December 7, 2017
ISSN# 1545-2646
Numbers Game!
We have all heard that “Sales” is a numbers game. How many dials of the phone equates to actual contacts with prospective customers? How many conversations with prospects turn into meetings which get to proposals? Of the proposals written, how many does it take to get a “YES” commitment?
All of these metrics are necessary to track so that proper expectations and execution can take place to achieve company goals and objectives. By tracking these numbers, you can spot trends earlier in the generation of sales and make corrections to tactics and strategies so that improvement can be realized.
All-star “Hall of Fame” level baseball athletes get measured on many levels. Let’s just focus on hitting the ball. A “Hall of Fame” player typically hits in the very high .290 to over .300 for the life of their sports career. If we translate that to actual plate appearances and getting a hit, we would see that this “Hall of Fame” athlete only contacts the ball for a hit approximately 3 times out of every 10 times they go to the batters box.
This metric does not factor in the number of swings during each plate appearance. If we consider that each batter sees an average of 3 to 4 pitches per at bat and during those opportunities to hit the ball they only hit for a base hit 3 in 10 times then it takes a lot of potential attempts to get to that .300 target average.
During the season, as a players batting average dips to lower numbers, intervention is put in place. The batting coach and player begins looking at film of the swing to pin point subtle changes which could be impacting the end result. Has the stance changed? Has the players eye contact to pick up the pitch changed? Many various elements are analyzed to identify area for targeted improvement. The key here is that the batting average metric helped trigger the process to improve.
As your business finishes up 2017 and rolls out 2018 sales plans, make sure you have the necessary measurement systems in place so you can get input on performance changes. These metrics measurements need to be done all the time to ensure consistency and reliability. You can measure for a month and then remeasure 4 months later. Too often sales teams start out a sales year all revved up and doing the small stuff diligently. As their pipeline begins to fill they drop off the basics and this is when their batting average begins to fall off. If there is not a metric to measure and give indication, then time is lost when an intervention is not taken to help get the person back on track.
This week, take a good look at your sales measurement systems. Are they in place to give you timely information? Are they tracking the correct information? Are they simple enough so sales people will do them and appreciate the feedback they can provide to help them sell more?
No sales metrics for your team? It is time to call JKL Associates at (313) 527-7945 and start putting your sales team at a “Hall of Fame” level production.
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Posted in Assessments, Business Builder, JKLAssociates, Perpetuation, Promise Culture, Purpose, Talent Engagement, Transition, Vision