Sales KPIs. Love them or hate them, they are part of every sales manager’s toolkit. Managed well, they will lead to high performing teams, large revenues and big bonuses. Managed badly, they create bitterness, resentment and a disgruntled sales team.
In this blog, we look at 5 strategies you can use with your team to ensure they embrace their sales KPIs and are in top position to smash their goals.
1.FIND OUT: WHAT’S IN IT FOR ME
KPIs are present in organisations as a way of tracking progress towards the end goal. The key point is that if your team hit their KPIs, there is a likely chance they will hit their goals.
This message sometimes gets lost, however, as people grumble about KPIs without realising they are there to support their success.
When entering the conversation of KPIs, a great place to start is through understanding what it will mean for your team if they succeed.
In your next team meeting or 1-1, get each person to write down the following:
“What is my goal for the quarter?”
“What are my targeted KPIs?”
“What will it mean to me if I achieve this? How will my life improve? How will I celebrate my success?
Seeing and linking the KPIs with a personal achievement goal will increase motivation, focus and drive. Encourage them to put these answers somewhere they will see them daily; in their planner, diary or on their computer.
2.GIVE THEM A REASON
Problems arise when salespeople believe the KPIs have been created “on a whim”, with little or no logic. They see the KPIs merely as numbers and so, to hit them, go on unqualified meetings and make pointless phone calls just to bump their figures up for the end of the month.
Speak with your seniors and colleagues to understand the logic behind the KPIs. Discuss the reason those KPIs are in place with your team, along with some examples and success stories, and they will be much more likely to jump on board.
3.FOCUS ON HOW TO ACHIEVE THEM
There is nothing more demotivating than to be given new targets with no support.
By following the first two steps, your team will understand what their KPIs are and why they are important. The next thing to focus on is the how.
Work with them individually to map out the following:
“To hit my goal/KPIs, what are the three key areas I need to focus on?”
“In those key areas, what are the three actions that will enable me to complete this?”
To hit my goal of £80,000 new biz per quarter, and my KPI of 16 face to face meetings per week, the three key areas and actions I must take are:
1) Increase appointment conversion by 20%
Make 30 calls per day, and qualify before arranging meetings
Do a course on selling value to refine selling skills
Re-write my proposal template to demonstrate a more compelling value proposition
2) Improve my time management skills
Listen to a book (in the car on the way to appointments) on time management
Create a time and territory management strategy
Reduce my number of emails from 100 to 40 per day
3) Build a great relationship with my telesales person
Organise a monthly strategy session to discuss new focus areas and techniques
Endorse them for their hard work to their manager
Get them lunch once every two weeks
4.SET DAILY TASKS: THE ONE THING
Once they are aware of their three focus areas, create a daily habit in the team where they ask themselves this question:
“What is the one thing in each area, that I can do today, that will have the most impact on achieving my goal?”
The one thing I can do today in each area, that will have the most impact on my goal is:
• Make 30 calls to quality prospects
• Download a good time management book on Audible
• Organise strategy session with Jim (telesales) for next Thursday
Don’t wait until the end of the quarter to review their progress.
Review their “one thing” whenever you speak to them. On a weekly basis, get them to talk through their activity and their pipeline. Ask them to project the outcome of each opportunity and get them to commit to the percentage that they believe that the prospect will close.
Support them with their key focus areas and play an active part in enabling them to hit their sales goals.
In summary, talking about sales KPIs is often viewed as a challenging conversation; tinged with grumbles and unrest.
However, through positioning KPIs in a strong light, offering clear support and focusing strictly on achievement, you can inspire your team to regard them as a roadmap for success.
Want to support your team in achieving their sales KPIs?
Contact us to see how we can help…