DEFINITION of Sales Meeting
A sales meeting (also known as a "sales conference") is a gathering in which a product or service is being discussed, and the benefits are outlined to the potential buyer. The sales meeting is not always a presentation format; it can sometimes be an informal conversation, phone call or online interaction. The parties involved have this meeting between the initial contact and final purchase, in order to entice the customer.
BREAKING DOWN Sales Meeting
A sales meeting is designed to sell the product, build relationships, identify needs and outline benefits of the product. Personal financial planners would use a sales meeting to discuss retirement goals, build rapport and explain how the investment products and fund management will meet the goals of the potential client.
Why Sales Meetings Are Held Internally
Sales meetings, in a different context, are held within companies for the sales teams in order to prepare and motivate the staff to pursue more clients and close deals. In this instance, the sales meeting can be an assessment of the latest sales targets, involve the performance of the team and individuals, and include discussions of challenges the team has faced.
What May Be discussed in a Sales Meeting
Internally held sales meetings typically do not include clients and are often led by sales managers or executives who oversee the sales division of an organization. The meeting may feature updates on campaigns to pitch products and services to customers, the introduction of new marketing efforts, and other elements that may affect the sales process. For instance, the sales team may need to be brought up to speed on how to leverage software for connecting with and encouraging sales prospects to commit to a purchase.
Personnel from other departments might be included in sales meetings to add perspective on the products being sold. Non-sales staff might also join a sales representative when pitching a product to a potential client. For example, a salesperson might bring along a technical expert to help demonstrate to the customer how the product functions.
It is not uncommon for sales meetings within companies to highlight the top performers of the sales team, presenting them as examples for their peers to emulate. Sales managers might also use the time to discuss how the sales team approaches clients and the ways they try to persuade them to purchase the service or product. There may be new guidance on the language the sales team should use when discussing a potential sale with a prospect. Instructions on how often to contact sales prospects might also be outlined.