Measures for Success

Source: RainToday

In this article, Ken Thoreson explains how companies can improve sales by keeping a close eye on their sales strategies and paying attention to how they are being executed. According to Thoreson, successful companies look carefully at every aspect of their sales process (that is, the expense of a sale, amount of market share, individual sales success, etc.) to uncover problem areas and make necessary changes.

Thoreson suggests that a company establish clear guidelines and goals, and that its salespeople align their goals with the company's bigger picture – an effort that will not only help a company be more successful, but that will also make it easier to measure each individual's accomplishments. Specific areas to measure are listed in detail for both the company and its sales team, including actual sales vs. goals, win-loss rate per salesperson, salesperson profits compared to overall profits, and new sales compared to total sales.

In addition to tracking accomplishments, Thoreson recommends looking at indicators to predict future outcomes. This way, companies can be proactive about establishing patterns that will most likely lead to success – measurable patterns such as the number of new prospects contacted each week by phone, and the number of in-person sales calls made each week.

For the complete article, read “Pay Attention to the Numbers: Using Metrics to Improve Sales Results.”

From RainToday, www.raintoday.com, March 9, 2011.