5 min read
The art of meeting sales targets effectively and efficiently through scrupulous planning refers to sales management. Improving your sales management process is the most crucial step for any organization. Sales management strategies increase rep satisfaction, reduce sales attrition, improve performances and help in the growth of a company's revenue.
It’s not an easy task, so let's go through some effective sales management strategies you can adopt to win at sales and propel your company forward:
Setting proper attainable goals is an art. A fine balance should be maintained while setting goals. They should be ambitious but at the same time achievable so that your reps do not miss their quotas and feel demotivated. By setting goals that are attainable, realistic, specific, and time-oriented you’ll have more success managing your sales team.
One-on-one meetings and coaching are the secret weapons for your team to be more confident, productive, and more skilled at sales. It is seen that companies who provide coaching to their team have seen an approx 16.7% growth in their annual sales. One-on-one setups allow you to build a solid relationship with your team members, understand their strengths and weaknesses and accordingly align objectives for them to achieve. This helps prepare your reps to handle difficult situations better.
According to research, 65% of employees have admitted they wish they get feedback from their managers more often. One-on-one meetings are the ideal time to deliver feedback to your reps. Just make sure your feedback is constructive, detailed, and encouraging. As long as you are delivering constructive criticism, it will help your reps to close deals more effectively.
Make continued learning a priority in your organizations’ culture. If you train your reps only during the onboarding process, you are not doing sales management the right way. It is significant to emphasize and invest in ongoing training and professional sales development. This will help them keep new information fresh in their minds so they can give their best performance and stay ahead of the competition.
Celebrating and rewarding wins creates motivation and a little motivation goes a long way. Many sales managers do not celebrate their teams’ success leading to its negative effects. It can yield major benefits like job satisfaction, reduced sales attrition, and more productivity. From a survey conducted in the U.S., it was found that 78% of employees said being recognized motivates them in their job.
Apart from recognizing wins and celebrating success, another important sales strategy is you should identify the reason behind your success. Take some time to sit down with your sales team and ask them what they feel went well in the sale and how did the sales process turn out to be a success. Make a note of the successful strategies and suggestions from your team and implement them into future sales processes.
Thanks to the constantly evolving technology even sales processes can be automated, thus making the process seamless and more efficient. The best example of this is cloud-based MBO Manager. The key is to utilize technology to ensure your team continues to be efficient. Technology allows your salespeople to multi-task, work effortlessly, and easily keep track of clients.
Your sales team might be struggling with some roadblocks that prevent them from reaching their goals. Fear of rejection, lack of social media marketing skills, lack of confidence, poor communication might be few barriers holding them back. It is your job to identify these barriers and help your reps overcome them by using organizational help to develop capabilities. Work with your sales reps closely to change their perspective on rejection and break through these barriers.
Salespeople want to make money. There are many different ways to compensate your reps. The key is finding the right payout structure for your organization. There is no one size fits all approach to this. Choose a plan for your team that will want them to put in extra effort. Compare and study various structures and choose a plan that best fits your company’s needs.
In Closing Sales management is a difficult task but better organization and strategies can help you get better outcomes. By taking some time out to plan and implement the above-mentioned sales management strategies that make sense for your organization, you will definitely start to see a noticeable and appreciable improvement in your sales team. With the right combination of planning, metrics, organizing, and sales culture, watch your and your team’s success soar.
And make sure you invest in a proper sales management platform! In case you have any queries or doubts regarding which solution is right for your company, you can contact us at firstname.lastname@example.org.
Sujeet, an aerospace engineer from IIT Bombay, has over a decade of experience in managing Sales Compensation processes and analytics for various clients including Fortune 500 companies. He also has more than a decade long experience innovating with new-age technologies and developing complex enterprise systems and solutions.
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