Sales encompass activities involved in selling a product or service to a consumer or business. But “sales” means lot more for businesses.
Companies hire sales teams that are dedicated for selling their products and services only.
Key aspect in Sales: Key point to understand about sales is that Product or Services are used by Human Being and sold by Human Being only. Being a good sales person, we need to understand Human buying behavior during deal closure.
What Is Sales?
Sales is a term used to describe the activities that lead to the selling of goods or services and moving cash flow. Businesses have sales organizations that are broken up into different teams. Generally these teams are based on:
The target customer
Region they are Handling
Product or service they are selling
Salespeople reach out to contacts that might be interested in purchasing the product or service that their company is selling. And the contacts that demonstrate
The goal is to reach out to leads who have shown interest or fit the description of their target customer, in hopes of providing them with a solution that results in them purchasing your product or service.
Type of Sales
1. Inside Sales
In inside sales – sales teams engage with their prospects and customers remotely, often from an office alongside their team members, they follow an inside sales approach. Means they sell their product from their company. Organizations that use an inside sales approach often tend to have leaner, more automated processes and structured hours.
2. Outside Sales
In outside sales– where salespeople broker face-to-face deals with the prospect, they are following an outside sales approach. Means they sell from the company without any movement, traditionally door-to-door or performing field sales. In this system sales teams are having more freedom and flexibility for representation to develop their strategies.
This common term stands for “business-to-business” and describes companies that sell products and services to other businesses. B2B sales tend to have a higher deal value and more complex terms
Unlike B2B sales, B2C (or business-to-consumer) sales revolve around transactions between a company and its individual consumers. Generally B2C deals are of lover price value and less complex than B2B sales. Although number of transaction or deals are high in comparison with B2B.
5. Agency Sales
Agency sales involve generating and converting new leads to sign onto service packages from an agency.
In the agency sales space, clients are typically signed by project. For agencies that sign clients by project, they primarily focus on bringing in new business, selling service packages to new clients as their current projects wrap up.
6. Consultative Selling
In Consultative selling sales team focuses on building trust with the customer to understand their needs before recommending a specific product or service. With consultative selling, sales reps focus on building a relationship with the buyer and leading the sale with how the offering will benefit the individual customer, instead of solely focusing on the features of the product to make the sale.
Some companies exclusively sell online, Some sell online as well as offline. E-Commerce is more of popular in Consumer industry as of now., where in deal value is low and transactions are quite high. Products are sold through digital marketing.
8. Direct Sales
In direct selling model, individuals are able to sell directly to consumers outside of a traditional retail environment. With this method, sellers conduct the sale one-on-one with their customers, often earning a commission. This form of selling is commonly used by network marketing representatives and real estate professionals.