Effort vs. Efficiency: Managing Sales Rep Effectiveness
How are you tracking sales rep effectiveness at your organization?
Across 355 leading B2B sales teams, sales reps who make 12 contact attempts, instead of the average 8, perform 16% better. While this is an improvement from the average of 5.6 attempts in 2012, closing deals is getting harder, with only half of reps meeting their sales targets in the US.
In addition, a recent study reveals that only 35% of a rep’s time is spent on selling activities, with the remaining two-thirds of their time spent on non-revenue-generating tasks. So, is the problem that sales reps are not putting in the effort, or that their time and efforts are not being used efficiently?
Here at Gryphon, we believe that it falls into the hands of sales managers to ensure that their sales reps are efficient. We also believe that sales intelligence is a manager’s best asset to do so. Here’s why:
Effort: The Visibility You Need
In order to optimize sales rep effectiveness and calling results, first consider the dynamic between effort and efficiency. Efficiency is a measure of effectiveness defined as the production of the desired results with minimum waste of time, or skill.
It is generally understood that if reps make more dials, they will connect with more prospects and likely set more appointments and close more business. However, sales managers should not only focus on volume, but preparation. The rep who understands who to call, when to call them, and what to say over the phone will ultimately be the successful rep.
Further, consider what happens when reps actually get on the phone. Their effort may be there in terms of call numbers, but if their set-appointment ratios do not correspond to the number of contacts they are making, then they are likely doing something wrong over the phone.
To combat this, the metrics provided by sales intelligence easily show if there is a disconnect. From there, call recording and speech analytics can allow managers to pinpoint exactly what reps are saying that makes them either effective or ineffective over the phone.
Efficiency: The Metrics that Matter
A recent survey by CSO Insights found that only 58% of sales reps in the US reach quota. Clearly, rep efficiency is suffering. To measure the efficiency of your sales reps and improve their effectiveness, you must first set goals. Whether these are contact attempts, contact-to-set-appointment ratios, or total number of set appointments, the best way to make sure your reps are reaching these goals is having full visibility into their calling activity.
Subjective data and manually created CRM reports just do not compare to accurate data based on actual call activity. Both quality and quantity are compromised. Instead, data provided by sales intelligence provides managers with complete transparency into the day-to-day activities of their teams and how they are performing against set goals.
For example, managers can look at sales intelligence data and see exactly who reps are calling, when they are calling them, and how many times they are calling them. These statistics allow managers to improve the performance of their reps objectively and coach accordingly. If a rep is struggling, their manager can determine if the issue is one of effort or execution; whether they are calling at the wrong time of day or saying the wrong thing, or simply not making enough calls.
Managing Your Team’s Effectiveness
With sales intelligence, you won’t have to question whether your reps are spending their time efficiently, and whether or not they are effective over the phone. Sales intelligence can encourage reps to put in the effort needed as managers have full visibility into their daily activities.
More and more companies are deploying sales intelligence by the day, so don’t fall behind in a mess of manually created CRM reports and lose track of your team. As a manager, sales intelligence is your #1 tool to ensuring that your team is efficient over the phone, effective at closing sales, and on their way to generating more revenue this year.
To learn more about how Gryphon Sales Intelligence can improve the effectiveness of your sales team, click here.