Measuring and tracking the performance of sales teams is imperative for the overall well-being of any company. How do CEOs and sales leaders go about this task?
In this article, you will delve into the world of sales team performance tracking, understanding its importance and impact on your company’s success. You will discover the role of goal setting, CRM software solutions, and both long- and short-term targets in effectively monitoring and improving sales performance.
- Comprehensive knowledge of your sales metrics and sales KPIs is essential in painting a complete picture of your sales team’s performance.
- Effective goal setting and use of CRM software solutions, like Teamgate, can significantly enhance the visibility and control of your sales process.
- Balancing short-term and long-term goals provides a comprehensive approach towards fostering a more productive work ethic within sales teams.
- Tracking metrics such as activities completed, communications, deals won and lost, and future forecasts can offer a holistic view of your sales process.
- Personal conversations and meetings that provide valuable insights derived from performance metrics can greatly improve the performance of individual salespeople.
One of the main talents great sales leaders possess is the ability to see and understand the overall picture clearly. This vision and knowledge of sales performance metrics are the core of a company’s success.
But, what happens if those with overall responsibility don’t have the complete picture? The answer is not good.
This incomplete picture is built from not being armed with the following disciplines:
- Not tracking the sales team’s collective performance
- Inadequate appreciation of both long- and short-term goals
- Viewing sections of the pipeline and not the whole picture
- Lack of streamlining ability
- Not managing individuals
By possessing full knowledge of your sales metrics and sales KPIs, account owners can regain control of that full picture. A smart, and intuitive sales CRM software – such as the multi-award winning Teamgate – can greatly improve clarity, by intuitively tracking and measuring your sales team’s performance.
CRM and sales performance remedies
Goal setting as standard
Setting achievable goals for sales teams is imperative. Setting unjustifiable goals can stifle their abilities. Goals should be set in unison between your sales team, and results gleaned from your CRM software solution.
A CRM like Teamgate allows you to analyse past performance, and to set actionable goals. The CRMs results can offer insights that help evaluate any improvements required.
Sales which take too long to close steal time. Your CRM can offer valuable advice on optimum time-framing – how long a sale can be held in any particular stage of the sales process, or in the complete pipeline.
The long and the short of it
Sometimes it can be overlooked, but both long- and short-term goals have their individual merits. To sales teams and individuals, short-term goals can be fraught with frustration – inevitably there will be bad days and weeks.
For this reason, setting long-term goals can offer more incentive, and a realistic outlook, while helping facilitate a more productive work ethic.
Some sales teams like to set these goals in reverse; if you have a monthly target multiply it by 12, giving you an easier to manage – and less stressful – long-term target. Keep this target in mind, and things won’t feel so depressing at the start of each new weekly, or monthly sales cycle.
As with all sales metrics and goal setting, a capable sales CRM can analyse many factors across the sales process in order to determine the most achievable long- and short-term goals.
The bigger picture
A clearly defined sales pipeline offers managers the visibility needed to instantly analyse the complete sales process. Teamgate CRMs user-friendly interface offers access to the metrics which the ability to measure productivity minutely.
Your CRM should offer the customisable ability to conduct tracking of metrics such as; activities completed; communications; deals won and lost; and future forecasts. All of these individual metrics go towards making up the overall picture.
Keep it running smoothly
Teamgate is a highly intuitive sales CRM which hands sales managers the benefit of automating time-consuming tasks and permitting them to focus on the metrics required for constant assessment, and tweaking of sales performance.
Fully customisable analytics, make all aspects of tracking and measuring the various segments of the sales process, quicker and more productive. Teamgate offers instant access to reports and sales KPIs which once stole much of a manager’s time resources.
Every aspect of your sales team’s KPIs can be automated and measured instantly – new leads, sales volume, client acquisition, stage lengths, communication targets, etc.
The human factor
Meetings which offer no real insight or value, are a waste of time to all salespeople. Your CRM measures and tracks so many components of your sales performance metrics, it would be a shame to waste such findings.
Meetings which offer valuable information, garnered from measuring and tracking your sales teams performance, can offer not just the team, but the individual salesperson rewarding feedback. They can learn from their strengths and weakness in easily understandable charts and illustrations provided by your CRM.
There may be factors involving the individual which lie outside the metrics, these factors can best be resolved and discussed in one-to-one meetings and the presentation of the analytical data.
The best governance for tracking and measuring the success of your sales team can be achieved by the following:
- Use your CRMs reports wisely, but use your people just as wisely. Don’t forget to have those conversations with the individual.
- Setting goals is a collaborative process, involving a connection between your CRM and your people on the ground.
- Don’t forget the human aspect – your salespeople are the eyes and ears of your company, but be sure to keep them engaged in conversation, and involved in all stages of the sales process.
Measuring and tracking sales performance metrics gained from your CRM can help you monitor the health of your sales process anytime and anyplace, and instantly resolve any occurring bottlenecks.
FAQs: Tracking sales performance
Q: What is the significance of tracking sales performance in business success?
A: Tracking sales performance provides insights into how well your sales team is performing, which directly affects your business’s success. Understanding these metrics can help you make data-driven decisions, enhance productivity, and streamline your sales process.
Q: How can CRM software help in tracking sales performance?
A: CRM software, such as Teamgate, offers features that automate the tracking and measuring of various sales metrics. This includes activities completed, communications, deals won and lost, and future sales forecasts. It offers a detailed and accessible view of your sales process, enabling efficient monitoring and management.
Q: What role does goal setting play in tracking sales performance?
A: Goal setting is crucial in tracking sales performance as it provides a benchmark for what your sales team needs to achieve. A CRM can help analyze past performance and set actionable goals, offering insights to evaluate necessary improvements. Balancing short-term and long-term goals also aids in managing productivity and creating realistic outlooks for the team.
Q: How can tracking sales performance benefit individual salespeople?
A: Tracking sales performance can provide valuable feedback to individual salespeople about their strengths and weaknesses. This can be presented through charts and illustrations provided by your CRM, aiding in personal growth and performance improvement.
Q: What are some best practices for tracking sales performance?
A: Best practices for tracking sales performance include using CRM reports wisely, setting collaborative goals using your CRM and sales team input, considering the human aspect in the sales process, and continuously monitoring the health of your sales process to resolve any bottlenecks promptly.