How to Track the Sales Performance of Your Reps
The backbone of any equipment dealer is their sales reps. They are responsible for both taking leads and prospects over the finish line and converting them into customers, as well as nurturing current customer relationships and encouraging them to keep buying from you. Without an effective overall program and sales team, you won’t create new customers, and current ones will
end up leaving you for the competition. The Sales Rep works with his team which includes the marketing, equipment, parts, service and, and support team.
Measuring sales performance is especially important for ensuring that your reps consistently meet their goals and that any issues are fixed as soon as possible. That’s where our partner, Zintoro, comes in. They will complete a sales performance analysis, so you can see how well your individual team members are doing, as well as identifying the target markets, products and the needed support teams at each branch and departments
What is a sales performance analysis?
Zintoro’s analysis will give you an accurate picture of how well your reps are hitting their targets for key sales metrics:
- New customer conversion rates
- Customer retention rates and sales and transaction growth with retention
- Customer purchase frequency
- Customers at risk of being lost
- Customer contact programs and ROIs
- Overall revenue and gross revenue
- Customer satisfaction
- Accurate forecasts for revenue, transactions, customers, and gross margin
You can also see where they are falling short in comparison to other reps and have a better idea of what the issue may be. For example, if their initial conversion rate is high but retention rate is low, then it might mean that they are not following up effectively or consistently. Their sales metrics reports show exactly who you need to follow up with and when. Individual reps can also see how they perform compared to their colleagues, which can help motivate them to improve and work with their support team and branch departments to improve results.
Why understanding performance matters for your business
Sales rep tracking is important, because it provides managers a quick view of who is not performing and the steps that can be taken to make it better. Recognizing the most critical sales metrics helps managers set benchmarks for the team and then quickly see whether individual salespeople are achieving them or not. Without tracking sales performance, you won’t have any idea if your team is accomplishing what is needed to meet plan, or if there is an issue that must be fixed to support the sales team.
The earlier you recognize and understand sales metrics, the more time you’ll have to make corrections, put team members on action plans if required, and solve problems before you start losing customers. Zintoro’s forecasts for the future 12 months are consistently >96% accurate.
Request your sales performance analysis today!
Once you know the sales metrics and how well your team is doing, Zintoro will identify what actions to take that will have the most impact on customer engagement, customer retention, and growth. The suggested actions tell you exactly what needs to be done to improve sales performance.
If you want to start sales rep tracking and improving performance, or you have a question about which sales metrics are the most important, contact Zintoro today.