Exceeding Quota with Data-Driven Sales Management
Maximizing Reps Sales performance is the number one objective for Sales Leaders. We have published a step-by-step guidebook that does just this – Maximize Sales Performance. But in short, the following details what every Sales Leader needs to know like the back of their hand.
Prior 1:1s with the reps, I did what I could in pulling as much pipeline information and history as I could – this was a lot of work and I didn’t trust the information. The various ways deals were closed or manipulated or the lack of sufficient information always seemed to be a problem for my reports. Without a consistent process, what one rep said was a 50%, another might say is 75% – there was a lot to adjust to. With so little time and so many reps to strategize with – it left out the potential to really maximize the chance of winning the deals and to help develop the non A-players. That 1:1 time could have been spent so much better if the rep and I had a head-start.
Having the proper sales management is a great way to increase sales opportunities. Which breaks down into the following 5 steps:
- 1. The Number
- a) Predict what will close in the pipeline
- b) Predict any additional pipe that is yet to be generated and closed within this sales period
- 2. Cycle Time & ASP
- a) Determine how long does it take to win a deal and what is the Average Selling Price (ASP)
- 3. Confirm the Pipeline
- a) Build practices that will allow you to look upon past quarters and find consistency
- b) Know the composition of the pipeline and what happened to it each quarter
- 4. Metrics to Help Reps Improve Performance
- a) Look up certain metrics to set benchmarks for your team
- b) Example: Are we winning commits?
- 5. Tracking Status
- a) Follow up, consistency is key!
These strategies will help blow out your number and get the entire team exceeding quota. Using these data-driven best practices, you’ll be able to keep score, react in time and have confidence as you guide your team. Again, there is a free guidebook on this here – I encourage you to download it. Side note – CSO Insight’s, Barry Trailer has an incredibly insightful blog with research that identifies the “Silver Bullet” to increase quota attainment.