Sales management refers to the directions of salesforce with all management functions and activities of the organization.
It involves the distribution of goods and services. It is the strategy and the easiest way to generate revenue and profitability of an organization. It translates the marketing plan in marketing performance.
Sales management manages all the marketing activities, such as advertising, promotion, marketing research, personal selling, physical distribution, pricing, and product merchandising.
It is the muscle and also sub-system of marketing management. Thus, it is administrative, operating as well as a strategic function. the primary objective of a sales manager is to maximize the profit of an organization.
Objectives of Sales Management:
A sales manager has mainly three objectives: Increase sales volume, Continuous growth, and Contribution to profit.
INCREASE SALES VOLUME:
The fundamental and essential objective of a sales manager is to increase the sales volume through different marketing strategies.
A company cannot survive without continuous growth because there are salaries to be paid, different costs have to be incurred and shareholders to be answered. So, time to time innovation in product and adopting new technologies to sale the product is necessary for continuous growth.
CONTRIBUTION TO PROFIT:
Sales bring turnover for the organization. Increase in sales means the increase in profits. Top management sets the different pricing strategies to achieve maximum profit for the organization.
Importance of Sales Management:
- Helps to achieve organizational board objective
- Creates empowerment opportunities
- Sales management helps in the effective management of salesforce
- Ensure effective salesmanship
- Helps in skill formation,
- Monitor the customer preferences, competitor’s situation, government policies, and other regulatory bodies.
- This may helps in controlling sales expenses,
- Promotes customer satisfaction,
- Helpful in promoting foreign trade,
- Monitor sales performance,
- Helpful in increasing the standard of living,
- It Helps in contribution to national income
- Establish a relationship between buyer and seller,
Essentials of Sales Management:
Emerging Trends in Sales Management:
|Global Presence||Innovative Technology|
|Better Customer Relationship Management||Diversity Among Salesforce|
|Team-Based Selling Approach||Multi-Channel Operations|
Due to global differences in culture, lifestyle, languages, tastes, and preferences, salesforce should have well equipped with improved technology, strategy, and operational to upgrade themselves for international levels.
Technologies helped companies to communicate and easily connect with worldwide customers. Adopting new and innovative technology promotes product sales. Sales managers must be aware of new and updated technologies.
Better Customer Relationship Management:
In the present era, being a successful and reputed organization, it is better to make a long-term relationship with its old customers. Because retaining an old customer is less expensive than acquiring the new one. So, building up long-term relationship helps the organization to achieve their objective and to know more about customers need and preferences.
Diversity Among Salesforce:
There is always exists multiplicity among salesforce in the organization.
Team-Based Selling Approach:
It is a team-based selling approach. They sell the product as a team to build long-term relationships with potential customers. Generally, sales team consists of top management, technical specialists, inbound and outbound salesperson, etc.
These operations lower the overheads and customize the selling techniques. It helps to reach out for potential customers in a different way.