Importance to connect the commercial activities to the objectives
As the month of March comes to an end, many business leaders will be evaluating their business performance for the first quarter of 2019. Leaders will review the classic business result metrics such as the volume sold, revenues and margins realized. They will determine their earnings before tax. All these will be compared to budgets and conclusions made. It will be too late for the leadership team to change these outcomes. The results are what they are – whether good or not as expected.
However, there are still nine months to go. This presents an opportunity for leaders to shift focus towards the elements they can better manage such as leading objectives and the good execution of activities per these objectives.
Business leaders in marketing, sales and operations need to look closely at the progress realized on objectives that lead to these business results. Example for three types of objectives:
- Customer objectives: How much additional sales growth from our existing customers? Did we obtain more share of wallet? Have new customers been acquired as intended? Have we achieved growth in the defined target segments?
- Product objectives: Did we progress on the product/services we had as goal to sell? Was the right mix sold? Did we sell at target prices? Support the launch of a new product/service?
- Commercial capability objectives: Were we able to build the effectiveness of our sellers? Ability to improve their sales pipeline and progress sales opportunities? Was progress made to reduce the sales cycle time versus objective? Was there an improvement in win rates and sales productivity? Have specific skills been reinforced last three months?
It is important to connect the relevant commercial activities to the objectives for the next quarter. Activities to be executed by the team members – be it in marketing, in sales, in service, in project management, ..
“Having aligned activities to objectives and that are well executed will help a company to achieve better business performance.”
Examples of some activities can:
- Reallocating the effort of sales and service teams to different customer types or doing account plans for key accounts (supporting the customer/prospect objectives)
- Defining and executing inbound marketing campaigns to get new leads or progress prospects visiting the website (supporting the customer/prospect objectives)
- Deploying sales enablers and applied training for the commercial team on how to sell the value proposition and defend prices in the market (supporting the product objectives)
- The quality preparation of customer meetings and the right number of meetings to help a sales person fill or progress their sales opportunities (supporting the capability objectives)
- Commercial teams using social selling to position themselves as credible, engaging customers with relevant content and conversations (supporting the capability objectives)
- Quality and frequency of coaching sessions that take place between a manager and their team members (supporting the capability objectives)
All these can help your business to win more as of next quarter. Attend our planned events to help you achieve your 2019 objectives.
Growing so fast that you get lost in your day-to-day operations and are neglecting the long-term vision and strategy to assure you will remain successful? Good thing Thomas Tuytens from Kentucky Horsewear got in touch with trusted advisor Minds&More.
Your company may be at a crossroads with the development of a new service or product. Or you may be confronted with a gap in resources or expertise. Whatever your need, interim management is an effective business solution to assure your business can keep going and growing.
All business leaders would agree that this year has been a difficult one, with a changing environment driving changes for many companies. But what has really changed and how can you best approach these changes in your marketing and sales plan for 2021?
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