If you have a sales team operating in your company to achieve the proposed objectives and increase sales, it is important to measure the performance of this work , that is, we must measure the sales KPIs.list_altIndex of contents
What is a sales dashboard?
What are sales KPIs?
How to choose your sales KPIs? Ask yourself the following questions
Choose your sales KPIs based on their ranking
Which tool to choose to measure sales KPIs?
Examples to create the dashboard and measure sales KPIs
The business world is very complex, especially when it comes to revealing growth Albania Phone Number List . It is normal for numbers to be everything to balance expenses and benefits, but we must not go crazy and we must know what to focus on.It is important to analyze what is the current state of the company at all times, what percentage of success represents the sales activities, what is the average customer acquisition cost, how we are progressing and how we can improve. How do we analyze all this if these factors do not go, precisely, in a straight line? The first requirement is to identify the sales KPIs that allow us to make better decisions and adjust our business strategies.
In order to monitor results and detect sales opportunities, possible improvements or failures, we must have a dashboard that provides us with optimal control. Do you know which one is the most appropriate for your company or what sales KPI are you interested in measuring in it? Keep reading!What is a sales dashboard?
A dashboard or sales dashboard is the graphic representation of the sales data, metrics and KPIs that we are interested in measuring and tracking. Everything we can extract from such data, graphs and reports will be very useful to improve the performance and productivity of commercial teams , track potential business opportunities and increase sales and revenues.This information should be able to filter by periods of time and draw conclusions in real time.Why are sales Betting Email List important?
Sales dashboards allow us to have real control of what we are doing and what is happening in our business. What works and what doesn’t. Where are we going wrong and we should focus on improving. Being able to foresee problems before they occur and solve them.To put you in context, I leave you an example below:
Imagine that this month in particular we are not reaching the objectives set or it seems that the opportunities that we have open are not going to advance in time to close the month successfully. If we foresee it in time, we can implement actions that help us promote these opportunities to close them on time and reach the objectives.On the other hand, if we do not control the state of the performance of the commercials or what data differs from the previous month, we will probably make a bad close and obtain negative or less optimistic numbers.Therefore, having a sales dashboard helps us make better decisions , have consistent analytics on the table and make much more accurate interpretations and forecasts.With a dashboard we all have an objective view of the same data. We work under the same information, which allows us to share learnings and reduce errors. Makes sense right?What are sales KPIs?Sales KPIs are the data with which we can assess the success or failure of the actions and activities carried out in this area . In this way, we can evaluate the performance of the teams and if their result corresponds or not with the goals proposed in the strategic approach of the company.The acronyms KPI correspond to the terms “Key Performance Indicator”, which, in Spanish, means “Key Performance Indicator”.
In general, any company uses KPIs, since they are units of measurement with which to keep track of the most important statistics, compare various variables and check if we are meeting our objectives, not only in the field of sales.
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What are the sales KPIs?
The main sales KPIs will depend on the business, the sector and other variables. However, below I will indicate which are the most used.
1. Number of business opportunities in the sales funnel
Analyze what is the quota of new accounts per period, taking into account both the data by individual sales agent and as a whole. This way you will know if it is close to your goals and what the sales figure is in relation to this data.
2. Sales volume
If you are an ecommerce that sells to different places, you should know in which areas you get more sales. It will be very useful if you want to do targeted promotions.
But, also, if you have a physical presence, it is convenient to know the difference between sales in this way and online. We can compare this KPI with the conversion rate.
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3. Conversion rate
It is the conversion rate from leads to sales or from qualified leads to sales that takes as a reference the total number of leads or potential customers during a given period. This rate can be applied to each vendor or to the entire team in general .
On the other hand, every how many leads do you close a sale? Thus, in addition to knowing the performance, with it we can detect if it is necessary to develop a strategy to get more qualified leads.
4. Cost of acquisition per customer (CAC)
How much do you have to spend on average to get a client? This figure refers to the leads that are converted to customers through the work of the salespeople.
5. Average ticket or sales rate of each seller
If there is a lot of difference between sellers, find out if the one who obtained the least sales had a lead of greater difficulty and / or value.
6. Sales cycle
The sales cycle is the time it takes to close a lead since the sales process begins. Do you know what the average duration is? You can compare this figure with the sales rate of each seller and see which sales cycle generates the greatest number of closings.
7. Customer Life Value (CLV)
It represents the total revenue that the company expects from a single customer, since not all of them behave the same, and not all salespeople make them do so.
With this sales KPI we can know the maximum allowable CAC and the general performance of an account administrator, since we can see to what extent it is involved to obtain such an amount.
I recommend you take a look at this article to deepen your understanding of this KPI.
8. Other sales KPIs
Leaks in the sales funnel: detect the stage in which there are more abandonments.
Number of new customer sales vs. recurring customers.
Rate of positive responses from potential customers versus negative responses when we contact them.