Sales and Marketing Results? Who's Keeping Score?
Unfortunately, not many of you. There is an ever-increasing push for sales and marketing teams to show results. And "accountability" is the buzzword these days, whether in the boardroom or personal performance reviews. Accountability n: responsibility to someone or for some activity
But, accountability is not just a buzzword. It is truly necessary for success. In order to measure results and, more importantly, REPEAT those activities that yielded the best outcome, we need to track and consistently analyze our metrics. True, the ultimate metric is SALES. But still the best managers (whether managing an entire organization, specific team, or yourself) understand that a smooth sailing to success requires the ability to “tack” your efforts toward your goals. The only way you can do this is to to know where you want to go, where you are now, and what changes to your effort are necessary to lead you to your destination.
That’s where the sales and marketing SCORECARD comes in. Here are 3-steps to creating your own scorecard:
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Determine which results you most want to track. While it is not a comprehensive campaign ROI measurement tool (each individual marketing vehicle should be measured in a separate ROI exercise), the Sales and Marketing SCORECARD is meant to measure your most critical metrics at each stage of the sales process—SUSPECT, PROSPECT, LEAD, and CUSTOMER—and provide a quick snapshot on both sales and marketing results.
Some example metrics might include:
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Website Visitors
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Website Downloads
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Inbound Inquiries via web and email
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Outbound Contacts such as telemarketing and trade shows
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Sales Prospecting Follow-up (Calls, Connects, Qualifies)
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Presentations Given
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Proposals Submitted
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Close Rate (ratio of wins and losses)
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...and any other Metric that is relevant to your sales and marketing success
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Identify the systems for capturing the data. Reporting on metrics is impossible if you don't have the systems (whether human or technology) in place to capture the data. For each metric you have added to your scorecard, determine your process for capturing and compiling the results each month. How do you track each inbound inquiry? How can you determine how many proposals you submitted each month? Etc.
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Set a venue for your team to review results. For you to truly be accountable, you must actually share them. Set a time and place for report on the details of your scorecard(s). As you review your monthly reports, reflect on how they differ from previous months, and check on your progress toward the annual goal (are you tracking to your goal, or falling behind). This is your chance to make any changes you need to make before it's too late.
It's time to be accountable! Get started on your own sales and marketing scorecard now! Share This Page!
The Sales and Marketing Toolkits BUNDLED contains:
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Over 60 sales and marketing templates (DOC, XLS, PPT, and PDFs)
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Loads of "how-to" articles and examples
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8 Training sessions (MP3 audio files) for your computer or iPod
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