What is Sales Management?
Sales management is the act of organizing a team to help them build better relationships with customers and close more deals. Therefore the sales manager’s job is to implement specific strategies that help the team meet or exceed the company’s goals.
All businesses need to understand how to sell. But successful businesses aren’t just built on the backs of talented sales reps, they also rely on competent sales managers.
What does it mean in practice? What are these strategies that sales managers can implement to help their teams increase sales? If you find yourself asking these questions, take a minute to read this article.
Managing a sales team can be really challenging. Sometimes, individual interests can override what would benefit the team. It’s your job as a sales manager to put strategies in place that prevent this from happening.
One way to do this is to set a number of goals, both individually and as a team. You don’t necessarily have to set sales goals on an individual level if you don’t think it’s appropriate.
You need to create an incentive structure. This not only helps you generate revenue, but also motivates employees. Make sure you communicate any goals to your sales team members.
Incentives dominate the activities of your sales reps. Give them the right incentives and they will work hard. Give them the wrong reasons and you may end up with a problem on your hands.
Many sales managers give commissions attract new customers, but provide nothing to those who sells to existing accounts. Sales reps will focus their efforts on finding new customers leaving opportunities with existing customers behind.
New hires & onboarding experience
New people will continuously join your sales team. It is imperative that you communicate the company’s values. Onboarding should include information on how to use your CRM systems and make deals with clients – this includes comprehensive training on legal processes, sales tools, and role parameters to ensure their maximum success.
Training new hires thoroughly and equipping them with all the sales tools to manage their sales pipeline is very important. Show them that you care about their interest and that you want them to be prepared for their role in your company.
Making a sale isn’t always easy. Sales reps face challenges, and days with no sales or frustrating. Try to find out what motivates a particular sales rep and then use that as leverage to inspire them.
Sales process affects performance. Part of effective sales management is to find problems in the sales process and then find solutions. One of the best ways to do this is to ask your team members where they think there are points of friction. You can also use reports to test what works, perfecting your sales funnels over time.
The turnover of the representatives is high in the sales sector. Part of sales management is finding and hiring talented new team members.
But recruiting well can be difficult! Successful managers try to spend about an hour each day nurturing contacts with potential staff and creating leads, whether on LinkedIn, Indeed, or another platform. They try, where possible, to have a pipeline of people ready to join the team if another member leaves.
Coaching and tutoring your team
Not every member of your sales team has the skills to do the job right from day one. What makes a great sales manager is someone who can follow team members before they become a problem. For example, this process might include components such as listening to calls from salespeople or joining them for customer meetings and then talking to them after the meeting about what they think went well or could be useful for.
Sales management is also about reporting – digging into the performance numbers to find areas that need improvement. You will often find that you have some performers alongside a group of employees who are lowering the team average. Your job is to find ways to incentivize.
Sales managers also need to track the progress their team makes over time to make sure they’re not falling back. It is vital to identify trends in advance to ensure standards don’t slip away and team members don’t miss out on sales opportunities.
Cloud-based platforms are useful for taking quick action can also change and improve your productivity. A Cloud CRM not only allows your team to solve problems on their own, but allows you to save time that you can reallocate to other activities.
Sales Management Software
Sales management software can:
- Optimize sales processes through automation, called workflows
- Manage your contacts
- Improve quality lead generation
- Prepare offers
- Revenue forecast
- Improve organizational performance and economic results
The main benefit of using sales management software is to reduce the time spent on repetitive tasks and improve the visibility of the sales pipeline.
Customer Relationship Management (or CRM) is building relationships with potential and existing customers. CRM software are specialized tools that help sales processes, personalize customer service and increase performance.