Most sales CRMs or automation tools will provide you with colorful dashboards and graphs that show all kinds of information related to leads, deals, contacts and conversations in progress. But how do you use this data, big and small, to figure out how well your team is performing? In the old days, revenue or profit was used to measure performance. But, today, things are different. Many more aspects of the sales process need to be taken into account, including effectiveness to the sale-such as number of attempts, number of new leads generated, number of conversations and more. Here are some of the key metrics you should be measuring to review sales team performance.
You need to measure how your sales reps are stacking up against their targets and actual results. Look at the number of leads brought in each week/month/quarter, how many activities are allocated for each lead, how many convert and how many slip through the cracks. This can also help you identify whether your monthly and yearly targets are too aggressive or conservative. This allows managers to notice when reps need additional coaching or help to reach their targets. Comparing sales rep performance side by side means you can foster some healthy competition and motivation to the team.
New leads are added to the pipeline almost daily, but how many of those leads have gone on to become a new sales opportunity? Call effectiveness differs from activity goals; call effectiveness should show you how many calls have been made to each contact and how many calls it takes to get a meeting or appointment. Those who are making appointments quicker are performing better, and those who are taking longer to set an appointment might need coaching from the ones who are outperforming the others.
Meetings are nothing if they don’t help you move forward. It’s not enough to make a note of how many meetings a sales rep has scheduled or completed; you need to uncover whether those meetings were of value. Is the salesperson closer to the decision maker? Did they pitch effectively and give the prospect a reason to move forward? Have they given the prospect a reason to buy? If meetings aren’t moving towards a close, they aren’t effective. You need to measure whether your sales reps are gaining traction with each meeting.
Tracking activities, calls, meeting traction and call effectiveness becomes easier with Salesvue. Salesvue is native application on Salesforce, which integrates with the CRM to provide managers with real-time data on conversion patterns. With Salesvue, you will know the math of your company’s sales cycle. Imagine the possibilities that open when you know how many activities convert to conversations, opportunities and ultimately sales. Salesvue shows you, on average, how many calls/contacts it takes to get someone on the phone, how many conversations it takes to get an appointment, how well each individual sales rep is performing and how well the team as a whole is performing.
To learn more about figuring out how many times, on average, it takes to connect with a prospect. Download our latest white paper, “The Math of Sales: Your Formula for Sales Success,” by filling the form below: