Many sales professionals often confuse between sales process management and sales management. While sales process management is the entire set of activities to materialise a sales deal, the sales management process involves all the activities relating to maintenance of organisation’s sales operations.
Sales management process involves: Call planning, prospecting, sales presentation, objection handling, negotiation and closing phase’s techniques of a sales deal.
Sales management activities involve Recruitment, Coaching, Managing performance, Decision making techniques to be used by sales professionals.
Managing performance is one of the key activities of sales management professionals and ideally 25% of time needs to be dedicated for this activity. Effective sales reporting tools need to be in place for managing performance and accountability.
Daily Sales Report
Most of the organisations maintain online or offline daily report formats (often called DSR-Daily Sales Report). This is the base of any Sales report. It should be designed scientifically to capture essential activity report of individual sales persons. It should include: planned calls for the day, appointments, and commitments of the day. It requires a daily review.
The Productivity Report
Productivity report needs to built, maintained and reviewed by managers.
The purpose of the productivity report is to keep you informed about the level of activity taking place within the sales organization and to make sure that each salesperson is meeting or exceeding the productivity standards you have established. The data often includes the number of outbound calls, conversations, voice mails, customer meetings, and sales presentations. The report should compare actual results against the benchmarks you have established for each activity.
Productivity reports should be turned in (or run) and reviewed on a weekly basis. Many managers compare the activities on the productivity report to both the phone bill and the daily call report to verify what is being reported.
The Sales Forecast
The sales forecast has multiple purposes including helping to estimate revenue, determining what opportunities need executive attention, and paving the way for post-sale product or service delivery. The accuracy of a sales forecast strongly affects the entire organization and is therefore the most important report generated. This document generally contains prospect names, sales opportunity sizes, indications of where the sales opportunities are in the sales cycle, and what the customers are buying. It is the sales representative's best estimate of which sales will close during the next 30, 60, or 90 days and, in most companies, is due at the beginning of each month with occasional revisions due mid-month if the need arises.
Each sales representative must clearly understand what criteria a potential account must meet before they are allowed to put it on the forecast, otherwise the data will be meaningless. Once an account has been placed on the sales forecast, it must not be removed without the salesperson having discussed it in detail with their manager.
Reviewing these reports is time consuming. But keep on top of them. If the sales staffs suspect that you don't review the reports, they will make a token effort at writing them and you will start to lose touch with the sales organization. Remember the old adage "inspect what you expect." By setting goals and letting your salespeople know you are committed to tracking progress toward them, you will vastly increase the performance and predictability of your business.
Sales management process involves: Call planning, prospecting, sales presentation, objection handling, negotiation and closing phase’s techniques of a sales deal.
Sales management activities involve Recruitment, Coaching, Managing performance, Decision making techniques to be used by sales professionals.
Managing performance is one of the key activities of sales management professionals and ideally 25% of time needs to be dedicated for this activity. Effective sales reporting tools need to be in place for managing performance and accountability.
Daily Sales Report
Most of the organisations maintain online or offline daily report formats (often called DSR-Daily Sales Report). This is the base of any Sales report. It should be designed scientifically to capture essential activity report of individual sales persons. It should include: planned calls for the day, appointments, and commitments of the day. It requires a daily review.
The Productivity Report
Productivity report needs to built, maintained and reviewed by managers.
The purpose of the productivity report is to keep you informed about the level of activity taking place within the sales organization and to make sure that each salesperson is meeting or exceeding the productivity standards you have established. The data often includes the number of outbound calls, conversations, voice mails, customer meetings, and sales presentations. The report should compare actual results against the benchmarks you have established for each activity.
Productivity reports should be turned in (or run) and reviewed on a weekly basis. Many managers compare the activities on the productivity report to both the phone bill and the daily call report to verify what is being reported.
The Sales Forecast
The sales forecast has multiple purposes including helping to estimate revenue, determining what opportunities need executive attention, and paving the way for post-sale product or service delivery. The accuracy of a sales forecast strongly affects the entire organization and is therefore the most important report generated. This document generally contains prospect names, sales opportunity sizes, indications of where the sales opportunities are in the sales cycle, and what the customers are buying. It is the sales representative's best estimate of which sales will close during the next 30, 60, or 90 days and, in most companies, is due at the beginning of each month with occasional revisions due mid-month if the need arises.
Each sales representative must clearly understand what criteria a potential account must meet before they are allowed to put it on the forecast, otherwise the data will be meaningless. Once an account has been placed on the sales forecast, it must not be removed without the salesperson having discussed it in detail with their manager.
Reviewing these reports is time consuming. But keep on top of them. If the sales staffs suspect that you don't review the reports, they will make a token effort at writing them and you will start to lose touch with the sales organization. Remember the old adage "inspect what you expect." By setting goals and letting your salespeople know you are committed to tracking progress toward them, you will vastly increase the performance and predictability of your business.
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