Sales metrics are the building blocks of a high-efficiency sales team. These performance indicators are computed from quantifiable data gathered from your sales pipeline. Unearthing and analyzing hidden data insights from these systems allows sales folks to implement a selling strategy based on root data/KPIs, rather than gut feelings or surface data.
Managing sales data has been proven to increase performance and close deals faster. Are your reports tracking the right metrics?
First and foremost, what is your monthly booking total vs. monthly goal/target? By rep or territory? With a daily understanding of where one sits compared to target, sales people should appropriate the 1st part of the day (or week) on deals that have the best chance of closing this month.
This sales KPI allows visibility into all pending potential sales deals.
Like the monthly bookings insight, sales teams can dedicate initial time in those deals that have the best chance of early close. Sales folks can also concentrate the appropriate resources to help move those deals along quickly.
This particular KPI is incredibly valuable to gauge the future health of the pipeline. Focusing on closing immediate deals is definitely at the top of priorities, but what about the longevity of pipeline health?
Are outside reps and inside reps utilizing their time effectively and efficiently to ensure opportunities will be available 3 or 4 quarters out?
It’s one thing to make 100 calls and send 100 emails in a day. But how many of those activities have led to open opportunities?
This is a very important KPI to help manage the entire sales funnel. Knowing the ratio of deals won vs. the total number of leads allows team to see where the sales process may require some attention. Did certain time periods yield a higher percentage? What were the factors involved? A high percentage during a certain time frame could illustrate the best source of leads or perhaps the best sales strategies and practices in winning the deals.
Understanding this particular KPI helps unify the efforts of sales and marketing teams; both striving towards the common goal of faster wins, revenue.
One of the most impactful KPIs is how many Discovery Calls and DEMOS are being conducted each week (by REP). This is the data that directly affects the conversion of leads to real opportunities. Sales managers should set realistic weekly targets that support the revenue goal. How many demos are needed to fill the sales pipeline by 3X, 4X, etc.?
What the best sources for these particular leads? A clear understanding of this KPI will insure the future success of each individual rep or territory.
Want to learn the strategy of using all of these KPIs together? Get the white paper! This in-depth guide shows users the step by step process of linking these KPIs together to make smarter, data-based decisions with their Salesforce Data.
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