Is your “check sales engine” light blinking? Asking a sales manager how the quarter is going typically results in a quick response regarding pipeline, plus the status of a few key deals. This barely scratches the surface of sales performance, and makes forecasting nothing more than a gut check. Sales management must look at more than just pipeline (and associated progression towards quota). When discussing sales performance, more dimensions need to be analyzed.
First – any number must be compared to the same data from last year – just like a 10Q financial report shows performance against the same period in the prior fiscal year. Next, look at the other data points that are critical to a well-functioning sales team. These include:
- Salesperson progress towards targeted earnings (a salesperson’s most important “number” is their earnings, not their quota);
- Turnover rates overall and by teams (watching for unusual spikes); and
- Tenure of the sales force and open position.
Leveraging data from over 1,000 companies, this session presents analysis into the key elements of a effective sales management dashboard; key warnings that are predictive of sales challenges; and prescriptive recommendations on how to manage.