Sales Management Process
Building a sales management process that creates a culture of hard work and accountability, while maintaining a positive working environment, is as much an art as it is a science. A sales management process allows greater awareness of potential business opportunities. Understanding the sales management process, documenting and executing it effectively separates the merely average companies from those that exceed their corporate revenue goals.
In the past, mediocre training, focus and accountability were sufficient. Clients were plentiful and companies did not tinker with their management systems since they were achieving satisfactory financial results. Times have changed and businesses are facing reduced profits and greater competition, forcing the companies to focus on how their businesses are run.
The sales management process is required to effectively manage executive-level sales initiatives and reduce sales cycle times. An effective, relationship-based sales management process empowers the advisor to effectively identify solutions that meet client needs, to close the sale, and book the business.
The sales management process improves productivity, offers new opportunities for clients, and proactively seeks client referrals from internal and external sources, following up all client requests and thus building client retention and loyalty. Typically, the sales management process increases sales productivity 25-50% and revenues 20-40%.
With better sales management come better results. A unified sales management process:
- Develops accountability and resolves problems such as lack of oversight
- Increases focus on the client
- Aligns firm-wide activities by breaking down barriers and building relationships between employees, and
- Captures opportunities that might otherwise be lost and increases the competitive advantage.
Those who master the art and science of sales management will own that elusive “differentiator” that so many companies are desperately searching for. Presently, the field is wide open, and tomorrow’s winners will be the trailblazers who make sales management a top priority today.
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