Could KPI Indexes Lead to Better Time Management and Increased Revenue?

‘Anyone who saw The Pursuit of Happyness might remember how the main character, Chris Gardner, worked desperately to squeeze extra minutes and productivity into his cold calling efforts. In this scene, he describes how he was able to gain eight minutes of extra time per day by not hanging up the phone in between calls.’  

Cold calling is often synonymous with sales, but there's so much more to the industry than merely closing deals on the phone - the sales process is complex and insightful. When it comes to sales calls, almost everyone will have received one at some time or another, possibly about something totally irrelevant - but hopefully most of us can recall being contacted by a representative with an appealing product or service at least once...

So what is it about cold calling that can be so hit and miss? From homeless to multi-millionaire, Chris Gardner is a fine example of how to make it work – and his greatest tips centre around finding the most productive solutions in the best interests of both company and consumer. Evaluating needs and taking steps to improve is the start.

The questions to ask:

• What’s more productive - making lots of calls or booking lots of meetings?
• How can we extract data and acquire actionable insights from sales teams?

The answers:

• Firstly, calls need to equate to something - making an abundance is certainly better than booking loads of meetings
• Calls generate data: let’s say you make 10, from which 8 meetings are booked, 6 of which go ahead and 2 actually yield sales – that’s a lot of insights from call to sale!
• Smart indexes blend KPIs and elements which are collectively valuable, offering actionable insights and weighing particular activities against one another – data is visualised, available quickly and at a glance

Compiling data from different sources and activities from differing areas of an organisation adds value. In fact, a detailed chain of interlinking insights can be drawn from carefully arranging data in a user-friendly manner.

For example, perhaps data is being extracted from activity-based sales performance, and later combined with data compiled by human resources to track staff wellbeing. We know that wellbeing affects productivity, and that this in turn affects sales. Therefore, results drawn from these two customised parameters provide a specific index, showing real, trustworthy correlation between data, revenue and other employee statistics.

What’s more, smart indexes can easily be distributed by managers to thousands of employees – one detailed KPI effectively replaces many other standalone entries that lack value when reported separately, maybe even across different departments using different systems. Building an intelligent KPI index allows managers to see correlation from call to sale, ideally viewing results from one combined platform.

The Goalplan Solution

• Allowing you to act proactively when it comes to converting inputs into actionable insights
• We provide an automated partnership for the journey in between, in order to boost effectiveness
• Goalplan not only offers the ideal partnership for all of your sales performance needs, but also completely tailors one platform to cater for all of your requirements
• KPIs can be blended in order to guarantee maximum productivity
• With personalised tools such as broadcasting functions, push notifications, employee surveys and activity trackers, the app brings everything under one umbrella, accessible across devices – anywhere, anytime…
• The KPI index feature can also be used in broader terms, for example as an educational franchise solution

Summary – KPI indexes that tell the full story, as defined by YOU 

With Goalplan, you remain in control. Assigning values to specific measurable outcomes offers transparency, balance and an honest reflection of what really drives performance in your organisation. Knowing what makes staff tick, ensuring that they’re in a good frame of mind and working towards SMART targets, should pave the way to dedicated efforts and enhanced performance potential.

Defining a small set of indexes that basically tell a continuous story, keeps you up to date in real-time. Each specific index will provide a multitude of insights and actionable content, using a bespoke application which could revolutionise your entire business. Investing in digital transformation with a focus on KPI reliability and solid performance indexes, is a sure way to guarantee productivity.

Just imagine how Chris Gardner’s efficiency could have benefitted from the right tools – his managers could certainly have used some guidance and expertise in how to get the best from their sales teams, without burning through phone lines in a haphazard manner.

If you’d like to find out more on how to digitally transform your business and make the most of actionable insights from KPIs and embedded analytics, look no further – Goalplan will be delighted to hear from you. Simply get in touch here.