> How to create a sales process ruled by metrics and measurement.
How to create a sales process ruled by metrics and measurement.
Is it possible to create a sales process ruled by metrics and measurement and if so what would that look like? - by Community Mailbox
What exactly does that mean "ruled by metrics and measurements"? - by libbycop
The automotive sales industry has had this process for years, unfortunately the process has ejected some talented people out of the system.
The process in a car yard looks something like this:
Independant count of leads, walk in, phone and email allocated to each sales person. Collated on a spead sheet. Closing rate, gross margin, road test, finance, trade ins, client contact info are all kpis.
For instance phone inquirys that leads to a defined appointment will give 2 sales to every three appointments with a competant sales person.
Walkins will give 1 sale to 5 unqualified walkins.
Roads test should give 50% of sales
Toyota measure time spend with a client as well as many other kpis determined by the dealership. There is a dramatic reduction in sales leakage but many sales people cant work under the system. They forget that they come to work for 40hrs plus a week and the boss needs a return on his investment. A professional sales person relishes the challege and is able to use the information to identify their weakness and tsregths that they can play to. Bad managers just use it as a big stick to cover their own incompetencies. - by Jeff2155
Metrics likely refers to a way of gauging sales methods/techniques and results. Just the analysis of data really, which all large sales organizations worth a grain of salt keep.
Without a doubt the best research ever done in terms of measuring results from techniques used was by Neil Rackham who was hired as a psychologist by RANK XEROX
(Xerox did not own the rights to their own product outside of North America, Rank Corporation bought that from them and made a zillion dollars. In fact it cost Xerox $660 million to buy back a sizable minority share of RANK XEROX in the mid 60's)
Neil sent on-call professionals to chart all techniques used by REPS on calls, including probing for needs, supporting needs, number of close attempts on the call, attitudes displayed by prospects and so on - all of this came originally from Xerox Learning Systems Inc in the U.S. Neil went on to publish a book called SPIN Selling, which is a major fraction in sales.
I will not comment on SPIN directly but will say that I am offended by Neil's YouTube stuff - particularly when we says "that does not work any more" cause he provide mathematically that those sales reps with a tendency to be pushy were not as affective. my offense is simple; it never worked well, which is not to say that pushy sales people never earn money in sales, the law of averages even works for them!
Had Neil simply stated what he learned, which is this was what the moist effective sales resp do " ______ " then I would never have been offended. And, of course, had he gone that route then there were never have been a need for the book and thus he would likely not have reaped as much rewards from his life's study, so ... !?!
Look, Neil Rackham did not start a career in sales. Need I say more? Okay, if you are not getting the point; he was and is a psychologist who more than likely lucked out being in the right place at the right time with the right degree when RANK XEROX could not figure out what sales reps in Britain where not doing as well with the same product as the ones in the States.
I do not wish to take away from what was done. They proved a whole whack of stuff
– none of which surprised me, due to being weened on sales training by a father who was a sales master –
that took the old useless opinions out of the game, which is good. But they also missed on a lot of subtleties, unfortunately.
All we need to have a winning view of this profession, apart from attitude, is the last 5 decades of sales training history everything you and I need has already been developed. Forget the idea of reinventing – start today with the concept of mastering what is already known. That is hard enough, trust me. You do not need the added burden of also trying to find the missing link that is not there already.
Look, J. Douglas Edwards was teaching insurance guys to make $100,000 a year in the 60's!
The equivalent today is more money than most people can spend in three life times. So just go get it, stop worrying about “what does not work today” and start learning how to work with human nature. - by EnormousEnergy
What do all winners have in common? The answer may surprise you.
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