Sales Ethics and its Importance - Essay Example

Online Customer Relations The invention of the internet strongly changed the way different businesses are operated across the world. The increased demand for information by customers about products and companies that offer them have driven business organizations to tremendously invest in technology particularly internet connections (Beth, 2011). This step has largely allowed business companies to improve the manner and ways in which they create and manage customer relations. Customers are the organization’s vital assets and hence good customer relations are the prime determinant of the company’s profitability and survival (Treace, 2011). The main objectives for business corporations establishing and managing internet systems are increasing customer satisfaction, create benefits through increasing knowledge transfer as well as accelerate company product or service adoptions, and overcoming the barrier to purchase and profit from the enhanced customer satisfaction and knowledge of company products (Noonan, 2012). This section discusses the advantages and disadvantages of online customer relations. Advantages Vital in identifying existing customers and efficiently providing them with relevant information updates with regard to products or services that the company offers; the internet helps in automatically distributing product or service updates, knowledge base articles, together with any other information to the company customers. Accordingly, through conference services online chats are facilitated thus enhancing knowledge and information transfer in accordance to specific products and services together with their uses (Beth, 2011). Collect customer feedback through voting on potential product or service enhancement. The use of the internet in managing customer relations is significantly essential as it allows gathering of feedback on products and/or services, between customers and product designers as well as support teams (Hastings, 2009). This allows the company to customize their products in accordance with the customer demands. The company’s sales teams use the internet to manage customers in a way that allows them to automatically identify existing customers. Given the fact that they already understand which kind of products the customers already own, the sale team will present them with data or information on related products in order to aid in their purchasing decision making process more easily (Beth, 2011). With regard to this understanding, the sales and marketing team can easily and efficiently relay product or service information, sales tips as well as other product or service relevant information to the customer (Bholanath, 2011). The internet can also help the company to track new and prospective customers. For instance through customer registration sites and tracking information from previous and past company web visits, and thus guide them to the related product content (Mueller, 2011). In the same line of thinking, the company can easily develop a marketing encyclopaedia through replicating the HTML web pages to sales representative’s laptop computers. Accordingly, the internet can be used to conduct interactive online seminars with customers from across the globe. Disadvantages The main disadvantage of using the internet to manage customers is that, the company can over-invest in online promotional strategies and tactics that elicit least attention from customers thus not commensurate the company’s efforts. Another crucial concern about online customer relationship management is security; malicious hackers can easily access customer personal information held by corporate organizations (Bholanath, 2011). In addition, the customer has no control on the performance, stability and reliability of the solutions provided by corporate websites (Beth, 2011). Sales Ethics and its Importance Business ethics refers to the principles, morals together with standards that are essential in guiding behaviour in the business world including sales relationships. Sales ethics is a domain of business that receives vast attention, as it demands for the right and correct way of doing business in the long run in order to generate long terms sales for a sales team (Treace, 2011). Integrity and ethics in ones character is significantly important in developing long term selling associations; on the other hand, poor moral conduct in the selling process might result into short term high sales profitability, however, over time this will automatically diminish due to mistrust. Important to note, clearly defining and communicating the code of ethics as well as code of conduct for selling is a significant step in helping the company’s business meet its ethical selling mandate (Beth, 2011). A company that demonstrates ethical selling practices is always regarded as a good business by customers and hence it will earn their trust and loyalty and above all strengthening its reputation (Bholanath, 2011). The company is entitled to developing an ethical code that all its employees must and should comply to; for instance, this code of ethics can be incorporated into company policies and thus reflected in all company activities including the sales process. In this regard, the sales team must always act ethically as this will ensure that they win trust from customers. In the same line of thinking, individuals with high ethical standards working for a business organization, that upholds ethical standards: this will be of great benefit to both