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Selling is never an easy job. We all know that, don’t we! Hence, one of the vital aspects of sales is to measure your sales team’s performance. Success and failure are a part of sales and we need to accept it. However, measuring your sales team’s performance can help you optimize both individual and collective performances.
The key is to keep in mind what performance indicators to be used as a benchmark for the performance measurement and the technique to track them effectively.
Here are some of the important parameters you should consider, to improve your sales team’s performance.
Encourage Positive Performance
While reviewing individual performance or team performance as a whole, try to pick out things to celebrate for. Sometimes giving credit acts as huge morale- booster for the team. Focusing on the positives should be extended in a way such as presenting a review to your team.
Constantly try to find out what’s working best, and the same should be conveyed to the team. Positive vibes give positive results 🙂
Using Failure as a Weapon
It’s obvious that negative performances can’t be entirely neglected. What can be done is to have a grip on the failures and making your team involved in finding out the lessons from all the past mistakes.
These lessons should be transformed into action plans and thereby training the team whenever necessary. Then, the next step could be reviewing the action plan and knowing whether the measures have been effective or not after a certain time period.
Activate Triggers to Find Out Pain Points.
It so happens that the issues which are normally hardest to spot have a much greater effect on the sales team’s performances. Triggers can be best used to find out a large number of hidden issues.
For instance, the time spent on administration tips your trigger; it means your team members aren’t using your CRM’s full potential.
Again, this is all about experimenting and learning, so as you come across an underlying issue… it’s better to deep dive into it & find out the perfect solution on a long-term basis.
Focus on Performances that Matters
Some businesses might focus on lead response time, while others might focus on some other parameters. Not every parameter weighs the same for every business. So, pointing out the key parameters is a must for every business flow. Below mentioned are some of the key parameters that should be considered:
- Sales goals achieved
- Won Vs lost
- Total leads conversion rate
- Average customers on sales pipeline
- Customer lifetime value
- Customer retention rate
- Growth rate
You’d want to evaluate a number of teams and individual activity parameters too. These could consist of a number of sales calls made and the total number of emails sent, also the amount of time your team is spending on each lead or the total number of meetings the sales team is handling.
Once the identification of the key parameters is done, the next step is to find out a simple tool to track each of them. They key is to handle this smartly. And in this 21st century, there’s an app for everything.
What’s your thought on measuring a sales team’s performance? Leave your comments below.