On Monday, I posted the first part of my interview with the authors of the Making the Number. As I said earlier, this book can really shake up the sales organization - but in the process, take it to new heights.
I recommend it to any business owner or sales executive who is serious about doing just that.
Here's Part II of my interview with the authors:
1. How does sales benchmarking help predict sales performance?
Sales benchmarking is diagnostic technique that focuses on leading not lagging indicators. Instead of sales leaders reviewing quota attainment results, they can use it to focus on metrics like pipeline-to-quota ratio. In short, sales benchmarking enables sales executives to look over the horizon instead of drive using the rear view mirror.
2. What are the first steps in getting started with a sales benchmarking effort?
Here are four things you can do immediately when you visit our www.salesbenchmarking.com home page.
- Watch a video about how Bill James and his how Sabermetrics approach helped the Boston Red Sox win the World Series. You'll learn why this has relevance to sales benchmarking.
- Download a copy of the World Class 100.
- Check out the video from NetSuite CEO, Zach Nelson. He discusses how sales benchmarking helps his company close business.
- Take a sample benchmark at www.salesbenchmarkindex.com/benchmark
3. How much does something like this cost?
Our programs start at $1,500 and go to $500,000 plus. It is based on a pay as you go cost per metric. Typically, the cost of a sales benchmarking program is less than 1% of the benefit it provides.
4. What are two or three takeaways for everyone who reads your book?
- Takeaway #1: You can and should compare yourself and your sales force to peers.
- Takeaway #2: Look at world-class sales organization performance to determine where you should close the gap.
- Takeaway #3: Use best practices benchmarking as the means of closing the gap and driving shareholder appreciation.
Many thanks to author Mike Drapeau for the sharing his thoughts on sales benchmarking. If you embrace it, everything changes!