Sales performance management is critical to your sales process, and ultimately, your success as a company. Read this blog about the importance of SPM to learn why it may be the perfect solution to complications within your operations.
Peter Drucker, or "the founder of modern management," once said, “What gets measured gets managed.”
This means that measuring activity is the first step to transforming the activity. We cannot improve the process until we establish a clear baseline.
Corporations possess a tremendous wealth of data -- especially related to all things sales: contracts, invoices, quota, territories, products, commission payments, etc. The trouble comes from finding a way to collect this information and make sense of it. Again, we must first establish a baseline if we hope to improve.
In today’s marketplace, there are a number of SPM software systems that help make sales data organization possible. They will compile your sales data and help make sense of the sea of information. By capturing and measuring activity related to sales via SPM Software, a baseline is established. From there, there are numerous ways to slice and dice the data!
Measured data gets managed—so what are some ways in which to Manage Sales Performance?
- Improved Coaching: Performance evaluations become more transparent, accurate and clear. Objectives can now be set based on hard data—and all parties will know if the goal is met or not. Achieving success is much easier once everyone is singing off the same song sheet
- Improved Forecasting: Predicting the future becomes much easier when you have a clear view of the past. Ensuring accurate forecasting allows for better sales strategy and planning.
- Improved Territory Management: Assessing proper territory alignment becomes possible when Sales Data is organized. With correct territory assignment, sales reps will have a clear path to success
Learn how you can get started adopting Sales Performance Management today—download our SPM Workbook.
This piece was originally published on the Canidium blog—view it here.