Managing your team to achieve quota doesn't have to be a guessing game. Many sales managers and owners share their frustration that forecasting and pipeline management is not reliable enough. Certainly, with the changing economy, this will increasingly be the case. Yet, we can take some definitive steps to increase our confidence level, and identify where gaps are developing.
Let's take a look at the equation. Start by mapping out your sales team's behavior and closing ratios. Once we identify the basic numbers, we can identify the expected results. If we're not achieving these outcomes, then we can examine each of the driving factors.
- Are each of our sales reps making the calls?
If not, is it mindset or technique or resources holding them back?
- What is our closing ratio?
If it's below expectation, it's likely a skill set challenge. Where are we deficient? Creating the relationship? Establishing a definitive path from initial discussion to a yes/no answer? Identifying reasons for buying, the budget and the decision process?
Or maybe our team has the wrong competencies. If we understand the problems, we're equipped to make decisions about how to address them.