Skip to main content
Iconixx Insights BlogSales Performance Management

4 ways to boost efficiency with sales performance management

By October 4, 2016January 16th, 2023No Comments

Sales performance management strategies are all about efficiency – doing more with less. Establishing efficient strategies can be difficult. One of the main reasons for this problem is inherent in the very development of efficiency – the more time you spend building something, the faster and better it has to be to qualify as a good return on investment. Organizations have to strike a balance between the planning stage for sales improvement and actually putting an initiative in practice.

One of the reasons sales performance management is so effective is that it can help organizations improve sales by applying collected data to areas of inefficiency. Wherever an organization is in its development process, it stands to benefit by focusing more on using data, metrics and incentives to generate more productivity. 

  1. Get status updates instantly: Instead of holding a weekly or biweekly meeting in which employees simply recite how they perceive their performance or managers compare results, thereby grinding operations to a halt, use sales performance management software. Employee sales and operational activity is updated in real time, making it easy for managers to centralize data and get a good picture of how sales are going right at their fingertips. Plus, if employees have access to these metrics, they have more insight into their own activity in the context of the whole team. Don’t use crucial meeting times summarizing information you could peruse beforehand. Which brings us to our next point:
  2. Collaborate with a purpose: Efficiency often stems from collaboration. Employees should have time to interact with each other and management, but using this time as a strategy period, rather than a summary, enables personnel to look forward, not backward. Driven collaboration also makes employees more connected to their work and gives them a time to let their creative flag fly.
  3. Plan more effectively: Lackluster time, personnel and resource projections can cripple an organization, especially if it’s a recurring problem, according to MarketingProfs contributor Bryan Nielson. Sales performance management software allows real-time reporting of project progress, which can then be applied to resourcing initiatives. This eliminates over- or under-resourcing a project and the bottlenecks that often result. This improves output and creates more opportunities for a higher ROI. 
  4. Align the vision: By investing in a centralized software platform to assess sales performance, an organization is able to align the team’s vision and approach. This integrated approach can then be applied to other areas of the organization, according to Compliance Week. Today’s best-run businesses are able to understand how an area like sales connects to a seemingly unrelated area, like risk management. Eliminating silos and promoting a unified approach drives efficiency across the organization.

Leave a Reply

Close Menu
Ballast Point Ventures

Ballast Point Ventures is a later-stage venture capital fund established to provide expansion capital for rapidly growing, privately owned companies in diverse industries, with a particular emphasis on companies located in Florida, the Southeast, and Texas. The BPV partners have more than 70 years of combined experience investing in and building high-growth companies in a number of industries, including healthcare, business services, communications, technology, financial services, and consumer goods. BPV has $200 million under management and seeks to make equity investments ranging from $3 million to $10 million.

Harbert Management Corporation

Harbert Management Corporation seeks to generate superior returns for their investors by identifying and investing in the most promising early growth stage companies in the Southeastern U.S. HMC seeks to capitalize on what it believes are compelling regional dynamics, such as a strong and fast-growing economy, significant research and development activities, and an established entrepreneurial community. The HMC team combines substantial investment, advisory, and operating experience with capital and networking contacts to support great entrepreneurial teams in successfully executing their growth plans. With offices in Birmingham, Alabama; Richmond, Virginia; and Gainesville, Florida, it’s well positioned to partner with entrepreneurs throughout the Southeast.

KBH Ventures

KBH Ventures was an early investor in Iconixx Software. KBH's investment philosophy plays a significant role in the firm's successful track record. KBH believes in running businesses to be cashflow positive and profitable every month. Startups and companies in a startup mode, such as one that has been purchased in distress, are expected to generate revenue within the first six months and reach profitability within the first 12 to 18 months. KBH also only invests in or acquires companies that are in the startup phase or have less than $20 million in revenues. KBH targets technology companies that offer business-to-business services.

S3 Ventures

S3 Ventures is an early expansion and growth stage venture firm with $200 million under management. It’s focused on information technology solutions that solve large business problems. S3 also invests in medical devices that improve the human condition. S3 invests in category-defining opportunities. It partners with the team and help focus methodically on what it takes to build a successful company. S3 today helps talented entrepreneurs take their technology and market knowledge and form valuable businesses in a repeatable fashion. Investment sizes start at several million or more for Series A, B, and C financing.