Sales prospecting is the act of recruiting or seeking out new customers for a business. Prospecting is a common role of a salesperson. It is associated with a goal of increasing the customer base of the company and generating new revenue streams.Know More
Salespeople use a variety of techniques to find and recruit prospects. Cold calling is a way for new salespeople to drum up business, although established representatives also use it to grow their customer bases. Cold calling means contacting a prospect without any previous relationship or connection. Established salespeople rely on referrals to grow. A referral is a person referred to the salesperson by another prospect or customers. It is common for a rep to ask a satisfied customer to provide names and numbers of other people who may have interest in the product.
Networking is another common technique. Networking involves getting to know people through social or community clubs and other local activities. By building a personal or professional network, a sales representative has an ongoing base of contacts. Real estate and insurance salespeople benefit from networking in a local market, since most people use these services at some point. Sending out direct mail, attending trade shows and placing contact forms on a website are other techniques.Learn More
Sales promotions may help businesses gain exposure, clear out old inventory and boost revenue, but they are not ideal for attracting new customers. Sales promotions are most valuable to small businesses and can help businesses develop key relationships with local consumers and business allies. However, sales promotions may only drive sales in short bursts, leaving companies with an effective short-term growth plan but no sound marketing solution for the long haul.Full Answer >
Sales management refers to the efforts of a business to maximize the benefits a company and its customers receive from its sales force. A sales manager establishes goals, meets quotas and hires a staff of the best sales people possible.Full Answer >
Commercial sales can refer to sales between businesses or from a business to a customer. Commercial sales often drive the profitability of most organizations.Full Answer >
A sales invoice is a bill that lists the details of a purchase of goods or services. This commercial document is issued by a seller to a buyer, and it usually details the payment terms of the transaction.Full Answer >