We all know that in sales, revenue per field sales rep is probably the most important metric for sales performance. However, there are other elements that sales managers should look at. You can have much greater control of the sales division in your company by simply looking at a few core metrics under your field sales reps. This will then allow you to boost sales performance as well as grow revenue on an ongoing basis.
We’ve put a list together of the main metrics to look at when measuring field sales result:
The amount of time that is spent selling in the field
You want to measure how much time your field sales team are actually spending on selling. This allows you to know any issues that may be tampering with sales performance. Look at what they struggle to do. For example, it could take them a very long time to access product information, or directions to their next suburb. Remember, the more time saved on these elements, the more time there is to actually sell.
Lead response times
You want to be able to look at the speed of response and know that your field sales reps are working as efficiently as they should, especially with the software and platforms they have access to. Technology is used to speed up the lead response time, and it should be done so on a daily basis. Customers expect quick response given the online technologies that we have at hand, so ensure this is being rolled out effectively by your field sales team.
Usage of marketing collateral
Most salespeople do not make full use of the company’s marketing collateral when selling, and this often shows an inefficiency. As a result, sales performance is not at its best. If your business has the budget to, it would be worth it to implement sales content management software, which increases marketing and sales performance. This should be implemented and analysed to optimise performance in the upcoming quarters.
Rate of opportunities won
Keep track of your opportunity win rate in order to analyse how well your field sales reps are at being close to closing a deal. The ability to close forms a massive part of sales performance and here is where you get to understand how certain field sales reps are good at networking but fail to close the deal, constantly.
Average size of a deal
Closing deals are imperative, but the next step is to analyse what size these deals are. Here you may see trends of certain field sales reps that can close larger deals and some that prefer to close many smaller deals. This metric can quickly flag deals that shouldn’t be open as they are not popular amongst your target audience.
Sales cycle metrics
You want to also take a look at how long your field sales reps take to close a deal, and how long that deal takes to pass through each and every stage in the sales pipeline. This will allow you to flag deals that are less likely to close in a quick and efficient manner. You will also be able to identify any bottlenecks and how to streamline them if you analyse this type of data on an ongoing basis. This will allow your field sales team to have direction on how they should be investing their time.
Sales volume that is determined by channel, territory or location
When analysing sales data, it is best to look at it from a top view as well as a granular view. This will allow you to create actions on the back of knowing client acquisitions per location and channel, which is a quicker way of optimising your sales performance. Be sure to look at customer pain points and try to rectify them as best as possible.
Action metrics that are very specifically defined
You need to be able to look at actual actionable metrics in order for you to check your sales performance accurately, along with all the above metrics. Action metrics include a direct comparison to your goals and KPIs which will help you understand where the sales figures are sitting at. Such action-based goals are usually based on a target number of actions over a specific period of time. Some include elements like the number of first contact calls made, the number of outreach emails sent and the number of follow-up emails sent.
Your field sales reps may have the sales numbers to justify their work, but as a sales manager or business owner, it is imperative to understand how satisfied they are in their job. Why? Well, happier field sales reps will generally be more productive and will in turn, close more deals and build more client relationships for your business and brand.