You most likely do some sort of reporting on sales performance, but are you sure why? You should not spend time on any activity, if the purpose of it is not obvious and somehow helps you achieve your goals. Here are three main reasons for why you should analyze sales performance.
#1 Assessment of your sales strategy
When you analyze sales performance continuously you ensure that you stay focused and on track with your sales strategy. Having a look at the numbers can tell you whether sales reps are spending their time wisely or deflecting from the goals that you have set.
More importantly, ongoing assessment of your sales performance enables you to evaluate your sales strategy over time and adjust accordingly. When you analyze metrics, you will get an indication of whether you are progressing according to your goals or whether you need to make adjustments to meet your annual quota.
There are a variety of tools and technologies that can help you assess your sales strategy and improve sales performance. Applying technology is very helpful in this regard, because it can give you the overview as well as the details of sales performance. Well-known and widely applied examples of such technologies include CRM and Sales Enablement systems.
#2 Informed decision-making
It is commonly advised that you make decisions based on data and knowledge instead of guessing. Analyze your sales performance to ensure that you get the full picture and insight into why performance is going up or going down. Otherwise, you will make decisions based on assumptions, and that may end up having an adverse effect on sales performance. You simply need to know what specific sales activities to improve in order to effectively improve sales performance.
Again, in this big data era, you can implement all sorts of technologies which feed you data that can support decision-making. You can track most activities, but one of the things that is difficult to analyze is what goes on in client meetings. To get this insight, you should implement technology that comes with mobile sales tools: then your sales reps get access to all material at all times, and you can view their activities when they out in the field.
#3 Analyze sales performance to boost sales performance
You are more likely to effectively increase sales performance when you analyze sales performance, because you need to know where there is room to improve your sales process and where you should target your actions to see an improvement.
An effective way to analyze sales performance to boost sales performance, is to have a closer look at you top-performing sales reps: What is it that they do that makes them sell more than others? As mentioned, you can track their behavior with technology, you can also interview them or otherwise acquire that information. Armed with this knowledge you will get a set of best practices, which you can utilize in the training of your other sales reps. In that way, you can apply the best practices to the entire sales team and improve your overall sales performance.
Analyze sales performance with Napp
Napp is a sales enablement platform that allows you to track what your sales reps show at lead, prospect and client meetings. When integrated with your CRM, you can combine data to get valuable insights telling you what your top-performing sales reps do at meetings. Request a demo today and explore how Napp can help you analyze sales performance, so you can start making informed decisions that increase sales.