The term advertising originates from the Latin word ‘adverto’ means to turn around. Thus advertising denotes the means employed to draw attention of any object or purpose. Like we show big hoardings of blinds, vertical binds and roller shades on cross roads, bridge corners etc. Sometimes good TV Serials are sponsored by Term Life Insurance Rates Company.
Definition: Advertising is any paid form of non-personal representation and promotion of ideas, goods or services by an identified sponsor. Advertisers include not only business firms, but also museums, charitable organizations, and government agencies that direct messages to Publics.
How advertising works requires a definition of what advertising is.
One definition of advertising is: “Advertising is the non-personal communication of information usually paid for and usually persuasive in nature about products, services or ideas by identified sponsors through the various media. For example, some times we see sports events are sponsored which is part of advertising. A football match in California is sponsored by premierinns who is having motels in California. Another example is a technology event is sponsored by insurance software company who are making insurance crm and sfa.
Non-Personal
First, what is “non-personal”? There are two basic ways to sell anything: personally and non-personal. Personal selling requires the seller and the buyer to get together. There are advantages and disadvantages to this. The first advantage is time: the seller has time to discuss in detail everything about the product. The buyer has time to ask questions, get answers, and examine evidence for or against purchase.
Showing posts with label Insurance SFA. Show all posts
Showing posts with label Insurance SFA. Show all posts
Friday, January 9, 2009
Tuesday, December 30, 2008
Sales Organization
Definition of Sales Organization
The value-based orientation and set-up of sales channels and management structures is a central part of sales control. In the past, having an extensive agency network was a central success factor. In the future, the focus is more likely to be on networking of various sales channels (key word: multi-channel). This will mean numerous changes, for example in the supply of the necessary information, in the management of sales channels, and also in the creation of customer-friendly product bundles. Integrated reconciliation of sales activities and avoidance of channel conflicts will be of great importance.
Building the sales organization
The sales department in any organization occupies strategic position. Of all company personnel, those in the sales department are in the closest touch with final buyers and middlemen. Sales department personnel also work closely with such key publics as the industry, the government, the educational world and the press. How these representatives of the sales department conduct themselves with the public affects the company’s reputation. Good relations depend in larger measure upon the skill with which personnel selling programs are planned and executed, thus building an good sales organization plays a very important role in maintaining above said relations and promote the sales.
The value-based orientation and set-up of sales channels and management structures is a central part of sales control. In the past, having an extensive agency network was a central success factor. In the future, the focus is more likely to be on networking of various sales channels (key word: multi-channel). This will mean numerous changes, for example in the supply of the necessary information, in the management of sales channels, and also in the creation of customer-friendly product bundles. Integrated reconciliation of sales activities and avoidance of channel conflicts will be of great importance.
Building the sales organization
The sales department in any organization occupies strategic position. Of all company personnel, those in the sales department are in the closest touch with final buyers and middlemen. Sales department personnel also work closely with such key publics as the industry, the government, the educational world and the press. How these representatives of the sales department conduct themselves with the public affects the company’s reputation. Good relations depend in larger measure upon the skill with which personnel selling programs are planned and executed, thus building an good sales organization plays a very important role in maintaining above said relations and promote the sales.
Thursday, December 25, 2008
Growth and Development
Ensuring growth and developing new accounts
Sales organization plays important role not selling to the existing customers and the same number of units all the time, it is very important to maintain growth in the quantity of sales through identifying new markets and the new customers. In term life insurance business, adding new clients, they can sell new policies and by that business can grow and get developed. So, for term life insurance company identifying new segment of markets and by that adding more and more new customers is always on priority list.
Sales communication and reporting
Sales management is carried out largely through communication-either it is oral or written or both. The communication in the sales department is two way process. The sales manager lets his men know what they are expected to achieve, how they are performing, how they can improve and perform better. He also keep them informed of what is happening in the company related to the, products, production, distribution, promotion and profitability. Insurance SFA software helps term life insurance agents to keep and maintain two way sales communication and sales reporting.
