It is customary to look at sales productivity in terms of no of units sold or the value of billing done or the volume of money collected from the market. Sales performance management is something beyond productivity in sales.
What are the parameters that should be used to monitor Sales Performance?
1. The robustness of the sales funnel
a.
Lead to contact ratio
b.
Contact to Opportunity ratio
c.
Opportunity to Proposal ratio
d.
Proposal to Sales Negotiation ratio
e.
Negotiation to Closed orders ratio
2. The activity levels at the feeding point of the sales funnel
a.
BTL activity (Points of congregation leads to
incremental leads into the sales funnel. E.g. exhibitions, seminars, knowledge
forums etc.)
b.
Secondary sources of data collection for the
Target Group (TG) defined. E.g. Internet, Directories, Competitors data,
sales training etc.
sales training etc.
3. The systematic process of customer relationship management (CRM)
a.
Customer Satisfaction Index (CSI)
b.
Lapsation
c.
Stickiness
d.
Basket Migration
e.
Average Basket Size
f.
Average Basket Value
g.
Recency, Frequency, Monetary Value
4. The Sales Dashboard
a.
No of units sold
b.
Value of units sold
c.
Cost of acquisition of new clients
d.
Cost of retaining old clients
e.
Cost of ensuring customer loyalty
f.
Omnipresence quotient in the market for the
brand
5. Opening new market segments for new business development
a.
Identify new market segments
b.
Conduct POC (Proof of concept)
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