Motivating your team can be a great way for a business to increase efficiency, sales, and revenue. However, increasing your team’s motivation can be a challenge for some businesses, so it is important to know methods that can help with this. A common method to help increase a sales team’s motivation to perform at their best to meet organizational goals is to have regular sales performance reviews. This article will look into what sales performance reviews are, how to do them effectively, and how it leads to a more motivated sales team.
A sales performance review is the process of a sales manager having an evaluation meeting with sales representatives to discuss their performance, processes, and objectives. It will help management and leadership track how their business is performing towards their organisational goals.
To carry out sales performance reviews with your sales team, you must be able to track their performance in your business. This means you should track things such as the number of customers that are qualified, won, lost, their negotiation times and more. One of the best ways to track your team’s performance is by using CRM software.
CRM software is a very popular method when tracking the performance of your business and sales team. A good CRM software will be able to track and record the performance of your sales representatives in real-time, collecting data on the number of deals they have qualified, won and lost. This data will be presented to sales managers with charts, graphs and reports making it very accessible and easy to analyse. Furthermore, some CRM software, like TEB, will allow businesses to use funnels and filters to closely track each sales representative’s performance in real-time. Want to know more about TEB? Book a demo with us!
When conducting a sales review with your team, there are some tricks and tips you should know to get the most out of the meeting. These are:
Beforehand plan the review – Before you are in the meeting with your sales representative, you will want to plan out the structure of your review. Pick some points of focus for the review and outline what you would like to get out of the review.
Focus on key areas of the sales process – Using the statistics you have for the sales representative, focus the meeting on the key areas of the sales process that may be having a big impact on their performance. For example, if you see your sales representative may find lead nurturing challenging, focus the meeting on this area. As a result, the meeting will be more beneficial for the sales representative and the business as it focuses on areas that can help the business perform at a higher level.
Give guidance in the review – During this review, it is a great opportunity for the sales managers to give added guidance to the sales representative. For any areas that are identified where there is room for improvement, a sales manager is able to give guidance to the team member, telling them how they can try and improve in this area. This will help create a healthy helpful atmosphere in the review resulting in added benefits for the business.
Critique in a helpful way – In a sales performance review, if a team member has not hit the targets that are expected of them, a critique may be necessary. However, this should be done in a helpful way to not lose team morale. Constructive criticism with suggestions of how to help performance should be the angle taken in the review. If done correctly, this should act as a motivator for a sales representative to perform at a higher level.
Set goals and objectives – A sales review should always include the managers setting new goals and objectives for their team members to try and achieve before the next review takes place. This will act as guidance for the sales team to know how they should be performing and give them more incentive to reach this level before the next review takes place.
Ask for your team’s feedback – Performance reviews should feel like a collaborative experience to get the full benefits out of it. Your sales representatives should have a chance in these reviews to give insight into their thoughts, feelings, and challenges. This will help management and team members create a better relationship, increasing team morale.
Schedule a date for a follow-up meeting – As the sales performance review comes to an end, you will want to schedule a follow-up meeting with your sales representative. This is so you keep good communication with your team and will be able to track the performance increases between the first and second sales performance review with your team member.
By performing regular sales performance reviews with your staff, you will gain a lot of benefits. The section will look into the different benefits you will get from sales performance reviews, showing why they are so important for businesses.
Help teams’ skill gaps - A sales performance review can be a great tool to help team members improve. Using the performance data from staff, management will be able to identify where staff members should shift their focus in order to improve performance. This leads to your sales representatives being more productive for your business, increasing revenue.
Increased motivation - A successful sales performance review will result in your sales representatives getting added motivation to hit targets that will contribute to organisational goals. This will increase the revenue and profitability of your business as your staff will be completing more sales.
Increased staff morale - With management creating a helpful atmosphere amongst their team, trying to help them improve in areas and assisting them where they can, your staff will get higher morale, making them more motivated to hit their targets.
Stay on track to your organisational goals - You will be able to alter team structures, team members’ positions and more based on the interactions during the meetings. This will help your business stay on track to meet your organisational goals and grow your business.
If you want to have great sales performance reviews with your sales team using a lot of insightful data on their performance, TEB is your answer. TEB is a sales automation CRM software that can streamline your business’s entire sales process while tracking the data you need. TEBs key features to help your data visibility are:
If you would like to find out more about how TEB will help you enhance your sales performance reviews, as well as the countless benefits it brings to your sales funnel, book a quick demo with us.
