On our Mingle Monday hosted on 16 March 2015, we discussed the Secrets to Measuring and Managing Sales performance with a panel of 20 Belgian Sales and Business Leaders.
During this interactive and interesting session we offered with my colleague Thomas Donck, Partner at Minds&More, a different vision of the sales manager’s role and presented how the Sales Management method “Cracking the Sales Management Code®” can help sales managers drive the relevant sales behaviours of their teams and deliver better sales performance.
Here are 5 key takeaways from the Best Practices shared with the participants:
1. Align your Sales Metrics
The research Cracking the Sales Management code® has found 306 metrics belonging to 3 key pillars: Business (finance, customer satisfaction and market share), Sales Objectives (market coverage, sales force capabilities, product focus, customer focus) and Activities (call, territory, accounts and opportunity management). Concentrate on few of these metrics and assess how your team can be managed around these objectives.
2. 50% of the metrics used in Sales Management are related to Sales Objectives
Using the right metrics are paramount for sales leaders. Stop analysing your performance with metrics you can’t directly impact on. Instead, put the focus on your Reps’ Activities: don’t speak about millions to win but talk to yours reps in terms of deals.
3. Most of the Sales Managers do not trust the data in their CRM
If you have a CRM, make sure you sweat the asset! Learn how to leverage the power of your tool by building personalised CRM dashboard. To ensure your data is correct, develop tactics to motivate your team to use the tool.
4. Implement a coaching Rhythm
Fix formal and frequent conversations, meetings and pipeline reviews with your sales team. Find the right balance between coaching and tracking your reps by setting a positive coaching model specifically tailored to your sales force. Thanks to the management rhythm, you will have a clear view on what you have to do and say and your team will know how the Sales performance process works in the company.
5. Develop your Channel Management strategy
Well planned and executed Channel Management is an effective lever to optimise your Territory coverage. This extended reach will come with a lower level of direct control over the indirect Sales Forces. The Strategic planning of your Channel Mix and the flawless execution of your Channel plan are keys to you success.
If you are interested in more tips to better your Sales Performance:
- Join Sales Management Trainings dedicated to Sales Leaders in Diegem and Paris
- Read the first chapter of the bestselling book Cracking the Sales Management Code®