A full two thirds of Sales Reps will not meet quota (Source: The Tas Group), coming to the end of your first quarter this is not welcome news, but this should not come as a surprise to you, with your finger on the pulse you know that this figure is actually up 5% on two years ago – right?
So the question you have to ask yourself is – what have you done differently?
Poor performance hurts more than the company
While you will be unhappy with such a poor performance from your Sales Reps, it is worth remembering it has not just had a negative impact on you, there will be a lot of your sales reps unhappy also. Not meeting quota is affecting them too, financially and mentally.
This will have no small part to play in the fact the Sales Representative job was the second hardest job to fill in 2015. Just 31% of Sales Professionals remain at one company for more than 5 years. When that sales rep leaves your company, you have to find a replacement.
Replacing the Sales Rep
The cost of this replacement is significant, an Aberdeen Group study estimates it takes €30,000 and 7 months to recruit and onboard a new sales rep. coupled with an additional 5 to 11 months before the rep is fully prepared. A continuous training programme for your reps, keeping them up to date with the use of the latest technology would have massive savings to the company.
Guiding your rep(s) to conduct some research / market analyses will have a positive impact all-round. This will help the Sales staff prioritise sales leads, become more targeted, focusing on prospects and markets that will have a better return.
For many companies the attitude among sales managers was one of scepticism, believing that converting an opportunity into a sale was largely a function of the seller’s actions and could not be predicted in advance.
But with the software available and the data therein the reverse is now true, sales teams need to and are realising that predictive analytics does actually make their jobs easier.
There are many different tools on the market available to help make life easier for the sales staff, and the company to grow. It is time to consider some of the options listed here.