We are talking sales force automation in this blog. We talked different tools and different aspect of SFA or Insurance SFA. Today we continue our talk on personal selling objectives
1. Distribution policies (who to sell): The component policies related to distribution are:
- Channel design and channel types.
- Channel remuneration, motivation and training.
- Channel principal relations.
- Channel costs.
2. Pricing policies:
- Policy on pricing relative to the competition such as, setting the price of product to meet the competition, pricing above the competition, pricing under the competition.
- Policy on pricing relative to costs. Full cost pricing, promotion pricing, contribution pricing.
- Policy on uniformity of prices to different buyers.
- Policy on list pricing
- Policy on discounts; trade discounts, quantity discounts
Structuring the sales force
Organizations usually structure their sales force on a territory basis or on a product/product line basis. In the case of territory based structuring, the same salesman handles all the products or product lines of the firm in given territory, which will be compact. Now day’s territory basis sales are not much important for those who are doing online business. For example, a Life insurance quotes online company, who is providing Instant life insurance rates; there is no territory basis for them. They are doing business of any territory. In the case of product based structuring, several salesman of the firm operate in a given territory, each handling different products of the firm. Here the sales territories will be relatively larger. Sometimes the sales force is also structured based on customer type or customer class, in yet other case sales force is structured on a complex basis, involves a combination of the types mentioned above.
Showing posts with label Term Life Insurance. Show all posts
Showing posts with label Term Life Insurance. Show all posts
Tuesday, February 3, 2009
Personal selling objectives-2
Friday, January 16, 2009
Objectives of sales management
Today we are going to discuss on sales management objectives. Sales managers is modern organization are required to be customer-oriented and profit-directed and perform several tasks besides setting and achieving personal selling goals of the firm. From the company view point the sales management has the following three broad and important objectives namely:
· Sales volume
· Contribution to profits
· Continuing growth.
Difference between sales management, personal selling, salesmanship
Before understanding sales management thoroughly let be clear about some of the terminologies often used in sales management.
Sales management directs the personal selling efforts, which in turn is implemented largely through salesmanship. For example instant term life insurance rates company having many different life insurance quotes online options with them. Sales management directs all different marketing option to be planed and organize to achieve profits and more customers.
Personal selling is a broader concept than salesmanship, personal selling is the art of successfully persuading prospects or customers to buy a product or services from which they can derive suitable benefits, thereby increasing their total satisfaction. A window treatment company who are selling vertical blinds, roman shades and other types of blinds online, their individual agents who are selling their products to different architects and interior designer. Such sells consider as personal selling.
Salesmanship, then, is seller-initiated effort that provides prospective buyers with information and other benefits, motivating or persuading them to decide in favor of the seller’s product or service. For example in business meeting a salesman from motels in California is explain their different California motels specifications to customers. This type of selling is consider as salesmanship.
· Sales volume
· Contribution to profits
· Continuing growth.
Difference between sales management, personal selling, salesmanship
Before understanding sales management thoroughly let be clear about some of the terminologies often used in sales management.
Sales management directs the personal selling efforts, which in turn is implemented largely through salesmanship. For example instant term life insurance rates company having many different life insurance quotes online options with them. Sales management directs all different marketing option to be planed and organize to achieve profits and more customers.
Personal selling is a broader concept than salesmanship, personal selling is the art of successfully persuading prospects or customers to buy a product or services from which they can derive suitable benefits, thereby increasing their total satisfaction. A window treatment company who are selling vertical blinds, roman shades and other types of blinds online, their individual agents who are selling their products to different architects and interior designer. Such sells consider as personal selling.
Salesmanship, then, is seller-initiated effort that provides prospective buyers with information and other benefits, motivating or persuading them to decide in favor of the seller’s product or service. For example in business meeting a salesman from motels in California is explain their different California motels specifications to customers. This type of selling is consider as salesmanship.
Friday, January 2, 2009
Sales promotion
As a part our talk on Sales force management we have already talked on so many important factors of the sales force management like sales training, sales development, sales methods, sales types, sales organizations, sales reports etc…. today we are going to discuss one more important factor of sales force management and which is Sales Promotion. For any business sales promotion is the most crucial planning and organizing part of their sale policies.
Co-ordinating the activities of all departments so that maximum progress is made toward overall company objectives is top management’s responsibility. Department heads, in addition to implementing top management’s directives, harmonize their activities so that the tasks of all departments are accomplished effectively. Each understands the functions of other departments and, each is responsible for co-ordinating his/her department’s activities to contribute to company success. For example, a Blinds Company who sales vertical blinds and roman shades online. Marketing team get business online and the production team need to delivery order products within given time by marketing team. In that case co-ordination between two departs is most important.
Good sales organizations plays a very important role in maintaining above said relations and promote the sales. Although primary responsibility of top sales executives is to manage sales department. A telly caller for term insurance agency need to be in touch with his sales departments, so when they have seasonal promotional schemes it be offered to clients right away. Sales executives understand how other departments influence and are influenced by the sales department. These are dynamic relationships, so a change in one department often has repercussions in other. A special co-ordination is required between sales and marketing department, in the areas of advertising, marketing information, service, physical distribution etc.
Co-ordinating the activities of all departments so that maximum progress is made toward overall company objectives is top management’s responsibility. Department heads, in addition to implementing top management’s directives, harmonize their activities so that the tasks of all departments are accomplished effectively. Each understands the functions of other departments and, each is responsible for co-ordinating his/her department’s activities to contribute to company success. For example, a Blinds Company who sales vertical blinds and roman shades online. Marketing team get business online and the production team need to delivery order products within given time by marketing team. In that case co-ordination between two departs is most important.
Good sales organizations plays a very important role in maintaining above said relations and promote the sales. Although primary responsibility of top sales executives is to manage sales department. A telly caller for term insurance agency need to be in touch with his sales departments, so when they have seasonal promotional schemes it be offered to clients right away. Sales executives understand how other departments influence and are influenced by the sales department. These are dynamic relationships, so a change in one department often has repercussions in other. A special co-ordination is required between sales and marketing department, in the areas of advertising, marketing information, service, physical distribution etc.
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.
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