Sales Management Strategies

Paper Summary:

The paper describes the consultative, enterprise and transactional types of selling and provides examples of where each strategy can be best used. The paper then analyzes the strengths and weaknesses of each approach in bullet form.

From the Paper:

"When companies adopt the strategy of consultative selling there's also gaining a prospects' and customers' trust. The fact that selling using this strategy puts the problems of prospects and customers, some very complex, leads to the expert salesperson becoming highly trusted. For this reason solution selling is also called a trusted advisor strategy, which is commonly found in the financial services industry for example. A trusted advisor is in reality best practices in consultative selling, in that the salesperson has become an ongoing information and consultative resource to the prospect or customer. The best example of the consultative sell is in financial services and insurance, where individuals are rolling over their 401Ks for retirement, and a person trusts a financial advisor with their life savings."

Sample of Sources Used:

• Benfield (2001) - Redesigning your Sales Force. Electrical Wholesale Magazine and website. May 1, 2001. Accessed from the Internet on July 13, 2007 from: http://ewweb.com/mag/electric_redesigning_sales_force/index.html
• MarketingPower.com (2006) - The American Marketing Association website, Dictionary of Marketing Terms section. Accessed from the Internet on July 13, 2007 from: http://www.marketingpower.com/mg-dictionary-view734.php
• Yankee Group (2005) - Drive Revenue through Information-Driven Selling. Yankee Group Report. May 2005. Sheryl Kingstone. Accessed from the Internet on July 13, 2007 from: http://www.oracle.com/applications/crm/yankee_group_wp.pdf

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