In “All That Glitters Is Not Gold: 2019 World-Class Sales Practices Study,” CSO Insights, the research division of Miller Heiman Group, shared the top 12 best practices that are aligned with world-class sales performance (download it here if you haven’t read it yet). World-class sales organizations that demonstrate adoption of these practices outperform everyone else—getting a 23% edge in win rates and quota attainment.
If you’re a typical sales leader, you’re seeing revenue attainment numbers that make you proud—this year’s World-Class Sales Practices Study showed that on average, sales organizations saw 101% revenue attainment. But you have to wonder how you achieved it—was it through individual performance or the benefits of a strong economy. Ask yourself:
- What will happen to your sales team’s numbers if the economy slows down?
- How can you tell whether your sales strategy is ready to withstand economic turbulence?
- How effective is your sales team’s sales strategy?
Our Sales Performance Meter is a diagnostic tool built on research from CSO Insights. Sales leadership can invest 10 minutes to understand where they need to focus improvements, where they need to monitor performance and where they’re performing well. In this blog, we’ll go deeper on what you can expect from the Sales Performance Meter.
What Is the Sales Performance Meter?
The Sales Performance Meter is a diagnostic tool designed to unearth critical insights about the state of your sales organization.
To maximize the usefulness of the meter, spend a few minutes appraising where your organization stands before you begin. Think about how you would answer the following questions, based on the top 12 sales practices:
- How do customers and prospects view your company?
- Are your sales processes undefined, informal, formal or dynamic?
- Does your team have consistently positive interactions with customers throughout the buying journey?
- Do your sales calls deliver mutual value to your customers and prospects?
- How well do your salespeople communicate relevant value messages to your buyers?
- Are your sales management, operations and enablement teams aligned?
- Does your culture support the continuous development of your sales professionals?
- Do your sales managers coach your salespeople effectively?
- How accurate are your sales forecasts, and how rigorous is your forecasting process?
- Do you use call planning tools effectively?
- Are your marketing, sales and customer service teams aligned on customer wants and needs?
- Are you using operational and customer data as an asset to grow sales?
- Is your talent strategy recruiting and retaining staff with the capabilities you need to achieve your business goals?
- Do you continually assess the reasons behind your top performers’ success?
The diagnostic is straightforward: all you have to do is rate yourself in each area covered in the questions above. Then we compare your responses to those of more than 900 sales organizations worldwide who took part in the 2019 World-Class Sales Practices Study.
Based on our analysis, we’ll send you a detailed readout that assesses your sales process maturity and the depth of your relationships with customers using what we call the Sales Relationship Process Matrix. Using your input, we’ll determine where you land on the three levels of the matrix and show you how you can secure your status or progress to the next level.
Next, using the 12 organizational practices that have the greatest impact on sales results, we’ll show how your sales organization ranks in each of three key areas to help you level up in the matrix:
- Customer engagement: the processes, methodologies and skills you need to interact with customers and prospects
- Performance support: the functions that provide the tools and guidance to help customer-facing professionals succeed
- Strategic alignment: the strategies and decisions that ensure marketing, sales and service are moving in the right direction to fuel growth
We’ll deliver all of this information to your inbox in an easy-to-understand report that ranks your performance and prioritizes the actions you need to take to start moving your organization toward world-class status.
How to Use the Results of the Sales Performance Meter
The Sales Performance Meter delivers a blueprint that you can use to critically examine your organization, identifying behaviors to replicate across your sales force, performance gaps to fill and areas of misalignment to correct. You can also use your results to determine the optimal areas for investment in sales transformation: perhaps you’ll want to develop a new sales talent strategy, request sales coaching training for managers or implement a data-infused sales analytics platform that enables you to isolate the behaviors driving the success of your top salespeople. Given that it takes 6 to 12 months for sales transformation initiatives to take hold, now is the time—while the economy is still strong—to plan for 2020 and make the budget requests necessary to support these investments.
To get started, take the Sales Performance Meter today. We’ll follow up to walk you through your results and help you build a roadmap designed to maximize your sales performance.