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A

RESEARCH PAPER

ON

EMERGING TRENDS IN SALES MANAGEMENT

Submitted to Submitted by

Prof Manisha Lande DIVYANSHU KUMAR

MMM-B

Roll No. 23

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EMERGING TRENDS IN SALES MANAGEMENT

From the global economy to technology, individuals and organizations are

mindful of them. Surprisingly, there is very little written of emerging trends in thesales profession. We believe that selling is a profession, possibly an industry

nothing happens in any business without a sale! Professional sales training is now required, as is the need for useful technology

that creates efficiency with customer relationships. However, the worlds challenges

are changing the manner of selling. New issues await toda ys professional. These

trends require flexibility, tenacity, and the opportunity to educate ourselves in a

variety of disciplines.

Global Clients Selling professionals are experiencing a cultural shift in theirrespective account bases. It is vital for all selling professionals to think globally and

act locally.

The current economy is morphing faster than in the days of both immigration and

the Industrial Revolution. Selling representatives must be cautious about words,

dress, linguistics, and even electronic communication. Anything said or written can

be misinterpreted. The 500 most commonly used words in the English language

have over 14,000 definitions.

Tomorrows selling professionals must begin the study of international cultures

and languages. The acquired knowledge assists professionals to communicate

articulately with global clients, which provides better relationships. Gaining a better

understanding of business etiquette, linguistics, mannerisms, and culture enables

selling professionals to diminish barriers and gain better insight into client issues.

Moreover, the ability to engage cross-culturally enables selling professionals to

competition-proof their capabilities. Knowledge Management: Many years ago computers were bulky, rare, and

performed minimal functions. Then as now, computer operation required data.

However, as computer software developed, spreadsheets enabled end users to take

data and gain useful information such as buying patterns and favoured products.Yet, with the emergence of smarter technology, usefulness of the Internet, and

spontaneity of access, stored information morphs into knowledge. In todays selling

world content is king.

Selling professionals require a wealth of knowledge to remain competitive.

Tomorrows selling professional requires better insight into the customers world.

Professionals must study competitors, the industry, and the client to help determine

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future needs. Using knowledge to help the customer remain competitive and offer

provocative insights provides value and partnership. Customers engage with those

they trust.DRM Direct Relationship Management: For years customer

relationship management was paramount to organizational success. Customerrelationship management is an information industry term for sof tware, and usually

Internet capabilities, that selling professionals and their organizations use to manage

customer relationships. Databases, Windows-based software, and Internet

applications all assist with maintaining client contact. However, while devel opment

has created wealth for software applications, it has done little for client relationships.

Selling is a relationship business. Individuals want to conduct business with those

they trust. Picking up the phone is more meaningful than sending an email and the

more direct contact the betterpeople are not that busy. In an increasingly

competitive market, having direct contact will actually deflect competitive forces. Strategic Methods: In a recent research survey of over 400 sales managers,

87% admitted their professionals were too tactical. Selling professionals by nature

are tactical. Yet, tactics are not the best use of time and resources. The new era

requires that selling professionals become more strategic in their account

management and account planning. The research professional of tomorrow requires

a tenacious desire for research. Sellers will require comprehension of competitive

forces, industry demographics, and changing political and economic areas as well as

technological changes. Rather than simply selling vertical products and services,

future account management requires applying the value proposition to the

enterprise.Driving Force: A prevalent component of any business is strategy. Many

organizations do not implement strategy correctly; lea ders either look too far into the

future or they fail to see into the current organizational culture. Strategy is needed for

any business, from the smallest to the largest. However, important as strategy is, it

cannot exist without having driving force.

Every selling organization will need to strategize and determine their driving

force. Clients require new methods of service and support. Moreover, the need for

proximity and speed of service will require representatives to be more responsive.

More important, managing account in silos and placing numerous impediments thatcreate intra-selling competition hurts client relationships and destroys margins.

Talent: The diminishing labour pool and the constant drive for profits disables

organizations capability to acquire the best talent. The largest asset of any

organization is talent, especially sales talent. Nothing happens in an organization

without someones selling something.

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With the need for selling in every business, there are fewer than a few dozen of

the more than 4000 colleges and universities in the United States with an

established a formal sales program. In the United States, there are only fourteen

universities with professional selling programs. Of the 1.2 million sales positions

available in US-based businesses, research illustrates that up to 92% of sales

employees have no formal selling education. Future sales leaders will require education acquisition. Simply put, selling is a

profession and must be treated as such. Future leaders must engage i n the proper

education to increase proficiency and effectiveness. However, training must not be

event-based. The purpose for training is to decease ineffective tendencies and

provide strengths. New habits manifest over months, not hours in a classroom. CustomerService: Peter Drucker once stated that an organization exists for

one reason: the customer. Unfortunately, the wrestlers of Wall Street persuade many

firms to focus on irrelevant profits. Future organizations require more suitable

strategic methods and driving force. Fortifying organizational strategy requires

sagacious attention to customers. Similar to sales, customers are the lifeblood of

every organization. Competitive differentiation stems from the perceived customer

value. Customers desire to be with those they trust; this is the key differentiator in a

marketplace cluttered with vendors. Appreciation from your greatest asset takes no

time and little investment, and pays a huge return. Customer service extends internally and externally and relie s on people,

processes, and physical evidence. Selling professionals and peers will need to

employ a true customer orientation, from answering telephones to returning phone

calls. Procrastination and avoidance will be grounds for termination as organizatio nsattempt closeness with customers. Also, processes must be efficient and client -

friendly. Lengthy forms and waiting times only add frustration. Tomorrows leaders

will constantly walk the process to eliminate tardiness and frustration. Finally,

customer service requires a clean act. Selling professionals will dress differently, act

differently, and speak differently. Clients make decisions within the first twelve

seconds. Ask what clients believe about the firm and its employees.

CONCLUSIONWhile change is good, it requires adjustment. The future of selling requires

changes to keep pace with generational and cultural shifts that create behavioral

changes in decisions. The selling representative of tomorrow must work efficiently

and quickly to maintain the pace. Failure of change leads to competitive elimination.