LeadLead Lead refers to a prospect or potential customer (who can be an individual or organization) that exhibits interest in your service or product; or any additional information about such entity. Management

In sales, it all begins with leads. There is always a sales quotaQuota Quota is a predefined benchmark indicating the amount of sales a selling unit such as a sales rep or a regional sales team should achieve within a given period, often used as a measure of success, performance and eligibility for commissions and other rewards. to be made. A quota won’t be attained without adequate opportunities—and opportunities won’t happen without adequate leads.

Opportunity Management

At the very heart of running a sales, the pipelinePipeline Sales pipelineis a visual representation of the stage prospects are in the sales process. is opportunity management. Opportunity management consists of, first, setting up a sales processSales Process Sales Process is a series of strategic steps or a set of activities aimed at driving sales growth through the alignment of personnel, market insight, methodologies, relevant business units, and technology.. This means knowing the various stages that your opportunities pass through, from lead all the way to close. When you know how long a deal takes to make it through the pipeline, and how long it should take for an opportunity to make it through each stage of that pipeline, you’ve got a fairly accurate sales process.

AccountAccount Account refers to a record of primary and background information about an individual or corporate customer, including contact data, preferred services, and transactions with your company. Management

Account management is a considerable job—and one of the most important for a sales professional. Account management consists of several key functions, all of which actually add up to happy customers. Account management is most precisely conducted through CRM.

Existing accounts are the foundation and stability of a company. Moreover, it is far less complex and costly to keep an existing account satisfied and happy than it is generating new business.

The War Room Concept

The War Room is a vital concept in sales management.

A physical war room, in the military, is a space in which generals, officers and battle coordinators visually plan out battle tactics and strategies for specific operations. In business, the term has come to mean a meeting space built for the specific purpose of providing a dedicated location for stakeholders and project teams to share a location and visually communicate tasks and activities associated with the execution of critical projects.

Hunter and Farmer

Finally, we need to examine the two basic types of salespeople, the hunter and the farmer, and how each of these are managed.

Come with me as we explore each of these vital parts of sales management through CRM.