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Performance evaluation dr.jadeja

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Performance evaluation dr.jadeja

  1. 1. SALES FORCE MANAGEMENT <ul><li>MONITORING AND EVALUATING PERFORMANCE OF </li></ul><ul><li>SALES PEOPLE </li></ul><ul><li>BY, </li></ul><ul><li>Dr.Jayraj Jadeja </li></ul>
  2. 2. Points taken care of, <ul><li>Needs and Objectives of Monitoring </li></ul><ul><li>Steps in measurement of sales force performance </li></ul><ul><li>Information sources for evaluation </li></ul><ul><li>Methods of sales force evaluation </li></ul><ul><li>Controlling Sales activity </li></ul>
  3. 3. Need And Objectives of Monitoring <ul><li>Monitoring means “Keeping abreast of the salesmen’s through a formal feedback.” </li></ul><ul><li>Need for monitoring </li></ul><ul><li>To control sales effort </li></ul><ul><li>To gain insight into individual sales man’s performance </li></ul><ul><li>For self improvement of sales person </li></ul><ul><li>Objectives of Monitoring </li></ul><ul><li>To have information about all sales activities </li></ul><ul><li>To get data for evaluation of sales force </li></ul><ul><li>To detect deviation from standard performance </li></ul><ul><li>To help salesperson plan his work </li></ul>
  4. 4. Principles of Sales evaluation program <ul><li>Realistic </li></ul><ul><li>Continuous </li></ul><ul><li>Constructive </li></ul><ul><li>Motivating </li></ul><ul><li>Informative </li></ul><ul><li>Participatory </li></ul><ul><li>Objective </li></ul><ul><li>Flexible </li></ul><ul><li>Specific </li></ul><ul><li>Economical </li></ul>
  5. 5. Steps in measurement of Sales force performance <ul><li>Establish sales goals and objectives </li></ul><ul><li>Set performance standards </li></ul><ul><li>Compare actual versus standard performance </li></ul><ul><li>Give periodical performance evaluation feedback to SR </li></ul>
  6. 6. Establish sales goals and objectives <ul><li>Developing sales plan </li></ul><ul><li>Sales plan is a method devised for achieving sales objectives </li></ul><ul><li>Sales plan consists of, </li></ul><ul><li>Situational Analysis </li></ul><ul><li>Opportunities and problems </li></ul><ul><li>Action programs </li></ul><ul><li>Performance Evaluation System </li></ul>
  7. 7. Set performance standards <ul><li>Performance standards are planned achievement levels that sales organization expects to reach at progressive intervals throughout the year </li></ul><ul><li>Two types of performance standards </li></ul><ul><li>Quantitative performance standards </li></ul><ul><li>Qualitative performance standards </li></ul>
  8. 8. Quantitative performance standards <ul><li>1. Sales Quotas </li></ul><ul><li>How much for what period </li></ul><ul><li>2. Gross Margin or Net Profit Margin </li></ul><ul><li>Net Profit / Total Sales </li></ul><ul><li>3. Sales Expense Ratio </li></ul><ul><li>Selling Expense / Total Sales </li></ul><ul><li>4. Market Share </li></ul><ul><li>Company sales as a percentage of industry sales in territory </li></ul><ul><li>5. Returns on Asset management </li></ul><ul><li>(Total sales - current sales expenses) </li></ul>
  9. 9. Quantitative performance standards Conti….. <ul><li>6. Call frequency ratio </li></ul><ul><li>Number of prospects contacted / Number of calls made </li></ul><ul><li>7. Order call ratio </li></ul><ul><li>Number calls made / Number of orders received </li></ul><ul><li>8. Average order size </li></ul><ul><li>Total sales / Number of orders </li></ul><ul><li>9. Sales coverage effectiveness index </li></ul><ul><li>Number of customers / Number of prospects in a territory </li></ul><ul><li>10. Average cost per call </li></ul><ul><li>Total expense / Number calls made </li></ul><ul><li>11. Sales calls per day </li></ul><ul><li>12.Non- selling activities </li></ul>
  10. 10. Qualitative performance standards <ul><li>Sales related activities </li></ul><ul><li>Customer relations </li></ul><ul><li>Sales call preparation </li></ul><ul><li>Report preparation </li></ul><ul><li>Marketing intelligence </li></ul><ul><li>Selling skills </li></ul><ul><li>Company knowledge </li></ul><ul><li>Competitors’ knowledge </li></ul><ul><li>product knowledge </li></ul><ul><li>Customer knowledge </li></ul><ul><li>Communication skills </li></ul><ul><li>Quality of presentation </li></ul>
  11. 11. Qualitative performance standards Conti….. <ul><li>Personal characteristics </li></ul><ul><li>Enthusiasm </li></ul><ul><li>Motivation </li></ul><ul><li>Appearance </li></ul><ul><li>Patience </li></ul><ul><li>Initiative </li></ul><ul><li>Resourcefulness </li></ul><ul><li>Ethical and moral Behavior </li></ul>
  12. 12. Information sources for Evaluation <ul><li>Company records </li></ul><ul><li>Customer contacts </li></ul><ul><li>Sales people reports </li></ul><ul><li>Manager’s field visits </li></ul><ul><li>Manager’s personal insights </li></ul><ul><li>External sources </li></ul>
  13. 13. Sales people reports <ul><li>Salesmen’s reports are classified into seven categories. </li></ul><ul><li>1. Salesmen’s work plan </li></ul><ul><li>2. Progress report </li></ul><ul><li>3. Expense reports </li></ul><ul><li>4. Potential new business </li></ul><ul><li>5. Report on lost business </li></ul><ul><li>6. Report on compliant and adjustment </li></ul><ul><li>7. Report on general business conditions </li></ul>
  14. 14. Methods of sales force evaluation <ul><li>Two types of methods </li></ul><ul><li>1. No Involvement of sales person </li></ul><ul><li>Ranking </li></ul><ul><li>Rating scale </li></ul><ul><li>Essays </li></ul><ul><li>BARS (Behaviorally Anchored Rating Scale) </li></ul>
  15. 15. Methods of Evaluation Conti…. <ul><li>2. With involvement of sales person </li></ul><ul><li>Evaluation interviews </li></ul><ul><li>Self-evaluation </li></ul><ul><li>Appraisal of evaluation program by Salespeople </li></ul><ul><li>MBO (Management By Objective) </li></ul><ul><ul><li>Open communication </li></ul></ul><ul><ul><li>Mutual participation and agreement </li></ul></ul><ul><ul><li>Coinciding goals </li></ul></ul><ul><ul><li>Rewards for performance </li></ul></ul>
  16. 16. Controlling Sales Activities <ul><li>Control process consists of, </li></ul><ul><li>Measuring </li></ul><ul><li>Process of obtaining information about sales and merchandising objectives </li></ul><ul><li>Evaluating </li></ul><ul><li>Search for the cause </li></ul><ul><li>Directing </li></ul><ul><li>To correct the unfavorable situation </li></ul>

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