Putting modesty aside for two seconds. As sales leaders, there is very little we don’t already know about our own sales process.
Our knowledge of what is necessary to succeed runs deep. We’ve built our team to drive that success. Next, we have constructed a sales incentive plan that focus our reps on the most important sales KPI – closed business. So, we are all set, right?
Well, no, not really. We know what it takes to successfully navigate the sales process, what the right activities are at each stage of the deal lifecycle.
However, we seem to struggle to effectively drive our reps using these sales lifecycle KPIs.
The result is our sales reps get lost along the sales journey. Their deals stall and are unhealthy because they haven’t successfully covered the basics along the way. We are failing to capitalise on the opportunity that is in front of us.
Innovative sales leaders have realised the fastest way to increase sales is by “maximising the middle”. The “Sales Executive Council” call out that driving a mere 5% performance increase in the middle ground sales performers yields a whopping 70% increase in revenue.
As sales leaders, we know our sales process. We know what the right steps are to navigate it. Yet we persist in rewarding only for the final step, for a single sales KPI, when we should be driving high-quality sales interactions throughout our deal lifecycle.
In conclusion, driving an improvement across your team and sales process by breaking it down into multiple sales KPIs will deliver increased sales, faster.