lOMoARcPSD|44532475
D099 Sales Management
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Notes for OA Successhttps://www.stuvia.com/user/filwe1099salmin
https://www.stuvia.com/user/filwe1099salmin
Notes for D099 - Sales Management
1. Introduction to Sales Management
- Sales management oversees hiring, training, and directing a sales team.
- Focuses on increasing revenue through strategy and planning.
2. Sales Strategies
- Transactional Selling - Quick, one-time sales.
- Relationship Selling - Builds long-term customer connections.
- Solution Selling - Focuses on customer needs and tailored solutions.
- Consultative Selling - Sales rep acts as a trusted advisor.
3. Sales Planning Process
- Market Research - Understand customer needs.
- Target Market Selection - Identify ideal customers.
- Sales Forecasting - Predict future sales trends.
- Budget Allocation - Assign resources effectively.
- Performance Tracking - Adjust strategies based on results.
4. Sales Team Management
- Key Skills for Sales Reps: Communication, negotiation, resilience.
- Training Methods: Role-playing, shadowing, online courses.
- Compensation Plans: Salary, commission, or a mix of both.
5. Key Sales Metrics
- Sales Revenue - Total earnings from sales.
- Conversion Rate - Percentage of leads that turn into customers.
- Customer Acquisition Cost (CAC) - Cost to gain a new customer.
- Customer Lifetime Value (CLV) - Revenue expected from a customer over time.
6. Closing Deals & Negotiation
- Active Listening - Understand customer needs.
- Objection Handling - Address concerns effectively.
- Closing Techniques:
- - Assumptive Close - Act as if the deal is already done.
- - Urgency Close - Use time-limited offers.
- - Summary Close - Recap key benefits before finalizing.
https://www.stuvia.com/user/filwe1099salmin
https://www.stuvia.com/user/filwe1099salmin
Downloaded by madiba South Africa stuvia ()
D099 Sales Management
https://www.stuvia.com/user/filwe1099salmin
Notes for OA Successhttps://www.stuvia.com/user/filwe1099salmin
https://www.stuvia.com/user/filwe1099salmin
Notes for D099 - Sales Management
1. Introduction to Sales Management
- Sales management oversees hiring, training, and directing a sales team.
- Focuses on increasing revenue through strategy and planning.
2. Sales Strategies
- Transactional Selling - Quick, one-time sales.
- Relationship Selling - Builds long-term customer connections.
- Solution Selling - Focuses on customer needs and tailored solutions.
- Consultative Selling - Sales rep acts as a trusted advisor.
3. Sales Planning Process
- Market Research - Understand customer needs.
- Target Market Selection - Identify ideal customers.
- Sales Forecasting - Predict future sales trends.
- Budget Allocation - Assign resources effectively.
- Performance Tracking - Adjust strategies based on results.
4. Sales Team Management
- Key Skills for Sales Reps: Communication, negotiation, resilience.
- Training Methods: Role-playing, shadowing, online courses.
- Compensation Plans: Salary, commission, or a mix of both.
5. Key Sales Metrics
- Sales Revenue - Total earnings from sales.
- Conversion Rate - Percentage of leads that turn into customers.
- Customer Acquisition Cost (CAC) - Cost to gain a new customer.
- Customer Lifetime Value (CLV) - Revenue expected from a customer over time.
6. Closing Deals & Negotiation
- Active Listening - Understand customer needs.
- Objection Handling - Address concerns effectively.
- Closing Techniques:
- - Assumptive Close - Act as if the deal is already done.
- - Urgency Close - Use time-limited offers.
- - Summary Close - Recap key benefits before finalizing.
https://www.stuvia.com/user/filwe1099salmin
https://www.stuvia.com/user/filwe1099salmin
Downloaded by madiba South Africa stuvia ()
