Driving sales and developing your business is always going to be at the forefront of your mind. Actively pursuing new leads, carefully monitoring progress, and regulating success are all vital facets when it comes to tracking performance. But how do you know if your current sales processes are working, or whether they need to change in order to achieve your business growth goals?
Want to know how to gain more customers? Using a sales performance calculator is one of the best strategies to increase sales, while also being one of the most efficient ways to improve sales performance. A methodical way of outlining exactly what your sales team need to do in order to achieve your projected growth, it’s a granular break down outlining the necessary daily activity needed to achieve weekly, monthly and even yearly goals. Once complete, your sales team can work towards realistic, and more importantly, transparent goals to increase customer growth.
Choosing a base point is important. Deciding on how many customers you actually want to win is the best starting point for your customer growth strategy. Using previous figures and existing industry climate is a good way to come up with a realistic estimate. Once you have this, you can work out exactly what actions are required by your sales team in order to achieve this goal.
Next, you need to come up with conversion rates for your calls to conversations, conversations to consultations, and consultations to sales. Again, looking at historical data is the easiest way to come up with an accurate projection of what your sales team can truly achieve. Once you have these figures, you can use them to influence your calculator.
Now that you have the figures you need, you can craft your calculator. Using the formula below as a base can help you determine what you need to do to improve sales performance and customer growth.
Sales Target x (100/consultation to sale rate) x (100/conversation to consultation rate) x (100/call to conversation rate) = Amount of calls required to achieve sales target.
Once you have arrived at a round figure, you can divide it by month, week and day – giving your sales team milestones to work towards. Then simply divide this by the amount of salespeople on your team and you have clear, driven targets to hand down to your sales team. You can also add in or take away a process to reflect your company’s individual sales techniques.
Tip: If your goals include improving efficiency, you can even increase the conversion rates to reduce the amount of yearly calls to see if your team can achieve the altered targets.
Knowing how to improve sales, and ultimately how to increase customers, can sometimes be solved with a simple bit of maths. Although all the leg work still needs to be executed by your sales team – clear, attainable figures can help to motivate them to achieve your defined goals. Through doing so, you can also improve sales performance as a whole, as well as your bottom line.
Want to know how to grow sales for your company? See an example of our sales performance calculator put to the test below in our CEO’s guide, before making your own calculator based on your historic data to help influence your customer growth.
Find out more about our Software as a Service to see how else you can better manage your existing customers.