This becomes especially true if your business is centered around sales performance!
1. TIME SPENT SELLING
Take the time to measure how much time your reps actually spend selling. All salespeople waste time, all the time!
2. LEAD RESPONSE TIME
Business today is moving at an increasingly rapid pace. The speed of response is key. Response within the first HOUR will net the best results.
3. MARKETING COLLATERAL USAGE
According to the American Marketing Association, 90% of prepared marketing content goes unused by sales. Maximize this with your team.
4. CLOSING RATIOS
Keeping track of closing ratios (lead/deal) can highlight how closings are happening. Closing ratios that are too low or too high can indicate issues.
5. AVERAGE PROFIT SIZE
One of the priorities of a sales manager is to ensure your reps are generating enough profits on deals, not just making sales.
6. SALES CYCLE METRICS
The average length of time it takes your sales members to close the deal is another aspect of measuring their performance.
7. COST OF SALES TO PROFIT RATIO
This sales performance measure rates the efficiency of the sales department. Total costs include salaries, commissions, & expenses for your sales organization needs to be factored.
8. YOUR SALES FUNNEL LEAKAGE
Sales funnel leakage monitoring is crucial to determine if holes exist in your sales funnel. Where those holes occur can isolate their source.
9. ACTION BASED METRICS
Not only outcomes but sales performance based on measurable assigned actions. The action-based goals for your sales team at large and/or for individual reps must be monitored.
10. EMPLOYEE SATISFACTION
While results and action-based metrics are indicative of the overall performance of your sales organization, it’s also important to measure employee satisfaction. Happier sales reps are more productive, plus they tend to better engage with prospects, convey their happiness and close more deals at higher profit margins. This is the ONE metric you cannot ignore.
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