In order to implement suitable sales management methodologies, it is essential to gather sufficient data regarding ongoing transactions, quotas, objectives and workflow processes, to find suitable methods for motivating the sales force. For any business cycle to be carried out efficiently, it is essential to ensure that the product or service is delivered successfully to the client and that it meets client requirements.
However, for a business cycle to start effectively, it is essential to motivate the sales force, who will subsequently convince the client in invest in the particular product or service. Thus, the sales team plays a pivotal role in ensuring the success and productivity for any company. A service based company may argue that for its sales team the challenge lies in brand positioning. For service based companies like software development firm the sales team faces the challenge of assuring the client of the USP or the Unique Selling Point of the company. Thus, in order to motivate the sales team and help them with brand positioning, it is essential to implement proper sales management techniques.
Mark Stiffler the Chief Executive Officer (CEO) of Syngy Incorporated, believes that data analytics is essential to evaluate suitable methods of sales force management. Before Stiffer started Syngy Incorporated in the year 1991, he worked as a business consultant. During this time period he found that extensive analytics and statistical representation of the business transactions are essential for effective sales force management. According to Stiffler a simple transaction like selling a single insurance policy to a client can provide insight into creating effective sales force management methodologies. Some of the methods by which analytics can help in sales force management are as follows:
- Workflow analysis involves gathering data right from the moment a product or service is being represented to the client, till the moment the investment is made. Data analytics will evaluate every step of the process to identify the exact reason behind the successful sale of the product or service. This can serve as a statistical representation and an example of successful sales force management.
- Business model analysis is essential to identify the sales management methodologies implemented by similar service providing firms. Stiffler believes that this form of market analysis is essential to help a particular company develop specific sales force management methodologies, which will be effective for the firm’s sales team.
- Data analytics will help represent the information in visibly understandable manner. In other words, dashboards, spreadsheets and run sheets can help with visual representation of sales force management. Based on the information gathered from data analytics pipeline analysis and forecasting can be done with high rate of accuracy.
Thus, effective sales force management has a greater impact on the business process itself. Mark Stiffler mentions that an important part of sales force management is to take into account the human factor. Adequate motivation and sufficient support must be provided to sales force of a company in order to ensure improved performance.