Use The 3 Ms To Manage Your Sales Team

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Pulled from the archives of the Predictable Profits Insiders’ Club Newsletter, today we’re looking at some timeless lessons for managing sales teams.

This comes from the “Ask Charlie” section of the newsletter. It’s a response to a specific question, but these tips apply to so many different scenarios!

Let’s get right into it!

QUESTION: ”Hi Charlie, I’m growing my sales team from 1 to 5 people. They are located all around the US. Can you recommend any strategies for managing my team?”

ANSWER:

This is a great question!

The best way to do this is to follow the “3 Ms” – motivation, management, and marks.

Motivation

Weekly group meetings (lasting no more than an hour) are a great way for the team to discuss what’s working, what’s not working, and make time for skill development.

Weekly meetings must be held as a non-optional, standard appointment with your team during non-peak sales times, and can be attended over the phone (Google Hangouts are a great tool to have virtual face-to-face meetings).

These weekly meetings help maintain motivation.

Management

In order to keep rock star talent, it’s critical to also maintain regular communication with your team on an individual basis.

Schedule 15 minutes a day to talk with your sales people – learn about their deals, challenges, and where applicable, offer spot coaching.

Failing to speak with your team (individually) every day is a leading cause for employee turnover and poor performance.

Marks

Establishing “marks” will let your team know how successful they are at meeting your expectations.

In my company, we establish 3 marks: dollar volume of sales, number of conversations, and number of telephone dials.

We monitor the salesperson’s marks starting with sales (clearly the most important number).

Now, because you can’t always control how much money a salesperson will close in a given day/week/month, you must also measure against marks that can be more controlled.

If the salesperson didn’t hit their mark in sales, we then review the amount of conversations the salesperson had to determine if:

• A: they had enough conversations but didn’t convert enough sales, what impacted the salesperson’s conversion rate and what can you do to help…

and/or

• B: they didn’t have enough sales conversations (and again, you can’t always control how many people will pick up their phones).

Then we must determine if they hit their mark with dials (they can control how many dials they’ve made).

Now, as long as they hit the number of dials – we strive to determine more ways to assist the salesperson in optimizing their results through technology, time-of-day, day-of-week, etc.

Hope that helps!

In your corner,

Charlie

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