How to Use Leaderboards to Improve Sales Metrics
Leaderboards combine the competition of athletes and Key Performance Indicators to give your business a meaningful and engaging way to track your team’s performance metrics. By leveraging the power of gamification technology, sales reps can enjoy a live leaderboard that shows where they stand and how they can win. The social media era demands that businesses adjust their communications to keep up with how their teams digest content. Emojis replace long-form emails and presentations can be summed up in a tell-all graphic. Harnessing this form of social engagement to communicate important and dynamic details with your team will help your business communicate better and your team retain information longer. Gamification technology can be employed to meet a variety of needs: increase sales, track employee progress, communicate to a global workforce, and more.
Track to Improve
People thrive on recognition. By tracking and ranking sales performance of your reps, they’ll not only be more motivated to do well but will also learn what behaviors work to their (and ultimately, your) success. Embracing a digital workplace where performance is managed in real-time will not only improve sales, but also employee retention and happiness. You won’t need to schedule frequent one-on-one meetings to discuss progress because leaderboards and KPI tracking offer a clear picture of employee performance at the end of each day, week, month, and quarter. Performance tracking creates a unique opportunity to celebrate wins and maintain transparency.
Compete to Energize
Salespeople are in the business of competition. So, why not harness that energy through a custom dashboard to motivate your reps to come in first every day? Live tracking on a leaderboard creates momentum and energizes sales reps in a way that an Employee of the Month award cannot. Rather than competing for monthly accolades, a live leaderboard keeps your sales team competing each day for whichever metrics you track–highest conversion rate, most leads in a day, etc. Our research shows that friendly competition leads to a more productive and engaged workforce.
Connect to Interact
Emails and office newsletters are often lost or overlooked. Using digital signage to broadcast your sales metrics around the office engages team members through graphics and sounds that cannot be overlooked. Regardless if your team works remotely, in the field, or in-house, a digital broadcast of relevant company news, such as a team dinner or new sales contract, ensures everyone receives the same information as part of the same team. Stay connected to your team and make sure they feel like part of the same team with digital message boards keying everyone into the same information.
3 Ways Digital Signage Improves Sales Team Performance
The performance of your sales team directly impacts the success of your business. Improving sales should always remain top of mind, ensuring the growth and survival of your organization. Tapping into innovative methods of managing, motivating and rewarding your sales teams increases the productivity of the entire department.
Digital signage linked with sales databases represents an evolution in communication with sales staff. Instead of relying on email, real-time updates can be displayed on-screen for all members to take in. This creates a new level of transparency while enabling quick shifts in sales strategy and rapid recognition of top performers, improving the overall performance of the team.
Transparent Data Motivates Healthy Sales Staff Competition
Utilizing digital signage for staff increases transparency by communicating real-time sales results, including the numbers of individual personnel. Monitors and TVs placed in conspicuous areas can be used to show OKRs revolving around lead generation, sales pitches and conversions. Sales staff can visually track their own results while comparing their numbers to peers.
Leading a healthy competition for sales staff inspires individuals to perform at their best, ideally working together to boost the numbers of both the team and individual representatives. Visual updates can be set up to remind staff of the competition, listing ratios and volume of conversions, lead generation and pitching activities.
Transparent display of results serves as motivation for everyone involved in sales, including managers and supervisors. With quick access to real-time data, business leaders must hold themselves accountable for adjusting strategy according to visual info analysis. When leaders show that they hold themselves to the same high standards as their followers, morale and motivation rises across the board.
Quickly Refocus Sales Team Objectives
Improving the performance of sales teams often involves breaking down the sales process into individual steps. Each of these steps may be scrutinized individually to improve the entire process, turning raw leads into converted sales with greater success. When one part of the sales process appears to underperform, such as lead generation, a manager should focus on improving that aspect.
Digital signage may be used to rapidly communicate shifts in sales strategy, allocating resources and highlighting new objectives to facilitate changes. In addition to displaying messages for staff, monitors can show continuously updated stats pertaining to an OKR vital to achieving projections. If you want to motivate staff to create as many qualified leads as possible, digital signage can announce a contest for the staff member with the largest number of qualified buyers during the day.
The flexibility of monitors controlled through streamlined apps means that you can adjust the focus of your sales team on demand, broadcasting vital messages through visual media that facilitate rapid, effective communication.
