Sales Analysis: There’s nothing like it to spur a little friendly competition!
In our company we do quite a bit of advertising, and some of it is quite costly. Because we spend enough money to care about the return we are getting, we pay attention to the results and we are completely open books with our sales reps when we outline our expectations of them. They have access to their Sales Performance Analysis at any time, and they can see how they compare with the rest of the company. They understand that, for the most part, they earn their leads based on performance.
Yesterday I was going through our Sales Analysis Reports that we get from Profit Finder Pro, and I was especially interested in comparing the volume of sales to the costs of the leads (Sales Acquisition Cost) for each of our sales reps. Who was giving us the most bang for our buck?
One of our sales reps has been given preference for one of the radio stations for some time because he has closed that particular station at a higher rate and volume than any of the others. However, about a year and a half ago, we hired another sales rep who has quietly but steadily brought his sales closing percentage and volume up, and now took the lead. Mind you, they are both excellent closers, but the new guy on the block took a substantial lead.
Knowing the competitive spirit of the first sales rep, I called him to my office, and pointed out where he is compared to the one who took the lead. He took a second look. He pursed his lips and walked out the door.
Then he turned his head to the side and said, “That will be changing immediately!”
And I believe him.
He continued down the hall to say that So-and-So is honing in on his leads, and that “ain’t gonna happen.”
Ahhhh, gotta love it!
Nothing like a little friendly competition among the sales team.
This brings me to the point of this whole message: Do you have a way to show your Sales Analysis? Do you have a way to show your sales people where they are in comparison to your expectations? Do you have a way to see whether or not they are actually profitable? Having this can be enough to light a fire under any of them to give an extra push that we all need at times.
You can only know this type of information by having your systems in place, tracking, and putting the data to use.
Track It to Crack It!
Winners Know Their Numbers.