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Iconixx Insights BlogSales Performance Management

Maximize revenues with sales performance management

By July 29, 2013June 11th, 2024No Comments

Nearly every company is always on the lookout for new ways to bring in more revenue. Landing new clients and pushing for higher sales is a common practice that decision-makers may not think twice about, but many often overlook the power of sales performance management in bringing out strong behavior from employees and increasing profits. Read on to find out how sales performance management can better a company in a variety of ways: Streamlined communication Solid sales performance management focuses on and elicits strong communication between staff and supervisors. Sales performance management software particularly increases effective communication. These programs allow an executive to keep an eye out for strong performances as well as for employees who may need more guidance. A VP of sales can catch slipping sales early on, and work proactively with salespeople to help them thrive. Open and supportive communication will not only help with dialogue from an executive’s standpoint, but create an environment in which staff feel comfortable coming to supervisors when they need coaching or guidance. This will improve performance and as a result, increase revenues. Appropriate praise In some ways, salespeople are just like any other type of worker: they feel the need to be recognized for their hard work every once in a while, and appreciate acknowledgment. Sales performance management can guide a manager in knowing how an employee is doing in terms of sales and other areas of work life. For example, using sales performance software, a VP of sales will easily be able to see improvements in performance, such as higher sales and improved client retention. When a VP of sales notices high performance, he or she can appropriately praise a team member for a job well done. Even a brief email congratulating a worker and thanking them for their dedication will improve morale and encourage a salesperson to keep up the good work.

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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.

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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.

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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.

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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.