Sales Metrics – It’s quite simple, if you measure activity against sales objectives, a company can diagnose issues with the sales message and the sales process. By challenging and then defining the process it will also allow companies to measure individual performance and manage the channel or sales process.
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The benefits of Sales Metrics are obvious, and don’t just apply to the Sales Professional:
• It can provide strategic and trusted data
• Data gathered which can drive strategic and tactical sales decisions
• And ultimately decisions that can lead to increased sales performance
• The right metrics can also define an incentive structure or uncover incentive issues
• Studying results will also measure the efficiency of sales staff and the sales department
• Metrics analyses can also identify issues with the marketing message and strategy
• Or present issues relating to margins, discounting or the market place
The data must be accurate, fact based and trusted. Sales managers tend to use Metrics to measure the effectiveness of a sales rep, it’s time to start looking beyond the obvious excuses.
Start collecting trusted data. Explore the data available and address the higher level issues that ‘Metric Management’ can identify.
Stop blaming the obvious; poor sales staff, the economy is struggling, the banks aren’t releasing capital, budgets are frozen, and so on. Sales Managers and Directors must start to reflect upon the higher level issues that Metric Management and Analyses can identify. Start collecting data, define your company sales metrics, measure and then reassess your sales metrics.
Remember, if you need help with any aspect of your Sales process, consultancy, lead generation (digital and traditional), metrics, motivation, etc. Reach out, send me a mail (email@example.com) or give the team a call.
Dip. International Selling, Cert. Digital Marketing, MSc. BITS, MA Career Guidance