Do you know what sales performance management (SPM) is? If you don’t, this podcast episode is for you!
SPM involves monitoring, analysing, and improving the performance of sales teams to achieve aligned business goals. It includes setting clear objectives, using data-driven insights to track progress, and implement incentive plans to motivate salespeople. In this episode our hosts Mike and Sam are joined by Matthew Blanchard, co founder of Sales Excellence Advisors to discuss the importance of SPM.
During this episode we want you to think about your sales team. Is there transparency, positive persistence, open communication, and a passion for the industry? These are all critical in generating a strong work environment. This is a chance for you as a sales leader to make sure your salespeople understand how to reach their targets, so they perform with confidence and at their optimum.
Who are Sales Excellence Advisors?
They focus on driving revenue growth and long-term success. With over 50 years of experience, their team offers expertise in go-to-market strategies, sales, marketing, and business development. They help businesses achieve their goals efficiently through tailored guidance and expert support.
To learn more about Sales Excellence Advisors
Connect with Sales Excellence Advisors on LinkedIn
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Key Takeaways:
Clarity and transparency in goals: Salespeople need clear, transparent goals with no more than three key objectives to stay focused on success.
Align incentives with team goals: Ensure compensation plans and team incentives align with company objectives to avoid disengagement, especially at the management level.
The role of technology and data: Technology can overwhelm sales leaders with data, making it harder to see a clear path. Gamification can encourage engagement by offering reasons for action.
Short-term incentives over annual bonuses: Annual bonuses aren’t effective for motivating immediate results; monthly or quarterly incentives yield better outcomes.
Inconsistency in sales teams: A lack of consistency across teams is a significant challenge to overall performance.
Building a high-performance culture: Key pillars include transparency, positive persistence, open communication, and a genuine passion for the industry.
Analytical hiring: Understanding candidates from an analytical perspective can help identify those who will excel in a high-performance sales environment.
Matthew’s interview question: Stay tuned to the end of the podcast to listen to Matthew’s top interview question he asked candidates. This is one not to miss!
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