What Makes A Good Sales Performance Management?
It’s no secret that salespeople rely on CRM systems to track prospects, manage leads, close deals, and follow up with customers. But what happens when you have too much data? Or when some of it isn’t accurate? What if you have a lot of data, but it doesn’t serve your business well? That’s where a sales performance management (SPM) system comes into play.
Prospecting and lead generation: Once you’ve identified potential opportunities, you’ll need a SPM system that helps you identify and qualify them effectively. This means being able to see information such as past interactions, relationships, and company history. It also includes knowing how to analyze this information and determine whether the prospect is worth pursuing.
Sales force automation: When it comes to closing deals, you need to know every aspect of the deal process. From managing documents to analyzing customer data, you’ll have to integrate your SPM system with other applications to automate specific tasks.
Sales pipeline management: To maximize your revenue, you’ll also need to know when and how often to contact your prospects. Having a SPM system that tracks the number of contacts per day and per week will help you plan out your activities more efficiently.
Account management: As part of the sale process, you’ll often need to maintain customer accounts. Being able to view all aspects of these customers, including their status, account history, and any previous interactions, will give you a better idea of how to approach each one.
Customer service: After a sale is closed, you’ll still need to provide excellent customer service. An effective SPM system can help you communicate with customers, resolve issues, and provide feedback.
Lead scorecards: Along with tracking and reporting metrics, you’ll want a SPM system that can calculate and report scores like Customer Lifetime Value (CLV), Customer Acquisition Cost (CAC), Revenue Per Lead (RPL), and Return On Investment (ROI). These scores are critical to understanding how successful your marketing campaigns were.
Reporting and dashboards: Finally, a good SPM system should include a dashboard that shows you key metrics over time. You’ll want to be able to compare results across different sales channels and understand when certain strategies work better than others.
What Is Sales Performance Management Software Sales performance management software helps sales teams analyse and understand how they perform in the field. They provide real-time insights on how well each team member does at closing deals.