Every salesperson knows the importance of tracking, testing and the measurements of different metrics it will help in the improvement of performance. There are different sales tools available for the measurements of tasks and performance but now question arises, which thing actually we need to measure, because this measurement will directly impact to goals of the organization.
As the CEO of Intradiem Matt McConnell wrote, “Even leading organizations can feel overwhelmed and have difficulty making decisions with the mass of information available”
Today in this article we are going to break down 7 important metrics of the sales that should be prioritized to boost your sales performance.
It is important to measure that how much your sales leads are the response of your online as well as offline lead sources. The ability to track or measure is not such easy but a vital sale metric. John Wanamaker said that:
“Half the money I spend on advertising is wasted; the trouble is I don’t know which half.”
So, for any company, it is important to know that whether their marketing team is properly working or now? How many clients are generated by help? And how could you rate their performance in the progress of your organization? It will surely help you out in knowing the flaws and their possible solutions too.
If you are measuring the average order value it will help you to evaluate the overall sales strategy. Basically, it will help you in developing the new strategies according to the goals of the organization and will evaluate that how strategies are working? What are the changes required to increase your sales?
It will change the focus of marketer in knowing about the improvement of the product qualities, AOV helps them to find out the best solutions for their client’s problems.
Management of sales pipeline is an important thing to drive revenue growth of your company. It allows you to determine the performance of your sales team members. It is a useful concept to measure the demand for your products and services. It will help you to work according to customer’s demand and creating a sales cycle for trustworthy results.
Sales pipeline will help you to figure out the lack points and the best possible solutions for the success.
In today’s business, the companies are more focused to generate the sales leads with online resources and response speed is the key. The lead response rate is a metric that should be top ranked and improved over time. Rapid response time can increase the performance of your sales team. It is a significant metric which needs to be measure because Peter Drucker says:
“If you can’t measure it, you can’t manage it.”
And if you are unable to manage it you can’t improve it. The lead response will help you to conclude what actually needs to be done for the improvement of your business sales.
Sales velocity is basically a measurement of how quick the business deals are closed or how quick the product is sold out. It is a measurement to estimate the calculation for sales. If sales velocity is higher the efficiency for the growth of your business is also higher. As Timo Rein has explained in Pando Daily article:
“Sales velocity is the average time deals stay in the pipeline before they are won.”
Lead Scoring is a significant component of the efficient sales process. Lead scoring is a technique of filtering the quality of leads. Lead scoring will help your sales team in different matters like:
Pipeline growth is an important factor to generate the sales revenue. It is important to keep the pipeline full and growing and will help the sales team to get chances to close more deals and generating new business because the sales team needs to drive business continuously, any dull movement can affect the growth and revenue of your organization.
You should choose the metrics that are valued to your team’s goals, they will surely help you in the performance of your sales representative.