Sales Management

• Selling has become more professional than before. The primary responsibilities of a sales manager, which include planning, organizing, leading, and controlling, are becoming increasingly professional. The previous concept of a sales manager as someone with a pleasant personality who, of course, sells a sufficient volume of products has changed.
• Today, sales team management is a combination of art and science, with an emphasis on effective team synchronization in order to achieve profit goals.
• Sales Management


  Refers to making best use of the benefits a company and its customers obtain from the hard work of its sales force. It consists of the planning, implementation, and control of sales programs, in addition to recruiting, training, motivating, and evaluating sales personnel.
• Sales Management


  The attainment of sales force goals in an effective and efficient manner through planning, staffing, training, directing, and evaluating organizational resources.
• XYZ Corporation


  • Aims to increase its market share by 10% within the next fiscal year
  • Focuses on aggressive marketing strategies, such as offering competitive pricing, launching new products, and expanding distribution channels
  • Introduces a loyalty program where customers earn points for every purchase, encouraging repeat business and attracting new customers
• Corporate image


  How a company is perceived by its customers, stakeholders, and the general public
• A positive corporate image can enhance customer loyalty, attract new customers, and build trust among stakeholders
• Sales management plays a vital role in shaping and maintaining a positive corporate image through effective marketing strategies, customer service, and brand positioning
• XYZ Corporation


  • Ensures that all employees are well-trained in customer service skills and emphasizes ethical business practices
  • Promptly resolves customer complaints about faulty products by offering a replacement or refund without any hassle
• Growth


  • Essential for any business to thrive and remain competitive in today's dynamic marketplace
  • Allows companies to expand their customer base, increase market share, and ultimately generate higher revenues
• XYZ Corporation


  • Aims for sustainable growth by expanding its product line and entering new markets
  • Diversifies into wearable technology or smart home devices to tap into emerging markets
• Selling


  A process which consists of the interaction between a possible buyer and a representative hired by a company to vend its products to possible buyers
• Selling process steps


  • Prospecting and Qualifying
  • Pre-Approach
  • Approach
  • Presentation
  • Handling Objections
  • Closing
  • Follow-up
• Prospecting and Qualifying


  • Identifying potential customers or leads who may be interested in purchasing the company's products
  • Conducting research, gathering information, and evaluating these leads to determine their suitability for the product being sold
• Prospecting and Qualifying (car sales)

  • Researching individuals who have recently expressed interest in buying a new vehicle or have visited car dealerships
• Pre-Approach


  • Preparing for the initial contact with the potential buyer
  • Gathering relevant information about the buyer's needs, preferences, and any previous interactions they may have had with the company
  • Helps establish a good first impression and allows for a more personalized approach during the sales pitch
• Pre-Approach (car sales)


  • Finding out if the customer prefers fuel-efficient cars or has specific features in mind
• Approach


  • When the salesperson makes initial contact with the potential buyer
  • Could be through a phone call, email, or face-to-face meeting
  • The approach should be friendly, professional, and engaging to capture the buyer's attention and interest in hearing more about the product
• Approach (car sales)


  • Phone calls, emails, or face-to-face interactions at car dealerships
• Presentation


  • Actively listening to the needs and wants of the potential customer and demonstrating how the firm's product can meet those needs and wants
  • Involves preparation to understand the customer's needs and offer a suitable solution
• Presentation (car sales)


  • Showcasing the features and benefits of their product to convince the customer that it meets their needs
  • Providing test drives or showing videos highlighting different aspects of the car
• Handling Objections


  • Potential buyers may raise concerns or objections about purchasing the product
  • The salesperson must address these objections effectively by providing additional information or addressing any misconceptions that may arise
• Handling Objections (car sales)

  • If a customer expresses doubts about the car's reliability, the salesperson can provide real-life examples of satisfied customers who have had positive experiences with the same model
• Closing


  • Asking for commitment from potential buyers to make a purchase decision
  • The salesperson uses various techniques such as trial closes or offering incentives to encourage buyers to take action immediately rather than delaying their decision-making process
• Closing (car sales)


  • Employing persuasive techniques such as offering incentives or highlighting unique features that make their vehicle stand out from competitors
• Follow-up


  • After the sale is made, the salesperson should maintain contact with the buyer to ensure their satisfaction and address any post-purchase concerns
  • This step helps build long-term relationships with customers and encourages repeat business or referrals
• Follow-up (car sales)


  • Sending a personalized thank-you note or offering discounted services for future maintenance
• Sales management process


  Consists of three interconnected sets of decisions or processes: Formulation of a Sales Program, Implementation of the Sales Program, and Evaluation and Control of the Sales Program
• Formulation of a Sales Program

  • Involves setting clear objectives and goals for the sales team, identifying target markets, and developing strategies to reach potential customers
  • Requires careful analysis of market trends, customer needs, and competitor activities
• Implementation of the Sales Program

  • Organizing and training the sales force, assigning territories or accounts, providing necessary tools and resources, and establishing performance metrics
  • Ensures that all members of the sales team are aligned with organizational goals and are equipped with necessary skills to perform their roles efficiently
• Evaluation and Control of the Sales Program

  • Monitoring performance against set targets, analyzing results, identifying areas for improvement or adjustment if necessary, and taking corrective actions when needed
  • Allows companies to measure their success against objectives set during formulation while control ensures that deviations from plans are identified early on
• External environment


  All the factors outside the organization that can influence its operations and performance, including economic conditions, technological advancements, social and cultural influences, legal and political forces, and natural environment
• Internal environment


  All the factors within the organization that can affect its functioning, including production & supply chain capabilities, goals, objectives, and culture, human resources, financial resources, service capabilities, and research & development & technological capabilities
• Common mistakes in sales

  • Not understanding selling
  • Expecting things to improve by themselves
  • Talking excessively and not listening enough
  • Saying words that kill sales
  • Not knowing when to close the sales
  • No sincerity
  • Not paying adequate interest to details
  • Letting oneself slump
  • Not keeping connected
• Not understanding selling


  • Selling is not just about pushing a product or service into customers; it requires building relationships, understanding customer needs, and providing solutions
  • Salespeople who do not take the time to learn and develop their selling skills often struggle to close deals and meet their targets
• Expecting things to improve by themselves

  • Sales is a highly competitive field, and success does not come easily
  • It requires continuous learning, adapting to market trends, and staying ahead of the competition
  • Salespeople who simply wait for things to get better without taking proactive steps are likely to fall behind
• Talking excessively and not listening enough


  • Effective communication involves active listening, understanding customer concerns, and addressing them appropriately
  • When salespeople dominate conversations without giving customers a chance to express themselves, they miss out on valuable information that could help them tailor their pitch and close deals more effectively
• Saying words that kill sales


  • Communication plays a vital role in sales, and the wrong choice of words can instantly turn off potential customers
  • Salespeople must be mindful of their language and avoid using negative or pushy phrases that may alienate prospects
• Salespeople who do not know when to close the sales are likely to fall behind in this highly competitive field
• No sincerity


  • In today's competitive world, customers are looking for genuine connections and trust
  • Salespeople who fail to establish a sincere relationship with their customers often struggle to close deals and build long-term partnerships
  • It is crucial for salespeople to genuinely care about their customers' needs and provide personalized solutions