There is nothing more frustrating as a sales manager or a salesperson than missing targets, especially when you know you and your team are working hard. So how do you figure out what’s going wrong?
Analyze sales activity
There are only so many hours in a day for a salesperson to sell, and you’ll want to make sure that they’re getting the most from their time. If you use a CRM system, you should be able to run a report to see how many meetings each salesperson has attended. You can then cross reference that with their estimated sales capacity to see if there’s a disconnect.If they haven’t been attending enough meetings, it’s time to identify why. Here are some questions to ask:
1. Are there not enough leads or accounts within a reasonable driving distance?
If a sales rep has the capacity to attend 10 client meetings a week, but it takes them hours to get there and back, it means they’re spending more time on the road than selling. The best way to identify this problem is to plot the sales rep location on a map of accounts and run a drive time buffer around it to see how many accounts lie within 30/60/90 minutes’ drive from the sales rep location.
2. Are they spending a lot of time of admin?
Speak to your salespeople and get an understanding of how much time they spend on admin before and after a meeting. According to The CRM Benchmark Report, 55% of enterprise sales reps spend 2 – 10 hours entering data in their CRM. Is there anything you can do to reduce the amount of admin by streamlining some processes or implementing and integrating new technology to make it easier on the road?
3. Are they getting a lot of cancellations?
Canceled appointments are a massive drain on sales reps’ time. They’ve spent time prepping for a meeting and traveling to get there, and when a client cancels it can mess up their entire day. How can you help them to quantify the volume of cancellations they get, reduce that number of cancellations, and make the most of their time when cancellations happen?
Analyze sales deals
If your salespeople are at meeting capacity and closing deals at their normal close rate but still aren’t hitting their targets, then you need to look at their opportunity pipeline.
Look at the deals they’ve closed over the last six months to a year. What are their common characteristics? What is the average sales value? Are your sales reps going after lower value, easier sales, rather than working the higher value deals?
Not all deals are won, and you don’t want to win some deals as they’re not a good long-term fit. But are there deals in the pot that could have been won with better training or sales supports?
Help your sales team close more high value sales
After analyzing the data, you realize they could be visiting more clients and could be focusing on more valuable deals. The next step is to enable them to do better.
When a salesperson has access to all the data they need, they make more informed decisions. So, as their manager, you need to give them the data in a way that’s easy for them to interpret.
Step 1: Visualize your data
When you work as a traveling salesperson, a geographic view of your accounts and leads is invaluable. An interactive territory map that shows accounts and leads color-coded by value will help your sales reps prioritize much quicker.
Step 2: Filter out low value accounts
When your salespeople have these maps available to them, they can quickly filter to see only high value accounts and warm leads, as you can see below.
If your sales reps identify a cluster of high value accounts they can draw a custom area around those accounts which will enable them to filter the data further. Those accounts can then be exported to a CSV for offline appointment set up.
Step 3: Plan your sales call route
Once that map is saved, they can access it through eSpatial Mobile. From there, the sales rep can generate an optimized route to call on the selected high value clients. As you can also see in the image, your sales reps have access to other accounts in the area that aren’t on their current route. That makes it easy to fill any cancelled appointments with new meetings.
According to the Miller Heiman Group 2018-2019 Sales Performance Report, only 54.3% of sales reps hit their quota in 2018. There are many possible reasons for a sales rep to miss their quota, but by analyzing their sales activity and pipeline data, you can drill down on a cause. When you also provide your salespeople with the data and tools they need to target high value opportunities and effectively manage cancellations, you’ll start to see a rise in quota attainment.
If you’d like to learn more about how eSpatial can help you map your sales data, schedule a free walk-through here. If you’re ready to try it out, we have a seven-day free trial available with full support.