Sales management is one of the fundamental activities that allows the company to be competitive in the market and to increase turnover. Knowing how to manage the sales process in a fluid and simplified way increases the possibility of positively concluding negotiations and increasing revenue. In this aid, we will investigate the following:
- What are the principal exercises for sales management ;
- Instructions to deal with the deals stream: from the underlying contact to the marking of the agreement;
- What is the best administration answer for work crafted by the business power and incrementing the outcome of your business?
Fundamental Activities For Sales Management
To more readily organize deals and the deals compel, you want to know how to oversee 4 central components successfully:
- the stages of the sales process: having clear and characterized cycles and exercises to be completed all through the deals stream;
- The sales milestones: understanding the situation with my chance and assessing what measures to take to go on with the vital stages to close the agreement;
- The key activities of the sales team: identifying all the actions that the sales force must undertake to achieve the set objectives;
- Relationships between customers, the sales force, and company collaborators: monitoring the level of interaction between these players and improving communication between them.
Today, for SMEs, using digital solutions such as CRM to effectively manage and track all the activities carried out by the sales force has become more important than ever. The efficiency and speed of these tools allow you to view and analyze the key activities performed during a sales cycle to:
- identify key people: we need to know who is the decision maker and who other people are involved in the sales process;
- align sales timing with the customer: this element is a discriminating factor in determining a successful or unsuccessful negotiation;
- analyze the competition and mark improvement activities;
- map the criteria that lead the client company to make purchasing decisions;
- connect the ability to create and implement up-selling and cross-selling strategies for future sales;
- manage the part of campaigns, email marketing, and communication through a database formed by one or more lists of qualified contacts;
- monitor sales control through intuitive dashboards that show us the sales pipeline, forecast, goals, and objectives to be achieved immediately.
The Sales Management Process: From Lead To Customer Order
In one of our previous studies, we have seen how increasing one’s sales opportunities through lead management is possible. This activity is a part of the sales process, which, as shown in the figure below, is divided into the following phases: Qualification, Development, Proposal, Closing, and Fulfillment. Let’s see in detail the activities carried out in these 4 steps.
The qualification phase starts with identifying the lead or the user who has shown interest in the organization, its products, or services. This figure is moving towards a process also defined as Sales Conversion. Once the lead has been generated, it is necessary to qualify it to understand whether or not to continue the negotiation:
- if not: the lead is disqualified, and the sales process is closed;
- if so: the lead is qualified, and you move on to the next stage.
In the development phase, the sales opportunity is created with which the sales force will have to organize commitments and activities. Qualifying the opportunity generates a lead, called a prospect, and creates a link to an account.
In the proposal phase, the offer is created, and the latter is expanded into several versions based on the information received from the customer. Once the sales force has identified the valid offer, this is generated for final approval by the customer. At the same time as the previously listed processes, the management of products and sales lists takes place.
Closure And Evasion
In the last phase of the process, an order is created, which, thanks to the integration with the CRM, passes within the ERP, and subsequently, the invoice for the customer is created for its evasion.