A little known fact is that a high number of reps do not achieve their annual target. They fail to deliver the revenue they committed to at the beginning of a year. Statistics show as many as 70% of sales reps do not achieve their goals for the year.
This non-achiever group will include people who could easily rise above their current performance. They don’t, because their performance is not visible to scrutiny by their company. Visibility equals accountability. In many companies sales reps can hide their performance. They are not held to account for the activities and outcomes they agreed to deliver at the beginning of the year. If these are not measured correctly. If their results and progress against the targets are not made visible to the individual, the team and the office, then the rep might assume they do not matter. Further there will be a lack of timely intervention by managers to correct this under performance.
So your looking to improve sales
Organizations seek better ways to engage and motivate sales employees to do more of the business activities that drive company success. Many companies think they set achievable metrics. Unfortunately they often measure their sales reps on lag indicators. This is usually the deal that is won. There are a lot of activities that have to be performed as well in order to progress the sale. Measuring an end state may mean they do not realize they have a problem until it’s too late.
When sales employees are managed correctly, companies can expect to grow the achievement of annual goals to over 81% of sales reps. Companies would also typically have 3x higher annual growth in revenue. Improving the performance of your sales organization and your sales team’s effectiveness as well as efficiency. It increases productivity, streamlines sales processes and drives desired sales activity behaviors to achieve the best results.
Introducing the Dynamic Leaderboard
Dynamic Leaderboards that display sales measures and achievement, particularly if these are displayed on an office TV, take a gigantic step beyond traditional sales management. The best leaderboards are based on technologies which sync data from applications that you use daily. These could be simple as Google Sheets or as sophisticated as leading CRM’s like Salesforce. The defined metrics are about specific sales activities. Managers can decide which metrics are targeted and can also define custom time periods.
Once set up nothing more is required, the leaderboard runs effortlessly. Progress shown on the leaderboard is determined by the sales rep updating these activities in your existing applications or data sources. Updates occur in near real time. Changes in a reps ranking or score are displayed straight away. A healthy competitive environment is developed within the team. This competition drives better business outcomes. The best leaderboards can reinforce good data practices and achievement of individual and strategic business goals.
Your organization lives and dies on the success of your sales force. Leaderboards encourage remarkably consistent patterns of behavior. Sales reps will be engaged, self motivated, and focused on customers and competitors rather than on internal politics. They think like owners and are held accountable. REV makes it incredibly simple for sales managers to setup and run contests that measure activities. It can also measure the progress against their quota goal. Modern sales organizations have dynamic leaderboards in place to be successful and continue to build competitive advantage. Learn more about how REV can increase your sales performance in just a few simple steps click on the link below.