individuals must be
able to relate to your products. The strategies must be formulated in the presence of all. Each
one should have a say in the same. Let everyone come out with his suggestions. Be ready with
alternate plans if one plan fails.
The management must conduct frequent meetings with the sales team to review their
performances. Keep a track on their daily activities. The sales team must prepare Daily Sales
Reports (DSR) for the superiors to know what they are up to.
One must assess his own performance. Recall your interactions with the clients and analyze
where you went wrong and where things could have been a little better.
Treat your customers well for higher customer satisfaction and retention. Don’t oversell.
Once you are through with your sales presentation, don’t be after your client’s life. Give him time
to think and decide.
The sales pitch must be impressive for the desired impact.
A big part of the sales manager's job is getting her sales team to fall in line with
company sales initiatives and overarching strategies. It is easier said than done,
as salespeople — especially the great ones — tend to be very independent,
tough-minded folks. So how do you get them to sign on to and execute a
new sales strategy that's been imposed on them from high?
Just telling the sales team what the new plan of action isn't enough. Remember,
salespeople, are often independent and contrary.
If you're asking them to change their whole way of doing business, you must
explain why the new strategy is important to the company and why you think it
will work better than the old strategy. If you don't know the answers to these
questions yourself, pester upper management until they tell you.
Once you've explained what the strategy is about and why it matters to the
company, the next step is to explain why it matters to your sales team.
In essence, you're selling your team on this new plan, so you need to approach it
in the same way that you'd approach a sale to a prospect. In other words, you'd
better have some powerful benefits to share with the sales team. Without
benefits, why would the team bother to make more than the minimum effort to
adhere to the new strategy?
You won't know if the strategy is working unless you can collect some actual
data. As part of the new strategy, you should set up some new goals and ask
your team to keep track of their relevant sales metrics. This information will allow
you to compare the results of your team's new approach with their old strategy,
allowing you to hopefully prove to them that the new approach is, in fact, helping
them to sell better.
If your new strategy involves using social media and no one on your sales team
so much as has a Twitter account, you are going to need to get them some
serious training before you proceed. Otherwise, even the most enthusiastic
salesperson will struggle to close sales under the new regime. Whatever tasks or
sales skills your new approach emphasizes are the ones that your salespeople
will need to master before they can succeed.
If you're not sure how strong your team is in these areas, either meet with them
one-on-one and ask about their experience with those tasks or schedule a time
to go with them on appointments so that you can see for yourself.
Implementing a whole new sales approach is no minor task. Your sales team
needs to know that you appreciate how hard they're working even if their efforts
aren't met with instant success.
One approach is to set milestone goals for which you provide a small reward (for
example, giving each salesperson a $20 gift card after they've made 200 cold
callswith the new script). Some generous verbal praise can also make a big
difference in morale. And when sales do start to take off, you should certainly
praise and reward your team publicly.
On the other hand, if your team starts to slip and goes back to their old sales
strategies, you must hold them accountable. If you simply overlook backsliders,
your team isn't likely to maintain a change in strategy for long.
The more mature your sales process is, the more the manager adapts
and improves it over time, the more likely your team will achieve top
performance.
In the same way that we've outlined the three aspects of sales
management, there are three key stakeholders involved with the sales
management process: the sales manager, salesperson, and customer.
Sales evaluation involves an analysis of the performance of your sales personnel. Through sales
evaluation, your sales team members learn about their strengths and weaknesses, so they know
which areas to improve. If you conduct proper sales evaluations regularly, you may improve the
efficiency of your sales efforts and drive up your profits.
A 2001 Gallup Management Journal study found that customer loyalty is one of the strongest
indicators that your sales force is doing its job. Gallup notes: “The best sales forces we have studied
aren't just selling products or services; they are building customer loyalty … your sales force is a key
factor in generating loyalty and emotional attachment to your company.” If your sales force, or the
individuals that make it up, are selling a lot but not bringing back the same clients again and again,
you may be in trouble when the competition introduces a new product or service. Check to see
which team members have the highest customer loyalty.