Increase Efficiency By Implementing Sales Tracking

Sales TrackingCompanies can learn a significant amount of industry information from the business that they did not receive. By studying failed opportunities, managers can determine the appropriate strategies to implement in the future.

Sales management teams may want to consider setting up an effective tracking process in order to learn important lessons about employees, value propositions and competitors, according to Inc.com.

A good manager will suppress the desire to ask why a sale did not occur and will instead employ a strategy to determine which aspects of the call went well. Positive reinforcement can lead to improvement, as employees may not respond well to negative criticism.

Instead of asking why not, sales management may determine which parts of the call could have gone better, in order to reduce negativity.

Managers may want to implement a win-loss template to monitor their sales team. This can act as a written scorecard for the employee, and will rate their performance in each client interaction, according to Inc.

The scorecard would be given to clients, and could have three specific areas that would be rated by their representatives. Understanding of the account, knowledge of the business issues and grasp of the technology, are some of the possible attributes that could be rated by the customers, the business website reported.

Feedback about sales representatives is vital to the improvement of any good department, and the client, especially those who did not give their business, may be the most honest about the performance of the employee.

The timing of the feedback is essential, as a win-loss analysis should be done within two to four weeks of the attempted transaction, Inc.com reported.

While customer feedback may serve as an excellent education and motivation tool for representatives, managers should also try and implement the latest technology into their departments. By using new programs, along with a performance scorecard, employees will have the latest industry strategies at their fingertips.

The Sage SalesLogix software allows representatives to access comprehensive records for companies, which may help to consolidate account information for each sales call.

Past information about each account may act as a company scorecard for the salesperson, as they will be provided with records of previous interactions, known personnel within the business and competitor statistics, according to the Sage website.