Gamification Software

        Motivation comes as the second benefit. When people perform the same job for years, excitement and motivation wear off over time. They can try to motivate themselves in various ways, but none bring the most optimal results. Gamification has a way to keep everyone motivated and engaged with every task and helps employees complete them with less stress and even more success.       

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How To Measure Your Sales Performance Management?

Sales managers and leaders are overwhelmed by too much data that needs to be analyzed. A never-ending list of reports, metrics, and data make it almost impossible to analyze everything. In order to measure your sales performance management successfully, you need to focus on the key things.

There are several Key Performance Indicators (KPIs) that are used in measuring performance, and in this post, the 3 of them will be discussed.

They include conversion rates, average deal size, and customer acquisition cost vs. lifetime customer value.

Conversion rates

A poor conversion rate indicates the waste of money, time, and resources on sharing the wrong information or connecting with the wrong people. A conversion rate represents a return on investment. High conversion rate means you invest in prospects who value your service or product, and a low conversion rate tells the mark is missing in the sales process.

To calculate a conversion rate, the formula below is used:

Conversion rate = (total number of converted customers /total number of sales prospects)* 100

Calculating conversion rates can help to:

- Determine your funnel’s weak points: a drop between the phases of the sales process indicates that leads don’t get the right information

- Spot high and low performing employees

- Identify a start and a close date for every deal: in order to grow, the conversion should happen in a timely manner, so you need to track the average conversion time.

Average deal size

An average deal size can help determine the amount of money each deal brings in, so stronger strategies to sell more efficiently can be created.

To calculate the Average Deal Size (ADS) the following formula is used:

Average deal sale= total monetary value of deals within specific timeframe/ total number of deals within the same timeframe.

Knowing the average deal size can help identify risky leads and determine if your contracts are staying consistent, growing, or shrinking.

Lifetime customer value vs. customer acquisition cost

To achieve growth, sales teams successfully nurture leads into customers and convinces the existing customers to make more purchases. To keep a business sustainable, the number of how much you earn from the purchases your customers make must be higher than the number of how much you spend to acquire customers. The costs of attracting new customers than keeping the current ones are higher but the old customers spend more than new ones.

Knowing the Customer Lifetime Value (CLV) to Customer Acquisition Cost (CAC) ratio helps in assessing the prospects’ quality of prospects and whether or not you meet customers’ needs.

The formulas used for determining CLV to CAC ratio is:

CLV= average purchase value per year * average customer lifespan in years

CAC =total sales spend during a period of time/ total customers acquired during that time

Breaking down CLC and CAC ration will help you know where you find your best prospects and customers, the CAC payback period helps in identifying how long it takes your customers to pay back acquisition costs you’ve made and the customer churn rate helps you check how fast you lose customers so you can find better strategies to acquire new customers and replace the lost ones.

In order to grow, it is important to measure sales performance management so leaders can know the weak spots and determine new strategies that will lead to improvement by reinforcing the desired behavior so every person on a sales team can work on meeting business goals.

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Payment Switch Architecture Is Important For Enterprises

Growing needs of buyers demand constant changes in the payment system. To meet the needs of potential customers and grow their markets, they have to update old payment systems and offer new options. To know more about the Payment System click here:- https://bit.ly/2Gkw90w

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Gamification Software As A Service (SAAS) For Corporates

For a few years now, some of the most successful corporates around the world have seen their businesses thrive due to the newly implemented software.

Gamification Software-as-a-Service (SAAS) for corporates has helped employees become motivated, engaged, achieve better personal results and help their company meet business goals. There are many vendors that provide the service of gamifying a business, with software designed to meet the specific goals of each company.

This post discusses the benefits of gamifying a business, how it helps boost employee engagement, motivation, and performance.

More motivated employees mean a positive transformation of the business, and the creation of a healthier work environment in any company.

The first benefit and probably one of the most important elements why gamification brings success is the feedback your employees receive on a regular basis for each task they complete.

When every task is tracked and measured, an employee can see his/her results. What was done well? What needs improvement? Feedback highlights the weak skills of each employee and gives solutions on how to improve. To keep track of their performance, employees receive points which are shown on leaderboards, which helps them compare their results with the ones of their colleagues.

Motivation comes as the second benefit. When people perform the same job for years, excitement and motivation wear off over time. They can try to motivate themselves in various ways, but none bring the most optimal results. Gamification has a way to keep everyone motivated and engaged with every task and helps employees complete them with less stress and even more success.

With gamification, successful employees are easily recognized on leaderboards and praised by their managers and other superiors. Being the best in a team keeps everyone motivated to keep that status. Others, like in any game, try to climb up the scale and beat the rest. They are aware that to achieve it, they must improve their performance. Having regular feedback and ways how to improve, brings motivation to keep learning and perfecting their skills.

Closely related to motivation is recognition. As mentioned above, employers have an insight into each employee’s performance and results. Recognizing their hard work, praising and appreciating it make employees feel better about their workplace. They know that they’re no longer just robots, or invisible to their superiors. When their work is acknowledged, it is less possible to lose motivation.

With specifically designed software that tracks employee performance to point out what needs improvement, different learning strategies and training are created to meet the needs of each individual. Gamification provides a learning platform that is interesting and easy to use.

Employees can learn new strategies and improve skills on their own, during the time they feel like doing it, while employers have an insight into their learning progress.

Having motivated and fully engaged employees in a healthy work environment makes them not only improve their own personal results but also to meet the goals of their company. What one must be careful about when deciding to gamify business is choosing the right software. It depends on business goals, employee profiles and the type of business.