You might remember the days when random people knocked on doors in the afternoon and sell you different items such as books, mosquito coils, newly launched sanitary pads, and more. These were the salespeople that brands hired to make their products door-to-door while increasing sales. Selling is one of the most challenging but most rewarding professions in the market. If you are also interested in sales and are looking forward to becoming a sales executive or a sales representative, here’s everything you need to know about what is sales, and more.
What is Sales?
When discussing sales and becoming a sales executive, the first thing that comes into mind is what is sales and marketing the different types of sales. As per the Oxford Dictionary, sales is the action of selling something. Sales can be the exchange of money, services, or products between two or more parties where the buyer will receive the product in exchange for money.
Top picked jobs for youWhat are the types of Sales?
Now that you know what sales is, read to find out about different types of sales. On a primary basis, there are 5 different types of sales. Read ahead
B2B Sales type
B2B Sales type or business-to-business sales type is the one in which both parties are businesses. This includes dealing with services required to run other services such as office supplies, consultants, software, etc. It also deals with a larger revenue than the business-to-customer sales type.
B2C Sales type
The acronym stands for business-to-customer sales type. In contrast to B2B sales, this process is less complex. It involves lower-end deals making the transaction quicker by directly selling to the customer. It is an effective method as companies can deal with multiple customers simultaneously.
Enterprises Sales
It is a type of B2B sales that aims toward larger companies. But any sales can be called enterprise sales if the stakes are high enough. It can be understood as if a product gets a multiple-year contract or has a complicated implementation, and it can become an enterprise type of sales.
SaaS Sales
SaaS sales, i.e., software-as-a-service sales, deals with exchanging software that a single provider or company hosts. With this increase in digital space, companies are attracted to this type of sales as it helps them grow and expand as it provides them software and platform to improve their customer service skills and soothe their sales.
Direct Sales
Direct sale is when the brand decides to sell the products directly to the consumers rather than through retailers.
Apart from this, the type of sales can also be divided on the general basis. The categories are:
Transactional sales
One such push marketing approach has a very large target audience to achieve substantial sales. They profit by maximizing emphasis on individual sales. There is no attempt toward customer retention, and an emotional connection with the customer is not made. Cold calling is one of the best examples of transactional marketing. In this strategy, the seller offers the customer a product they initially have no interest in purchasing. They aim to influence the customer to buy the product by assuring its utility and price.
Relationship sales
This type usually involves simple or moderately complex products. They deal with larger unit volumes and greater revenue. In this selling model, sales executives make professional relationships with the buyers at their target customers. When the buyer has found reasonable purchase options, they offer the relationship salesperson a “last look” at the opportunity. If the salesperson can provide a better offer than the competing offers, he will win the deal; if he cannot, the buyer will purchase from one of the competitors.
Solution Sales
As the name suggests, the product or the asset solves the customer’s business problem in this type of sales. It includes creating a complex solution that incorporates products, solutions, or technologies. In solution sales, the sales executive often develops an intimate knowledge and understanding of the customer’s problem and background, industry, and business.
Partnership sales
In this type of sales, the company funnels its sales through any other company, which is already at a very high success rate. This includes applying skills and tools to facilitate long-term partnerships and providing value over and above products.
Now we know what “sales” really means and its different types, let us talk about how to become a sales executive.
Sales industry is vast and there are immense opportunities. One of the main reasons why the sales industry is one of the most preferred is because of the rewards it offers. Since the maximum of the jobs in sales is target based, maximum companies offer a different percentage on every sale you will make. Check out various job openings in the sales domain here. With more than 2 Lakh job openings, you can filter out your desired jobs to apply.
FAQs
Who does a Sales Executive work with?
A Sales Executive works with various employees such as the Sales Manager or Sales Associate. They can also report to the Vice President of Sales or the Senior Director of Sales, depending on the company hierarchy.
What is job outlook for sales executives?
According to the Bureau of Labor Statistics, it was expected to grow by about 5% between 2018 and 2028, which is about average. Moreover, this can also range from industry to industry. Sales executives can also indulge in thinking about needing to change industries if their industry begins to contract.
Where can I find sales executive job openings?
You can visit Jobhai.com and search for sales executive job openings. The job portal has more than 2 lakh job opening across multiple sectors.
Facebook
Instagram
Twitter
