The most successful businesses and certainly, sales departments have identified their Key Performance Indicators (KPI); individual gateways that directly effect the outcome of a particular process. Then they measure the competency ratios in line with them.
Have you identified the KPIs in your sales process?
A good KPI example in the sales process might be how many times you advance the first sales appointment to the next phase, whether thats a demonstration, a site visit, a survey or a proposal. Another KPI is how many times you gain a new customer once the first gateway is passed. And when you do gain a new customer, whats the average revenue you achieve? Thats certainly an important KPI. Because if your average revenue per sale is 40% less than the average peer KPI, you might want to find out why and take focused action to improve it, as youre leaving money on the table.
And what about the length of a sales cycle in days? Is that conditional or do you have a degree of control over it? If you have a team member that has an average sales cycle 30% shorter than the peer group, uncover and assimilate those best practices out to the rest of the sales team....
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