Measuring and upscaling your sales performance

17

DECEMBER, 2018

By Coralie Gak

Today’s Sales Managers go through an evolution of their “métier”. Especially when it comes to leading the sales department. Their teams become more diversified, their buyers become more educated and sophisticated. Companies need to adapt their organization and strategy to put the customer in the core of what they are doing.  Hence, they need to question themselves regularly and adapt their coaching style.  

In this article, we’ll explain how to go through each of those challenges and how to measure and upscale your sales performances.

Step 1: defining value creation for a B2B customer

People get triggered every day by a lot of messages from companies. The first question you must ask yourself (and your team) is: “Are we really meeting the expectations of our clients?”In today’s business context, you don’t have the luxury to be selfish. As a company and leader, you must put the customer in the centre of your strategy and ensure you respond to his needs / challenges with your respective products and services.

To achieve that you must understand who you are talking to (what’s the profile of the customer you are talking to).  Wonder what his challenges / objectives are, so you can respond to those (and create and communicate value).

Minds&More has experts that help companies using the Value Proposition Canvas to ensure they shift from product / service push to product / service pull. They help them to better understand who their customers are and what they are looking for.

Step 2: From value understanding to value pricing & value selling

By understanding what the customer needs / challenges are you can elaborate a real value proposition that responds to those. Now evaluate the value you can create to your clients. The created value can be economic (eg. savings, revenue, travel time etc) but can also include emotional benefits (eg. Peace of mind, sustainability, etc) for the stakeholder you are talking to. Below framework is used to put this into practice for clients. It links the value proposition canvas with value capturing exercise.

Now you know the value you can create. The next step is to define the price point and part of the value you want to keep (value pricing).

In this exercise, as stated previously it’s key to think about the customer first.

  • Capture more margin from high value customers and profitable, incremental revenues from low value customers
  • Stop unjustified price erosion

The next challenge many of our clients face is ensuring sales people understand the challenges of the customer and understand the value your products & services can deliver for them. They must also have the sales skills to leverage those insights.

It’s therefore key to understand and develop the right sales skills. Our key skills to accompany our clients in that shift towards customer thinking, value selling and sales excellence:

  • Understand Business of your customer
  • Listening
  • Questioning
  • Manage Indifference
  • Answers to objections and drawback
  • How to develop an engagement strategy

Step 3: Your role as Sales Manager to coach your team and set up the right governance

As Sales Manager you need to guide your sales team towards sales performance / sales excellence. There are 4 fundamental sales processes to coach your sales people and for which different KPIs can be defined and respective sales routines should be established.

As Sales leader your role is to coach and organize the follow up of the respective activities by putting the right governance in place. This governance will help you to:

  • Support your Sales people in the qualification of opportunities. Example of qualification framework that can be used is SCOTSMAN. It contains some key questions sales people can ask themselves. So you can guide them to focus on those opportunities with most potential to success.
  • Keep an eye on the sales funnel and understand where you could have weaknesses and where you must put efforts.
  • Follow the execution of your pricing strategy and monitor how well sales people sell the value of your products and services.

The last UBA/SMA master class on “Sales Performance Measurement” discussed each of the aspects above. If you have questions on one of the topics above, feel free to send a mail to marketing@mindsandmore.biz. We will come back to you and see how we can help you.

Coralie Gak

Digital Marketing Consultant at Minds&More

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