The notion of commercial performance is the center of attention for business leaders concerned about the efficiency of their boxes. Whether you are an entrepreneur and the sole employee of your business or the boss of a large subsidiary, you are looking to optimize your energy, your budget and your time in order to always obtain more returns. It can be about financial profit, that is to say, increasing your sales and boosting your turnover, but it can also be to increase your visibility or your notoriety.
The business performance of a company can be assessed using indicators that reflect its state of health. These are essential elements that every director must study carefully and regularly.
In addition, with new digital technologies, it is all commerce and sales systems that evolve and adapt to their new consumers. To obtain a good commercial performance, companies are forced to keep up to date and appropriate these new digital strategies in order to convert a larger audience.
So what is business performance, what are its benefits, and how can you harness it? Find the answers to your questions and the 4 secrets of successful companies now!
What is business performance?
As its name suggests, commercial performance refers to obtaining a maximum return, a better profit with the means at its disposal. . It is therefore about doing MORE with LESS. Commercial performance does not only concern revenue revenue, but also customer satisfaction and loyalty. Business efficiency indicators, also called KPIs (Key Performance Indicators), reflect the business performance of your company. They allow it to be evaluated.
Commercial performance is therefore also the ability to satisfy its customers by offering them products, services or qualitative services with an attractive price placement. The more attractive the relationship between quality and price, the more the company expands its customer portfolio and therefore increases its performance.
You can compare business performance to a dashboard showing the state of a business. Which parts are fully optimizing their energies and which are not? How to remedy this? It is therefore a question of measuring the effectiveness of the sales forces and the weaknesses of your company.
What are the benefits of business performance?
Analyzing your sales performance means studying your overall performance and identifying :
- The weaknesses of the company, the points to be reviewed and reinforced (to help you in this task, use the matrix SWOT );
- The thriving levers, those that are operational;
- Opportunities to seize, future projects for the brand (remember to rely on the results of the analysis PESTEL ).
The concept of business performance relates to many key areas that measure the effectiveness of a business. Thanks to the commercial indicators, establish a dashboard and trace your successes, but also your failures in order to be able to anticipate them by reworking them. We measure with the help of precise figures, its commercial effectiveness, in order to know its weaknesses and to be able to remedy them by readjusting its strategy and its means.
There are many advantages to sales performance:
- Attractiveness to its customers and prospects,
- Improved productivity and profit,
- Stimulation of teams,
Obtain good performance indicators
Is your company performing commercially? Have you gained market share? Is your conversion rate of qualified prospects into loyal customers rising sharply or has it already reached a more than satisfactory percentage? This is the indirect consequence for companies that have a effective business strategy . Your products, your services or your services genuinely respond to the problems of your target, moreover you have optimized the productivity and the quality / price ratio as well as possible in order to double your competitors. With these attainable indicators, you progress quickly and achieve better results. In addition, an efficient and controlled prospecting campaign allows you to quickly establish yourself as a leader in your market.
To increase your conversion rate and become a benchmark to beat in your field of activity:
- Work on your image in order to enhance it;
- Become an expert in the eyes of your community by offering qualitative content, high-end advice and qualitative services.
The goal is to attract qualified prospects, that is to say, to prospect the people most likely to be interested in your products. Go find consumers who have a real need, in order to provide them with solutions.
The image of your brand is valued and you become an expert in the eyes of your customers and your competitors. When a box is renowned for its quality or its choice of products, for example, its reputation is set up almost by itself through word of mouth and the gratuities of loyal customers on the social networks. You manage to convert new prospects and boost your returns.
Improve your performance
Putting in place strategies and means that allow you to improve your commercial performance is essential for your business to prosper . This translates into excellent indicators, for example: increased turnover, a positive conversion rate and increased customer satisfaction.
In other words, the more your company benefits from a good commercial competitiveness, the more it asserts itself and shines. So how do you achieve this? Discover the secrets of successful companies in the rest of the article!
In addition, to improve its performance, appropriate processes are put in place to be more productive, improve customer relations and increase the quality of its products or services. We are trying to produce more and better by adjusting strategic levers and analyzing their effectiveness. The aim is to modify the internal organization in order to increase profit and achieve objectives
Boost your sales performance thanks to the 4 secrets of successful companies
Commercial performance is a vast notion that first of all needs to be clarified. To do this, set more precise goals and put in place concrete actions to achieve them. In addition, there are certain business and marketing methods that can dramatically increase your results.
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1. Adopt smarketing to join forces
This strange name is the fusion of sales and marketing. As the name suggests, smarketing consists of making the sales and marketing teams work together without necessarily merging.. Indeed, the internal functioning of companies is still too little modernized and very often, the fields of marketing and commerce do not collaborate in the same direction. They are siled and limited to divergent objectives, yet these two teams are essential because they impact the buying journey.
Smarketing brings together the commercial and marketing aspects around a common goal. The two teams work in unison instead of being rivals. When the objectives are common and when all the employees work to achieve them, the results speak for themselves: they are on the rise.
