Sales is the stepping stone to a glorious career both for marketers and the business. If as a company or an individual, you could make a proper sale to keep the cash flowing and the revenue at an all-time high, then everything will go as smoothly as you have planned for you and your organization.
However, one more fact cannot be denied that an individual salesperson can only make a sales figure of twice as much as his capacity.
What is Sales Management?
In any organization, every department indirectly focuses on driving the sales. Sales management can be explained as the segment of the business that directly interacts with prospects for converting them into customers. The process of sales management requires proper planning, execution, and staffing of your sales team and completion of their goals.
A well-planned sales management strategy helps your business generate a satisfactory revenue and boost your sales performance.
Have clear procedures in mind for monitoring your sales process than creating the metrics required for tracking the entire process. This will help you pinpoint the pain areas in your sales process and get rid of the issue with proper consulting and training.
Plan your sales process:
Create the picture of the audience that you will be targeting to sell your product.
E.g.: Let’s say you are selling furniture.
You have three categories of customers
- decision makers,
- influencers, and,
A married couple with their fourteen-year-old kid visits the furniture store. The mother decides to go for a cabinet that has a study table and a compartment for keeping his clothes, the child will be the influencer and will suggest the father to get a specific type of study desk. The father is the final buyer.
You must know the availability of your audience in both online and offline channels, the geolocations where your presence will be required and all the selling methods and tools.
After designing the sales plan, hiring people for your sales team is your next vital move. This is vital since the competency of your team would reflect on your entire company.
Some factors to be remembered while hiring a team:
For a localized market, you will need a few people on your team who are familiar with the local dialect and surroundings.
Teams for multiple locations will need to have salespeople who are familiar with the area.
If your project requires people to travel for work, then include those candidates who are willing to do so.
Teams that are formed to work for offices located in different time zones must have teammates that are flexible about their timings.
Before fulfilling the hiring quota, make sure that you test all your candidates selling aptitude to create a growing sales team. It is also essential that your team is well trained about your product/service so that they know what they are selling and how they can sell it against the competition.
Design your sales strategy
Set monthly or quarterly targets for your salespeople and ensure that the targets are achievable and realistic. Most importantly there should be an alignment between your sales targets and the company goal.
Having a transparent process lets your team members know that you are not unfair or biased against them. Regularly analyze their performance and have meetings regarding any difficulty they might be facing.
Forecast your sales results
Analyze your sales patterns and match them with the industry trends. Doing so helps you predict the quantity of sale you can generate in your next sales cycle. Based on the deals present in your sales pipeline you can easily forecast the revenue.
With the help of sales forecasts, you can tweak your sales plan with new methods and push those strategies towards new audiences, and make adjustments to the strategies that are not giving you any result.
Analyze your sales efforts:
Measure every data related to your sales process, and by doing so, you can have insight on how things are working out for your team. Analyzing your sales efforts help in avoiding significant mistakes and assist in developing an optimal sales process for your sales team.
Create sales reports that will also help your top management make relevant decisions about the future and direction of the company.
Aspects of Sales Management
Many organizations understand that their sales team is the backbone of the company; they establish the direct connection between their product/services and the customer.
Hence your sales team must be provided with all the necessary resources to become the revenue generating unit that you want them to be.
Set up a productive team and set clear tasks for them, individually and as a whole as the completion of these tasks create awareness about your product and help in selling it to the final consumer. That is why creating a sales pipeline is required to have successful closure of the deals.
Check out The Sales Strategies For 2018
Reporting helps you in understanding how all your strategies are working towards your company’s success. Having an in-depth information about your strategies will help you make the required changes.
Your reporting must have actionable sales metrics, and measurable performance indicators that help you run sales operations and also tell you if your operations are functioning favorably or not.
Check out Sales reporting software for your small business
Practicing the sales management techniques help you understand your sales cycle and help in setting sales goals. The benefits of having a perfect understanding of sales management:
- Your sales team knows what you require them to do helping them set their plans accordingly.
- A clear plan of action helps the sales reps be productive and avoid working in a haphazard manner.
- Sales managers understand what to expect from the team.
- Sales managers can set clear goals for the team.
- Analyzing the team performance becomes easier.
- Sales prediction becomes more comfortable because of the availability of previous data.
- With proper sales plan, management can create actionable long-term plans.
- Top management can easily derive the overall performance of the company.
Proper sales management helps the overall organization but majorly affects these three segments:
A sales manager is the person who manages and leads the sales team, looking over and making sure that every process is being executed properly.
Well executed sale management strategies provide better clarity and scope to the sales team in planning and implementing company-wide targets. This ultimately helps them achieve their sales goals and helps generate the more revenue to keep the organization afloat and ahead of the competition.
They represent your company and your products establishing direct contact with potential customers using various sales techniques.
Sales is a tough job and to become a successful salesperson, effective sales management is beneficial. It helps build the confidence of your salesperson and gives them better visibility regarding their role and work.
An efficient sales management process will help you provide a better experience to your customers and they will be more inclined towards purchasing your product or services.
Meet Salesmate ’ Your All-in-one Sales Management Tool
The current market scenario requires every business to be smart, productive and lethal at the same time. With various management tools that are available in the market, businesses are bound to get confused.
This is where Salesmate comes in. Although it is part of the same market, Salesmate has various features that simplify the business process for various enterprises.
The smart and intuitive sales pipeline management helps decision makers get the eagle eye view of their various deals and prospects. The sales intelligence and forecasting tools make it the all-in-one sales management tool that every startup and SME deserves for their long-term market growth.
Sales management helps every business efficiently manage their sales process and enhance the overall sales cycle. A company will always gain an edge over their competition when all the segments of their business are working well together.
Having a CRM is the midst of all of this helps you manage everything in your sales process in a better and a more productive manner. If you want to understand how Salesmate CRM can come in handy for your business process, then do connect with us.