Key Performance Metrics in Sales – Manage What You Measure
Key Performance Metrics: A Linkedin, Sales Best Practices Group, Discussion
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Which KPI is best, number of sales or conversion?
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Charles Kalmar • It has to be conversion. Anyone can make a lot of sales if given a million leads. But at the end of the day it is the conversion rate of these leads that is important. The agent that converts 40% of these leads vs the agent that only converts 30% of these leads will make room for greater growth for your business. Higher conversion equals larger sales numbers…
Managing KPIs or metrics, ideally is done using a number of key metrics, each metric critical to the efficiency of the sales process and the sales outcomes.
There ideally should be an aggregated, interactive tool, for sales leaders and individual sales contributors.
The critical key metrics are:
(1) Conversations to Appointments
(2) Appointments to Evaluations
(3) Evaluations to agreements
(4) Monthly Quota
(5) % of Quota
(6) Average Deal Size (revenue per deal)
(7) Turnover (management tool)
You need these key metrics for new hires (include ramp time to quota) and existing individual contributors
An interactive KPI tool set will not only allow sales leaders to manage what they measure (metrics and reps to their key metrics), but empowers individual sales reps to manage their business, by managaing their individual KPIs
Here is a recent article published by CSO insights identifying the necessity of KPIs and KPI management for sales leaders and individual sales contributors
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