The plan titled "Identifying the Best Metrics for Contractor Visits by TSM" focuses on optimizing the TSM (Territory Sales Manager) contractor visits. Metrics such as the "Number of Contractor Visits" and "Contractor Visit Satisfaction Rate" are essential as they help assess the effectiveness and efficiency of these interactions. For instance, reaching the benchmark of 50 visits per month ensures consistent engagement with contractors, while a satisfaction rate of 85% reflects positive interactions.
Moreover, metrics like "Average Duration of Visit" and "Cost per Visit" provide insights into the efficiency and financial prudence of these visits. Ensuring visits are succinctly managed within 30 minutes at a lower cost of $100 per visit can help streamline operations. Lastly, the "Contractor Conversion Rate" of 10% is crucial for measuring the impact of these visits on business growth, indicating how many contractors are converted into clients or partners after meetings.
Top 5 metrics for Optimising TSM Contractor Visits
1. Number of Contractor Visits
Total number of visits made by the TSM to contractors within a specific period
What good looks like for this metric: 50 visits per month
How to improve this metric:- Increase the frequency of visits
- Use scheduling tools for better time management
- Prioritise contractors based on business volume
- Combine visits with other nearby meetings
- Set specific visit targets for each TSM
2. Contractor Visit Satisfaction Rate
Percentage of contractors satisfied with the visits as reported in follow-up surveys
What good looks like for this metric: 85% satisfaction rate
How to improve this metric:- Provide training for TSM on communication skills
- Tailor visits to contractor needs
- Gather feedback after each visit
- Address contractor feedback promptly
- Offer incentives for high satisfaction ratings
3. Average Duration of Visit
The average time TSM spends on each contractor visit
What good looks like for this metric: 30 minutes per visit
How to improve this metric:- Plan visits with a standardized agenda
- Identify time-wasting activities
- Streamline in-visit processes
- Utilise technology for efficient information access during visits
- Review and revise the visit process regularly
4. Cost per Visit
The total cost incurred for a TSM's visit divided by the number of visits
What good looks like for this metric: $100 per visit
How to improve this metric:- Optimize travel routes to reduce expenses
- Use digital communication when possible
- Monitor expense reports regularly
- Negotiate travel rates with vendors
- Set travel budgets for TSMs
5. Contractor Conversion Rate
Percentage of contractors converted to clients or partners after TSM visits
What good looks like for this metric: 10% conversion rate
How to improve this metric:- Follow-up promptly after visits
- Provide special offers for new contractors
- Analyse visit data to identify effective strategies
- Refine sales pitch based on feedback
- Conduct role-play sessions to improve conversion skills
How to track Optimising TSM Contractor Visits metrics
It's one thing to have a plan, it's another to stick to it. We hope that the examples above will help you get started with your own strategy, but we also know that it's easy to get lost in the day-to-day effort.
That's why we built Tability: to help you track your progress, keep your team aligned, and make sure you're always moving in the right direction.
Give it a try and see how it can help you bring accountability to your metrics.
