Transparency. Competition. Performance. Goals.
These are common organizational buzzwords that high-level executives and sales managers might throw around on promotional materials, at coaching sessions and when presenting to board members. These should be more than just aimless buzzwords, however – they should serve as important foundational points for both long-term and day-to-day success.
One of the best ways that InsightSquared uses our own product is by displaying key sales performance metrics and important dashboards on a television monitor that can be viewed by all in the office.
(For even more detailed information about sales metrics, check out our FREE eBook: The Right Metrics for Your Inside Sales Team.)
A regular visual setup helps reinforce goals, expectations and collaborative competition on a day-to-day basis. In fact, this type of display setup allows upper management to constantly be promoting competition, emphasizing transparency and improving performances, all with an eye on reaching company-wide goals.
Creating healthy spirited competition among your team of sales reps has been proven to be a tremendous boon in growing sales. If one rep is making more dials and converting more opportunities into deals, his or her peers will be that much more motivated to step their respective games up. This is why one of our favorite dashboards is the Bookings by Employee report. This report gives you a quick snapshot of how many deals your reps are booking compared to each other and how much these deals are worth. This is a great way to build a competitive team spirit rising tide that lifts all rep boats. Displaying this publicly means that underperforming reps have nowhere to hide, while top employees don’t have to arrogantly boast about their great performances and make other reps feel bad in the process.
Another great dashboard to display on your public television monitor is the Sales Forecast report. Every sales organization has a set of stated goals for each month, quarter or year. The bookings forecast dashboard displays the month-to-date bookings and the projection for the rest of the month, based on historical conversion rates and current pipeline opportunities. Having this dashboard constantly on the screen helps employees literally keep their eyes on the prize. There can be no claims of not knowing what the company’s – and their personal – goals are if it is being constantly displayed.
These are just two examples of any number of dashboards and reports that should be displayed to the entire office. Rep activities, sales funnel visualizations and sales pipeline reports would all do wonders in creating a culture of transparency and healthy competition. Having a rotating television display of dashboards and reports will help keep reps and employees fresh, motivated, on their toes and totally aware of all company goals at all times.
Data-driven companies are always looking for ways to analyze and leverage sales performance metrics into improved reps and sustained company growth. Displaying key sales performance metrics on a public television monitor for every office employee to peruse is another way to make your company more metrics-focused.