MP4 version: https://youtu.be/8MD0bTouFZo The Cornerstones of a Successful Sales Management Process: 1. Sales plan formulation: • Sales strategy (per segment - industry, product, territory) • Setting profit-based sales targets, quotas, sales forecasting. • Demand management, and the writing and execution of a sales plan. 2. Sales plan implementation: • Sales force recruitment and selection (profiling) - recruiting the right people (appropriate profile) to help sell the company’s product. • Sales force training - continuous training on the various products a company offers. It covers things like how hard to sell a customer or more laid back type of selling. • Sales force motivation and compensation - clear job description, effective sales practices, they have personal need for achievement, right incentives or rewards are in place (performance accelerators and boosters). 3. Evaluation and control of the sales force: • Quantitative assessment - input (sales calls, selling expenses) vs. output objectives (meeting sales quota). The sales reporting includes the key performance indicators of the sales force. The Key Performance Indicators indicate whether or not the sales process is being operated effectively and achieves the results as set forth in sales planning. It should enable the sales managers to take timely corrective action deviate from projected values. It also allows senior management to evaluate the sales manager. More "results-related" than "process-related" are information regarding the sales funnel and the hit rate (conversion). Sales reporting can provide metrics for sales management compensation. Rewarding the best managers without accurate and reliable sales reports is not objective. • Behavioral evaluation - attitude, attention to the customer, selling skills, communication encompasses a good evaluation. 4. Salesforce automation and customer relationship management: • Sales force computerization - use of technology to make sales functions more effective and efficient. • Omnichannel customer communication.