The Importance of Goal Tracking and KPIs for Distributors
In distribution, the ability to stay competitive, agile, and efficient cannot be understated. One of the most effective ways to achieve this is quality goal tracking and easily referenced Key Performance Indicators (KPIs).
In an era where data is king, harnessing the power of these metrics is a game-changer for distributors when you make the most of them. Let’s delve into why they are essential and which metrics are useful to distributors.
Visualize Sales and Performance
With the help of advanced analytics and automated systems, distributors can gain insights on sales and performance that are typically hidden within a labyrinth of data.
These metrics are not only automatically analyzed and pulled by these tools, but you can quite literally visualize what your data means, as many of them offer a visual representation that makes it all simpler to interpret and utilize practically. Data is then more digestible and it empowers strategic decision-making at all levels of the company.
This also means you gain access to the most up-to-date data with reports generated automatically, offering an accurate snapshot of how your teams and the company as a whole are performing right now. This way you have a clear view of what’s happening in your business every day, rather than just at the end of the month.
Not to mention, compiling lengthy reports manually is a time-consuming and tedious task. Technology allows you to access comprehensive reports with just a click when you need insights into how your products, teams, and individuals are performing.
Reduce Manual Effort and Improve Productivity
Traditionally, tracking goals involves manual data collection and analysis, a time-consuming and error-prone process. Especially for busy sales representatives that need every hour of their day for contacting customers, and would rather not waste that time on manual data logging, tracking, and analysis. Or for their sales managers, who have enough on their plates as is.
All of this can done by technology, saving time and effort while simultaneously making things easier to use and understand. These automated systems compile, process, and display your data in real time, allowing you to focus on what matters most—growing your business and serving your customers.
Personalized Goal Tracking
Technology in platforms such as modern CRMs can tailor performance reports for each team member. This personalized approach allows distributors to track overall team or company performance, and for individuals such as sales reps to track their own individual progress and identify areas for improvement, ultimately boosting productivity.
Team members can receive actionable feedback as well as be sure they’re meeting their goals each day, and at just a glance so that it’s truly simple to track daily.
Goal tracking and KPIs, when done correctly, are powerful tools for distributors in today’s data-driven world. Whether you’re a small distributor or a large enterprise, implementing goal tracking and KPIs will undoubtedly drive productive behaviors and provide clarity of your overall business’ progress in an increasingly competitive market.
SupplyMover is an all-in-one system, bringing distributors cutting edge CRM solutions, e-commerce, and sales enablement tools.
To learn a bit about SupplyMover, watch this video: