Less is more – Focus on the key performance drivers for your business and don’t overextend yourself. There is no point it tracking something just for the sake of tracking.
KPIs and planning – Include key performance measurements in your business planning process and evaluate on a yearly basis whether you are using these measurements to track and improve your business. KPIs should help you to make better decisions and indicate where the business is heading.
Review current KPIs – Review the key performance indicators currently tracked by the sales team. Are they tracking outlet activation, strike rate and sales? Which additional KPIs do you need to track?
Calls per day – Set the number of calls per day. It is important to understand how many calls the sales person can do in a day. Territory density, traffic and type of customer (traditional vs. modern trade) will all play a role.
Opening new outlets – In emerging markets the outlet base is always changing and mostly growing. It is important to track outlet activation. Salesmen should have clear targets for opening new outlets.
Sales & success rate – KPIs measure the sales process. Companies need to measure the sales per outlet and the successful calls per day. This will help a company understand why call rates are high or low.
KPI knowledge – Ensure tracking and monitoring systems are clear to all parties. Do all employees understand what is being measured and how KPIs are calculated? I am sometimes surprised to discover how many employees don’t understand how KPIs are calculated.
Sharing indicators – Review how you will share KPIs and performance tracking. Coaching starts with KPIs. In emerging markets, as elsewhere, it is critical to think through how you will share KPIs with employees. This could include visual dashboards and mobile phones.