The Sales Sector

The Sales Sector

Sales is a fundamental part of any business

As a sector, sales is typically ultra-competitive, with everyone vying to sell and make a profit. It also has a higher-than-average turnover rate, which for job hunters looking to get into sales means there are constantly opportunities available. It also makes it a great sector for those without any sales experience too, as there are more opportunities than in other sectors for those just starting out and looking to get their foot in the door. The downside to sales is that it is a field with a high turnover rate, this is because you’re constantly targeted on how much you sell. And because even a seasoned salesperson cannot guarantee what their sales will be like from one quarter to the next, it is for this reason that jobs in this sector are not only poor overall in terms of the security they offer, but also for the reliability of the income one earns, especially in entry level sales jobs, with many being commission based only

In this sector, you’ll normally find you only have limited opportunities for career advancement, although this of course will vary depending on not only what industry you’re selling in, but more importantly, on the field of sales in which your involved with, e.g, recruitment sales, telesales, etc.

While many jobs in the sales sector typically only offer the minimum wage and will be largely commission based, there are also plenty of jobs that will provide good salaries and the potential to earn great commissions, especially for an experienced and qualified sales representative. In this sector, there is also the upshot that having experience selling in one industry will many times make you eligible if you’re applying for another job selling in a different industry

All in all, sales can be a tough, high-pressure sector, but a finally rewarding one to work in

There are two distinct groups that sales can be split into. B2B (business to business, where a business sells to another business) and B2C (business to consumer sales, where the business sells to the consumer)

MAIN SALES METHODS

• Business to business sales
• Business to consumer sales
• Commercial negotiation
• Direct selling
• Media sales
• Recruitment sales
• Recruitment consultancy
• Telesales

For people with no previous sales experience, your best option would be to look for an entry level sales job that offers training. Be aware though, many entry level sales jobs are lowly paid, especially those that come from sales outsourcing. However, a good entry level sales job, with training, while probably still lowly paid, will at least be reliable and will provide a good steppingstone for further advancement into the sales field

For those with graduate or undergraduate qualifications, while some employers in the B2C (business to consumer) field will often seek out graduates for management roles, most jobs will actually be found in business-to-business sales (B2B), which tends to be better paid and offers a highly challenging calibre of work

What Sales Is…?

Sales is not just about saying anything to get the sale

By making people aware of the benefits and advantages of your products or services, you can make effective sales by presenting information to your target audience in a way that persuades them that it’s the right product or service for them. This is an important sentiment that a good interviewer will be looking for you to express when interviewing for most types of sales roles

If you mislead or lie to a customer you can sometimes get the sale, but if they realise what you’ve done, or they’re not happy with what you’ve sold them after the fact, not only is it a possibility that they won’t buy anything from your company again (thereby damaging your company’s reputation) but there could also be serious repercussions for yourself, especially if you’re working in a regulated industry

THE 3 BASIC PRINCIPLES OF SELLING

1. Get yourself noticed. The first stage of any sale is to somehow get the attention of your prospect through methods like prospective sales approaches and advertisement
   
   
2. Have an effective sales pitch. Engage with the sales prospect using a professional and honed sales pitch. Build their interest, then use statistics and testimonials to back up your words
   
   
3. Use the correct closing technique. This involves asking the sales prospect, in either a direct or indirect way, if they would like to buy your product or service.  If they decline, firstly listen to what your prospect is telling you, address their objections, then repeat the 2^nd and 3^rd steps again

There are numerous closing techniques you can try to use when making a sale. Some will work better under certain circumstances than others, and it will be up to you to choose the method that best suits the needs of the situation you’re in. Here we will look at some of the most common ones:

A concession close – This is where the salesperson offers an incentive, such as a discount, as a means of closing the sale

A minor point close – This is a technique where the salesperson finds a minor point to get the sales prospect to agree with, then uses that as the basis from which to attempt to close the sale

The pressure close – This is a technique where the salesperson does their best to make the prospect feel that they could be missing out on a great opportunity if they do not buy the product or service at that time. For example, pointing out to them the possibility that the price might soon rise

An alternative choice close – This is where the sales prospect is offered one or more alternative choices on the details or terms of a sale in an attempt to close it

An Indirect close – This is where the salesperson attempts to close the sale with an indirect question pertaining to the price or terms offered

A direct close – This is where the salesperson asks the sales prospect in a straightforward way if they will buy the product or service on offer

It is a fact that salespeople who are data focused (targeting markets and customers by basing sales campaigns on cold hard data), for instance through use of CRM’s and market surveys, will usually have more success than salespeople who focus on areas to target based on intuition, or what they otherwise tend to think of as their own experience in the field. For multi-tier sales campaigns in particular, it’s essential that the salesperson understands the market so they can properly hone their sales pitch

Have you ever had someone convince you to buy something? What were the circumstances? What was your relationship with them? Did you ever want to buy anything else from them after that? How did they make their approach? What sorts of things did they do to convince you? These are some of the questions you should ask yourself when you think about the types of sales techniques you plan to use when you approach a sale…

An experienced salesperson understands that in order to have the best chance of a successful sale there are certain things that should be done during the sales process. Here are the most important steps to follow during any sale

• Make sure you speak to an actual decision-maker
• Make sure you understand the ideal solution to your sales prospects problem, and that you have identified what they are trying to achieve as far as their business or personal goals go
• Be aware of any timeframe your sales prospect has
• Try and identify how your sales prospect might reach their decision before you approach them
• Most importantly…You need to qualify your sales prospect on price