Whether you manage a team or just your own selling performance, you can always increase results managing by the numbers. These are your personal performance numbers, a useful tool for growing in any position. But how do you get started?
Managing by the numbers works because it provides a basis of opinion based on actions, not personal opinion. Numbers tell you "just the facts" helping you focus on your customers needs and buying desires.
Many of the best sales books talks about measuring your results, you'll find a couple mentioned at Sales and Marketing Classics, the key is in the numbers. Think about sports, teams and individuals are rated on their performance. Numbers are how you keep score.
Because most sales people don't know their numbers, I'm going to provide a brief overview of what you need to be measuring. But what do numbers show you?
- Where training is necessary for better conversion.
- Identifies performance areas that need attention.
- How to clear bottle-necks keeping you from quota.
- Areas of motivation and personal goal setting.
Selling numbers start with actions and end with ratios, they are based on what creates monetary results (not just those which make you feel like you are doing something.) You need to know:
# of calls, letters, or initial contacts
# call-backs or responses
# of appointments
# of quotes (if applicable)
# of sales confirmed
$ revenue per sale
From these numbers you can determine the skill ratios to track (all of these ratios can be improved by training):
- Prospecting efficiently ratios (number of contacts versus appointments)
- Call back or response ratio
- Ratio of appointments to closed sales
- Average revenue per sale
Your greatest improvement will come from also tying numbers to your selling process, then identifying which numbers can be improve to grow output. Managing your performance by the numbers provides you with a transparent measure of your personal performance.
Once you have numbers in place you can improve on your selling system. Like a fine tuned machine you can ratchet up your revenue volume, grow your company, and increase your take home.
The best thing about tracking your own sales numbers is that you can show a prospective employer that you can produce. Numbers can be the difference between average and above average commission, or even a little higher base.
© 2008 Get That Dream Job, All rights reserved.
Justin Hitt helps business-to-business selling professionals improve their individual performance, earn more, and get more satisfaction from a sales career. Get tools for sales people at http://iunctura.com/
