Sales Managers should concentrate on three crucial elements:
Sales Strategy: Do you know your Total Addressable Market and have you defined a balanced sales territory plan to ensure you target the right customers at the right time; assigning the right accounts to the right reps, allowing you to allocate sales expenditure and effort on exactly what can help you achieve maximum success.
Sales Operations: Do you have an efficient and effective sales team where team members are handed responsibilities that align with their skills and knowledge while being provided with the required training to execute their duties in the desired manner. Is your Sales Management allocating territories, aligning these with challenging and realistic targets, continually motivating the team and providing feedback on their performance towards achieving the individual and organisations goals.
Sales Analysis: Does your sales team know where it stands through clear sales metrics, performance indices and other quantifiable indicators? Can they readily identify the gaps and rectify the mistakes made earlier to ensure optimal results next time? Analysing or reporting the performance of the sales team helps everyone to monitor and improve their tasks and efforts and is therefore one of the essential components of sales management.
How well is your sales management performing?
- Territory Planning – have you aligned your sales team to targeting the right prospects.
- Determining Sales Territories & Quotas – are these set to achieve the best results through a motivated sales team or are they haphazard and unachievable?
- Sales Planning and Forecasting – do you have a well-defined sales process leading to qualified opportunities to aid accurate forecasting and business planning?
- Coaching and Mentoring – continually developing your best salespeople.
- Compensation and Remuneration of Salespeople – does your compensation plans drive the desired behaviours to optimise results?
- Exploring alternative distribution channels – have you considered other sales channels to achieve business growth?