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What is the best solution for increasing sales and tracking sales staff performance?
By: Ed Fox
What is the best solution for increasing sales and tracking sales staff performance? At my company, current sales people are accountable for recruiting prospective sales team members.
Answer:
1. Increasing sales: We do not know what business you are in so we cannot give you any specific suggestions for marketing your business or other ways to possibly increase your sales. If you submit a follow-up question with more information about your business and current marketing plans, we can provide specific information and consideration.
As for marketing methods, business can use various tools—referrals, professional networking, direct sales, direct mail, websites, free publicity, onsite signage, print ads, business working websites, and others. Marketing methods are influenced by the industry, local competition, target customers, available capital, customer base, and other factors. Trial and experimentation is usually required to determine the most effective promotional methods for a particular market. Businesses normally determine from experience which marketing options provide the greatest response at the lowest cost. Business owners test, adjust and measure their marketing efforts to make sure they are allocating their marketing dollars cost-effectively in reaching their potential customers. This type of approach typically applies to any business.
A marketing budget will need to be balanced between various forms of advertising cost (print, direct mail, media, etc.) and price levels. Marketing dollars are most cost effective when they reach a target audience rather than a general population. There is no silver bullet in marketing. With online, print, referrals, and other forms of advertising to consider, a business must break through the clutter of potential opportunities to successfully attract the customers’ attention.
Generally, the best way for a business to evaluate marketing options, formulate a strategy and stick to a budget is to develop a marketing plan.
2. Sales staff production: We are not clear as to whether your sales people are accountable only for recruiting prospective sales team members or also have product/service sales targets; however, a system for tracking sales staff production would be similar for any accountable sales objectives. The basic approach to tracking the performance of sales staff is to establish targets and to compare the actual results against the targets. For example, you may establish targets for the number of prospects, sales calls, and sales closings that an individual should make on a weekly basis and then track the results. The same approach can be used for measuring sales team recruiting activities.
We do not know how many sale people you have or plan to have; however, businesses can develop manual reporting and tracking systems or use CRM, computer spreadsheets, and other electronic tools for sales reporting and management tracking. The type of sales information you want to track and how you plan to use the information for sales management, commission calculations, or other purposes will influence your sales tracking system. You can develop computer spreadsheets to track salesperson activity and performance; however, depending on the number of sales members and other factors, you may need an accounting or sales management software tool to efficiently track each team member’s sales, make calculations, and interface with your accounting records. Your local business accountant or CPA may have suggestions for a sales tracking and accounting system; however, you can research sales staff management software, CRM Applications, and accounting software solutions.
A marketing budget will need to be balanced between various forms of advertising cost (print, direct mail, media, etc.) and price levels. Marketing dollars are most cost effective when they reach a target audience rather than a general population. There is no silver bullet in marketing. With online, print, referrals, and other forms of advertising to consider, a business must break through the clutter of potential opportunities to successfully attract the customers’ attention.
Generally, the best way for a business to evaluate marketing options, formulate a strategy and stick to a budget is to develop a marketing plan.
2. Sales staff production: We are not clear as to whether your sales people are accountable only for recruiting prospective sales team members or also have product/service sales targets; however, a system for tracking sales staff production would be similar for any accountable sales objectives. The basic approach to tracking the performance of sales staff is to establish targets and to compare the actual results against the targets. For example, you may establish targets for the number of prospects, sales calls, and sales closings that an individual should make on a weekly basis and then track the results. The same approach can be used for measuring sales team recruiting activities.
We do not know how many sale people you have or plan to have; however, businesses can develop manual reporting and tracking systems or use CRM, computer spreadsheets, and other electronic tools for sales reporting and management tracking. The type of sales information you want to track and how you plan to use the information for sales management, commission calculations, or other purposes will influence your sales tracking system. You can develop computer spreadsheets to track salesperson activity and performance; however, depending on the number of sales members and other factors, you may need an accounting or sales management software tool to efficiently track each team member’s sales, make calculations, and interface with your accounting records. Your local business accountant or CPA may have suggestions for a sales tracking and accounting system; however, you can research sales staff management software, CRM Applications, and accounting software solutions.
Published: November 26, 2013
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