How Sales Managers Drive Higher Earnings through Rich CRM Data (Part 4 of 5)
Over the past few weeks, I’ve discussed the link between CRM adoption and sales compensation management, and how to get the most value from social CRM. I’ve also shared four strategies to boost CRM adoption.
Today, I’d like to share a section from a recent ePrize white paper—How Today’s Sales Managers are Creating Highly Motivated & Successful Teams—that describes how winning sales teams are leveraging their CRM to track and use sales metrics to drive sales teams to higher earnings.
As the white paper explains, psychology plays an important role for sales managers in coaching, training, and managing sales teams. Sales managers today are learning to leverage sales data and metrics to create a sales culture of high achievement that not only has the potential to attract and retain top performers, but also turn middle players into top-tier assets.
Given today’s selling environment, in which up to 70% of a customer’s purchasing decision is made online without talking with a sales rep, sales managers of competitive teams are tapping new technology and processes to identify which specific selling behaviors drive higher revenues companywide. They then work to focus their sales teams on those behaviors with motivational initiatives, including compensation plans, sales contests, and incentives.
Take Hubspot VP of Sales Mark Roberge, who used metrics and analytics to grow a team of 60 salespeople with 2,800 customers in just three years. For Mark, CRM was a competitive differentiator to mine sales data for the purpose of identifying winning metrics and creating processes and incentive programs (sales contests, etc.) to support them. With his CRM dashboard, he easily tracked activities and fostered effective team collaboration.
Often, as Bob Marsh, General Manager of ePrize’s Sales Contest Builder app points out, the key is knowing which incentives motivate their team most—some of which you might not guess right off the bat.
Curious yet? I recommend downloading the ePrize white paper. It shares proven strategies for:
- Creating a sales culture that promotes achievement
- Coaching effectively
- Promoting the right behaviors, such as CRM adoption
- Implementing motivational initiatives, such as contests and competitions
Do you know how to rapidly create a winning sales team that hits revenue goals and stays highly motivated?
2015 Sales Compensation Administration Best Practices Survey
Over 100 companies participated in Xactly’s inaugural Sales Compensation Administration Best Practices Survey and provided us with information around the processes, approaches, and technologies they use to design and administer their sales compensation programs.