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The process should be started with the formation of a project group. The KPI creation plan includes six main stages.
Step 1. Structuring work based on cause-and-effect relationships
The success of a business depends on each manager achieving their personal goals.
When starting the KPI process, it is important to rely on a wealth of data collected directly from staff, including their plans for meeting client targets by month, the tools and methods they use.
This high-quality approach to implementing KPIs in the commercial department helps to facilitate the process, reduce time, increase motivation and reduce internal resistance of managers.
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Alexander Kuleshov
Alexander Kuleshov
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Stage 2. Adaptation of business processes of the sales department
Changes need to be made to well-functioning sales department business processes so that they serve the achievement of funnel KPI goals and plans.
In the process, objective obstacles can be discovered: lack of motivation, lack of data, resources or qualified managers for transactions.
The specifics of the industry are also important. In unsuitable conditions, the initial plans for the number of KPIs for a certain period must be revised and started over.
Step 3: Defining metrics to track and evaluate managers’ performance
After adapting business processes, we move on to developing KPI metrics that will help track and evaluate the performance of managers when working with clients.
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The following principles are used for this:
Each KPI indicator must correspond to the priority plans of a specific business unit by month.
Each KPI indicator is linked to a position and assigned to an employee. For operational personnel, an individual number of KPIs is set, for managers – aggregate plans by month.
Before introducing a new KPI indicator for the work of the commercial department, its source is determined, often CRM systems that automate the collection of data on quantities for a certain period.
Stage 4. Creating a motivation system for the sales department
Salary, bonuses and other incentives are good motivation for a manager to achieve the business KPI objectives while working with clients.
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Stage 5. Familiarizing managers with the KPI system
When getting acquainted with the implemented KPI system, you need to make sure that the information reaches every employee of the commercial department. For example, this way you will avoid situations when managers perceive the business KPI as something abstract during the process of work and concluding deals.
Download a free selection of tools for calculating KPIs and increasing marketing metrics
Alexander Kuleshov
Alexander Kuleshov
General Director of Sales Generator LLC
Read more posts on my personal blog:
Over the past 7 years, we have conducted over 23,000 comprehensive website audits and I have learned that all of us as leaders need clear and working algorithms for our marketing and sales.
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