As per a recent survey done by Vantage Point Performance and The Sales Education Foundation, global sales leaders consider over 300 metric keys that aids them in effective sales activity management. The strange fact is that about 83% of these metrics are unmanageable. Remaining 17% metrics are crucial for sales activity management as per the survey. What are these manageable sales activities?
- VP-level meetings
- number of sales calls
- new qualified opportunities, etc.
With proper planning and appropriate execution, these sales activities can yield critical and desired business results.
How Does Sales Activity Management Help?
With the help of sales activity management system, managers can keep their team motivated and manage the sales goals, effectively increasing the sales team’s efficiency; hence leading to revenue generation. Managers can keep an eagle eye on all the activities directly from the sales pipeline. You can use sales pipeline software to manage all your deals and related activities.
- Managers who use sales activity management system spot crucial sales activities that are closing the business deals and based on that they create the targets for their sales team.
- With the real-time data from the system manager check the sales team performance, rewarding the top performers, appreciating those who are showing efforts and coaching those who are lacking behind.
- The sales activity management system helps the managers in creating a competitive environment that is friendly and progressive in nature.
Why should someone (entrepreneur or organization) invest in Sales Activity management?
A recent study conducted by HubSpot and Vantage Point have disclosed some crucial facts regarding an organization’s revenue generation structure. The study points out that:
- 25% of sales leaders around the world are not using sales activity management.
- Only 33% of inside sales rep time is spent actively in selling.
- 71% of sales reps say they spend too much time on data entry.
- Lost sales productivity and wasted marketing budget costs companies at least $1 trillion a year.
The facts compiled by the two studies back the decision of having a sales activity management system in place for the sales teams to see their monthly targets as achievable goal.
Implement Sales Activity Management
The Key Selling Activities.
’’Share the key selling techniques and strategies, while setting key activities of your sales team’’
Lay down a deal winning moment, note down the selling roles and fit them in the sales proposal; mapping it down.
After you have mapped out your sales team structure define the key activity for each role.
- For a sales representative, it can be sales accepted opportunities, scheduled meeting, and conversations.
- For your field sales representative, it might be meetings-in-person, proposals sent, VP conversations and discovered opportunities.
Have meeting with your sales team and get their perspective on the ’’key’’ activities. To get detailed insights ask your top performer regarding his daily activities that help him in achieving his goals.
Use all this information and develop a series of activities that help in your sales management process.
Analyze the best practices and educate your team regarding the same so that they become more confident and have a clear understanding of how they are supposed to achieve their sales goals.
Provide a personal scorecard to individual representatives, so they can keep track of their own metrics. This step will help them in making informed decisions about how they spend their time cracking the deals.
Monitor the Metrics and Planning Rectifications
Monitor the activity metrics proactively and review them in the weekly meetings.
Sales activity management system helps a lot in this scenario with features such as pacing calculations, alerts for sales leaders and automated tracking. This data is used for determining the areas where the deals get delayed; hence making it easy to take swift actions and enhance your overall sales process.
Sales Activity Management Generates Desired Revenue
- Ryerson saw a 60 percent increase in profit per month by getting their sales team to focus on the behaviors that would lead to sales
- Staples increased its key selling activities by 182%.
- Procore increased their SDR-originated revenue by 55% and year-over-year new business pipeline by 400%.
- Veritas experienced 130% more contacts created, 105% more proposals sent and 8 times more meetings scheduled.
- Staples’ key selling activities increased by 182% (as part of this, they doubled their number of opportunities created).
- HubSpot saw a 35% increase in the right sales activities and a 31% increase in qualified prospect meetings.
- Paycor grew its number of meetings by 45% and number of key account meetings by 55%.
- Ryerson brought in $27,000 more in profit and 2.5 times more qualified calls per month.
- Fibernetics saw a 30% increase in calls during the time-frames when their sales team is usually at its lowest energy levels.
These were just a few examples of the companies that benefited from Sales Management Activity. Research and stats were provided by Level Eleven in this article about sales activity management.
Sales activities are manageable metrics and hence can be used to manage your sales team process. As the time advances, we hope that more businesses will adopt and implement this sales activity management technology. Salesmate offers a great sales activity tracker that aid your sales team and make them a controlled and focused unit by utilizing all the available resources.
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