Just like any part of the business, you need to monitor the metrics to see how your team is performing. With your sales team you can develop a sales scorecard for each rep that looks at key performance indicators (KPIs). These scorecards can help track and improve the performance of your reps.
Unlike a sales dashboard, which shows high-level reporting for the whole sales team, a sales scorecard is personalized to each sales rep and their goals.
Uses of Sales Scorecards
Sales scorecards hold your sales reps accountable, identify top performers, and areas where your sales process can improve. Scorecards should be analyzed on a weekly basis as they provide coaching opportunities.
Scorecards can also help with the gamification of the sales team and drive healthy competition. They should encourage behaviors that drive more sales such as making more calls or improving the qualification process. Sales reps can easily look at their scorecard and see where they need to improve and it provides clear-cut goals in their day-to-day.
KPIs to Use
Selecting the right KPIs to use will affect how effective your sales scorecards are. Good KPIs help you, while bad KPIs leave you simply measuring when you should be revising certain aspects of your sales process.
By tracking the right metrics, your sales reps know where to focus their time. Metrics such as calls made, emails sent, meetings scheduled, proposals sent, deals won and average sales cycle time can all help guide reps to the most success. If a metric is not helping a sales rep work smarter or perform higher, they’re a distraction.
Set Targets
Metrics without context aren’t going to do you much good so make sure you’re comparing the scorecards. You can see use the scorecards to see how your different reps are stacking up as well as if the individual sales member is improving their performance over time.
The most important thing to compare the scorecard to is the overall goals you have set for the company. To determine goals for individual sales reps, work backward with the quota you’re wanting them to reach and what steps they have to take to hit that quota.
With the scorecard in place, you should be able to see each rep’s performance, their performance against their target and their achievement as a percentage. The scorecard can also identify issues in your sales process if every rep has a poor conversion rate on that step, you might be forcing customers through an unnecessary hoop that can be eliminated.
