Sales Gamification - Accelerating Sales
Up until now this guide has talked you through principles to follow and best practices to drive adoption of your business systems. In this chapter we dive deeper into how to use sales gamification on the sales floor to help target key sales KPIs to boost sales performance.
Maximize the middle
You’ve invested in your CRM system, you have invested in sales on-boarding and sales enablement, but still you feel there is spare capacity in your sales team. You know that your middle performers have the potential to be top performers, you just need to find out how to get them there.
You are not alone and therefore sales leaders have turned to the practice of managing by sales KPIs. They use this approach to maximize the middle, accelerating the performance of their middle group of sales reps.
Modern sales leaders understand that every deal travels a journey, they don’t just think of a deal as a destination. Rather than focusing on the outcome, they focus on the KPIs that span the journey that deal must take to close. These sales KPIs are often placed into two broad categories, leading and lagging indicators.
These KPIs give insight into the health of your business. For example, if you follow up leads within 24 hours there is an 80% greater chance off those leads converting into pre-pipe opportunities. Hence why converting leads within 24 hours is a KPI what would be a leading indicator of success and is likely a behavior that you would want to motivate more of. They span the entire breadth of your sales process, are forward facing and give an indication of what is likely to happen next. For example, if your lead conversion rate goes up and your call rates go up it is likely deal closure rates will also go up. Conversely, if they do down then it is an indicator that sales may well follow suit
The KPIs that track what has already happened. They can tell you the health of your business, but they are unable to give insight into why they happened.
For example, a lagging indicator would be deals closed. Lagging indicators are rear-view mirrors and are not an indicator as to what might happen in the future.
The importance of time
The next critical element to consider with these sales KPIs is time. This consideration brings an appropriate cadence to sales activities that will accelerate performance. For example, a sales rep having 10 senior level discussions in a week is more likely to drive successful outcomes than a sales rep that has only 2 in a week.
To understand what timeframe to bring to these KPIs it is often useful to validate your gut feeling against how your top performers operate. For example, you might believe that booking 10 meetings a week is the right level of cadence to drive success. But what if your top performers are, unknown to you, actually booking 15?
Modern sales leaders will pick a small selection of KPIs to focus on in short bursts. For example, they may pick 10-15 of these behaviors and place a focus on them for a quarter to improve results. Once a noticeable difference has been made (and progress is of course measurable taking this approach), they will move on to other areas of the sales process that might need attention.
But, how do these sales leaders know where to start?
Sales is not a game of guess work. Careful analysis is required to get insight into exactly how the team are performing across the KPIs that make up your sales process.
Typically, these sales leaders will have been silently running hidden or tracking competitions that record the team’s performance across the chosen KPIs. This gives them the insight that is used to determine which areas of the sales process require increased focus. It also uncovers the cadence of your top performers.
Watch our on-demand webinar on using sales gamification to find out exactly where to start.
This can also be used to track negative behaviors as well as the positive KPIs. What do we mean by negative behaviors? These are KPIs that might traditionally have been tracked and evaluated by sales operations (if in fact the CRM system supports it, which often it doesn’t). For example, if you could see that a deal in your forecast had not had its close plan updated for 30 days and its sales stage had bounced backwards multiple times, it might have an impact on your view of that deal and its probability of closure
Common Sales KPIs ripe for sales gamification
Sales KPIs and behaviours to motivate fewer of
No two sales processes are ever the same so make sure you pick and choose the right ones for your business and your sales process.
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