How sales performance software can improve quota attainment
You’ve probably heard of sales performance software at some point in your career. You may even have colleagues who’ve mentioned their own installs have come in handy. But what does the software actually do, and more importantly, is it worth it?
Sales performance management software helps salespeople and those in leadership positions track a number of sales metrics related to their department. Depending on the platform, this can include:
- Number (and value) of sales
- Length of a sales cycle
- Average contract value
- Incentive compensation
- Total sales compensation
- Quota attainment
All this data can be used for various purposes, nearly all of which contribute to overall efficiency and efficacy.
The main benefit of using sales performance software is the ability to monitor sales performance and progress. Automated tracking removes all the guesswork and the capacity for human error.
Imagine you’re loading information into a spreadsheet by hand and relying on manual calculation. One numerical mistake or incorrect entry and every resulting outcome is skewed. Sales performance software paves the way for unparalleled accuracy.
There are other key benefits for your business, too.
Forget black box data. Keeping your team in the dark regarding their own sales accomplishments makes people feel uneasy. It’s no surprise that anxious, worried people tend to underperform.
The shared dashboards found on top-tier sales platforms enable everyone to have powerful insight. Your team knows where they stand personally and sees how they’re performing in relation to their coworkers. This can be a major motivator.
Identifying focus areas
Armed with vital information generated by sales performance software, salespeople can focus on strengthening their attributes. The software proactively identifies individuals or processes that need improvement. Now you can steadily collect data to help mentor your team or advise training to achieve better results.
Metrics & reporting
Speaking of metrics, those all-important numbers are easy to find using sales performance software. User-friendly interfaces make reports available at the simple push of a button, and C-suite executives can take a look at will.
Perhaps the best aspect of sales software is the power to fuel growth and inspire everyone to meet the team’s sales goals. Depending on the data, you may change your best practices and create a new plan for growth. Or, you may decide to reward the top performer or create a more targeted campaign for a new product.
Set and track personal and team goals
Important for obvious reasons, goal tracking helps everyone keep the big picture in mind. Review relevant metrics and set goals specific to each individual. Remember, salespeople have different strengths and weaknesses which is why blanket approaches to motivation are underwhelming.
Perhaps you have a team member who is great at warming up leads but has trouble closing. Maybe there’s a newer salesperson who struggles with an overlong sales cycle. With the right software, you can see what these pain points are and set goals designed to nurture improvements.
Help manage the pipeline
Sales pipeline management is the practice of being hands on (or at least eyes on) through every stage of the sales cycle. And this applies not only to one sale but to the entire team’s active and prospective deals.
With a dashboard that displays everyone’s status, you can quickly identify what needs attention ASAP. You can also see what was accomplished in a certain time period. Perhaps more importantly, you’ll see what will be hitting the P&L sheet in the coming days, weeks or months.
Gain easy access to historical sales data
If you want to make accurate sales projections, you need accurate data from past sales periods. This data can tell you a lot about sales cycles and engagement. Review activity by season, month or territory, see which are more active and track information about specific products or salespeople.
Sales experts skillfully designed QuotaPath to be the sales performance software your team has been waiting for. Using the QuotaPath platform, you can:
- Understand individual and team earnings and monitor quota attainment
- Align your whole sales team to track performance, results and revenue
- Integrate with existing CRM tools, such as Salesforce and HubSpot, to pull in deal data automatically
All this and QuotaPath is easy and inexpensive to set up and implement. No cumbersome interfaces with a giant learning curve, and no budget-busting onboarding fees. Just expert software that works for your department, your team, and the powers that be.
For more information, reach out to our team, or book a demo and see how QuotaPath can work for you.
QuotaPath is the most adaptable compensation solution for sales reps to finance to everyone in between. Try it for free today!