Cost and Time Aren’t the Only Ways to Measure Sales Efficiency
[vc_row][vc_column][vc_column_text]An important part of any team manager’s role is to measure the efficiency of his team and the effectiveness of their methods. There is no easy way to measure efficiency or to figure out who your best sales representatives are. Should you measure how much it costs to acquire a new customer? Or look at the number of hours each sales representative spends in a day selling? Even then, are you actually getting an accurate picture of sales efficiency?
You could take into account the cost of a sales call. This looks at how much it costs you to acquire a customer vs. how much revenue you make off that customer. If the gap is narrow, then it is clearly costing you too much. However, you need to take into account the nature of the dealings as well. There is always a difference of opinion when it comes to what constitutes a ‘sales call.’ Some prospects are comfortable doing all their dealings over the phone, while others may insist on face-to-face meetings. There may be other prospects who are geographically far away and sales representatives spend more time and effort wooing them. This will bring in varying formulas for calculating costs.
Another way to check the efficiency and effectiveness of your team is to look at the number of hours spent on actual selling. This again, can be misleading – since business can be conducted face to face, via email and telephone, response times may vary. Plus, some prospects may just take longer to convince or to get in touch with. Therefore, looking at only cost and time factor cannot give you a clear picture of sales team productivity.
As a manager, you not only want to know which sales representatives are doing a good job, but what selling formulas and steps are clicking with prospects and customers. With Salesvue, identifying your best sales representatives as well as best practices becomes easier. Salesvue’s logging tools provide you valuable data on conversion rates, call metrics, as well as other information that helps you identify your best sales reps. And, for sales representatives, Salesvue’s one-click call logging systems helps them save over an hour each day in logging activity. Jesub makes it easy to log calls, track leads and generate fact-based sales forecasts. You can identify the touch-points and steps that work best for you and recreate those to close deals. Schedule a demo today to learn more.[/vc_column_text][/vc_column][/vc_row]