Don't Let Spreadsheet Lag Slow You Down
SalesOps teams are experts in sales process, enablement, systems, and teamwork. However, getting everything done during Q4, wrapping up this year, and preparing for the next year takes great effort. Finishing the year strong is the priority, but don't let stress around annual sales planning work hold you back.
SalesOps and their sales leaders admit that they dread the task of sales planning and don’t have the right tools or time to facilitate the new year planning. But time doesn’t wait: all sales reps want to know their sales quota at the start of the year. They don’t want to wait, don’t like the delay, and undoubtedly are less productive during the period of uncertainty.
It's time to streamline your sales planning process and improve accuracy by ditching spreadsheets. Learn why sales ops teams should switch to a more efficient solution that will get sales quotas and compensation plans in the hands of reps before the end of month 1, so you can start the year off on the right foot. Great sales teams run great processes, and with the right tools, you can too.
The Cost of Getting Sales Planning Wrong
Sales quota planning is the most crucial planning process for sales teams.
According to a Forbes article, “57% of sales reps missed their quotas last year”. This is significant. And while there can be many factors contributing to this statistic, one thing is certain: a sales rep that misses their quota will often leave the company.
Hubspot indicates in an article that they published in 2019 that “the average sales turnover rate is 35%.” Losing a sales rep is very costly. The cost of replacing a salesperson is often three times their annual salary. It can cost six, seven, or sometimes even eight figures, accounting for hiring fees, salary, overhead costs, training costs, lost sales, and management time spent.
Having a sales quota plan in place at the right time that is accurate and trusted is a no-brainer. But what really happens? The reality is, many sales teams struggle with creating a sales quota plan that is accurate, timely and trusted. That's where sales ops teams come in. They are experts in sales process, enablement, systems, and teamwork, and can help to develop a sales quota plan that is tailored for your business.
By using the right tools and streamlining the process, sales ops teams can ensure that the sales quota plan is in the hands of reps before the end of month one, so you can start the year off on the right foot. Don't let spreadsheet lag hold you back. Improve accuracy and reduce turnover by optimizing the sales quota planning process.
Overcoming the Limitations of Spreadsheets
The SalesOps team creates hundreds of spreadsheets to crunch the numbers. Spreadsheets for every sales rep tracking their territory, their quota assigned to them, their opportunities and pipelines, and the incentive compensation plans to measure and payout each sales rep. Then there are planning, forecasts, and endless modeling and analysis spreadsheets. With hundreds of spreadsheets, the pitfalls pile up and there are many reasons for this, but one thing is certain: it's time to streamline your sales planning process.
Don’t get us wrong. Spreadsheets work great, we love them. But like all tools, they have their limitations. No one has the budget or time to check for errors, make sure everything is up to date, keep track of sharing to make sure everyone is using the right version. In addition, there is no time to improve the spreadsheets for fast moving business changes, new information, they get frozen.
Moving Beyond Spreadsheets with a Sales Planning App
When it comes to sales planning, spreadsheets are often the go-to tool for many teams. They're familiar, easy to use and can handle a lot of data. However, as any sales team knows, managing a sales plan is not just about data entry, it's also about analysis, collaboration, and execution. And this is where spreadsheets fall short.
But what's the alternative? It's time to switch to a more efficient solution: an app. An app is a software program that runs on a computer or mobile device and is designed to perform specific functions. In the case of sales planning, an app can help you manage your sales plans, quotas, and other sales-related information in a more efficient and effective way. (Side note: while there are many examples out there, Arithmix's Quota by Rep App Template is a pre-built, flexible app that can get you started quickly-- for free.)
One of the key benefits of using a sales planning app is the automation of tedious tasks such as data entry and error checking. With an app, you can easily import, organize and analyze your data, without the need for manual input. Additionally, collaboration becomes a breeze as you can share and access the same information from any device with internet access, and with the right app, you can also easily integrate with other tools and platforms you use.
Another benefit of using a sales planning app is the ability to customize it to your specific needs. With features such as slice/dice pivoting, drag/drop positioning, and multi-dimensional database power, you can create a sales plan that is tailored to your business.
Finally, security is another important aspect of any sales planning app. With data stored on remote servers, and easy backups and restore options, you can be sure that your data is safe and secure.
With an app, you'll be amazed at how much more efficient and effective your sales planning process can be.
The Right Tools Set Everyone Up For Success
Sales planning is a critical process for any sales team, but it doesn't have to be a dreaded task. By streamlining your sales planning process and moving beyond spreadsheets, you can improve accuracy, reduce stress, and avoid undue costs to the company. With the right tools, you'll be able to start the year off on the right foot and give your sales reps the quota and compensation plans they need to be successful. Remember, great sales teams run great processes, and with the right tools, you can too. So, take the first step towards streamlining your sales planning process and try out a sales planning app today.
You can try the Quota by Rep App Template in Arithmix for free. And while the Quota by Rep template is just one of many templates the Arithmix team is building, you can build your own app in Arithmix from scratch as well.
