The term “sales” is well defined by the series of activities involved in selling or delivery of products and services to consumers or enterprises through an online or offline medium within a specific time duration.
Organization have separate department of sales and marketing to bring revenue in the company. Hence, 3 most important aspect involved in selling are:
- lead generation ——->customer meet —–> payment —–> sales closure
- Customer walk in ——> customer meet ——>payment ——->sales closure
- Customer walk in —–>add to cart —–>payment —–> delivery <—–cash on delivery
Sales in a company come with sales target/quota, sales cycle, and a salesperson responsible for the job where the salespersons are given a monthly, quarterly target which they have to achieve for incentives and growth. Sales mean selling of products and services to bring money in a company to run the enterprises.
Sales is a series of activities for selling goods and services to the end customer in exchange for payment.
Sales Function Involves :
Buyer | Seller
Sales Involvement :
- Agreement/Sign up form
Different Kinds Of Sales Process
B2B: Lead generation | Customer meet | Product demonstration | Follow up | Negotiation | Sales closure
B2C: Customer walk-in | Product demonstration | Negotiation | Sales closure
Different Types of Sales
The sales team meets the customers in the customer’s offices or site office. Outside sales are also known as field sales, door-to-door sales, travel sales, and outbound sales. Outbound sales involve face-to-face meetings with the customers and this is the reason why it’s the most effective sales-type because customers trust sales person who meets face to face.
2. Inbound Sales
Inbound sales have evolved in the last 10 yrs where we don’t meet customers in their office but salespeople connect them through video calls, emails, chats, and phone calls through which they try to close the sales. Inbound sales also call remote sales and inside sales. Inbound sales require automated process and technology to communicate
3. Lead Generation
Lead Generation is also called cold calling and it’s the first step of the sales cycle. We send emails, phone calls, chat with prospective customers, and if they agreed we forward the lead to a salesperson for meeting and closure. Secondly, many lead generation executive visits directly to companies and offices to generate the requirement and hence it’s a time killing sales types because we believe that if we send 200 emails daily we can get a conversion or if we visit 30 companies per day, we can generate 3 leads but list more of loose win situation.
We term B2B as Business to business where we meet SME (small-medium enterprises), MSME (Micro, small, medium enterprises ), and Corporates. The beauty of B2B sales is that it involves high ticket sized contract we sales are done on work orders, advance or full payments. The sales closure process is a little long it might take 7 days to 3 months to close the sales order. Sales Volume is low.
B2C is termed as Business to customers, here the customers directly come into the shop, showrooms, or online marketplace. In B2C sales, the time to closure the sales is very small like 15mins, 1 hr or 3yrs or a day. Sales volume is very high in B2C plus ongoing discounts and advertisement is required for sales. Hence the cost of doing business is high. B2C is also known as walk-in sales or door-to-door sales.
6. Online Sales
Online sales have emerged in the last 10 yrs because we can build on the internet, hence it becomes easy to reach a mass audience. Online sales require no human interaction but its technology intervention which has grown the business. A customer can directly purchase without the support of a salesperson, can pay online or at the time of delivery of the product (cash on delivery)
7. Commission sales
Commission sales have increased the sales volume, hence termed as affiliates, brokers, agents, or middlemen. Today lot many businesses have given the opportunity to become a partner as a consultant or broker and share percentages per sales or on total revenue. Percentages range between 3% to 20%.
8. Consultant Sales
Consultant sales are also taking place in itself as companies are hiring consultants to sell their products and services. Here Consultant understands the need of the customer and then showcase the product or services to customers. Consultants in some companies are from within and some are outside. Hence consultant sales are similar to commission sales.
9. Channel Support
Channel support is also termed distributor or dealer support or reseller support. Manufacturing or parent companies sell their product and services to distributors and resellers and hence they sell forward to the end customers. But services are in hands of parent companies as they have to build long-term relationships in markets.
Sales Terms & Languages
- Sales quota: refers to sales targets given by managements
- Sales pressure: method adopted to drive sales
- Prospect: a customer who is interested in purchase
- Sales closure: you received a sales order
- Sales cycle: series of activities conducted from start to end
- Sales pipeline: series of activities done to bring sales
- Sales strategy: efforts taken to bring sales
- Sales pitch: introduction about company, idea, achievements, product, and services
- Sales incentives: additional earning after achieving sales target
- Sales territory: location to sell the product and services
- Sales quotation: document sends to customers on the company, price/benefits, and existing customers for finalization.
The primary objective of sales is to add customers and generate revenue.
With rich experience in sales & marketing, Neeraj Upadhyay specializes in sales, business development, service, revenue achievements, training, team building, price, strategy business expansion, new product, and many more. He is an expert sales and marketing professional and hence his written article are most among our reader’s favorite.