For companies focused on growth, one of the biggest opportunities is improving sales productivity. When the full potential of your company’s sales channels’ are realized, you will not only boost revenue and market share, you will create a high performance organization pulling together for breakthrough financial results.
We review a companies entire selling strategy and seek solutions that not only improve sales but, increase customer satisfaction and minimize any disruptions while change is occurring. As depicted below, we focus on key areas to help improve overall performance.
- Customer sweet spot: Zero-in on your highest-value customers. If your sales force and channels can’t identify which customers are most profitable today, or potentially in the future, then any segmentation strategy is futile.
- Coverage and capacity: Match the right customers and channels. Technological innovations, maturing markets, and more sophisticated buyers have opened multiple routes to the customer. Effective sales organizations choose these routes with careful deliberation. The choice is based on economics, selecting channels that are most cost effective, and that will yield full revenue potential. The ultimate goal is to exceed the expectations of your target customers by delivering your product through the most effective and direct channel.
- Compensation and incentives design: Align individual success with growth. Most executives understand that compensation practices impact their companies’ ability to recruit and retain top talent. Yet surprisingly few companies design compensation packages to support their ability to attract and maintain the highest motivated and most productive employees.
- Revenue acceleration: Stop leaving money on the table. Some of the biggest profit uplift potential comes from selling more and smarter to your current customer base. Two fast ways to boost both the top and bottom lines are tightening up pricing discipline, and engaging in focused cross-selling to the most promising segments.
- Metrics and tracking: Measure what matters. Best-performing companies base their rewards on outcomes. Those output metrics are clear and support specific business goals, as well as also being externally focused and regularly benchmarked.
- Tools and support: Reps’ time should be spent selling. Mobilizing back-office resources to augment field reps’ efforts is a powerful force multiplier. The best sales organizations measure customer facing time, and use internal support to create more opportunities to do so.