Introduction to sales management

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Information about Introduction to sales management

Published on December 26, 2008

Author: varun23oct


Introduction To Sales Management : Introduction To Sales Management Varun Aggarwal Sapna Rana Nitin Kumar Preeti Kumari Shashank Rana Vijay Kundra Jyoti Chauhan Pre-Industrial Revolution Period : Pre-Industrial Revolution Period Small-Scale enterprises dominated Manufacturing received most importance Single Supervisor was required to manage firms Poor Working Conditions & Low Wages Post-Industrial revolution : Post-Industrial revolution Great Expansions in the area of sales coverage Sales department grew its importance Fundamental Shifts in Social Structure Technological Development -Textile Manufacture -Mining -Steam Power -Effect on agriculture Slide 4: Objectives are Decided Achieved by salesman and Middlemen Time Bound Goals Delegated to salesman These are Achieved by following a Strategy Exchange Process : Exchange Process “Customer is the boss – yesterday, today and tomorrow”. “Customer is profit – everyone else is overhead”. Ways By Which Exchange Can Take Place : Ways By Which Exchange Can Take Place Directly(Through its own sales force) Indirectly(through middlemen, retailers, wholesalers) Jointly Key Concepts & Steps : Key Concepts & Steps Before you begin Create the right compensation plan and tie it to your revenue goals Set realistic quotas Hire the right people Coach and provide feedback Generate good reports Motivate! Responsibilities : Responsibilities Building the right sales strategy Hiring the right team Creating the right compensation plans, territories and quotas Setting the right projections Motivating your team Tracking revenue against goals Resolving conflicts Training and coaching sales reps Managing processes Getting the sale! Sales Management Cycle : Sales Management Cycle Analysis Organization Direction Planning Control Coordination with others : Coordination with others Sales Personnel as coordinators Coordination with Marketing Coordination with Distribution network Coordination with Finance Coordination with HR Coordination with Services Advantages to the marketing manager : Advantages to the marketing manager Understanding the economic structure of your industry Identifying segments within your market Identifying your target market Identifying your best customers in place Doing marketing research to develop profiles (demographic, psychographic, and behavioral) of your core customers Understanding your competitors and their products Developing new products Cont… : Cont… Establishing environmental scanning mechanisms to detect opportunities and threats Understanding your company's strengths and weaknesses Auditing your customers' experience of your brand in full Developing marketing strategies for each of your products using the marketing mix variables of price, product, distribution, and promotion Coordinating the sales function with other parts of the promotional mix (such as advertising, sales promotion, public relations, and publicity) Creating a sustainable competitive advantage Advantages to sales people : Advantages to sales people Better communication and co-operation between sales personnel facilitates successful team selling. More and better qualified sales leads could be automatically generated by the software Objectives of Sales Management : Objectives of Sales Management Quantitative objectives(short term) To retain and capture market share To determine sales volume In ways that contributes to profitability To obtain new accounts of given types To keep personal expenses within specified limits Objectives of Sales Management : Objectives of Sales Management Qualitative objective(long term) To do entire selling job To search and maintain customer cooperation To provide technical advice wherever necessary To assist in training of middleman’s sales personnel To collect and report market information of interest and use to the company management Slide 16: Best Case - Sales team is a revenue machine. - People have right skills and experience -They’re motivated to come in each day and close business. -You coach them regularly to improve their performance. -When problems arise, they’re dealt with swiftly. -The sales team does a great job delivering the company’s value proposition, brand strategy and messages. Slide 17: Worst Case - Your sales team isn’t strong. They may not have a dedicated sales manager to help improve performance. - They may not have enough experience, especially if you’re a small company that can’t yet afford the big hitters. -You have a pipeline but don’t know what’s happening with prospects; it takes longer than it should to close deals. -You suspect you need an entirely new sales operation. Slide 18: Neutral Case - There are strong and weak players on the sales team. - Some require a lot more hand-holding than you’d like; there isn’t always time to give them the help they need. As a result, their close ratios are much lower. They’re probably not hitting their quotas, but they’re not a major liability to the company. Difference Between Marketing & Sales Management : Difference Between Marketing & Sales Management Marketing and sales are close relatives. Marketing sets the scene. Sales finish the job. When all else is said and done, marketing is part of the sales process. Sales is the end result of marketing.  Sales is a part of marketing. It is the transfer of title of ownership of goods. Cont… : Cont… Marketing is concept oriented and Sales is product oriented. The Marketing function creates the dark clouds, and the Sales function makes the rain. Direct Sales/Sales Management : Direct Sales/Sales Management Challenges Large number of Prospects High cost of sales Low revenue per customer Ineffective channel sales team Needs Improve collaboration with channel partner to increase reach and reduce cost of sales Track movement of opportunities through pipeline to identify bottlenecks Provide on-time sales support to channels Conclusion : Conclusion Crucial functions of an organization Principle and generating function in the organization Helping an organization achieve its goals Contribute to profits and attain long-term growth Slide 23: Thank You!

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