Emerging Trends in Sales Management

RESEARCH PAPER PRESENTED ON EMERGING TRENDS IN SALES MANAGEMENT

SUBMITTED BY:MD.ABDUL QUADIR

TO MANISHA LANDE MAM

Abstract From the global economy to technology, individuals and organizations are mindful of them. Surprisingly, there is very little written of emerging trends in the sales profession. New issues await today’s professional. These trends require flexibility, tenacity, and the opportunity to educate ourselves in a variety of disciplines.

Managing a sales force involves recruiting, hiring, training, supervising, compensating salespeople, motivating them to become problem solvers, and providing the proper planning and backup support so they can perform their jobs properly. The future of selling requires changes to keep pace with generational and cultural shifts that create behavioral changes in decisions. The selling representative of tomorrow must work efficiently and quickly to maintain the pace. Failure of change leads to competitive elimination.

OBJECTIVES OF RESERCH PAPER • •

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To identify the present scenario in sales Management. To analyze the emerging trends Globally. To justify how it’s being a matter of great importance for different players.

KEY WORDS •

Sales Management trends

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Objectives

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Changing of culture and technology.

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Adopting strategies of competitors

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Faster Services

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Nokia Case study

HYPOTHESIS • •

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Examine the recent trends in sales management. Sales Management helps to study the recent changes occurred during the process of managing sales. To measure the efficiency in sales management.

INTRODUCTION “I don’t care how many degrees you have on the wall, If you don’t know how to sell, you’re probably going to starve.” From the global economy to technology, individuals and organizations are mindful of them. Surprisingly, there is very little written of emerging trends in the sales profession. We believe that selling is a profession, possibly an industry nothing happens in any business without a sale! Professional sales training is now required, as is the need for useful technology that creates efficiency with customer relationships. However, the world’s challenges are changing the manner of selling. New issues await today’s professional. These trends require flexibility, tenacity, and the opportunity to educate ourselves in a variety of disciplines.

Definitions:Sales Management- is the attainment of sales force goals in an effective and efficient manner through planning, staffing, training, leading, and controlling organizational resources (Futrell1998) Managing a sales force involves recruiting, hiring, training, supervising, compensating salespeople, motivating them to become problem solvers, and providing the proper planning and backup support so they can perform their jobs properly. “…….the planning, direction, and control of personal selling, including recruiting, selecting, equipping, assigning, routing, supervising, paying and motivating as these tasks apply to the personal sales force.” By AMA (American Marketing Association)

SALES MANAGEMENT TRENDS From

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Objectives of Sales Management

• High total sales • Contribution to profits • Customer satisfaction • Long term selling capability

Changing of Culture

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Selling professionals are experiencing a cultural shift in their respective account bases. It is vital for all selling professionals to think globally and act locally. The current economy is morphing faster than in the days of both immigration and the Industrial Revolution. Selling representatives must be cautious about words, dress, linguistics, and even electronic communication. Anything said or written can be misinterpreted. The 500 most commonly used words in the English language have over 14,000 definitions. Tomorrow is selling professionals must begin the study of international cultures and languages. The acquired knowledge assists professionals to communicate articulately with global clients, which provides better relationships. Gaining a better understanding of business etiquette, linguistics, mannerisms, and culture enables selling professionals to diminish barriers and gain better insight into client issues. Moreover, the ability to engage cross-culturally enables selling professionals to competition-proof their capabilities.

Changing of Technology •

Many years ago computers were bulky, rare, and performed minimal functions. Then as now, computer operation required data. However, as computer software developed, spreadsheets enabled end users to take data and gain useful information such as buying patterns and favored products. Yet, with the emergence of smarter technology, usefulness of the Internet, and spontaneity of access, stored information morphs into knowledge. In today’s selling world content is king. Selling professionals require a wealth of knowledge to remain competitive. Tomorrow is selling professional requires better insight into the customer is world. Professionals must study competitors, the industry, and the client to help determine future needs. Using knowledge to help the customer remain competitive and offer provocative insights provides value and partnership. Customers engage with those they trust. For years customer relationship management was paramount to organizational success. Customer relationship management is an information industry term for software, and usually Internet capabilities, that selling professionals and their organizations use to manage customer relationships. Databases, Windows-based software, and Internet applications all assist with maintaining client contact. However, while development has created wealth for software applications, it has done little for client relationships. Selling is a relationship business. Individuals want to conduct business with those they trust. Picking up the phone is more meaningful than sending an email and the more direct contact the better²people are not that busy. In an increasingly competitive market, having direct contact will actually deflect competitive forces.

