How do you hold your Staff including your Management Team accountable for their actions? By developing and setting Performance Standards.
Just what are Management Standards? Let's refer back to the car business. Let's say you want to sell 100 cars a month. The next question is what will drive the customer into the store to buy a car? We will assume that this dealership markets solely on the internet. This has become the market trend for this industry anyway.
Knowing this we can start to make a Management Standard.
By using rough numbers
50% of all customers will walk in to by the car without contacting the dealership first (Floor Customers)
25% of all customers will use the Internet to send an Inquiry first (Internet Customers)
25% of all customers will call on the Phone and talk to someone before coming into the store. (Phone Customers)
These percentage will change due to the manufacturer, but for this comparison we'll use these percentages. At The Cure Consulting Services we try to keep thing as simple as possible.
Now let's set the Standard for Walk-in customers (Floor Customer). We know that the average car dealership will close a floor customer between 20% and 25%, so let's use 25%. To sell 50 cars the dealership will need 200 walking customers for the month.
Internet Customer is the same formula only with a lower percentage and let's use 10% (which is horrible by the way). So to achieve 25 car sales they will need 250 internet leads.
Phone Customers same formula again only with a different percentage of 15%. To Achieve 25 units for the month this dealership will need 170 calls roughly.
So the store needs to have 620 prospects to achieve their goal of 100 units.
Now you can drill down into these numbers even further with Workflows and Process Maps.