Reward Top Sellers With Instant Recognition
Connecting your database to a centralized visual display system enables a rapid response to shifting circumstances. This feature also lets you provide instant recognition for sales staff who perform well. Digital signage may be used to broadcast the success of individual team members, lifting spirits and motivating the entire team. Personnel featured on-screen will appreciate peer recognition, especially if there’s a sales contest that involves compensation.
The act of selling often boils down to emotion, which makes the maintenance of sales team morale a vital aspect of managing performance. Employees who feel rewarded tend to become more engaged with their occupation, regardless of the work performed. Recognizing top sales performers serves to increase productivity in the future by creating an atmosphere that encourages positivity and productivity.
Can Digital Leaderboards Transform Your Sales Team?
If you haven’t heard the word, digital leaderboards are the new way to get your sales team pumped and motivated to sell. Anywhere you go, it seems like digital ads are taking over the walls and even crowding the freeway skies. It’s the norm to run into digital billboards and interactive kiosks at malls, airports, and along the 101 freeway through Silicon Valley (especially this freeway). It’s not surprising that many offices are making note of the trend as digital content reports a whopping 71% retention rate versus conventional billboard ads. Gamification and digital leaderboards are popping up more in offices that are aiming to enhance their sales team and use modern technology to improve performance.
While digital leaderboards may only seem to serve marketing initiatives, they take on a much bigger purpose for sales teams around the world. Through motivation and competition building, digital signage in the office can turn a lagging sales team into engaged and motivated superstars. Let’s look at some of the ways sales teams are using digital signage to boost conversion rates and grow revenue.
Integrate Digital Leaderboards and Gamification
The core of digital leaderboards in the sales environment is to create competition among the staff, and this success works partly because of the popularity of gamification. When done correctly, gamification can create a fun workplace culture while encouraging competition among sales members.
To take gamification one step further, companies can start to integrate digital leaderboards. This technology has the ability to:
- Announce new sales as they happen
- Celebrate top sales reps daily
- Congratulate top performers in real time
- Connect with social media to encourage engagement
- Be displayed on a variety of display options around the office
Research from Forbes found that including gamification in the sales process allowed team members to develop good work habits and learn new problem-solving skills. This combination is a win-win for any sales leader.
Sales leaderboards also create a goal-oriented mindset within your team. While your team understands the quarterly sales goals, being able to see their sales prospecting activities grow in real time can become the ultimate motivator.
Increase the Bottom Line
The key factor about digital leaderboards that any sales leader will want to understand is how they will affect the bottom line. With digital leaderboards, sales members are constantly aware of each other’s performance. This awareness means activities like these often increase:
- Sales calls and meetings made during the day
- New LinkedIn and business connections
- Record updates or follow up connections
These are the steps that make the needle move and contribute to healthy KPIs. Physically seeing the number of targets hit by your fellow reps leads to a desire to be at the top of the leaderboard and increase those actions needed to close the deal.
Use the Data Wisely
An up-to-date sales leaderboard gives company leaders a wealth of information to work with when improving the team. It’s important to create leaderboards that display information that’s important and centric to your team. For example, creating customized metrics like the ones below can help you gain more insight on the types of leads your team should focus on:
- Repeat sales (add-ons) vs. new visitors
- Conversion rates
- Total sales made
- Proposals generated
If one of your employees constantly ranks high for proposals generated, but another employee is a master at closing the deal, you should consider creating sales teams to ensure conversion rates remain high. Digital leaderboards are great for motivating the sales team on the floor, while upper management can wisely use the data generated to make changes that benefit the overall company.
Sales gamification and digital leaderboards are a great tactic to motivating sales teams and contributing to the year-end sales numbers. When digital leaderboards are implemented correctly, you can help bring the team together as you work toward a common goal.
Using Leaderboards to Increase Competition and Sales
A great leaderboard feeds competition and motivation to your sales team. It’s an easy way to help your sales team members increase productivity and sales, letting them have fun while meeting goals. Those working in sales tend to be naturally competitive, and gamification is an excellent way to encourage this quality. Researcher Brian Burke found that: “Gamification can be used to nudge salespeople to enter client information, assess the quality of sales leads, and follow-up after sales meetings. Following these steps leads to a more effective sales process, benefiting both the salesperson and the company.” With thoughtful planning and clear targets, leaderboards can take your sales team to the next level, reaching beyond quotas and improving performance.
Focus on Reinforcing Positive Behaviors
A good gamification system focuses on more than just the sexy stats, such as completed deals and sales. Most salespeople dismiss tedious tasks, such as following up on leads, filling out paperwork, and working on customer service skills. But the thing is , these tasks are just as important and are the ones that will take you that much closer to sealing the deal. The ideal system encourages proactive behaviors necessary for long-term successes. Reps who excel at completing the prospecting activities between deals are the ones who are closing the most deals. Once you start tracking reps for their activities, rather than solely basing leaderboards on deals closed, you can start to see more leads become opportunities. So, now, not only will reps who have the highest sales volumes get ranked at the top of the leaderboard, but those who are killing it on their prospecting activities can rise to the top. Incorporating these activities into the overall theme of the leaderboard means they are more likely to become a daily routine and not get overlooked.
Leaderboards are a great motivator and can improve morale throughout the company. Sales is a stressful job, known for its high burnout and turnover rates. A well-designed leaderboard provides daily reminders of past and current accomplishments. A breaking alert that announces when a deal is closed or even when someone’s met their quota for “Calls Made” can go a long way in keeping your sales team engaged and excited, especially during down periods. The key is to make the leaderboard as engaging as possible, so it acts as a constant positive reinforcement.
Customize Leaderboards to Fit Your Goals
Leaderboards are not one-size-fits-all items. In order to work effectively toward your team goals, leaderboards need to be tailored to suit your business. Whether you want to change its look, the KPIs it measures, or add other bells and whistles, it is important for the leaderboard to be reflective of the goals you want your reps to accomplish. Creating the ideal board can motivate better sales behaviors, leading to improvement in processes and lead to higher close rates.
The fun of leaderboards doesn’t have to stop at individual achievements. Expand the hoopla of leaderboards to celebrate team success. Display team progress to create exciting battles between the offices – perhaps an East vs West Coast type of thing. What’s more, you can create teams within your sales department if you got a large number of reps. Split your 100 reps into groups of 20, and you’ve got yourself a battle for “Game of Phones.” Whichever team makes the most calls by the end of the week gets crowned and a seat at the throne. Adding a team category is an excellent way to encourage collaboration and teamwork. Working together to meet a goal often boosts productivity and sales performance for everyone on the team. Lower performers who struggle to break into the top of the leaderboard on their own can do so as part of a group, allowing everyone to experience the benefits of gamification.
Leaderboards are an excellent way to keep abreast of what the sales team is doing whether you’re in sales or another department. With the visibility of leaderboards, management can instantly see who’s meeting goals and hitting quotas. Those in marketing or engineering can use leaderboards to stay up-to-date with sales progress, leading to better synergy across teams. A leaderboard can also encourage lower-performing reps to step up their game to rank higher.
Relate to Sport Events
There are plenty of opportunities to incorporate sport events into your gamification system. Why not bring the competition on the field to the sales floor? March Madness coming up? No problem — create team brackets with your reps and have a tournament. NFL Playoffs approaching? Create a playoff-style event with your team, and use the leaderboard to display results. A happy employee is a productive employee, and the more fun you can make the sales process, the better the sales performance will be.
Is Employee Ranking on Leaderboards Bad?
You may have heard that ranking employees is bad, it’s demoralizing, and it fails to account for intangibles. Handled correctly, though, employee ranking can be an excellent motivator, and using it for leaderboards is one of these situations. Here is a look at the benefits, especially for sales teams.
Sales is an environment that inherently lends itself to friendly competition. No matter the metrics being used, it is a huge boon to see your name at the top (or near the top) of leaderboards. And this motivation shows up in the results: for example, more outbound calls, higher-quality calls and increased follow-up.
More Fun and Motivation
Gamification technology makes even more fun and motivation possible. Suppose you pair this technology with the fantasy football concept and divide your sales team into, say, four fantasy teams. You can evaluate teams and players on factors such as the number of calls made to important leads and how many contacts resulted in prospects making in-store visits. By doing this, you rev up the competitive engines of your teams and drive incredible gains.
Everyone Has a Chance
One brilliant aspect to employee leaderboards is that everyone has a chance. For example, if a company ranks employees only once a quarter via traditional means, there are a mere four “winners.” Even if the company does it once a month, that’s only 12 winners, likely leaving out (and discouraging) a lot of people. With real-time employee leaderboards, companies can rank their sales staff daily and weekly. Every morning is a fresh opportunity to win the title, “Sales Hero of the Day.” New starts mean looking forward instead of being stuck in the past. You can also have several metrics in play at once. For example, you could have daily and weekly leaderboards for categories such as most high-priority lead calls made, how many appointments were made from these calls, which email campaigns had the highest click-thru rates, and so on. Thus, it is possible for more than one person to “win” each day and to shine in multiple areas throughout the weeks.
