Sales Metrics You Should Be Tracking
As a business owner or team leader, it very important that you keep tabs on how your team is doing and how much you are selling. In order to see the big picture, you need to measure sales metrics – what is aiding conversions and how, who is buying from you, as well as which representatives are delivering. Here are a few things to consider:
While many factors affect overall sales in any given period, the number of leads you have is a significant metric. Anyone who may fit your target customer profile is a possible lead. After you study the market and identify your target market, then you can target the right leads and start the process of nurturing them to a sale. The more qualified leads you have, the greater your chances of generating more sales.
# of SALES ACTIVITIES
It is imperative that you keep track of all sales activities that you make made to your existing customers and prospects. You should also log the nature of the call or event – whether it was an in-person meeting, a phone call, or an email. Understand how your leads respond and which medium they seem to respond well to. When you zero in on how best to engage with your prospects, you can work towards a better success rate.
The most critical factor in a sale is the conversion, but there are different types of activities and leads throughout the conversion process: the number of leads that you have conversations with, the number of leads that you have a conversation with that you have a positive outcome or meeting with, and number of meetings that show up on the early stages of the forecast and number of forecasted deals that close. As each of these activities leads to another, that is considered a conversion. The most important conversion, however, is when the final communication in the process leads to a sale.
Look at how long it takes for the average activity to close and look at some of your fastest conversions. What can be done to speed things up?
Salesvue is a platform that helps you track everything you need to know about a sale. You can measure productivity and success rates, and do so according to industry, day of the week and even time. You can see which teams and representatives have higher conversion rates, and learn what they are doing right- which helps you implement new techniques and makes for better planning. If you are looking to increase success rates and up productivity, try Salesvue. Schedule a demo today.