Sales

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An example of a salesman

Sales are the activities involved in selling products or services in return for money or other compensation. It is an act of completion of a commercial activity. A salesman is someone who sells products or services, thus generating sales.

Marketing[change | change source]

Sales are closely connected with marketing because they have the same goal. Sales serve as a result and confirmation of the correctness of the company's marketing work.

Sales are more practical than theoretical. Sales theory certainly exists as the recommended stages of the sales process, and continues to develop.[1] The concept of sales is included as a basic in many other modern terms and business systems.

Many big companies have some problems with their sales and marketing departments.[2]

Handling Objection[change | change source]

A sales objection is an explicit expression by a buyer that a barrier exists between the current situation and what needs to be satisfied before buying from that particular seller. While selling there will be objections from the buyer which the seller needs to handle wisely without losing the leads.

When a buyer indicates objections, the salesperson does not get discouraged but takes it as a chance to explain the value of the product or service. And if the seller can't persuade them, that's a good sign they're a poor fit. [3]

How to be a successful seller[change | change source]

In order to make sales the seller should be credible, he should earn the trust of his customers. There are 5 basic selling techniques:

1.    Emphasizing Choice - When nearing to closing a deal, the most common problem a seller faces is the dilemma faced by the buyer, whether to buy the product or not. The ability to underline a choise and persuade the buyer to make that choice is a key required skill of a sales person.

2.    Active Listening - It is the best selling techniques a sales person can have in their repertoire. A sale can only be made only through a two-way conversation. The seller should keenly listen to what the buyer wants to say, and should make his next move according to that. Active listening helps foster trust between a client and the company, and in turn, that trust helps build relationships that can be integral to your business for years.

3.    Warm Calls - This is an alternative selling technique for cold calls, which is both impractical and have been proven not to work. Warm calls takes into account the importance of subjective calling. Warm calls target prospective clients who are more likely to be receptive to your sales call. They include people who have reached out for information, people you’ve met at industry events, and people others have referred to you.

4.    Stories with Contrast - Selling techniques that rely solely on extolling the features and benefits of a particular product or service are less effective than selling techniques that emphasize the contrast between a product and its competitors. Drawing parallels between competing products can help set your company apart from the rest of the pack. Customers like contrast; they like authoritative reasons why your company is the better choice.

5.    Using Referrals - This is a method to draw in new potential customers. With any clients you currently have, encourage them to submit referrals that you can use in upcoming sales calls. Being able to point to the positive experiences of other clients is a great way of demonstrating the legitimacy of your product or service. People will instinctively feel more comfortable making a purchase if they’ve been given evidence that the product comes highly recommended.

Methods[change | change source]

There are many classifications of sales:

  • wholesale and retail sales
  • sales in the B2B and B2C segment
  • active sales
  • direct sale
  • multilevel marketing
  • "short" and "long" sales
  • mobile sale
  • sale of goods and services
  • industry sales: food, building materials, etc.
  • Live Auctions
  • Spot bid sales
  • Retail sales

References[change | change source]

  1. Paul H. Selden (December 1998). "Sales Process Engineering: An Emerging Quality Application". Quality Progress: 59–63.
  2. "Ending the War Between Sales and Marketing - Sponsored by SAS - Harvard Business Review". web.archive.org. 2014-08-19. Retrieved 2021-04-12.
  3. Blount, Jeb (2018). Objections: The Ultimate guide for mastering the art and science of getting past no.