Introduction to the Concept of Sales Portfolio
A sales portfolio refers to a comprehensive document that summarizes the sales data. A salesman uses it as a reference tool to examine the patterns of sale. It contains information regarding special deals, types of discounts, terms and conditions. A good sales portfolio contains a model to explain the relationship between input and output. To get a predetermined output, the entrepreneur requires some elements of the output.
Sales Portfolio: A Bank Mortgage
Advantages of a Mortgage
People of different financial abilities need some form of financial arrangement to help them fund major projects such as purchasing a home. Commercial institutions chip in to help enthusiastic individuals realize their dreams. Without a mortgage plan, some low income individuals may never own a home due to their low levels of income and high cost of property in the real estate industry. A mortgage is a desirable option because it is available to people in long term employment plans such as teachers, doctors and police officers.
A marketer may explain other products available to their customers. In many cases, mortgage customers are intellectually individuals who understand the importance of other products such as insurance policies. Essentially, a mortgage has flexible terms of payment for the customer. If the client is a long term employee in a government institution, the bank recovers the loan directly from the employer. Therefore, cases of defaults are minimal if any. Similarly, a bank can repossess the home if the client fails to pay the arrears.
Disadvantages of a Mortgage
Although a mortgage has several advantages to both the commercial institution and the customer, it has its share of disadvantages. Convincing a client to take a mortgage is a challenging task. Many clients are reluctant to take up a mortgage because of the high interest rates. It is a fact that many commercial banks and microfinance institutions charge high interest rates for mortgage services. It is unfortunate that some of the rates are way beyond the reach of many middle level income earners.
Essence of a Sales Portfolio
The sales portfolio helps marketers collect data regarding the progress of their sales campaigns. The portfolio should include information such as dates, number of clients, finances, demographic and regional data among other data that may be of interest. Figure 1.0 shows a sample of a sales portfolio for mortgage services.
Role of Marketers
Marketers link the product to the customer’s personal needs. They may use various strategies to convince the customer. For example, they may offer a flexible payment system that overcomes the cost issue. Additionally, it should suit the target customers’ financial bracket. They may use physical presentations like charts, graphs and even industrial figures. The marketers may also avail brochures, business cards and web addresses to help potential customers make sound decisions
Conclusion
The portfolio of a sales person contains strategies to convince customers. They should be objective enough to identify potential clients on the basis of their economic statuses, age demographics, marital status, sex and culture among others. Whatever the response, the marketer ought to craft a strategy to handle the situation. They may use physical presentations to promote the product. Hence, it is critical to understand the competitor’s strategy and make sure one has a competitive edge.