Wow, well, we had a blast at Sirius Decisions Summit 2014. We’ve been flooded with visitors – it’s been great to see everyone!
Okay, now with that out of the way, let’s get to today’s topic: identifying sales metrics that matter to your company.
So, which metrics matter to your company are eventually up to you.
Take a look at a few important metrics, and see how they apply to your business:
1. Percentage of Sales Team Members Meeting Quota
Which organization doesn’t this metric make sense for? You always want to know who’s performing and underperforming. You also want to know why they perform the way they do.
Is it a process or procedural issue causing the underperformance? Is the issue caused by poor quality leads? Is it a staff training issue?
Don’t jump to conclusions that your underperforming sales team members aren’t good at their jobs (although that might be the case). Remember, it’s more costly to fire and hire than it is to modify processes or training issues.
2. Number of Sales Team Members Meeting 100% Quota vs Industry Average
Industries differ in terms of the number of sales reps able to meet 100% of their company’s quota. This can be based on factors outside of your control, like overall demand for your product/service.
For example, if there’s high demand for what you offer, your industry will have a higher percentage of sales pros who meet 100% of their quota.
Compare the members of your sales teams who met 100% of last year’s quota to the industry average, and you’ll get an accurate idea of how your organization performs as a whole.
3. Number of Dials Made Per Rep Per Week, Month, Quarter, or Year
Why does this one make sense? Who can really move their fingers to make the dial that much faster than the others? There actually can be significant differences within this metric.
And, the world of sales technology changes all the time. If there’s substantial differences between you and other companies, then you know they must have access to some sort of technology you don’t use.
4. Conversations per Week per Rep
This metric is similar to dials, and yes, you can have huge differences from one organization to the next. Large differences could reflect the way you approach cold-calling, the quality of your list, or again – technological barriers.
So in my eyes, those are some of the most important sales metrics to track at any company.
Oh, and a quick plug for CAS: RingCentral increased their dials from 400 to 2,500 per rep per week with our sales acceleration technology.
If you weren’t able to make it to Sirius Decisions Summit 2014, get a free trial of CAS here.