The salesman in turn keep the sales manager informed of what is happening in the market and how the sales and marketing programs of the firm are progressing. In the field’s sales situation, communication cannot be always face-to-face as in factory or in office situation. A Local installer for blinds and roller shades company play important role for two way sales communication. He let customer know about the company products and policies at the same time he update company about the feedback from the customer. Sales persons work independently and always from the office.
Sales organization plays important role not selling to the existing customers and the same number of units all the time, it is very important to maintain growth in the quantity of sales through identifying new markets and the new customers. In term life insurance business, adding new clients, they can sell new policies and by that business can grow and get developed. So, for term life insurance company identifying new segment of markets and by that adding more and more new customers is always on priority list.
Sales communication and reporting
Sales management is carried out largely through communication-either it is oral or written or both. The communication in the sales department is two way process. The sales manager lets his men know what they are expected to achieve, how they are performing, how they can improve and perform better. He also keep them informed of what is happening in the company related to the, products, production, distribution, promotion and profitability. Insurance SFA software helps term life insurance agents to keep and maintain two way sales communication and sales reporting.
The salesman in turn keep the sales manager informed of what is happening in the market and how the sales and marketing programs of the firm are progressing. In the field’s sales situation, communication cannot be always face-to-face as in factory or in office situation. A Local installer for blinds and roller shades company play important role for two way sales communication. He let customer know about the company products and policies at the same time he update company about the feedback from the customer. Sales persons work independently and always from the office.
Wednesday, January 23, 2008
Sales Budget - SFA
Sales Force Management (SFA) we are talking here which is a part of agency management system of business. We talk about Sales forecasting in our last talked. Today we are going to talk on Sales budget.
Sales Budget:
The sales budget is a statement of projected sales revenues and selling expenses. Agency management system needs to have a sales budget. The projected sales revenue is, in effect the sales volume objectives derived from the various sales forecasts. The projected selling expenses are determined by the different organizational units with in the sales department and are based on assigned sales and profit objectives.
The sales budget is best prepared in an atmosphere where the bottom-up planning style predominates, with each echelon preparing a tentative budget of revenue and expense.
During the period in which the budget is in effect, items in the approved budget are compared with actual sales and expenses, and action is taken to bring the two into alignment.
In reality, the sales budget is a composite of quotas for sales, profits and expenses. Budget is a valuable too for control.
ref: agency management system, Insurance SFA & CRM
Sales Budget:
The sales budget is a statement of projected sales revenues and selling expenses. Agency management system needs to have a sales budget. The projected sales revenue is, in effect the sales volume objectives derived from the various sales forecasts. The projected selling expenses are determined by the different organizational units with in the sales department and are based on assigned sales and profit objectives.
The sales budget is best prepared in an atmosphere where the bottom-up planning style predominates, with each echelon preparing a tentative budget of revenue and expense.
During the period in which the budget is in effect, items in the approved budget are compared with actual sales and expenses, and action is taken to bring the two into alignment.
In reality, the sales budget is a composite of quotas for sales, profits and expenses. Budget is a valuable too for control.
ref: agency management system, Insurance SFA & CRM
Sunday, January 20, 2008
Sales Forecasts and Sales Budgets
Sales Force Management we are talking here which is part of agency management system. We talked Sales Force Automation in past post.
Today we are going to talk Sales Forecasts and Sales Budgeting.
Sales forecasting is the estimation of future sales of a company in a given period. It indicates how much a company with a given amount of resource can sell if it implements a particular marketing program.
Methods of sales forecasting
Sales forecasting method is a procedure for estimating how much of a given product can be sold if a given marketing program is implemented. Following are the some of the methods used in forecasting.
- Jury of executive opinion
- Delphi technique
- Poll of sales force opinion
- Projection of past sales
- Time series analysis
- Exponential smoothing
- Survey of customer buying plans
- Economic model building and simulation
Friday, January 4, 2008
Sales Territory - Sales Force Management
Structuring sales force and Sales Territories we talked as part of agency management system in our past post. Sales Force Management we are talking here and as a part of that we talk Sales Force Automation .
Reasons for eastablishing Sales Territories:
Sales territories play a major role in plannig and control of sales operations. Follwing are the some of the reasons for having sales territories.
Reasons for eastablishing Sales Territories:
Sales territories play a major role in plannig and control of sales operations. Follwing are the some of the reasons for having sales territories.
- To provide proper market coverage.
- To control selling expenses.
- To assist in evaluation sales personnel.
- To contribute to sales force morale.
- To aid in the co-ordination o persnnel sllng and advertising efforts.
Steps involved in setting up sales territories:
in setting up sales territories, there are four major steps-
- Selecting a basic gegraphical control unit.
- Determining sales potential in control units.
- Combining control units into tentative territories.
- Adjusting for coverage difficulty and redistricting tentative territories.
ref: agency management software, Insurance SFA & Insurance CRM Software
Thursday, December 27, 2007
Sales Territories - SFA Software
Sales Force Management we are talking here. Agency management system include sales force management, as part of that we talk Sales Force Automation and also structuring sales force. Today we are going to talk Sales Territories.
Definition:A sales territory is a grouping of customers and prospects assigned to an individual sales person.
Definition:A sales territory is a grouping of customers and prospects assigned to an individual sales person.
In reality, sales planning are done on the basis of sales territory, depending on the characteristics of customer and prosperity vary from one sales territory to another, and some times even from one zone to another zone, or country, a territory is more homogenous unit than the market as a whole,.
Breaking down the total market into smaller units makes control of sales operations more effective. Assigning responsibility for achieving specific objectives to subordinate line executives and individual sales personnel bring selling efforts into alignment with sales opportunities. The emphasis in sales territory concept is upon customers and prospects rather than upon the area in which an individual sales person works.
Monday, December 24, 2007
Incremental Method - Sales Force Management Software
Sales Force Management we are talking here with reference to Sales Force Automation. We talked Workload Method, Sales Potential in previous posts as part of agency management system.
Today we are going to talk about Incremental Method as tool deciding the size of the sales force.
Incremental Method:
The incremental method is the best approach to determine sales force size. It is based on one proposition that net profit will increase when additional sales personnel are added if the incremental sales revenues exceed the incremental costs incurred. To apply this method as organization need two important items of information namely:
- Incremental revenue.
- Incremental costs.
Though this method is conceptually correct, it s also the most difficult to apply. It requires lot of efforts from the organization side to develop a sales response function to use in approximating market behavior in relation to alternative levels of personal selling efforts, and one need to have an efficient research and information team in the organization.
ref: sales force management software, agency management system
Thursday, December 20, 2007
Sales Potential - Sales Force Management
We are talking here Sales Force Management, as part of SFA we are going to talk today Sales Potential.
This method is based on the assumption that performance of the set of activities contained in the job description represents one sales personne unit. A particular sales person may represent eithe more or less than one sales personal unit.
If the individual's performance is excellent, that individual may do the job of more than one unit, if the individual performance is below par, he or she may do less. If management expects all company sales personnel to perform as specified in the job description, then the number of salespersons required equals the number of units of sales personnel required.
Generally it is observed sales descriptions are constructed on management's assumption that they describ what the average sales person with average performance with accomplish.
ref: SFA Software
This method is based on the assumption that performance of the set of activities contained in the job description represents one sales personne unit. A particular sales person may represent eithe more or less than one sales personal unit.
If the individual's performance is excellent, that individual may do the job of more than one unit, if the individual performance is below par, he or she may do less. If management expects all company sales personnel to perform as specified in the job description, then the number of salespersons required equals the number of units of sales personnel required.
Generally it is observed sales descriptions are constructed on management's assumption that they describ what the average sales person with average performance with accomplish.
ref: SFA Software
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