Managers are always looking for ways in which to improve their team’s performance and it’s no different for sales managers.
At present, sales leaders are making use of sales tools. However, if data, fundamental to achieving targets, is not available, the business faces all sorts of challenges.
So, what would be the most effective means of creating motivated and high-performing sales teams?
A sales dashboard offers an easy and practical way of motivating teams. It allows you to share key sales metrics and KPIs from various sources, including the CRM, and display it all in one accessible location. Providing key data in a comprehensive and panoramic format on a single screen allows for the information to be viewed at a glance and can be used to measure and improve team performance – sales goals, total actual sales and future opportunities.
Selecting the right sales metrics for success
Celebrating the success of each individual with the overall team is important when you have the right data as support. Appreciation for individual accomplishments does in fact account for the whole team and encourages all reps to work towards the same goals.
When conducting a team review, the metrics and activities which should be highlighted as attributable to your team’s success would be:
- Increase in total revenue
- Quota is attained
- Average deal size increases
- Boost in the number of sales reps achieving their quota
- Win rate increases
These metrics ensure that your sales reps are focusing on the appropriate sales activities which lead to business-critical goals.
As a way of triggering some friendly competition, you can track both team and individual performance across metrics by creating a sales leader board. Such metrics can include: new monthly recurring revenue (MRR), new accounts, demo calls, expansion MRR, retention and onboarding calls.
By displaying such a leader board visible to the team and wider organisation, crucial information and key goals are at the forefront and accessible. You can, therefore, foster friendly competition between the reps, encouraging engagement and motivation.
Set new objectives using historical data
Intuition or calculations cannot create an accurate representation of sales performance. Using historical data, sales managers can use dashboards to set new team goals or objectives. Historical data can help identify fluctuations during certain periods and help predict the likelihood of desired outcomes.
A consistent area of improvement for sales reps is the call to deal ratio. Traditionally, on average, it takes 100 calls to close 10 deals. By motivating the team, the reps can aim for an agreed average call to deal closed ratio, potentially increasing the ratio and further resulting in accelerating the number of new accounts.
Drive forward with data transparency
Although dashboards can be used to demonstrate what is working within the sales team, it’s just as important to use dashboards to determine what is not working. The insights help diagnose issues quickly in the sales pipeline. Such issues can include low MRR, holes in the sales funnel or underperforming sales reps. If we take the last point to illustrate, having evaluated why a sales rep has underperformed, managers can take steps in addressing performance gaps, providing required feedback, simplifying expectations and focus on what steps need to be taken in order to improve.
Each and every sales representative is different – they all have their individual strengths, motivations and personalities. The highest-performing salespeople are always looking for ways to improve.
By providing dashboard data, management is giving them the full picture and entrusting them to make use of the metrics as a yardstick for improvement. The sales reps can then make decisions on the action required to achieve new goals.
Diversity, empowerment and success in meeting targets can be attained within the team through management’s recognition and nurturing of the individual selling strengths.
Customised sales dashboards direct the organisation towards specific goals through motivation, troubleshooting and optimisation. As a timely snapshot of the essential organisational metrics, you can keep the team informed about what is working and what is not working, address concerns and make improvements.
Furthermore, sales dashboards inspire sales reps to take ownership and motivate them through healthy competition. Thereby, encouraging more engagement.
Creating engaging, compliant sales presentations is an essential skill for all sales professionals.
Follow these tips and you could be on your way to producing more professional, successful presentations. If you would like to find out how to create compliant sales presentations – in terms of both brand and regulations, get in touch with us today.
How can we help!
At LS Consultancy, we offer a complete solution with a range of cost effective, regulatory compliance and marketing products/solutions including Bespoke Copy Advice which is uniquely suited to supporting firms.