KPIs Every Field Rep Should Improve
Field reps spend a great deal of their day talking to prospects, explaining products, discussing deals, and do other non-selling activities that help them raise brand recognition and close more deals. But how do companies track performance of all of this?
Based on interviews we made with our clients, we will introduce the following key performance indicators (KPIs) as the most important to measure and improve when it comes to field reps.
But before we dive deeper, let’s see how crucial it is to choose the right KPIs and how to find your way to the most effective ones.
How to Choose the Right KPIs?
In their simplest form, KPIs are measurable values and data displays that help companies gauge performance of a certain department or individuals. KPIs are key factors to know whether you are taking the right path towards your strategic goals.
You can’t manage what you can’t measure, we found this to be true. When it comes to field reps, there is a long list of KPIs to measure performance. However, if you choose the wrong ones, you might be measuring something that doesn’t align with your goals or industry.
The good news is that you can always get back on track by rechecking your KPIs and know whether they contribute to developing the aspects they are set for.
In the following, we’ll help you get insights on how to choose the right key performance indicators to measure your field reps performance:
Define specific objectives
You can start by simple steps such as outlining your company revenue and growth goals. Similar goals include increasing gross profit, acquiring x number of new clients, increasing annual revenue, etc.
Identify actions to reach your preset goals
To select KPIs that inspire action, determine what actions need to take place to make goals a reality. For example, determine the number of deals you need to close to hit the target, how many new customers you want to acquire, the number of calls or visits your field reps need to achieve per month, etc.
Choose the best way to measure progress
Go with the metrics that give insight into progress. In other words, choose KPIs that you can measure on a daily or monthly basis and use them to make strategic business decisions. Additionally, KPIs should be clear with an obvious goal to hit, such as make X visits per day or close a certain number of deals.
Monitor and update your KPIs
You can’t rely on a spreadsheet or a static document to share your KPIs, since they are ever changing and need to be stored in a centralized and unified dashboard. Keeping your KPIs on an advanced dashboard helps sales teams and administrators know when field reps fall behind with their goals.
Top 5 KPIs to Focus on and Improve
It’s not efficient, nor is it professional to track everything going on in your business. For one thing, not all business aspects are crucial to track. For another, focusing on too many measures brings unnecessary work that won’t be useful.
Instead, select to focus on the metrics that are impactful enough to achieve goals. While we can’t determine the exact KPIs that work for your business, we can put together the most important ones to help you get started:
Sales number per store/customer
This is one of the key sales aspects that gives objective evidence of the main field resp tasks, which is selling. Measuring sales can also be a significant motivation that creates healthy competition amongst reps.
Number of closed deals
A telltale sign that your field reps are taking part in business growth and opening new opportunities. You can use this metric to appreciate the active employees and know how they stack up against each other in the field.
Engagement with customers
To build long-term success and build trust, your salespeople should regularly communicate with their clients. This will encourage clients to share their concerns and praise your services as being the most reliable and engaging.
Coverage of area and scheduled visits
Almost all field reps have a scheduled number of visits they need to achieve over a set period. When it comes to performance, visits in a certain geographic area should be completed within the given deadline.
Revenue growth rate
This KPI measures how good a field rep is performing as the time passes. When having a productive team, you’ll notice a month-over-month increase in revenue rate.
Salesforce Automation & Key Performance Indicators
In order to measure success of your field reps, you can opt for the salesforce automation to set KPIs and judge whether the following ones have been positively impacting performance.
To ultimately benefit from a sales and field force automation system, it’s better to predefine the most suitable KPIs for your business and which ones you believe will benefit your goals the best.
You can divide your KPIs into two main sets; one set can be related to pre-sales and other to post sales and customer satisfaction. This way, you can focus more on every sales stage separately based on its requirements.
Salesforce automation enables companies to monitor their KPIs, analyze results, and obtain market real time market information using metrics and simplistic data displays. Reports provided by sales force automation systems are both precise and informative, which will give way more control over every sales and business aspect.
Repzo: Set & Track KPIs Efficiently
At Repzo, we empower companies by providing simplistic and straightforward dashboards to measure KPIs and get real-time insights on how good every field rep is performing in the field
Thanks to its automation, Repzo optimizes visits and sales orders of every client and allows field reps to work incredibly easy.
This lets them focus on tracking their current performance, and compare it to the previous months. It also automated the daily mundane tasks, leaving much more room for creativity and enhancement.
To wrap things up, KPIs are a crucial success factor that needs to be continuously monitored and updated in a unified and centralized dashboard. Thus, automation came to bring ease and help better manage KPIs of different sales aspects all from one place and with high efficiency.