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Retail Management-Sales Management

business
Course

Business tax (BSAC 242)

29 Documents
Students shared 29 documents in this course
Academic year: 2020/2021
Uploaded by:
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This document has been uploaded by a student, just like you, who decided to remain anonymous.
The Philippine Women's University

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Retail Management: Sales Management Sales management is the management of activities and processes relating to the effective planning, coordination, implementation, control, and evaluation of an organization's sales performance. Sales management is a core business process in most organizations. A role in sales management is typically a sales manager whose job plays a vital role in a company’s revenue generation and profits.

Effective sales management requires a thorough understanding of the sales process and how different techniques can be used to drive sales. By carefully analyzing key performance indicators (KPIs), optimizing your selling approach, and enhancing your team with the right competencies and tools to succeed, you can turn your sales department into a profit-generating department.

There are different types of sales management, and each type of sale involves different skills and activities. (1) B2C sales management: Business-to-consumer (B2C) sales involve selling goods and services directly to consumers. B2C sales often drive leads from aggressive marketing strategies. (2) B2B sales management: Business-to-business (B2B) sales involve selling goods and services directly to other businesses. B2B sales tend to involve higher value products with longer sales cycles. (3) Enterprise sales management: Enterprise sales involve selling complex goods or services directly to large companies. Companies that sell enterprise solutions may have multiple teams for different aspects of the sale, such as sales engineers and inside and outside sales teams. (4) SaaS sales management: Software as a service (SaaS) companies sell software or applications over the web, usually by subscription. SaaS products are often sold by an inside team who contacts potential customers by phone or email and close the deal remotely.

Furthermore, sales management requires various responsibilities. As a sales manager, you’re responsible for the sales team's success. You’ll perform different tasks, including: Recruiting. You’re in charge of hiring and onboarding new salespeople as your team grows; Training. You’re responsible for ensuring your salespeople deliver the best possible customer experience and meet their sales targets. This means identifying training gaps, modeling good sales behaviors, training, coaching, and mentoring; Shadowing. To get to know your salespeople and their interactions with customers, you need to be out in the field with them, on calls, and know how their behaviors map onto their results on key performance indicators (KPIs); Meetings and aligning teams with objectives. As a sales manager, you’ll facilitate communication between your sales team, support teams, and executive leadership. You’ll also set objectives and key results (KPIs), for the sales team and ensure goals are communicated clearly and

hit regularly; Forecasting and reporting. You need to report on sales performance while keeping an eye on long-term growth projections—both can inform strategic decisions about the future direction of your team and your company; and KPI management. You need to get your entire team aligned around key metrics so they know what day-to-day expectations are—and what it takes to succeed over time. You’ll break goals down into key performance indicators and KPIs into model behaviors that lead to success.

Additionally, a sales manager possesses different styles. Some of them are: Directive. The directive style is a management style that focuses on giving orders, assigning tasks, and strictly monitoring the sales team's progress. It can prove effective when you set clear expectations. It can also create a rigid environment, so you must encourage creativity and critical thinking. The military uses directive management; Participative. The participative style of management is the opposite of the directive style. As a participative sales manager, you’re collaborative, focusing on achieving consensus and involving the entire team in decision-making. This encourages engagement and improves morale, but you must ensure that decision-making remains fast and that you clarify roles and responsibilities; Coaching. Coaching managers support their sales team members through every step, from prospecting to closing deals. You’ll work hard to understand each rep's strengths and weaknesses so that you can provide individual support and guidance to each salesperson; and Supportive. A supportive manager is always there for their team members, offering advice and encouragement. As a supportive manager, you’re approachable, relatable, and friendly. If you adopt this style, you’ll need to ensure everyone is accountable for their performance and expectations are clearly defined.

In a nutshell, sales management is the process of leading, motivating, and influencing people to achieve sales objectives. The sales manager manages the entire sales cycle, including forecasting and budgeting sales revenue, recruitment, selection of sales personnel, and ensuring proper training and performance evaluations are conducted.

Reference: Coursera. (2023). What Is Sales Management: Definition, Scope, Objectives, Careers. Coursera. coursera/articles/sales-management

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Retail Management-Sales Management

Course: Business tax (BSAC 242)

29 Documents
Students shared 29 documents in this course

University: The Philippine Women's University

Was this document helpful?
Retail Management: Sales Management
Sales management is the management of activities and processes relating to the effective
planning, coordination, implementation, control, and evaluation of an organization's sales performance.
Sales management is a core business process in most organizations. A role in sales management is
typically a sales manager whose job plays a vital role in a company’s revenue generation and profits.
Effective sales management requires a thorough understanding of the sales process and how
different techniques can be used to drive sales. By carefully analyzing key performance indicators (KPIs),
optimizing your selling approach, and enhancing your team with the right competencies and tools to
succeed, you can turn your sales department into a profit-generating department.
There are different types of sales management, and each type of sale involves different skills and
activities. (1) B2C sales management: Business-to-consumer (B2C) sales involve selling goods and
services directly to consumers. B2C sales often drive leads from aggressive marketing strategies. (2) B2B
sales management: Business-to-business (B2B) sales involve selling goods and services directly to other
businesses. B2B sales tend to involve higher value products with longer sales cycles. (3) Enterprise sales
management: Enterprise sales involve selling complex goods or services directly to large companies.
Companies that sell enterprise solutions may have multiple teams for different aspects of the sale, such
as sales engineers and inside and outside sales teams. (4) SaaS sales management: Software as a service
(SaaS) companies sell software or applications over the web, usually by subscription. SaaS products are
often sold by an inside team who contacts potential customers by phone or email and close the deal
remotely.
Furthermore, sales management requires various responsibilities. As a sales manager, you’re
responsible for the sales team's success. You’ll perform different tasks, including: Recruiting. You’re in
charge of hiring and onboarding new salespeople as your team grows; Training. You’re responsible for
ensuring your salespeople deliver the best possible customer experience and meet their sales targets.
This means identifying training gaps, modeling good sales behaviors, training, coaching, and mentoring;
Shadowing. To get to know your salespeople and their interactions with customers, you need to be out
in the field with them, on calls, and know how their behaviors map onto their results on key
performance indicators (KPIs); Meetings and aligning teams with objectives. As a sales manager, you’ll
facilitate communication between your sales team, support teams, and executive leadership. You’ll also
set objectives and key results (KPIs), for the sales team and ensure goals are communicated clearly and

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