Adopting strategies of competitors •

In a recent research survey of over 400 sales managers, 87% admitted their professionals were too tactical. Selling professionals by nature are tactical. Yet, tactics are not the best use of time and resources. The new era requires that selling professionals become more strategic in their account management and account planning. The research professional of tomorrow requires a tenacious desire for research. Sellers will require comprehension of competitive forces, industry demographics, and changing political and economic areas as well as technological changes. Rather than simply selling vertical products and services, future account management requires applying the value proposition to the enterprise. A prevalent component of any business is strategy. Many organizations do not implement strategy correctly; leaders either look too far into the future or they fail to see into the current organizational culture. Strategy is needed for any business, from the smallest to the largest. However, important as strategy is, it cannot exist without having driving force. Every selling organization will need to strategize and determine their driving force. Clients require new methods of service and support. Moreover, the need for proximity and speed of service will require representatives to be more responsive. More important, managing account in silos and placing numerous impediments that create intra-selling competition hurts client relationships and destroys margins.

Faster Services •

Peter Drucker once stated that an organization exists for one reason: the customer. Unfortunately, the wrestlers of Wall Street persuade many firms to focus on irrelevant profits. Future organizations require more suitable strategic methods and driving force. Fortifying organizational strategy requires sagacious attention to customers. Similar to sales, customers are the lifeblood of every organization. Competitive differentiation stems from the perceived customer value. Customers desire to be with those they trust; this is the key differentiator in a marketplace cluttered with vendors. Appreciation from your greatest asset takes no time and little investment, and pays a huge return. Customer service extends internally and externally and relies on people, processes, and physical evidence. Selling professionals and peers will need to employ a true customer orientation, from answering telephones to returning phone calls. Procrastination and avoidance will be grounds for termination as organizations attempt closeness with customers. Also, processes must be efficient and client-friendly. Lengthy forms and waiting times only add frustration. Tomorrow is leaders will constantly walk the process to eliminate tardiness and frustration. Finally, customer service requires a clean act. Selling professionals will dress differently, act differently, and speak differently. Clients make decisions within the first twelve seconds. Ask what clients believe about the firm and its employees.

Talent The diminishing labour pool and the constant drive for profits disables organizations’ capability to acquire the best talent. The largest asset of any organization is talent, especially sales talent. Nothing happens in an organization without someone is selling something. With the need for selling in every business, there are fewer than a few dozen of the more than 4000 colleges and universities in the United States with an established a formal sales program. In the United States, there are only fourteen universities with professional selling programs. Of the 1.2 million sales positions available in US-based businesses, research illustrates that up to 92% of sales employees have no formal selling education. Future sales leaders will require education acquisition. Simply put, selling is a profession and must be treated as such. Future leaders must engage in the proper education to increase proficiency and effectiveness. However, training must not be event-based. The purpose for training is to decease ineffective tendencies and provide strengths. New habits manifest over months, not hours in a classroom.

NOKIA Case Study

• BL-5C batteries • Overheating initiated by a short circuit while charging and causes the battery to dislodge. • Free replacement of 46 million batteries. • Cell phone batteries were manufactured by Matsushita Battery Industrial Co., Ltd. of Japan.

The case of Nokia (battery -replacement) is very common & we can see it as an important part of Sales Management. On Aug 17 , 2007 many nokia cell phone users complaint against the Overheating initiated by a short circuit while charging and causes the battery to dislodge & as it was the matter related to sales of Nokia Cell phone in Indian Market which has very high potential of Nokia Cell phone users . Nokia planned the replacement of battery finally so that in future any of its past activity should not cause in hampering of sales. So, Nokia replaced 46 million batteries freely & due to which even today Nokia is enjoying the greater Market Share. It’s not related with Recent Trends but via this I want to cite that Sales Management not only deals in selling of goods but also managing their customer grievances & that’s the best Management according to me.

CONCLUSION In this context an effort has been made in this paper to review the emerging trends in sales Management to examine while change is good, it requires adjustment. The future of selling requires changes to keep pace with generational and cultural shifts that create behavioral changes in decisions. The selling representative of tomorrow must work efficiently and quickly to maintain the pace. Failure of change leads to competitive elimination.