What is sales management?
Sales management is a business discipline which is focused on the practical application of sales techniques and the management of a firm's sales operations. It is an important business function as net sales through the sale of products and services and resulting profit drive most commercial business.
Objectives of Sales Management
Sales management entails numerous objectives which are executed by sales managers. There are mainly three such objectives
- Sales Volume
- Contribution to profits
- Continuous Growth
The sales executives in this case are the ones who help implement these objectives. However it is the top management who has to outline the strategies to achieve these objectives of sales management. The top management should provide products which are socially responsible and are marketed in a manner which meets customers expectations and does not break it. Thus sales management involves a strong interaction between Sales, marketing and Top management.
Importance of Sales Management
Even if you have a knack for closing deals or have effective brochures, advertising and website pages for generating individual sales, that’s often not enough to maximize your profits. Using a variety of sales management techniques to reach that extra 5 percent to 10 percent of your potential can mean the difference between keeping your head above water and generating profits that fund your continued growth and expansion.
Sales management includes more than tracking the business you book and providing support for your sales team. It starts with helping develop the right products, setting the right prices and distributing in the right places, and continues with marketing messaging, customer service and other selling efforts. All of these efforts must be coordinated so one doesn’t interfere any of the others. Setting plans, monitoring them and tracking results lets you continue to adapt, eliminate weaknesses and take advantage of opportunities.