We are considering tracking sales in our business and within the company publicly displaying the performance of the team and each member.
What are good ways to implement this and is such a strategy recommended?
There are ways to visualize the sales funnel a few ways - If you use salesforce, there is an API to gather pipeline info and present it in whatever way you feel appropriate (how to properly display it is another topic).
There are also kanban type approaches like this that may be suitable for you. You need to strike a balance between repetitive tasks overhead (tracking the "call x clients every day" ) and the usefulness it provides. (here's an approach that tares out the daily tasks)