Benefits of Sales Scorecards
October 8, 2018
A little healthy competition never hurt anyone, in fact, it’s one of the best ways to inspire and motivate individuals to achieve their goals, and it works even better in a team setting. Many salespeople are naturally charismatic and driven by their desire to perform well, but it’s difficult to determine what “well” is until you start analyzing how your current processes are working and what you can do to improve them. This is where sales scorecards come into play.
What is a Sales Scorecard?
Not to be confused with CRM metrics that focus on customer relationships, a sales scorecard is essentially a controllable spreadsheet that tracks your sales in real-time for the benefit of your team. They’re used to indicate how well your team is performing and are analyzed by team leaders in order to determine how to better streamline processes, set goals, and monitor the results of your team’s activity.
To better understand how this can benefit your team, think about the last sporting event you watched and consider this: what if there was no scoreboard?
Sure, you could say that you feel Team A outperformed Team B based on your observations during gameplay, but if you knew objectively that Team A had a higher scoring percentage in the second quarter then Team B would know to step up their performance in the third quarter and increase their defence. Beyond that, if you knew that Player 4 on Team A had a higher likelihood of scoring than Player 2, Team B would know to target that player in order to give themselves the greatest opportunity to win. This works the same way within your sales team.
The Benefits of a Sales Scorecard
Simply put, if you want to stay ahead of the competition, a sales scorecard is your ticket to the frontlines. It’s far too easy for your sales team to get bogged down with their day-to-day schedule and miss the areas in which they could be performing better, particularly without any sort of visual representation of their targets. Even if your team is already performing at a level that meets your quotas, without carefully tracking their processes and reviewing them, you miss the opportunity to increase their efficiency and surpass expectations.
In a nutshell, sales scorecards:
- Simplify your sales processes with easily digestible metrics in real-time.
- Help you determine achievable goals.
- Act as another measure of accountability that leads to increased performance and a more efficient workforce.
How To Build Sales Scorecards
The first thing you need to focus on when building your scorecards are the metrics that are most relevant to your team. As an example, for your sales team, this might include things like how many emails are written, phone calls made and leads they aim to acquire in a given week, with each metric having its own defined target number. Effectively, what you’re aiming for is that this scorecard guides the way they perform their daily tasks. This makes it easy for them and you to see the areas where they could stand to perform a little better, or in terms of targets that they are exceeding, it could prompt a reassessment of that goal to further improve upon it or achieve it at a faster rate.
Secondly, you’ll want to calculate your metrics to determine your targets. A great technique for this is to start with your end-goal in mind and work your way backwards. For example, set your yearly revenue goal, then break that figure down into quarterly, monthly, weekly and daily goals. This helps you determine the best way to distribute the workload across your team.
Finally, you’ll assign your scorecards to your sales team and the leaders that will be overseeing their progress. The scorecard for your leaders should encompass their teams’ metrics as a whole to provide greater accountability to each task. The easier it is to spot potential problems, the faster you can start strategizing to correct them.
Rather than issue out paper scoreboards or create a messy chart on a whiteboard, integrating an interactive scorecard like Spinify’s make it easier than ever to keep tabs on your team and your targets. With Spinify’s scorecard, your team can flip between their point score, activity score, outcome score and earn badges as they go while keeping a keen eye on their position on the leaderboard. This makes it easy to see areas that require attention, who’s underperforming, and who your star salespeople are, all of which can be used to create effective strategies to boost performance in all facets of your business.
It’s easy to prop up your Spinify app in a communal area in your office space as it seamlessly projects onto TV screens or large monitors. Its stunning visuals and musical features like personalized celebration songs will have your team practically running to work for an opportunity to advance their position.
The best part about Spinify’s scorecard? It works.
Clients have already seen incredible results like a 40% increase in completed activities upon integration, a 10% increase in monthly call volumes, and a 66% increase in monthly net profits. In addition, they notice a true change in team morale because healthy competition is not just effective, it’s enjoyable, too.
For a fun new twist on activity tracking, try out Spinify with a free 14-day trial and watch those target numbers rise as quickly as your team starts to climb the leaderboard.
Put those insights into practice.
Set your team up for success by improving their performance through gamification.
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