Being able to measure and track the efforts of a sales force is a fundamental sales practice. Forecasting and budget projections are an important part of every successful sales system. Sales metrics not only measure performance, but also create incentives and goals to be achieved. Setting sales activity goals that are logically and realistically aligned with the sales system ensures that appropriate expectations are being placed on the sales force.
Consilium helps develop performance metrics and goals that are aligned with the sales model, and the cycle and supporting processes. Performance metrics help individual sales people and management create goals that are realistic and attainable. If these metrics are not aligned to the sales system as a whole, then management expectations will be unrealistic and therefore may be unattainable or even worse set too low or too high.
Our step-by-step approach to Sales Performances Metrics & Goals looks like this:
- Review Sales & Marketing BI data to identify lead pool statistics.
- Develop conversion percentages within each sales cycle milestone.
- Assign “probability” percentages to each sales cycle milestone.
- Develop appropriate sales call activity definitions and levels.
- Run lead pool statistics against call activity levels to validate feasibility.
- Develop appropriate reporting tools and metrics to manage the sales system.
What are the benefits?
1. Ensure sales resources are performing the tasks required to succeed
2. Identify problems before they occur
3. Provide practical steps and activities designed to increase the likelihood of success
4. Identify why problems occurred
5. Accurate forecasting and quota setting