Defining success and performance indicators
Clearly defining success and implementing performance indicators is a step in the process of building a successful inside sales team that is too often overlooked. Both crucial to the success of the team and the individual producer, they can be measured in many ways. But don’t overlook the importance of having a platform to quantitatively measure this success.
Measuring performance
Let’s start from the top. Decide how your agency is going to measure performance, and make this distinction clear to your producers. “They should know the areas in which they will be graded to be able to monitor some criteria themselves to promote self-growth,” said Eric Bluhm, inside sales manager at Zywave. There are many ways to measure the performance of each member of your inside sales team. Some include:
• Number of unique calls made
• Number of meetings set as a result of unique calls
• Number of new prospects contacted
• Number of follow-up calls made
In order to measure this performance, tools such as SalesPulse are helpful in compiling the information. As a sales manager, the use of a CRM tool creates a layer of assumed management. This hands-off layer of management generates a sense of independence for the new producer, but allows the sales manager time to continue their efforts on their own sales.
Setting realistic goals for the amount of calls needed for the month as well as setting benchmarks throughout the month is also very important. Your producers must know what is expected of them each and every month – and periodically during the month as well. “Benchmarks to meet during each month are a great way to uncover problem areas before they become too serious,” said Eric. He suggests this strategy as a way to stay on top of success and a way to troubleshoot before it’s too late.
Quantitative measuring
A tool such as SalesPulse is a great way for producers to assess where they “should” be periodically throughout the month. Bluhm also notes that there is a difference between where your producers “should” be to meet the minimum of their goals each month, and where they “could” go. It needs to be made clear that there is always unlimited room for improvement. “This all goes back to hiring the right person,” said Eric. “You don’t want people that are going to take the back seat.”
Incentive-based measurements
When it comes to implementing an incentive-based system for measuring the performance of your inside sales team, periodic contests have proven successful. “An environment that includes a little healthy competition is perfect for an inside sales team,” said Eric. “Producers tend to be competitive by nature and workplace competition usually results in increased productivity,” he added.
Possible incentives could include gift cards, prizes or public workplace recognition. Running periodic competitions will stimulate this spirited nature and result in increased productivity. This also helps to break up the monotony that sometimes accompanies a job in inside sales. “The idea is to help your producers as much as you can from getting burned-out,” said Eric. Because inside sales can be very demanding and discouraging at times, break up the repetitiveness with help from incentives.
This is part three in a five-part series on building a successful inside sales team.
© Copyright 2009 Zywave, Inc.