Sales Performance Issues Are Identified More Quickly
Another benefit to real-time rankings is that sales representatives and their managers can quickly learn from low rankings, and identify issues and performance metrics that need focus. Higher-ranking reps can help mentor the lower-ranking performers in their winning processes. An issue or bad habit that may have typically taken a year or more to become clear can, instead, become apparent in a matter of weeks.
Time Is Saved
Employee ranking on leaderboards saves time in several ways. Namely, there is the fact that employees are likely to play games (say, Solitaire) during work anyway. If they don’t, they are probably checking Facebook and personal email. There is, of course, some benefit to this behavior for many people, as it gives them a chance to decompress and take a break. However, these dips into non-work can become excessive, and competitive leaderboards reduce how many times someone needs to “escape” from work. They keep salespeople engaged with their work. All of these advantages come into play for the best results with proper design; otherwise, employee leaderboards can backfire or fail. Some aspects to emphasize include a continuing focus on teamwork, finding ways to pull up underperformers and choosing the right metrics. Many salespeople are internally motivated, and employee ranking on leaderboards is another way to tap into that motivation to keep the adrenaline coursing all day long.
6 Ways to Use Digital Leaderboards to Boost Employee Morale
An easy way to increase employee morale is with gamification. More than just a trendy buzzword, gamification is effective with sales teams and can be used to see a significant jump in sales performance and output. What’s more, this method is especially effective with the growing number of Millennials in the workforce.
Why It Works So Effectively with Salespeople
Salespeople are by nature competitive and focused on accomplishing a goal. Employers can use these positive traits to the company’s advantage while offering a fun, engaging way to build a team atmosphere in the workplace. Using digital signage or leaderboards in the sales bullpen not only amps up competition among coworkers, but it also encourages collaboration, especially between office staff and outside sales representatives.
What About Millennials?
Millennials, or Generation Y, are set to comprise 50 percent of the global workforce by 2020, so tapping in to what motivates them is smart. Since millennials, those who came of age around the year 2000, practically grew up using computers and playing video games, using gamification with them is a natural fit. Gamification is especially effective with this generation because it creates and maintains a stimulating work environment while offering near-constant work feedback in the form of their standing in a contest or competition.
6 Ways to Amp Results
1. Use Sports as Motivation
Use digital signage to create sports-like competitions that mimic an NCAA bracket. You can use the board to track team standings in real-time. Or, create a March Madness contest like StoneStreet Capital did that resulted in a 54 percent increase in outbound calls. Hoopla can create a sports-specific Sales Leaderboard channel that mirrors the look of ESPN’s SportsCenter.
2. Encourage Sales Staff to Fill in Required Data
People in sales don’t usually like to fill out paperwork (either long-hand or web-based) when they could be out in the field or on the phone closing a deal. Creating a competition that is tied to tasks such as tracking daily activity, recording sales calls made and the like will give employees the motivation they need to do these necessary but boring parts of the job.
3. Personalize it to Your Company
Create personalized, multi-tiered contests with various points assigned for tasks such as cold calls, pitching a sale, closing a sale and filling out the data fields. By doing this, employees see their scores and standings go up along the way, even if they’re not closing sales at the moment but laying the groundwork. This is especially helpful if some of your sales staff is new or taking over a new territory.
4. Create Employee Buy-In
Offer employees an up-to-the-minute look at how the company is doing at all times. A live leaderboard of the company’s stats helps create employee buy-in, which in turn helps to motivate employees to want to do their part to boost the company bottom line. In fact, Google has taken this a step further by replacing performance reviews with OKR (Objectives and Key Results), a method of tracking workplace objectives. Using leaderboards is an easy and effective way of tracking OKRs on a company-wide basis.
5. Bring Play into Work
According to an Inc. article, playing games at work – whether it’s a simple Ping-Pong table in the breakroom or an elaborate company-wide health competition – increases compromise between employees, helps people work as a team and leads them to compromise more. The online discounter FatWallet used gamification, such as Wii bowling matches or a Trivial Pursuit competition, to motivate employees. Scores and standings for activities such as these could easily be broadcast through leaderboards or digital signage.
6. Tie in to Real-World Events
Who says the competition has to be tied directly to sales? Use a real-world event like the Academy Awards or the NFL season to build morale. Just because it’s not directly sales related doesn’t mean employers won’t see real, tangible results. A happy employee is a productive employee. With these ideas of how to bring fun and games into the workplace, savvy employers can see an increase in employee morale and a boost to the bottom line.