The Measurement Of Sales Performance
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Sam Miller
May 4, 2013, 6:50:03 AM5/4/13
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Article Title: The Measurement Of Sales Performance
Author: Sam Miller
Word Count: 525
Article URL: http://www.isnare.com/?aid=161191&ca=Business+Management
Format: 64cpl
Contact The Author: http://www.isnare.com/eta.php?aid=161191
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The measurement of sales performance is an essential part of any business. The success of a company depends on its revenue, which depends on sales. To stay in business, you have to make enough sales that you generate more income than expenses. Sales performance entails more than just how much you sell; it also entails how little you spend on generating sales. For example, if you spend twice as much money marketing a product as you gain from selling it, then you need to improve your sales performance. Since there are so many factors involved in sales performance, the measurement of it also entails more than just measuring how much you sell.
A great tool you can use for the measurement of sales performance is sales metrics. These metrics will also help in the creation of goals and incentives. With sales metrics, you can make sure that you place suitable expectations on your sales operations, because the metrics help you set goals that are realistic, logical, and attainable. Otherwise, you may set unrealistic and unattainable expectations, or even worse you may set the goals too low. Metrics can include any measurable aspect of your sales efforts, such as number of phone calls, number of leads, number of hours spent on sales, and so forth. Try to avoid overwhelming your sales department with excessive tracking numbers. Instead, focus on the few metrics of most importance to your business.
Another great tool that can assist in the measurement of sales performance is a scorecard. Scorecards are often written on spreadsheets. A scorecard is simply a template for tracking your efforts in reaching your sales goals. A scorecard is a concise report with a set of measures related to your sales performance. You associate each measure with one or more targets. You can fill a scorecard out as you go, so that you will not only have a report once it is filled out, but also you can determine the pace at which you are reaching your goals. This will also alert you when sales performance is failing.
You will also want to use a benchmark to help you gauge your success and determine where you could use improvement. Sales benchmarking is an important process in sales management. It compares your sales performance to the sales performance of other companies and to industry standards. A benchmark gives you a point-of-reference. It gives you a standard which gives context to your own sales performance. You cannot know how good or bad your sales are unless you have something to which you can compare them. A benchmark is that something. The purpose of using a benchmark is to identify opportunities for improvement of sales performance and also to focus your sales efforts.
Use these general tools and methods to aid in the measurement of your sales performance. Nonetheless, remember that the measurement of your sales performance depends on your industry and your specific company. You want to find ways to best rate your performance, which you can do by finding the variables of most relevance to success as your company defines it.
About The Author: If you are interested in learning more about http://www.strategy2act.com/solutions/sales_metrics_scorecard_excel.htm sales performance measurement, check Sam Miller new web-site.
Please use the HTML version of this article at:
http://www.isnare.com/html.php?aid=161191
*********************** ARTICLE END ***********************
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Message delivered directly to members of the group:
publish-the...@googlegroups.com
*****************************************************************
Please consider this free-reprint article written by:
Sam Miller
*****************************
IMPORTANT - Publication/Reprint Terms
- You have permission to publish this article electronically in free-only publications such as a website or an ezine as long as the bylines are included.
- You are not allowed to use this article for commercial purposes. The article should only be reprinted in a publicly accessible website and not in a members-only commercial site.
- You are not allowed to post/reprint this article in any sites/publications that contains or supports hate, violence, porn and warez or any indecent and illegal sites/publications.
- You are not allowed to use this article in UCE (Unsolicited Commercial Email) or SPAM. This article MUST be distributed in an opt-in email list only.
- If you distribute this article in an ezine or newsletter, we ask that you send a copy of the newsletter or ezine that contains the article to http://www.isnare.com/eta.php?aid=161191
- If you post this article in a website/forum/blog, ALL links MUST be set to hyperlinks and we ask that you send a copy of the URL where the article is posted to http://www.isnare.com/eta.php?aid=161191
- We request that you ask permission from the author if you want to publish this article in print.
The role of iSnare.com is only to distribute this article as part of its Article Distribution feature ( http://www.isnare.com/distribution.php ). iSnare.com does NOT own this article, please respect the author's copyright and this publication/reprint terms. If you do not agree to any of these terms, please do not reprint or publish this article.
*****************************
Article Title: The Measurement Of Sales Performance
Author: Sam Miller
Word Count: 525
Article URL: http://www.isnare.com/?aid=161191&ca=Business+Management
Format: 64cpl
Contact The Author: http://www.isnare.com/eta.php?aid=161191
Easy Publish Tool: http://www.isnare.com/html.php?aid=161191
*********************** ARTICLE START ***********************
The measurement of sales performance is an essential part of any business. The success of a company depends on its revenue, which depends on sales. To stay in business, you have to make enough sales that you generate more income than expenses. Sales performance entails more than just how much you sell; it also entails how little you spend on generating sales. For example, if you spend twice as much money marketing a product as you gain from selling it, then you need to improve your sales performance. Since there are so many factors involved in sales performance, the measurement of it also entails more than just measuring how much you sell.
A great tool you can use for the measurement of sales performance is sales metrics. These metrics will also help in the creation of goals and incentives. With sales metrics, you can make sure that you place suitable expectations on your sales operations, because the metrics help you set goals that are realistic, logical, and attainable. Otherwise, you may set unrealistic and unattainable expectations, or even worse you may set the goals too low. Metrics can include any measurable aspect of your sales efforts, such as number of phone calls, number of leads, number of hours spent on sales, and so forth. Try to avoid overwhelming your sales department with excessive tracking numbers. Instead, focus on the few metrics of most importance to your business.
Another great tool that can assist in the measurement of sales performance is a scorecard. Scorecards are often written on spreadsheets. A scorecard is simply a template for tracking your efforts in reaching your sales goals. A scorecard is a concise report with a set of measures related to your sales performance. You associate each measure with one or more targets. You can fill a scorecard out as you go, so that you will not only have a report once it is filled out, but also you can determine the pace at which you are reaching your goals. This will also alert you when sales performance is failing.
You will also want to use a benchmark to help you gauge your success and determine where you could use improvement. Sales benchmarking is an important process in sales management. It compares your sales performance to the sales performance of other companies and to industry standards. A benchmark gives you a point-of-reference. It gives you a standard which gives context to your own sales performance. You cannot know how good or bad your sales are unless you have something to which you can compare them. A benchmark is that something. The purpose of using a benchmark is to identify opportunities for improvement of sales performance and also to focus your sales efforts.
Use these general tools and methods to aid in the measurement of your sales performance. Nonetheless, remember that the measurement of your sales performance depends on your industry and your specific company. You want to find ways to best rate your performance, which you can do by finding the variables of most relevance to success as your company defines it.
About The Author: If you are interested in learning more about http://www.strategy2act.com/solutions/sales_metrics_scorecard_excel.htm sales performance measurement, check Sam Miller new web-site.
Please use the HTML version of this article at:
http://www.isnare.com/html.php?aid=161191
*********************** ARTICLE END ***********************
- To distribute your articles go to http://www.isnare.com/distribution.php
- For more free-reprint articles go to http://www.isnare.com
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