In several industries, sales is one of their core priorities, especially for fast-paced conglomerates and corporations. They focus more on beefing up marketing activities and boosting up the sales with the right tools and knowledge as they face clients and other stakeholders. This is why the sales force is very important because they make sure that the company lands at the right place every business review
As we move forward in identifying sales tactics, there are 3 effective and proven ways to manage the sales team effectively to achieve their quota or sales goals:
Setting-up Realistic Targets
Overpromising targets may be draining and stressful, under-declaring is somehow unacceptable as it may cause complacency. Usual sales performances tend to be based on transaction and industry behavior. Some of the FMCG companies incline in making sure they hit the target. If they over deliver, it may bring the idea to their investors that they might not be stable at a certain stock level from their growth performance. If they under deliver, it also reflects underperforming of sales and the total company.
To augment lapses in hitting good sales performance, we have to make sure we consider three things – sales performance history, possible one-off demands, and industry or category trend. We have to perfect the forecasting before we proceed in cascading targets. There are chances that some forecasting practices becomes conservative as they also manage company resources and manpower’s time.
Upgrade Your Customers
Common mistakes of a salesperson is just focusing what to sell. They focus more on volume and value of a specific product that they need to push to their customer. However, this tactic isn’t really being helpful for both customer and their business. It only gives the customer routinary products and eventually can be a reason why their customer would think of trying other suppliers or alternative products.
Routinary selling won’t be an effective way to sell more. If we want to sell more, tell more. You may opt to consumer upselling or cross-selling. Upselling is the process where you emphasize the need of having more than ever or just settling in the status quo. Meanwhile, cross-selling is somehow the same. What’s the only difference is you present other alternatives to consumer buying by your customer. This way, they may realize some things they might be missing out in trying.
Sales Incentives & Rewards
Monetary incentives may become statutory or mandatory for some cases. It became a staple and a need rather than perceived as a reward. Sales reward in a form of any money can become also an expense in the eye of the business. It can cause too much stretch in incentives and rewards – it becomes a liability to the company. This practice has to be changed for the better as the company grows. The company needs a more stable and effective practice in rewarding salespeople.
In the Philippines, common practice in recognizing good performance is through vouchers or gift certificates. Instead of utilizing money as an incentive, they use these items as it may use solely for gifting purposes. They can only buy things for themselves or for their family. It cannot be exchanged for any utility or phone bills, nor as a payment for any illegitimate businesses.
Sodexo Premium Pass is one of the common brands that is being circulated for sales performance awards purposes. They use this to make sure the receiver would buy something for themselves and not for other bills payment. In this way, a recognition made easy and very memorable to the receiver. It can also give the receiver an autonomy to buy whatever reward they think they deserve to receive for a job well done.