With this complete commercial management guide, discover keys, strategies and techniques to boost your sales and achieve business success.
Commercial management: Advantages and key objectives in the current business landscape. Discover how an effective strategy can drive the growth and profitability of your business.
There are still companies that pursue their objectives by focusing all their efforts on offering a good product at competitive prices and having a sales team that is as effective as possible.
However, today, for a business to thrive, that is no longer enough. The world has gone digital and the way customers make purchases has changed.
They have become more demanding and seek to interact with the company and other users to offer suggestions, give their opinion, or simply obtain relevant information about the product or service they have purchased.
Through the communication channels that the company makes available, the user can be ensured to have a better purchasing experience.
And, to do this, it is necessary to know what their needs and expectations are.
Therefore, although the final objective is to sell, we must not neglect an important point of the sales strategy: the customer loyalty.
For the entire process to be successful and to achieve the set objectives, it is necessary to have good commercial management.
What is commercial management?
It is the set of techniques that a company uses to publicize its products and services.
That is, establish the steps to follow to achieve sales objectives and achieve customer satisfaction. This includes market studies, the promotion of the product or service, the means of distribution, the sales channels and the after-sales.
To carry out good commercial management, you must work with the resources and functions of the different areas that make up the business proposal.
It is not an individual job, but rather the synchronization of several teams.
Therefore, successful commercial management must have the following elements
Administration and commercial management
Plan the objectives
In this first stage you must clearly define the objectives and set the goals that you want to achiev
First of all, they must be as detailed as possible, achievable, measurable and must be achieved in a certain period of time. Ultimately, it is about establishing a commercial strategy that provides clients and competitiveness to the company.
Drawing up a marketing plan is essential for good business management
To determine if our commercial proposal is the most appropriate and has the possibility of reaching the product to potential customers, it is necessary to carry out market studies.
With them we will be able to find out the situation of the market in which we want to position ourselves and we will know what successful strategies the competition uses.
In this way, in addition to knowing the path to follow, we will be able to offer a value proposition different from the rest of the competitors.
Manage the sales force
It consists of managing the different teams involved in the sales process.
The chosen strategy will be effective if each member, in addition to being trained to perform the assigned tasks, is motivated.
At the same time, the manager must ensure that all teams work in the same direction, aligned with the corporate strategy.
Know the product
It is not only about knowing its features and functions in depth, but also about being clear about whether it meets the user’s needs.
If so, they will feel motivated to purchase our products and services instead of those offered by the competition.
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Monitoring of sales and after-sales processes for good commercial management
This includes all the necessary techniques to close a sale, as well as actions that enhance customer loyalty.
At this stage, it is important to monitor the entire process in order to determine if the right things are being done to achieve the objectives, if our actions are effective.
All this monitoring is easier to carry out if you have a CRM digital tool.
By having all the data in the same application, you obtain a complete view of the business, making it easier to see what the weak points of the strategy are. It also allows you to automate sales and collections, manage orders, create customer files, etc.
This tool is a very useful help to improve our actions, achieve objectives and stand out among so much competition.
Customer management
Within the follow-up work, the sales team is also responsible for monitoring the customer’s reactions at each stage of the process, from the first contact to the post-sale.
This includes managing the different channels of communication with the client and analyzing their profile to get to know them better. All with the aim of offering you a satisfactory shopping experience, or improving it.
Advantages of good commercial management
Designing effective strategies that make our products and services known to potential customers not only encourages them to purchase them, but also brings many benefits to our business.
For example, the company…
- … You will become increasingly more effective with respect to business processes, which will lead to being more successful in your purposes.
- …It will increase your profits.
- … It will be more competitive.
- …By better understanding how the market works and the demands of your customers, you will be more productive.
- …You will build a strong relationship with customers. Through personalized treatment, your needs, expectations and problems can be identified. If the company is able to satisfy and solve these concerns, new sales opportunities will be more likely to appear.
- … You will have a greater ability to retain customers because you will know how to make them feel satisfied.
Commercial administration
Good commercial management would not be possible without the sales administration area.
While the former is in charge of the different responsibilities involved in the business strategy, commercial administration is responsible for organizing all available resources (whether human, technological and financial) in the most efficient and effective way possible.
Its objective is to achieve the best results for the company with a minimum cost. This is achieved by optimizing each of the resources, without wasting a single one of them.
Business management consists of four main functions: planning, organizing, executing and controlling. Let’s see how each of them works:
- Planning
Once the business strategy has been established, the commercial administration is responsible for planning each of the activities that will be carried out.
And to do this you need to investigate the state of the markets, competitiveness, make graphs and consumer statistics, know the economy of the country or region, etc.
With all this information, the actions that each commercial management team will develop can be directed more effectively. And it will be easier to achieve success.
- Organization
At this point, what activities are necessary for each of the sections of the commercial strategy are defined, and who will carry them out. In fact, without organization, planning would be chaos and would hardly achieve its objectives.
- Execution
It is time to supervise that the people assigned to certain tasks carry them out efficiently.
And if problems arise, business administration is responsible for finding satisfactory solutions.
For a company to prosper, it is necessary for its employees to work as a team, and this implies that there is a good relationship and communication between all parties.
In this phase of the business strategy, that understanding is of utmost importance.
- Control
Reports and statistics are used to keep track of each of the activities agreed upon in the planning.
This allows us to find possible errors in the commercial strategy and correct what is necessary to achieve the set objectives.
In summary, implementing commercial management in your business is important for several reasons:
- It allows you to know in detail the relationship between the company and the client, and determine if certain improvements are necessary to make the commercial proposal more effective.
- Increase customer satisfaction and, therefore, their loyalty to your brand.
- It improves profitability because you can determine the amount of product needed to meet demand and adjust prices.
- Increases the reputation of the company and makes it more competitive.
- By knowing widely the market to which the product or service belongs, the company becomes more productive.
As we have seen, commercial management is one of the pillars on which the success of a company is based and, therefore, it is not a topic that should be left to chance, but rather requires time and planning.