Measuring Sales Performance
Consider your business. Do you have these numbers?
Tip 7 of 7 – Individual salesperson strengths/weaknesses in company product line
It is helpful if you know your salespeople’s strengths and weaknesses when assigning leads because, as business owners, we are assigning leads to get sales. Why not assign leads to the people you know will sell a certain product or service better than another person? It only benefits your company as well as the salespeople. If they are given leads for products and services they are confident in selling, their close rates will increase and their revenues will increase, which obviously affects the company’s bottom line.
On the same token, if you need to be able to assign any lead to any person, then it is in your best interests to see who can or cannot sell certain products and services profitably, if at all. If you see some are selling a certain product or service, while others are not, then chances are it is a sales rep issue. If, on the other hand, no one is able to sell your products and services, you need to re-evaluate. Why isn’t it selling? Do all of them need training? What are your price points compared to others? What are the features and benefits? What separates your company from the competition? Do you have a viable product or service?
In one of our other businesses (a roofing company), we looked at who was selling the different roof types best. We saw there were distinct differences in the close rates of several individuals for shingle, tile and foam roofs. They were all good at something, and not one was great at all. Did we figure we needed to retrain them all? No, our most immediate concern was to get more sales. We simply started assigning tile roofs to one guy, foam roofs to another, and shingle to another. And that made all the difference.
Could knowing that information make a difference for you?
Winners Know Their Numbers!
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Measuring Sales Performance Tip 1: Individual Salesperson Closing Ratio and Volume Per Advertising Source
Measuring Sales Performance Tip 2: Closing Ratio Overall in Comparison to Industry Averages, Company Standards, Goals.
Measuring Sales Performance Tip 3: Cost of Leads Sold per Individual Salesperson
Measuring Sales Performance Tip 4: Contract Size in Comparison with Company Averages.
Measuring Sales Performance Tip 5: Gross Profits on Dollars Sold Including the Cost of the Lead.
Measuring Sales Performance Tip 6: Numbers and Volume of Sales for Self-Generated, Previous Customers, or Referral Business (Unpaid Advertising).
Measuring Sales Performance Tip 7: Individual Salesperson Strengths/Weaknesses in Company Product Line