When you hear the phrase “sales metrics,” what do you think of? Probably things like win/loss rates, quota attainment percentages, conversion rates, average deal size, etc.
Sales managers rely on those metrics and reports to guide their sales reps in processes to improve sales and increase win rates. It’s a sound strategy, but the execution is broken, and here’s why…
Traditional sales KPIs aren’t actionable.
Look at that sales metrics list again and you’ll notice something – each one is historical. They’re all rear view mirror results, looking at the past to identify what went well and what failed. This means that by the time you realize there’s a problem (low quota attainment, for example), it’s too late to fix.
Even worse, broad metrics such as win/loss ratios don’t tell you why you didn’t achieve the results you were expecting. Sales managers are left to guess at the reasoning behind low revenue or poor sales rep quota attainment. They have zero visibility into the specific activities that lead to the final closed deal.
You can’t effectively coach your sales teams on activities they performed three months ago. Telling your sales reps to “sell better” in the next quarter isn’t going to work. You have to coach sales reps in how to sell better. To do that, you need actionable sales metrics.
When you stop focusing so much on traditional metrics like win/loss ratios and number of pipeline opportunities, you can focus on the root of each problem – solving any issues before they start affecting your overall sales results.
Here are some examples of actionable, coachable, real-time sales metrics:
Number of calls made
Number of emails sent
Type of content being used
Different activities performed by A and C sellers
Amount of communication between reps and buyers
Buyer engagement levels
Current health of individual opportunities
Total time spent selling
Track your seller and buyer activity. Identify what your top sellers are doing well, then coach your low-performing sales reps in adopting those good habits. Analyze which content your buyers are impressed with and which presentations cause low engagement. Even better, break these statistics down by market segment – what works in one industry might not be as effective for another. See who is spending their time selling and who is focusing on time-wasting activities like entering data into CRM or searching for materials.
All of these behaviors and activities can be easily tracked within a sales enablement platform. Sales managers can leverage sales enablement software’s robust data visualization capabilities to quickly asses which reps need coaching and which sales strategies need to be modified.
No waiting. No guesswork. No lost revenue.
Schedule a 10-minute demo to see for yourself the powerful sales metrics monitoring and reporting capabilities.
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