KPIs for Increased Sales Productivity
Previously, I wrote about some high-level Measures for Sales Enablement. There is of course more to measure to understand the volume, velocity, and activity per sales rep, team, and segment (SMB, Manufacturing, etc.) so the Sales Enablement team can know where to focus their efforts. That’s where sales KPIs come in. KPIs that help to track and increase sales volume an be broken down into a few categories:
Volume-related Sales KPIs
- Number of leads generated
- Number of leads per source
- Number of sales qualified leads
- Number of deals that closed-lost per stage
- Track the reasons they were closed lost as well
Velocity-related Sales KPIs:
- Average days per stage
- Average days per won deal
- Average time in customer meetings per stage
Activity-related Sales KPIs:
- E-mail opens
- E-mail CTR
- Number of Meetings per stage and per type of meeting (Demo, ROI discussion, Sales Pitch, Discovery, etc.)
- Remember, this doesn’t even cover tracking which pieces of content or training might be influencing deals.
We want to track these sales metrics so we can identify:
- Where in the sales funnel deals stall or close-lost
- Which lead sources are the best, which are defined by wins and revenue generated.
- Which team or rep is taking longer than average at a given stage
- Which e-mail templates and content are working at which stage
- Better understand what a healthy pipeline looks like per rep and team
Are there any key metrics that you’ve found are extremely useful to pinpoint areas to improve sales productivity? Tweet @Xactly and your responses could be shared in a future blog post!
Definitive Metrics for Sales Compensation
US companies spend $800 billion a year on sales compensation. That’s three times more then they spend on advertising and $100 billion more than the government spends on national defense. Considering this, sales comp still remains one of the most difficult industries to understand, analyze, and implement.