Results MUST be measured reviewed.
Now it is VERY important when measuring sales results to remember that you’re looking at what happens NOT if you get what you want!
Don’t get me wrong, we all want the answer to be yes… We want the order, but when looking at results please be open to whatever the answer is.
Only by looking at the numbers dispassionately, can you optimize results by turning the data into information, and information into insight.
Sometimes we don’t spend enough time measuring the input of sales effort and activity.
It is important to look at BOTH.
Which brings us to the HOW of looking at your results.
> benchmark (at least) allows you to show revenue numbers for where you are today. It gives you as the ability to choose a quickly obtainable first objective.
> increasing (total – adding up) is another way to look at the key metrics is with a total you are adding up (or subtracting out) activity or results to see movement.
> Another option to look at “increasing” is a year over year number. The view of the same time period from last year as your comparison point.
> against target/goal as a percentage is the typical sales orginization’s view of your actual number divided by the stated revenue goal.
Never forget to compare goal – forecast – actual.
The timing of your measurements is important to consider as well.
I’d challenge that only looking at sales effort and activity on an annual basis isn’t frequently enough…. YET daily is probably too often.
For daily activity, put a weekly check in for 10 minutes in your calendar for each person on your team: perhaps viewing their activity against both your benchmark of how much sales activity they did last week AND the amount of time they forecasted they’d would spend.
The frequency of your revenue measurement will depend on your business; I’ve seen weekly – monthly – quarterly – annually, along with a combination of several timeframes used effectively.
If we want them to focus, we can’t overwhelm them with too much detail. Choose a combination of bright spots and areas of concern for your 10 minute conversations (DON’T just send an email out, talk with the people on your team!).