Sales Industry, Sales Trade

People from the sales industry are involved primarily in the achievement of the sales target. The responsibilities of marketing and sales may seem to overlap. However, the marketing industry focuses on enhancing the promotion channels, while the sales industry deals with the improvement of customer experience, communication and the final closure of a sale. Addressing customer complaints and after sales service are also important components of the sales trade. Sales professionals are also responsible for the planning of selling strategy, preparation of the commission structure and compilation of sales figures.

Sales Industry: Earliest Form

Prior to the onset of the industrial revolution, businesses were restricted in their geographical reach. Due to this, the task of selling was not very challenging. In most cases, the business proprietors multitasked and selling was part of their primary responsibilities. Then came the era of mass production and the need to target new markets appeared. Large factories incorporated sales divisions to enhance the reach of their surplus products. In the 1990s, technological advancements led to cut-throat competition. Companies began modifying their products according to customer feedback and started using various forms of reaching out to customers. This is when sales professionals started playing a crucial role in a company’s decision making.

Sales Industry: Functions

For consistent growth, systematic coordination between the sales division and other departments is a must. Else, an organization may be faced with customer order backlogs, delayed payments and the accumulation of inventory. It will further affect a company’s brand value, cash conversion and customer service. To ensure smooth inter-departmental functioning, inputs from sales professional needs to be incorporated in the daily working of the finance, marketing and purchasing departments.

The sales department boosts the growth of an organization by:

• Fostering better ties with the customer by implementing effective customer service initiatives.
• Making realistic sales forecasts.
• Planning the sales effort by identifying the target market and offering a product that meets identified needs.

• Selling products and services to the right target audience in the right quantity at the right time.
• Maximizing cash flow and profitability.
• Developing short terms sales plans that match a company’s long-term sales goals.

Feedback from the sales department should also be incorporated in the planning, manufacturing and engineering process. In effect, better products will be developed which will further maximize a company’s profitability.

Sales & Marketing

• Marketing Industry, Marketing Trade
• Sales Industry, Sales Trade
• The Sales Funnel

Marketing for Dummies Guides

• Marketing for Dummies
• Marketing Plan
• Marketing Strategy
• Positioning
• Differentiation
• Brand Equity
• Brand Marketing
• Direct Marketing
• RFM – Recency Frequency Monetary
• Breakeven Response Rate
• Customer Profitability
• CLV – Customer Lifetime Value
• Loyalty Program
• The 4 Ps
• The Campaign Framework
• The Marketing Budget
• The Marketing Mix

Measuring, Marketing, Metrics & KPIs

• KPI – The One Key Marketing Metric
• Marketing KPIs and Metrics
• Measuring Marketing
• ROMI – Return on Marketing Investment
• Marketing Finance
• Financial KPIs
• Market Share
• Mind Share
• Customer Satisfaction (Cust Sat)
• Net Promoter Score
• Kano Model

Online Marketing/ Digital Marketing

• CPM Advertising
• CPC Advertising
• CPA Advertising
• Click Through Rate (CTR or Click Thru Rate)
• Conversion Rate
• SEO Marketing
• SERP: Search Engine Ranking Page
• Behavioral Email
• Guerilla Marketing