Sales Performance Management
Understanding what makes a sales person successful is critical. Without it, you’re basing decisions that impact revenue on nothing more than guesswork. Hiring a bad sales person can cost hundreds of thousands of dollars in lost sales. Inefficient onboarding processes introduce unnecessary delays in the time to your new hire’s value. But the biggest challenge with any sales force is understanding exactly what incentives drive successful selling behavior.
Sales Performance Management Challenges and Solutions
Challenge: Getting Your New Hires Productive Fast
Often your new hires have to get certifications, pass tests and learn new systems and processes before they can really contribute to your team. In the worst cases, these milestones languish until the new hires have to be let go, starting a new round of expensive recruitment. How can you track progress, establish accountability and ensure success?
Solution: Create Workflows and Processes to Ensure Productivity for New Hires
As your employees earn the certifications and learn the processes they need, these milestones are automatically recorded so their managers know. Workflows manage the employees through each step until they are ready to contribute fully to the organization.
Learn more about optimizing new hire productivity
Challenge: Measure Sales Rep Performance with Different Responsibilities
Today at CallidusCloud, we define a territory as a set of accounts – segments, industry verticals and geographies – with products as a cross section. As we like to say, no territory without a quota and no quota without a territory.
Solution: Establish Quotas and Territories to Measure Performance
By defining a territory as a set of accounts within a certain industry and size, you establish which products are sold and how to set quota. Sales quota and territory management software that refines business practices for territory sizing and balancing can add over 5% in sales from existing resources.
Learn more about establishing sales quotas and territories
Challenge: Getting the Right Mix of Compensation for Sales
Compensating your salespeople too much and you blow your budget. Compensate too little and your best producers will leave. You have to find the right mix of base compensation, stock and incentives to optimize performance and revenue. Is there a system flexible enough to do all that?
Solution: Build Variable Systems for Incentive Compensation
Set goals for sales and marketing that are aligned to support revenue objectives. Automate the calculation and payment of bonuses and commissions that reward the behaviors you have recognized. You can motivate your sales force even more if you rapidly communicate new compensation plans and spiffs to the field. Gain real-time visibility into actual performance across your enterprise so you can continually improve performance.
Learn more about incentive compensation
Challenge: Instilling Best Practices in Your Employees
Training courses are great for transmitting information. Once employees are away from the training environment and back at work, they’re essentially on their own for applying that knowledge to their jobs. How do you make information stick or instill individualized processes and best practices to make employees successful in real-life situations?
Solution: Coach Your Employees with Processes and Tools for Success
The right system can identify development requirements for individual employees, and automatically suggest relevant training courses. Each manager can track key metrics and use them to coach each employee for greater success.
Learn more about coaching your sales people
Challenge: Establishing a Culture of Competition and Accountability
What drives sales people to adopt the behaviors, training and tools critical to their success? Many businesses rely on fear and compliance to enforce improvement programs, often with limited success. So what really works to drive winning behaviors in sales?
Solution: Implement Gamification for your Sales Force
An effective gamification system simplifies complex tasks into smaller objectives, communicates goals clearly and provides instant recognition for achievements. By tapping into the inherent competitiveness in people and leveraging social technology, gamification enables businesses to motivate and encourage sales people across the entire organization.
Learn more about gamification techniques