What They Do
In general, a sales manager is responsible for facilitating and overseeing the sales for a company’s particular product or group of products. First, they collaborate extensively with their higher-ups to establish specific and realistic goals for the sales team to reach. They must then break these objectives down and communicate them to their sales representatives in a positive, encouraging manner. Finally, the sales manager creates strategies and plans to assist the teams in reaching the goals.
Every aspect of this career requires careful organization and communication skills. A sales manager is also responsible for resolving customer complaints and requests, and the monitoring customer preferences so sales efforts can be adjusted. This often involves the development and implementation of discounts or special pricing plans. They also assigning sales areas to different representatives to spread the team’s reach across potential customers. Sales managers must also analyze sales figures to project what products or services perform best in with which audience.
Effective sales managers constantly exhibit strong leadership. They must understand the character of their employees, motivate their team, and understand what is necessary to meet the goals they have set for themselves. Dynamic sales managers understand that their place in the company is integral to success.
Career Growth
The Bureau of Labor Statistics expects 100,000 job openings in this field over the next seven years. This encompasses national, regional and district sales manager positions, so the possibilities are abundant for those looking for a career path in this direction. However, progression is purely dependent on the growth of the related sales industries.
Because of the evolution of online shopping, the need for business-to-consumer calls (calls to individual customers) has dropped significantly. However, the demand for business-to-business sales has risen, due to the increasing interconnectedness of companies domestically and internationally. Having trained professionals with the knowledge of a second language gives a company the ability to expand into foreign markets, and bilingual applicants will encounter increased success.
Salary Potential
The annual salary for sales managers at all levels and all industries runs between $52,000 and $187,000. Many salaries include commissions and bonuses, which vary between employers. The median wage has hovered around $107,000, but often includes working long hours, evenings and weekends.
There are several different industries that employ sales managers, with varying levels of annual pay. Both the Bureau of Labor Statistics and PayScale report that the leading sectors, in terms of median pay, are finance/insurance ($132,070), management of companies/enterprises ($115,000), and wholesale trade ($114,800). The importance of a sales department in any business or corporation cannot be overstated; consistent performance by sales managers will be rewarded with job stability and financial security.
Education Required
While education is valued, it cannot replace extensive experience in this field. However, most sales managers have a bachelor’s in business. Employers normally seek a candidate for a management position with at 1 – 5 years of experience in sales.