Having clear and actionable sales metrics is an essential part of improving sales performance.
However, many sales leaders struggle with getting visibility into daily sales activities, leaving them with limited awareness into what’s working and what’s failing to win deals. Often, sales managers have little more information at their disposal than win/loss ratios and quota attainment percentages.
With no way to identify areas for improvement, sales strategies are based on guesswork and gut intuition. It’s not effective, it’s not repeatable and it’s not necessary. You can get the visibility you’re looking for through sales enablement.
To measure and take advantage of quality sales metrics, follow this three-step approach:
1. Find a process
In order for sales metrics to be effective, your sales process has to be structured. It’s much easier to identify gaps in a puzzle when all the other pieces are put in place; the same concept applies to sales. Get a basic system that all your sales reps use, then start collecting data cohesively. All sales metrics aren’t created equal, so make sure that your system accommodates the sales metrics that are going to be most effective.
2. Choose the right tools
Once you have a structured system in place, how do you collect meaningful data in order to measure sales effectiveness? There are many great sales enablement tools out there, but there are a few vital features that will make the difference between “a slightly better picture” and “total, clear visibility.”
CRM: The foundation for data visibility, CRM will hold the vast majority of sales data.
Marketing automation: Don’t ignore the valuable information gathered on leads before they enter the sales cycle.
Buyer activity tracking: Identify which strategies and content work with buyers by tracking engagement levels.
Sales rep activity tracking: Know what behaviors are most effective by tracking all selling activities.
Data visualization: Once you’ve compiled all this data, make sure you can interpret it quickly and easily.
3. Apply the data
Once you have visibility into sales, it’s time to do something with it. Use a big data analytics engine to correlate won deals to the activities that made a difference. Those behaviors are the key to improving sales performance and increasing win rates.
If certain presentations perform better than others, then promote those sales resources with your sales reps.
If increasing the number of phone calls made each day correlates to an increase in pipeline opportunities, then gamify selling, providing incentives for the reps with the highest phone call rates.
If sales training reinforcement every two months leads to better sales performance, then start scheduling more training.
In short, find out what works and do it. Keep learning and testing different strategies, now with complete visibility into the effectiveness of each method.
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