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Key Factors
act

EVALUATING THE PERFORMANCE OF
THE SALES ORGANIZATION

Case for a comprehensive Sales Audit in the Life an...
Key Factors
act
Introduction
To operate effectively,
management needs feedback on the effectiveness of its
plans and the q...
Goals &
Objectives
Modify

Compare

Key Factors
act
Sales
Plans

Implementing
the Selling
Effort

Sales
Results
(Feedback)...
Key Factors
act
Controlling the Selling Function: Feedback

The Sales Management Audit
The sales management audit is
direc...
Key Factors
act
Operational challenges in Managing a Agency sales office
Key Factors
act
Key Factors
act

Causes leading to this

• Excessive focus on results for the day ( hunting over
farming)
• Unwarranted se...
Key Factors
act
BCG has defined a six point action agenda for the
life insurers journey ahead:
◊ Fix the agency operating ...
The Problem statement of
Sales Management

Key Factors
act
The Vicious
cycle
Key Factors
act
Limitations of Current Review Mechanism

•MIS throws out loads of data and is left to discretion on interp...
Key Factors
act
Management intentions need to be backed in
equal measure by Mid level interventions and
ground level actions.

Key Factors...
SOLUTION

Key Factors
act
The Virtuous
cycle
Points to Ponder

Key Factors
act

•The sales function is the cornerstone of the future success of your business.
• It rep...
Key Factors
act
Most companies readily institute a comprehensive financial audit to
ensure strict adherence to your compan...
Key Factors
act
The Sales Performance Audit
Similar to a financial audit, a Sales Performance Audit provides an across the...
Key Factors
act
Key Factors
act

Sales Audit, your tool for exercising more
control and bridge the Strategy-Execution Gap

S.V.Balaji
iams...
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Sales audit for Increase Sales Effectiveness

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Sales audit for Increase Sales Effectiveness

  1. 1. Key Factors act EVALUATING THE PERFORMANCE OF THE SALES ORGANIZATION Case for a comprehensive Sales Audit in the Life and General Insurance Agency Offices
  2. 2. Key Factors act Introduction To operate effectively, management needs feedback on the effectiveness of its plans and the quality of its execution.
  3. 3. Goals & Objectives Modify Compare Key Factors act Sales Plans Implementing the Selling Effort Sales Results (Feedback) Controlling the Selling Function
  4. 4. Key Factors act Controlling the Selling Function: Feedback The Sales Management Audit The sales management audit is directed at individual sales people and at branch, district, regional, and other area managers.
  5. 5. Key Factors act Operational challenges in Managing a Agency sales office
  6. 6. Key Factors act
  7. 7. Key Factors act Causes leading to this • Excessive focus on results for the day ( hunting over farming) • Unwarranted sense of urgency in recruitment SM and advisors leading to dilution of corporate policies • Lack of structured approach in building pipeline for new clients • Lack of quality engagement between agent and the Branch office • Ineffective Sales activity tracking and supervision
  8. 8. Key Factors act BCG has defined a six point action agenda for the life insurers journey ahead: ◊ Fix the agency operating model ◊ Build strategic, long term non agency partnership ◊ Incubate, experiment and develop alternative channels ◊ Develop a customer centric operating model ◊ Target customer / product white spaces ◊ Go lean — “lean is in” BCG- Boston Consulting Group
  9. 9. The Problem statement of Sales Management Key Factors act The Vicious cycle
  10. 10. Key Factors act Limitations of Current Review Mechanism •MIS throws out loads of data and is left to discretion on interpretation •Chances of subjective/Biased feedback from hierarchy down the lane •Reviews focus on data and the agenda gets hijacked by few instances of bad or good behavior •Visits by top bosses yield good feedback but is limited by time constraints •Also visits by top bosses is used as an opportunity to create good will/excitement
  11. 11. Key Factors act
  12. 12. Management intentions need to be backed in equal measure by Mid level interventions and ground level actions. Key Factors act Management must be able to exercise better control on the activities at the bottom of the pyramid and be in a position to drive its agenda after factoring the ground level feedback.
  13. 13. SOLUTION Key Factors act The Virtuous cycle
  14. 14. Points to Ponder Key Factors act •The sales function is the cornerstone of the future success of your business. • It represents the front line for new business development and planned revenue generation •Your sales function performance can make or break the success of your company, particularly in today’s evolving and demanding competitive marketplace. What is your confidence level of your sales offices adhering to your corporate guidance on sales management Practices How much does your sales plan solely rest on Human execution ? What are the odds of Potential to fail? Do you have an acceptable amount confidence in their ability to consistently meet your company sales goals? Even if your company is generally doing well, is it possible there are unexplained inconsistencies between the various members of your sales teams. Is this uncertainty preventing your company from effectively planning and managing the production and financial resources of your company?
  15. 15. Key Factors act Most companies readily institute a comprehensive financial audit to ensure strict adherence to your company’s targeted financial policies, as well as to provide an effective system of accountability. An uncompromising commitment to this practice keeps your company financially sound and strengthens shareholder confidence. In the same spirit of insisting on accountability and commitment, why not audit your sales pipeline management process and hold your sales staff just as Accountable?
  16. 16. Key Factors act The Sales Performance Audit Similar to a financial audit, a Sales Performance Audit provides an across the board assessment of the three crucial area of any sales department: 1)Assessment of the current sales management resources (People), 2)Assessment of the current sales pipeline management process(s) (Process), and 3) Assessment of the current measurement metrics used with the current sales management process (Performance). 4)The culture of the office that holds the above three together
  17. 17. Key Factors act
  18. 18. Key Factors act Sales Audit, your tool for exercising more control and bridge the Strategy-Execution Gap S.V.Balaji iamsvbalaji@gmail.com

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