Create five performance indicators that could apply for sales manager Lead Response Time When it comes to lead response, speed is essential to increasing sales reps’ odds of success. The data seems to confirm what our instincts tell us -- that prospects equate a responsive company with a good company. Since Harvard’s study on response outcomes showed that sales reps that contacted leads within 1 hour were seven times more likely to have a meaningful conversation with a decision maker, other studies have affirmed the findings.The only question then has been not when to respond, but who should respond. Is some sort of automation such as an email or robo call enough? Don’t kid yourself.
There’s really no substitute for a personal phone call by an actual sales rep. To measure this, you’ll need to track inbound and outbound phone calls within salesforce. com and look at how quickly your team, on average, responds. With few exceptions, try to ensure that your sales team responds within 1 hour. Rate of Contact One thing we’ve learned from connecting call metrics to salesforce.
om is that virtually every good sales manager wants to make sure that outbound call volume is high estimates that reps should be generating roughly 32 opportunities per 1,000 outbound calls. Keep in mind that those numbers were for outbound prospecting, a term that tends to include many calls that are relatively cold. So keep an eye on those call logs. If lots of activity doesn’t lead to achievement, it may be time to start listening to sample call recordings to try to work on the pitch. Rate of Follow Up Contact Persistence pays off.
A National Sales Executive Association survey found that 48% of sales agents never follow up with leads a second time. This is significant since 10% of sales are closed on the fourth contact, and 80% are made on the fifth to 12th contact. As a sales manager, you hope to look at every lead record that is being worked over time and see multiple leads and calls logged against it. Clicks from Sales Follow-Up Emails Think about the best sales follow-up emails you’ve ever received. Effective reps try to bring something to the conversation that will re-interest and re-engage you.
That often requires links to content. That could be a link to a promotion, whitepaper, a new pricing page, or in the B2B world, even a study that validates the product being sold. The goal of this metric isn’t necessarily about volume or click-through-rate (CTR). It’s to ensure that reps are actually embedding links to content in follow-up emails that are tailored to the leads they’re working. If you find it isn’t happening, it may mean that you need to either get them more content they can use, or make them aware of what you already have.
Social Media UsageThis is one of the more difficult data points to measure, but in general, you need to make sure that your sales reps are active in social media. We know that top sales reps use LinkedIn, and that there is a direct correlation between reps that are social media enthusiasts and revenue as a direct result from the channel. What’s less clear so far is how much contact and what types of contact are making the difference. Since there are few KPI guidelines in place for measuring social micro-strategies, you’ll have to rely on your own instincts to define how your reps are making connections and using the channel. ------------------------------------------------ Methods of performance appraisal Performance appraisal methods include 11 methods as follows: 1. Critical incident method The critical incidents for performance appraisal is a method in which the manager writes down positive and negative performance behavior of employees throughout the performance period 2.
Weighted checklist This method describe a performance appraisal method where rater familiar with the jobs being evaluated prepared a large list of descriptive statements about effective and ineffective behavior on jobs 3. Paired comparison analysisPaired comparison analysis is a good way of weighing up the relative importance of options. A range of plausible options is listed. Each option is compared against each of the other options.
The results are tallied and the option with the highest score is the preferred option. 4. Graphic rating scales The Rating Scale is a form on which the manager simply checks off the employee’s level of performance. This is the oldest and most widely method used for performance appraisal.
5. Essay Evaluation This method asked managers / supervisors to describe strengths and weaknesses of an employee’s behavior.Essay evaluation is a non-quantitative technique This method usually use with the graphic rating scale method. 6. Behaviorally anchored rating scales This method used to describe a performance rating that focused on specific behaviors or sets as indicators of effective or ineffective performance. It is a combination of the rating scale and critical incident techniques of employee performance evaluation.
7. Performance ranking method Ranking is a performance appraisal method that is used to evaluate employee performance from best to worst.Manager will compare an employee to another employee, rather than comparing each one to a standard measurement. 8. Management By Objectives (MBO) MBO is a process in which managers / employees set objectives for the employee, periodically evaluate the performance, and reward according to the result.
MBO focuses attention on what must be accomplished (goals) rather than how it is to be accomplished (methods) 9. 360 degree performance appraisal 360 Degree Feedback is a system or process in which employees receive confidential, anonymous feedback from the people who work around them. 10. Forced ranking (forced distribution)Forced ranking is a method of performance appraisal to rank employee but in order of forced distribution. For example, the distribution requested with 10 or 20 percent in the top category, 70 or 80 percent in the middle, and 10 percent in the bottom. Employee development plan A well-thought-out plan provides your employees with opportunities and clear direction on how to increase their skills and advance their careers.
And with a more expanded skill set, they have more tools to help your business forge ahead. It's a win-win for you and your staff. But an employee development plan or program shouldn’t be created off the cuff.Follow these steps to help make sure your employees' development plans are on point. Step 1: Consider your business goals Before you set objectives for employees, you should try to align their development plan with your company’s needs. Otherwise, you and your employees’ efforts could be all for not.
Start by considering what your long and short-term business objectives are. Then identify the necessary skills, knowledge and competencies that support those objectives. For example, if your business will be going through a growth spurt, you may need additional leaders. What skills do these leaders need to have?Do any of your current employees have the skills – or capability to learn the skills – needed to fulfill these roles? “If not, developing a plan to bridge the gap between current employee skill sets and needed skill sets would be of great value,” says Lynne Klein, human resource advisor at Insperity.
Developing internal candidates can save you time and money on recruiting, onboarding and training outsiders. “Additionally, creating a career path and demonstrating advancement and promotion opportunities through development can help you retain your top talent,” says Klein.Step 2: Talk to your employees Don’t just assume you know your employees’ skill level and career aspirations. If possible, have a face-to-face discussion with each of your team members to get a better understanding of what their career goals are and how they think they can accomplish them. You should also talk about any challenges they’re having in their current position. Have your employees do a self-assessment of their work.
In what areas do they struggle the most? Would they benefit from additional training or mentoring? Some of your employees may already have a career path in mind.But many times, they don’t know how to get started. By talking to them, you can work together to figure out what role your business plays in this plan as well as what opportunities you can offer them. Step 3: Decide what skills your employees need Once you’ve looked at each of your employees’ abilities and experience, as well as your company’s needs, it’s time to decide exactly what skills each person needs to acquire. Be sure to your employees’ goals are specific and timely. It’s much more difficult to measure an employee’s progress when their objectives are vague or broad.
Step 4: Create an action plan Now that you know what the objectives are, it’s time to figure out how your employee will go about achieving them. Developmental programs can include a combination of activities such as formal training, reading, working directly with subject matter experts, one-on-one coaching and mentoring, and visits to institutions that offer specific development opportunities. Once you’ve identified some specific learning opportunities, create a plan. First you need to consider what it’s going to take to put your employee’s plan into action.
Is there any prep work that needs to be done?Is anyone else involved? Will employees need to take time away from work? Will someone else need cover for them while they’re training? After you have all the details sorted out, it can be helpful to create a schedule or time table so that employees keep moving forward and continue to pursue their goals. Step 5: Apply the new skills in the workplace You’re spending a considerable amount of time and possibly money on helping your employees improve their skills. To get your greatest possible return on investment, your employees need to be able to put those new skills to work in your company.