If you’ve got a product or service that your company manufacturers or supplies, then you’ve most certainly got sales, category and marketing teams.
With various tiers of management within business units, comes various levels of skills, knowledge and experience.
From a financial aspect comes a large bottom line cost.
Therefore, if that cost is not providing you with the expected ROI, then put simply, it is not allowing your business to be as effective as it could.
As the MD or CEO you are ultimately the key voice and vision for the successful delivery if your #business strategy, yet the success is underpinned (or not) by the rest of the channels in the company.
So are you really getting what you pay for?
The deliverables required will have been set out in your strategy for the year, but is everyone really on board?
With a selection of company measures in place,from kpi’s to 121 appraisals from channel heads, the optimum measure will be the success achieved against the goals set out in the strategy, ultimately if these are not being achieved then something is fundamentally wrong.
Audit & Assessment
Stormley consulting understand the importance of auditing your people and customers to make a full assessment of the key areas that require tuning.
Are you receiving clear information reported back, or just the bits that they know will shine?
What’s are the customers saying really about the end to end experience
What’s the measure of performance across the individuals, not the departments?
Are the channel directors empowering their teams and really supporting the strategy?
What support is needed where and with who?
What growth is being missed, yet available through untapped channels?
Are 121 appraisals driving development in people and coaching them for growth, it simply ticking a box?
What are the teams feelings and drivers?
Working as a tight fluid unit, all joined up, entirely misaligned or just driven by their monthly salary cheque.
Considering using a consultant
So you are at full capacity with your sakes and marketing teams annual budget, yet not alk the people you pay are supporting that budget?
The fact is that maybe they could yet need to be heard, coached, mentored, empowered, but their current situation doesn’t provide this or allow it.
How many businesses have fantastic people, with fantastic talent, yet a line manager or director is not providing the level of support to extract and develop this..
How much of the focus is on the target v how much is on the people that deliver it?
Driving for key accounts and new channels of growth only works if the people who will support the accounts experience are confident in themselves, and possess the skills to deliver this.
If they are driven solely by a kpi then it’s numbers oriented selling.
If they are driven by opportunity and fresh challenges that they learn from, then it becomes culture sales driven as well.
Investing in time spent with a consultant offers an external impact that doesn’t detract from the strategy, but does put the team confident of achieving their goal.
Stormley consulting recognise the importance of understanding your goal, culture and development opportunities for your people.
Embracing millennial knowledge is useful and the post below, written by one, anchors some key learnings businesses and it’s leaders can both embrace and learn from.
In short they want to learn from you as leaders in business, as much as we should now require to learn from them.
In the electronic world we live in, where the majority of consumers and potential new clients use ‘smartphones’ it is vital that a company is seen on all social platforms, yet more importantly they need to be seen and heard on them.
Stormley Consulting did some brief research this week on large, medium and small businesses in the UK, many of them are on social media, yet have not used it in over as month, some over 3 months and even some over 5 months?
The main focus was on Twitter accounts and it was amazing, that for such large brands and followers, there is no interaction with their customers for such a long period of time.
Photos, visuals are the most viewed, yet links to interesting topics, competitions, calls to action also play a major part.
What is the overall global viewing opportunity?
When was the last time your business tweeted content?
If you are an employee of a business, no matter your position, go and explore, hunt out your company and its content.
How visible are they?
Is the content a cal to action?
What platforms are they on, or not on?
When was the last time they communicated?
Who is in charge of the content?
What happens with leads and conversions?
Can you add value and suggestions?
Do your colleagues and friends engage and interact?
There are so many possibilities for growth and opportunities, yet if some businesses believe that product and brand alone are strong enough, then the social platforms may be getting overlooked?
No matter how big or small a business is, it needs customers, to acquire customers it needs to engage and be visible.
Whilst many purchases still take place over the counter and transactions are a human connection, the move to social online ordering continues to increase. Therefore whilst bricks and mortar sales will most definateley remain on the high street, the need for an omnichannel approach is immense.
The attached report documents this growth by nation, below are the key takeaways from the (centre for retail research)
As a business enters the annual sales cycle at the very least the following would be in place
Strategy for the business
Financial Target and Profit return
KPI’ measures for departments
These offer a focus, a challenge and a measure of what is being executed….but if the KPI’s are only focused on the financial target and the individual performance against it, they miss vital key areas.
Fine tuning your people
To gauge the performance of the team we have to gauge the performance of the individuals that make up the business unit. Whilst in overall terms we can see the achievers as a top to bottom by value of sales achieved or margin returned, this just doesn’t get to the detail.
Business 121 appraisals that are held at least annually focus on the individual, but how many times do they focus on the ‘shortcomings’ of the KPI, rather than the reasons for them under-performing in the first place?
The 121 can identify productivity weakness through the facts, but it needs to become a tool to encourage, understand and empower the individual, not tell them what they already can see for themselves.
How can they be assisted?
What support do they require?
Why do they feel that they have under-performed?
What is holding them back?
Can other members of the team support?
How do they feel about this?
Do they have a desire to learn and develop?
Focus on the whole team not the half
It can be very easy to only focus the performance coaching on the members of the team that are under-performing, yet this can be a false focus.
Example of focusing on the whole and not the half
When we look at a sales manager and target is achieved, then their goal is reached?
When we look at a customer and view sales performance verses the previous year, then the picture is positive?
Overall the top line statements in the example are correct, yet the fundamentals that are missing are in the detail highlighted below
What opportunities have been overlooked even though target achieved? (Incremental & New)
What areas of their performance have been strong and which have been weaker? (Channel or category split)
Existing business growth by product range architecture
How many trading customers over a certain turnover threshold?
What is the quality of the display or POS in each managers customers?
The team, the customers, the products and gaps in the sales process.
Ultimately every business pays a sales team, category team or marketing team to sell, develop and promote its products. This is then returned in sales out and brand awareness for repeat business. All of this can be measured and finally seen in the profits.
Therefore, if you require the sales you require the consistency as what you require should not be just measured financially in sales, but globally in aptitude and ability within the role they each do.
Simple measures to grow your business and your people
Measure the person, not just products and profits
Percentage of time focused on New, Existing & Key Account Management
Conversion rates by channel, by products
Display Base verse the ROI by region
Postcodes with no customers trading or poor performance
In Store visibility & brand consistency achieved by them
Number of Contacts they have within Key Accounts (partnerships & engagement)
Gap Analysis of ranges they have achieved within accounts
Attendance & Punctuality across 12 months
As with any KPI only measure what you require to use.
You may have 33% of your revenue stream coming from 3 of your 10 strong team, this does not mean that they too cannot equally be measured on their personal performance as well as their target performance.
Stormley Consulting can work with you to take a full 360 view of your team, their strengths, development needs and business opportunities available to them.