Sales Management is a small but important business discipline that is focused primarily on the efficient management of a company’s sales activities and the logical application of core sales principles. As the world of sales changes and interests change, the role of the sales manager in keeping the organization on target with its marketing strategy and planning has become more important than ever. It is also an important business function since retail web sales through the internet lead to substantial profit drive, especially in today’s consumer-oriented business environment. The advancement of technologies and broader markets has also created a significant need for managers who understand how to manage these changing markets. Sales management today is a science that involves managing the whole sales process including gathering information, analyzing data, organizing and utilizing it in a way that leads to a favorable result, monitoring performance, and taking actions in line with those results.
One of the primary functions of a sales manager must be to develop a plan, setting goals, developing staff and resources, implementing strategies, monitoring performance and evaluating results. With all this responsibility, there is an added need to have an overview of the situation at hand and to be able to forecast future sales activities and performance. The key to all this is the proper analysis and evaluation of sales activities, both in terms of the sales team and the sales manager himself/herself. It is not enough that a manager’s strategies work; he must also be able to understand the reasons why these strategies are being followed. A manager must be proactive in making adjustments to sales policies, procedures or training, and must ensure that these are in line with the company’s objectives.
The term’sales management refers to the overall management of the sales team, including the execution of the strategy set out by the manager. To achieve success in sales management, a group of people must be organized, motivated, and accountable for achieving the set goals. This group needs to be committed to the achievement of its set goals, taking the initiative in taking responsibility for their own performances and failures. Its members should also be capable of accepting criticism and constructive criticism and should be able to modify their behavior to meet any change in circumstances.
The main role of sales management is to lead and control the sales force. Its prime responsibility is to define the products, services, and financial programs that will be sold in order to reach the market and achieve the company’s sales targets. Sales managers are also expected to keep the motivation of their sales teams by giving them realistic goals and realistic time deadlines. By doing this, they ensure the efficiency of the sales operation.
Sales management helps achieve a positive revenue cycle, which means the revenue generated in each sales cycle is at its maximum. This revenue cycle is important for the company to survive and thrive as it generates the maximum profit. However, revenue generation can also be a very difficult thing to achieve, especially for newer companies. For such companies, the sales management strategy should include a good revenue cycle to ensure both the company’s and its partners’ survival and profitability. A very effective sales management strategy should be able to help achieve the company’s revenue goals.
In addition to leading and managing the sales force, the sales manager should also have effective communication with the sales organization. Effective communication enables the two parties to work together in achieving the company’s sales goals. Sales management also contributes to the organization’s organizational structure by developing and maintaining relationships with the different parts of the organization. These relationships enable the company to achieve its sales goals as well as the success of its partners.