The backbone of distributor and manufacturer businesses is their sales reps. Your marketing introduces your brand, product lines, and services to leads and prospects, and your sales people are responsible for bringing them over the finish line and converting them into new customers. They are also a crucial piece of retaining your current customers over the long term, encouraging them to purchase again and again, which is very important for the long term health of your company.
Because your reps form such a cornerstone of your entire operation, it’s critical to consistently measure and track sales performance.
Sales rep tracking and performance metrics allow you to see how well individual reps are doing in comparison to other reps or benchmarks and goals that you have set with them. The sales metrics that are most important for you to track include:
These sales metrics give you a clear idea of how much business your rep is bringing in and how much value they are adding to the operation. It’s important to set realistic and obtainable goals for each of these analytics, and then track their progress towards achieving them with a regular sales performance analysis.
Sales rep tracking matters, because it gives managers a quick look at who is underperforming and what can be done to improve. Understanding the most important sales metrics allows managers to set goals for the team and for each individual sales person and then easily recognize whether they are achieving them or not. Without tracking performance, you have no idea if your sales team is doing what they need to do, or if there is a problem that needs to be corrected.
By understanding the sales metrics and what they mean as early as possible, you will have plenty of time to make corrections, put team members on action plans if improvement is needed, and generally solve any issues before you lose customers.
Once Winsby completes your sales performance analysis, you'll gain an exact understanding of how well your reps are hitting their targets. You can also see where they are falling short and have a better idea where the issue is. For example, if their initial conversion rate is high but retention rate is low, then it might mean that they are not following up effectively or consistently. Individual reps can also see how they are performing in comparison to their colleagues, which can help motivate them to improve.
Once you understand the sales metrics and how well your reps are currently performing, we’ll identify simple actions that have maximum impact on customer engagement, customer retention, and growth. The recommended actions specify exactly what needs to be done to improve sales performance.
If you want to start tracking and improving sales performance, or you have a question about which sales metrics are the most important, contact our team today.