Vantage Point Crack The Code3/12/2021
Our work is rooted in the application of artificial intelligence technologies to intermarket analysis of todays globally interconnected financial markets, utilizing a powerful, mathematical tool known as neural networks.Examples of Sales Activity metrics: Percent of sales calls made Percent of account plans completed Number of hours coaching per rep Percent of reps using CRM Sales Activity provide primary feedback about the ongoing performance of their salespeople.
Vantage Point The Code Series To IntroduceWere delighted to write a four-part blog series to introduce the research findings from our best-selling book, Cracking the Sales Management Code. Ground-breaking research and insights from the book have transformed sales management thinking within global companies like GE, 3M, Tyco, and many others. In the first blog, we highlight the often ignored truth that you can only get what you want tomorrow by focusing on what you do today. An Ocean of Data Over the past three decades, CRM has vastly improved the measurement and reporting capabilities of the sales function. Today, every sales force has some type of CRM tool which generates dozens of management reports. However, we observe that this increased access to data has not been accompanied by a corresponding increase in control over sales performance. Despite all the data at our fingertips, we still lack useful management insights. Why is it that more sales data has not necessarily resulted in more effective sales management Although drowning in numbers, executives lack a framework they can use to consistently pinpoint problems and proactively manage salespeople to higher performance. If sales leaders had an interconnected system of meaningful performance metrics like their finance or operations peers, they could enjoy the same level of control and manageability. To understand the current state of affairs, we examined 306 key sales performance metrics provided by dozens of global sales forces in a survey conducted along with the Sales Education Foundation. The research was highly insightful, and it revealed a straight-forward framework that all executives can use to better manage their sales forces selling effort. Can You Manage that Metric On first examination of the 306 sales metrics, we observed that each sales force had organized its data in very different ways. Frustrated by the lack of structure the survey had provided, we decided to put all 306 metrics into a pile and attempt to organize them ourselves. After experimenting with several criteria to establish our new groupings, we ultimately decided on a single question to serve as our guideline: How manageable is this metric That is, how much impact can a manager have on a specific metric An example of a manageable metric is the number of accounts per rep. This metric is highly manageable, since a sales manager can easily reassign their sales reps accounts to increase or decrease the ratio. Although many have tried, no sales manager can simply command a salesperson to obtain more revenue, since here are many factors that affect a salespersons revenue production. Using this one criterion as the basis for our undertaking, we soon discovered three distinct levels of manageability into which all sales metrics fell. Directly Manageable Metrics: Sales Activities All directly manageable metrics were related to salesperson or sales manager activities. For instance, sales managers can direct their salespeople to complete account plans for their major customers. Or they can select the types of training they provide to their reps, or the number of hours that they spend on coaching. These are the only sales force metrics that can be managed with any level of certainty and control, because they are the immediate results of actionable decisions by a salesperson or manager.
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