Sales Management

Sales management is the coordination of people and resources to effectively produce the desired goal. These long term goals can be wide-ranging,

Sales management is the coordination of people and resources to effectively produce the desired goal. These long term goals can be wide-ranging, which is the coordination of people and resources to effectively produce the desired goal. These long term goals can be wide-ranging, however, they are generally increased sales volume, contribution to profits, and continuous growth. To achieve these objectives, sales managers have vast responsibilities including, but not limited to demand/sales forecasting, establishing quotas/objectives, budgeting, organization, recruitment, training, compensation, and sales performance evaluation. At the end of the day, however, the most important role of sales management is not to manage sales, but to manage the people who make the sales.

Sales are the only function in an organization meanwhile that generates revenue or income for a company and hence it needs to be managed properly. Likewise, the financial results of a company depend upon the performance of the sales department.

Why Sales Management is 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. To clarify the tone and culture of the sales teams, created by sales management, can help generate passion and boost morale among individual reps.

The Three Key Aspects of Sales Management:

There are three “umbrellas” to manage within the sales process, these are:

• Operations
• Strategy
• Analysis

Important tasks in sales management:

1. Sales planning:

This area 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.

2. Recruitment of sales staff:

An integral portion. Sales managers are however tasked with managing the personnel they have under them. This extends from the recruitment and hiring of staff, through training and one on one coaching. When it comes to the recruitment of staff, sales managers must analyze the open position, create a job description, and above all qualify the applicants.

3. Sales reporting:

Tasked with developing and similarly, analyzing KPIs 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 allows senior management to evaluate the overall health of sales, as well as the performance of the sales manager individually.

Nature of Sales Management:

Process of Sales Management:

1. Lead Generation: Lead generation is a marketing process. The interest in a product or service is stimulated and captured for developing a healthy sales pipeline. However, for modern businesses, digital channels are being used for lead generation based on new online and social selling techniques.

2. Lead qualification: Lead qualification is the process where the leads perfectly fit for your product or service. Yet the definition of a “qualified lead” varies from company to company.

3. Lead Conversion: The process of turning a lead into an opportunity/deal, converting prospects into customers. Leads from inbound or outbound marketing activities.
4. Post Sales: The relationship between a prospect and the company subsequently does not end when the deal is won. Such a personal touch also helps bolster a stronger and closer client-business relationship. It is starting off a lasting relationship.Conclusion:Therefore, it is the process of developing a sales force, coordinating sales operations, and implementing sales techniques that allow a business to consistently hit, and even surpass its sales targets.