Do you know how many steps you’ve made today? If you’re not tracking them with an app, you most likely have no idea.
If you’re trying to be fit, this may be one of your most important KPIs. And what if you’re a sales rep?
Many teams are struggling to determine what sales KPIs they should be tracking. The number of phone calls they’ve made? The number of actual sales?
We know it can be challenging to select sales KPIs that will give you the right idea of where you stand. That’s why we’ve picked the top 7 KPI examples for sales teams that will help them track their work more accurately and achieve better results.
Sales KPIs to Track
To create more sales opportunities, you need to monitor critical KPIs that will tell you if you’re on the right track with your sales process. You can monitor these KPIs weekly or monthly, and here’s our selection of the 7 most important ones.
1. Call-to-Meeting Conversion Rate
By tracking this KPI, you can ensure that your sales reps have the necessary skills and tools to turn a phone call into a meeting with a prospective customer.
2. Number of Qualified Leads
For many sales experts, this is the most important sales KPI to track. To avoid wasting your time and energy on leads that don’t have real value, you should be able to determine whether a lead is qualified or not and then decide if you’re going to allocate resources in further communication with them.
3. Number of Follow-up Meetings
We recommend tracking the number of follow-up meetings because it says a lot about the value of the first meeting your sales rep had with a lead.
4. Lead Response Time
How fast do your sales reps follow up with their leads? Tracking this KPI can help you discover if there’s something you can do to improve the follow-up process.
5. Call-Show Rate
Even if you schedule a call, people may not show up. If you track your call-show rate, you can find out if your pitch is enticing enough to get people to show up for your call.
6. Sales Stage Conversions
It’s usually not enough to track the opportunity only by whether it’s won or lost. By monitoring the stage-to-stage process more closely, you can find out where your sales reps get stuck.
7. Deals by Acquisition Channels
For this KPI to help, marketing and sales teams should cooperate. It can show you what channels your best customers come from, so you can focus your marketing efforts on them in the future.
8. Repeat Sales per Channel
You may already know that retaining old customers costs far less than acquiring new ones. Monitoring your repeat sales per channel KPI can help you sell more with less effort.
Boost Your Sales with the Right KPIs
One of the first steps towards picking the right sales KPIs is determining your revenue goals and calculating the number of deals you’re supposed to close to hit that goal. When you know what your goals are, you can work on the KPIs that can lead you to those sales goals.
By tracking the KPIs you’ve chosen, you can determine more accurately where hiccups happen in your sales pipeline and create an actionable plan to resolve them.
About Spencer Grover
Spencer is the product marketing manager at LevelJump. He comes from the world of content and loves helping B2B SaaS companies find exactly the right people who love a product, and figuring out exactly how to tell that product story so it resonates and compels action. You can find him on LinkedIn.