Want to know about sales management is? Let us understand the meaning, processes and everything else.
What Is Sales Management?
This is the process of coordinating sales operations, developing a sales force, and also implementing sales techniques that let a business not just meet but also surpass the sales target set.
All businesses that generate revenue regardless of the amount, need a sales management strategy. From managing and boosting sales performance for all kinds of industries, sales management plays a crucial role in all these processes but this begins with a great sales manager who leads and inspires the entire department.
Sales management can differentiate between flourishing and surviving as any company grows.
Three Key Aspects Of Sales Management
The three critical aspects of sales management within sales processes are:
- Sales operations
- Sales strategy
- Sales Analysis
This process may differ based on different companies but operations, strategy, and analysis are the may key starting point.
What Is A Sales Manager And What Does A Sales Manager Do?
Let’s first understand what the role of a sales manager is. A sales manager is the one who guides the team/salesperson and is responsible for the following:
- Setting sales goals and quotas
- Motivating and mentoring the team
- Creating sales plans and workflows
- Hiring and onboarding new hires
- Organizing sales training programs
- CRM and pipeline management
- Ensuring coordination with the sales enablement and marketing teams
- Overall team management
Apart from this, the three most important tasks a good sales manager excels at: building the team, defining the sales process, and reporting.
Sales Management Process
Sales management isn’t about just one process. All people involved have different responsibilities and strategies which is related to the team, resources, and products.
A sales manager in general consists of four main components and they are people, strategy, activity, and reporting. The sales management process has four steps and they are as follows:
Sales Hiring and People Management
All sales teams are as good as their manager, so the company must hire outstanding people to manage the sales team. The first part of the sales management process is hiring a solid sales team which consists of writing a good job description, interviewing the candidate, and working with HR for the sales compensation and more.
Apart from this, this stage also consists of people management like sales training and coaching along with team-building and more.
Sales Strategy Development and Management
Sales managers are responsible for setting the vision and strategy for their sale stream. One important part of this is the sales process which keeps the team aligned so that they work towards the same goals in a more aligned manner. This would also allow management and will identify inefficiencies that can be worked on.
Sales Activity Management
Sales managers are also responsible for overseeing the everyday work of the team – from the very start to the end. And this involves understanding losses, celebrating successes, and advocating for the team. One thing should be clear sales management is not just about sales but also the people.
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Sales Reporting Management
The very last step of this sales management process is analyzing and reporting on sales. There should also be a systemized reporting process so that the sales team knows where the work is measured along with the information where they can improve.
Sales managers’ duty is also to use this data to forecast the sales revenue and update the goals and team standards.
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Sales Management is a process that is helpful for all sales teams and the growth of the company. It helps teams to meet targets and achieve their goals. But like said earlier, management is only possible if the sales manager is good and knows how to assign tasks and help the team in achieving their goals.
Frequently Asked Questions (FAQS)
What is the 5 process of sales management?
The 5 processes of sales management are:
What are the four basic elements of sale management?
There are four key components of sales management: the people, the processes, the numbers, and the setting of a sales strategy.
What are the basics of sales management?
Sales management is the process of hiring, training, and motivating sales staff, coordinating operations across the sales department and implementing a cohesive sales strategy that drives business revenues.