the company and customers as well. Sales ethics and business ethics play a critical role particularly in developing lasting customer relationship; in essence, the latter is significantly essential in developing the sale relationship strategy for the company’s customers (Beth, 2011). The sales strategy founded on ethical standards is key in attracting customers and thus increasing the company’s sales as well as enabling the company to build a long term sales relationship. It is essential to note that, companies with inherent drive to develop long-lasting businesses must have good ethical practices in all areas of their operations including the sales department (Bholanath, 2011). Another crucial attribute of sales ethics is that it demands for companies to be socially responsible. A company that is stamped to be socially responsible by the society always attracts a wide customer base to the organization’s products and services thus boosting its sales and profits. Accordingly, good employee will want to stay with the company thus reducing labour turnover as well as increase productivity. In addition, good sales ethics will attract potential employees wanting to work for the company; this reduces recruitment costs and enables the firm to get qualified, experienced and talented employees. Like employees, investors will be attracted to invest in the company thus keeping the company share price high, which on the other hand protects the business from takeover. Personal Selling This is a selling techniques involved between person to person and between the prospective buyer and seller. It consists of human contact as well as direct communication instead of mass communication (Beth, 2011). This technique also involves building customer relationship, discovering and communicating customer needs, and matching the appropriate products to the discovered customer needs. It is considered an influential promotional tool especially when the number of marketers or sales persons is large as they will be able to reach a wide range of customers (Bholanath, 2011). Personal selling is mainly important as the sales person acts like a catalyst that influences the company’s marketing activities. There are different types of personal selling including, retail selling, field selling, telemarketing, and inside marketing. For personal selling to be effective it must undergo the steps including prospecting, pre-approach, approach, presentation and demonstration, handling objections and queries, closing and follow-up. Similarly, this selling technique wholly depends on how the company generates the leads for selling company products. This is normally achieved through advertising, publicity, direct mail/telemarketing, code calling, the use of the internet, referrals, networking, trade shows and/or conventions, and by using company record. Through interactive internet marketing platforms, personal selling has been taken to the next level. The sales and marketing individuals within a given company have been empowered to recruit, communicate, and eventually sell to customers (Beth, 2011). The customer relationship management systems are vital in helping companies to personally market their products; for instance, they can automatically disseminate product information to individual customers. Similarly, using the video conferencing software together with live chats help in informing existing and prospective customers about specific products, individual customers can give their views with regard to the product. In accordance with the above, through using CRM systems, the sales teams have the ability to gather information with regard to what customers need including their likes and dislikes. For this matter, the company product designers can customize their products according to the customer’s needs. The companies can now meet and exceed specific customer needs. Similarly, with technology, the company can use personal selling technique to sells to a wider customer base. With regard to this reason, personal selling has expansively been enhanced by technology (Bholanath, 2011). Through email facilities that are abundantly available on company websites, the company can directly advertise their products to customers by sending direct adverts into the customer’s inbox (Lytle, 2011). Accordingly, relevant information including the importance of using specific company products, the side effects of using products inappropriately, together with the ingredients of products can now be send to customers by the click of a button (Beth, 2011). The use of technology has made easier for companies to generate selling leads and eventually sell the product. This is evidence that the continued advancement of technology has enhanced personal selling. References Beth, Rogers. 2011. Rethinking Sales Management: A Strategic Guide for Practitioners. New York: John Wiley & Sons Bholanath, Dutta. 2011. Sales and Distribution Management. Jakarta: I. K. International Pvt Ltd Hastings, Robert. 2009. Channel Sales and Management in Distribution. London: Businessman 101. Lytle, Chris. 2011. The Accidental Sales Manager: How to Take Control and Lead Your Sales Team to Record Profits. New York: John Wiley & Sons Mueller, Florian. 2011. Sales Management Control Strategies in Banking: Strategic Fit and Performance Impact. California: Springer. Noonan Chris. 2012. Sales Management. London: CRC Press Treace, John. 2011. Nuts and Bolts of Sales Management: How to Build a High Velocity Sales Organization. London: Greenleaf Book Group Read More