Sales superstars identify what the key performance indicators (KPI) are for their business. Key performance indicators are the business development metrics that are most important in your company or industry. Salespeople obviously track sales. However, there are other important factors in most businesses. Appointments made and kept can show the effectiveness of getting face to face. Dials to contacts to appointments shows how effective a salesperson can be on the phone. Referral asks to referral gets can be an effective way of seeing how well a salesperson is using their client base to increase business. All of these things are smaller metrics that can help a salesperson be effective. Sales superstars have an in-depth system of tracking and measuring which lets them define how effective they are and make changes where necessary.
After identifying the indicators they track and measure them. Their goals for each KPI is written down. On a day-to-day basis they update where they are in reaching their goal. What activity has been accomplished and what results have been netted from it? In this way, they have a constant grasp of where they are in their progress to reach goal. If they are behind, they have an opportunity to tweak their activity. KPI’s are a good way of knowing if there is a problem with what they are doing and where the problem lies. After they meet a goal or miss a goal they analyze what caused the success or failure.
The final step of sales superstars is they evaluate their KPI’s. The information doesn’t sit in a drawer or lost in a file folder. They reevaluate to make sure that they are tracking the right thing. They also keep an eye on the final metric, which is sales. If there is a KPI that doesn’t seem to relate to that final number it is safe to remove it. Tracking is great but can also bog us down. That is why the KPI is so important. Sales superstars commit to tracking these things and recognize value in these metrics. Be a sales superstar. Define what activities you should be tracking and commit to yourself that you will keep a record of those KPI’s. You’ll get a better grasp on what activities are working well, which activities need improvement, or which activities need to be eliminated.