Business Benchmark Based Scoreboards for Business Performance Management

Business Benchmarking on a basic level involves collection and comparison of data. Simply comparing this years monthly or quarterly sales performance numbers with last years equivalents is a form of benchmarking.

Comparing revenue or profit per employee with a competitor's numbers is the same thing. Doing so on a casual or annual basis using macro measures is of value however, such broad measures reviewed at long intervals lack influence over the micro habits, practices, and decisions that impact short term performance improvement.

Q. What sales benchmarks have teeth.

A. Those that are immediately visible.

Benchmarks have teeth when they are immediately visible and displayed alongside peer data for comparison. Making benchmarks visible to all staff magnifies their effectiveness. Most companies recruit sales people to compete for business. Those most attracted to this kind of work are naturally more competitive than others. Published benchmarks lessen the management load and impact results.

Q. If benchmarking is so effective, why don't companies make more use of benchmarks.

A. Gathering and presenting the data in an automatic and consistent manner is harder than might be expected.

There is a lot forethought, planning, and preparation required to achieve success. Reliable third party data is harder to obtain than in-house numbers.

Outside support is sometimes necessary to give benchmarking projects sufficient focus and impetus to achieve results.

We can guarantee results. Subject to a qualifying discussion and a pilot investigation, we will guarantee an improvement of at least 5% in sales productivity by agreed measures.

If you need to improve business performance management and would like to explore business benchmarking options, we can help. Telephone +44 (0)118 933 1357. We will be pleased to discuss your needs or talk through the options. Send email to custserv@salessense.co.uk for a prompt reply or use the contact form here. Follow the links below for information on related topics.