Marketing is the heart of business and sales is the integral part of marketing. Without sales, you cannot survive in business. Therefore, you should know how to track sales team performance. When you know the statistics it is easy to make a sales strategy and take corrective action.
Why it is important to track sales team performance
Sales generates revenue which is important to pay salaries and bear other expenses of business. The data also helps in future predictions and performance, taking preventive actions or training people if needed. In this article look at different aspects of marketing and sales directly linked with monitoring sales team performance.
Key metrics to track sales team performance
Sales performance metrics may be different for every business but the basics do not change. These sales performance parameters are almost constant for every business. Due to this, anyone can use them as reference or implement as your performance tracking mechanism. You can monitor sales team performance using many methods but there are four standard practices that every sales team uses.
1 – Number of leads
Tracking the number of leads per employee is the first stage to track performance of sales teams. You may not be able to close all the leads but the more you have is better. More than 70 percent of your leads are always in follow up as per our experience. Therefore, you must push your team to generate as many leads as possible.
2 – Follow up
Once you generate a lead, the next thing is to focus on follow up. Most people do not make a decision instantly. They take time and there is a process of follow up. You call them and ask if they have any questions or concerns. There is competition and other sales executives are also doing the same thing. Due to this, you must keep track of follow up. This also increases your client’s interest in the product or service you are selling.
3 – Meeting Tracker
If you are running an business that depends on real time revenue. Or in other words your business is not on autopilot and needs new clients on a regular basis, you must meet a lot of people. Your team will meet the list of people from generated leads. Therefore, you need to track what happened and the status of the meeting should also be updated.
4 – Lead Closure
Meeting people is not enough, you must close or win some of the leads. This is also the last step before the client makes an upfront payment. These are the actual numbers every company considers as sales numbers. Therefore, it is important to track closures for every employee. There is no point in keeping 100 leads with zero closures.
How to track sales team performance
For this purpose we have a software application. If you use our sales team software, you can track the performance of the sales team in a few clicks. You have the leads database, meeting tracker along with the performance reports. You can check the feature list of sales software before placing the order. In addition, you can also register for a software demo and we will share the demo link of software application. If needed, our executive will take you through the real software demo.