Companies that have chosen to align their marketing and sales teams see an average 32% increase in their revenues per year, while those that operate on the classic model by opposing them, lose around 7% per year *.
The smarketing does not require a significant budget, simply the modification of the organization of the box internally. For example :
- The objectives are revised to make them accessible to both teams thanks to the SMART method .
- Then, the implementation of an SLA (Service Level Agreement) to guarantee a good understanding and a good common progress of the two teams. The SLA is a pact which ensures the quality of a mutual service. For example, marketers commit to sending 100 leads per month to salespeople who promise to contact them twice a month. All this to succeed in increasing the turnover of 5000 € per month.
- Check in regularly with your teams to monitor the mission and identify any obstacles.
2. Install a CRM tool and improve its sales performance
To boost your customer satisfaction and therefore increase your sales performance, the installation of a CRM (Customer Relationship Management) is essential. This IT tool records customer information in a centralized database. Thus, each advisor has all the information necessary to help or guide the client to meet his concerns and expectations.
CRM offers the possibility of being more responsive and precise to the needs and demands of consumers and of being one step ahead of their requests. Indeed, the CRM does not only record customer data, but also updates them. This incredible device allows you to improve your commercial competitiveness by maintaining your customer relationship.
3. Scoring or aiming just to optimize your time
This method consists of assigning a score to each customer or prospect which represents a strong conversion potential. In other words, some of your customers are more receptive to your advertisements, for example, or they buy regularly. These are the people you identify with the scoring, in order to target them as a priority in future campaigns.
Customers are therefore ranked according to their level of interest in your brand. For example, each time one of them opens one of your emails, he gets 10 points, if he browses your website, 10 more points, and if he buys you give him 50 points.
The end goal is of course to identify the individuals who are the most receptive in order to optimize your advertising campaigns based more on these profiles. You save time and money by selecting the right people through scoring and you get a positive result with no unpleasant surprises.
4. Social selling, digital prospecting to increase sales performance
It’s a marketing strategy that consists of finding new customers on social networks, it’s a bit of a digital way of prospecting . Social selling is the fact of using social networks to support the prospect throughout the sales journey:
- Before the sale, by providing information about your product / service or your business,
- during the sale to promote contact with your prospects,
- after the sale, by maintaining a link with your customers.
the social selling increases the commercial performance of your company, because it allows you to have access to a lot of information on your leads and thus, better approach them. Because yes, it is a question of prospecting, but this is clearly different from an aggressive and constant approach. On the contrary, sales consultants play the card of benevolence and personalization. The dialogue is warm and generally well received, because the research work carried out upstream makes it possible to identify the problems of the leads, and therefore to provide them with help. Social selling is a good way to have a good conversion rate from leads to customers.
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According to a study, 75% of shoppers use social media to get information about a brand, product or service *! Social selling is therefore the prospecting process that is on the rise and can help you increase your sales performance!
Commercial performance: Conclusion
The sales performance therefore makes it possible to obtain a dashboard corresponding to the state of health of your company. It allows you to activate levers in order to seize sales opportunities and identify the strengths, but also the weaknesses of your business. It is a precious help allowing to progress and to develop a box. Here are the takeaways from sales performance:
- Performance indicators are a reflection of your business performance. Pay attention to their values, as they indicate if you are on the right track to achieving your goal.
- The advantages of commercial performance are manifold. For example, it is possible to obtain a better customer conversion rate and increase your turnover.
- To boost your sales performance, use marketing and sales strategies like smarketing, scoring and social selling.
- A CRM tool is also effective for having your customers’ information centrally and updated.
Commercial performance: to sum up in 4 questions
Comment évaluer la performance commerciale ?
Commercial performance is assessed using several performance indicators also called KPIs. Among them, we find:
- The click-through or open rate of emails;
- The time spent on your website, your social networks;
- The percentage of the margin;
- The customer conversion rate.
Pourquoi analyser les performances commerciales ?
The study of your commercial performance makes it possible to draw up a dashboard of the state of health of your company. Thanks to it, you quickly identify what are its strengths and weaknesses, as well as its opportunities. You remedy these flaws by reviewing your strategy or by investing more resources. You get a clarified vision of the opportunities to be seized which allows you to work on the implementation of a business development plan.
Comment améliorer la performance de l’entreprise ?
Depending on the goal you are aiming for, there are multiple ways that improve business performance. For example :
- Adopt a smarketing strategy to unite the strengths of your workforce in the same direction.
- Invest in efficient tools such as CRM to improve customer relations.
- Update your prospecting techniques to optimize your time and energy.
- Define one or more objectives that respect the SMART method.
Quels sont les facteurs de performance d’une entreprise ?
There are several performance factors that reflect the health of a business.
- The profitability ;
- The productivity ;
- Achievement of objectives ;
- Payment terms for clients;
- The rate of customer satisfaction.
* Sources: Comexplore , Kissthebride