Managing with Sales Metrics
The days of sales management based on guesswork and manually entered data guesstimates are changing – and forecasts not based on data are becoming obsolete. The technology that exists today is too powerful for sales managers not to employ especially when it comes to managing daily activity.
Sales enablement technology allows managers to view their team’s phone-based interactions in real time, enabling them to locate any problem areas their team may have. This also gives managers access to the metrics that will make their team most efficient. Managing with sales metrics is the new standard that successful organizations are adapting with tools that provide unprecedented insights into the daily phone activity of reps.
Managing with Sales Metrics
Eliminating forecasting inaccuracies is a top challenge that managers face today. Recent data by Salesforce reports that only 50% of salespeople base their forecasts on data-driven insights. Traditionally, managers have used CRMS to process leads and opportunities, but CRM is not always the most accurate tool on its own. While CRM can be effective when used to track and organize pipelines, sales managers should constantly be on the lookout for new ways to project wins and losses and get their team to adopt the same processes across the board.
It is incredibly important for managers to have historical and/or comparative data at their disposal to better coach and uncover issues struggling reps may be experiencing. Having access to 100% accurate data enables managers to set expectations— and provides them with the information they need to further coach and train new hires.
The reality is that high performing teams are 2.1X more likely than underperforming teams to have fully integrated data systems (Salesforce). Implementing a sales tool to more accurately manage and train reps is a manager’s best tool to improve team performance. Why?
Tracking and applying analytics to customer calls allows managers to track patterns of rep behavior. From there, specific, successful behaviors can be highlighted and replicated amongst reps. Analytics provided by sales enablement help managers quickly identify the strengths and weaknesses of their reps that indicate long term competence. Further, onboarding time is reduced as managers can provide new hires with data-driven blueprints for success.
In addition to improving management, analytics provide reps with a better understanding of their performance and areas where they need to improve. Having accessible data at their fingertips … and can serve as a source of healthy competition amongst your team.
The bottom line is that, in order to alleviate the challenges of managing a sales team and hitting numbers based on guesswork, it is time to challenge existing and outdated internal process and begin managing with sales metrics. Every time a rep makes a phone call, they are producing data that is yours to use or lose. Sales analytics will allow you to mold new hires into revenue-generating reps, ensure that your team is working towards a common goal, and surpass previously guesstimated quotas with hard-hitting numbers.