Is Sales Managing you? This is a question which all of us want to overwrite with the answer “I am managing my Sales”. What is there in this function of Sales that it ends up managing you if you do not know exactly what is there in it to manage for you.
- Managing Sales Team
- Managing Sales Funnel
- Managing Sales Competition
- Managing Sales Fatigue
Managing Sales Teams
In order to manage sales teams , you must understand that attrition rates are high in sales teams and hence you must have the capability to hire quick enough and have a good “bench strength”. The team selected in sales must undergo a structured training program of induction and anything to do in sales should not be based on instincts. Making use of technology for daily reporting and BI so that you are able to lead effectively.
Managing Sales Funnel
The conversion of leads into Sales is a journey which the Sales Management has to closely monitor. The sales funnel ratio’s should be healthy and the velocity of movement of leads into sales is very much dependent on the sales manager. Inside the funnel, structured process that ensure conversion of Marketing Qualified Lead (MQL) into Sales Qualified Lead (SQL) and finally BANT (Budget, Authority, Need and Timeframe) leads. Once the leads mature into an opportunity customised proposals are given only if one is able to conduct a structured need analysis. Good proposals convert into a negotiation opportunity and finally to sales.
Managing Sales Competition
It is important to know your product mix well so that you know where you enemy can attack you first. The BCG matrix shown above will give you an idea of the “dog” and “Question mark” products.
Once you have analysed your self well, keep in mind the following sins that you can make in handling your competitors:
- Do not be the first to mention your competitors name
- Do not attack the competitors products or services
- Do not agree to a product comparison with competitor
- Do not ask as to what your customer likes about your competitor
Managing Sales Fatigue
For sure all sales managers must understand the following stress curve and deal with their sales teams accordingly.
If the Sales Manager also understands the nuances of the following root cause analysis of sales fatigue, it will serve him well.
The 5 lines of defense shown above is a checklist for all Sales Managers to ensure that sales fatigue, burnout and overdose syndrome does not spoil the effectiveness of good sales teams.
In a Nut shell
These 4 pillars of Sales Mangement summarises the challenge of Sales Management.
For more details of this topic, visit us for Sales Ki Pathshala every Wednesday from 9-10 am or email us on email@example.com