When reflecting on ways to improve sales performance, efficiency and effectiveness come to mind immediately. Most set goals and measure the company’s efforts to reach and surpass them. But what common knowledge exists on the subject of forecasting, scheduling and setting performance metrics? One thing is certain; efficiency in these areas is lacking. Let’s review the facts. Forecasts are accurate only about 50% of the time. Average quota attainment is less than 60%. Only one in every five leads translates into a meeting. Of those first meetings, only one in every eight becomes a presentation. It isn’t surprising when you consider the amount of time reps must spend on non-selling activities.
Understanding and addressing these inefficiencies is the only way to transform them into effective sales practice. In other words, it is the only way to improve sales performance. But first, a successful sales process must be in place. Think of it this way; ‘how’ you sell is equally as important to your success as ‘what’ you sell. If that is the case, shouldn’t equal energy be placed into developing and adhering to a sales process? Defining goals, measuring activities, and analyzing results for separate sales initiatives are useless unless there is a process to manage your overall success.