Everything you need to know about your company's sales KPIs

Key quotes:

• "We all understand the whole mantra “you can’t improve what you don’t measure” and know the benefits of tracking sales activity."
• "That leads us to our blog series on Sales Activity Tracking, outlining sales activity management into industry-specific KPIs and metrics."
• "And it goes without saying that the key selling activities differ according to industry and your sales organization."
• "Another important piece of the puzzle is to try to measure activities that really work for your sales team."
• "Let’s say you have 100 reps on your team, the final numbers would be: Want to save some time from the actual calculation? And as we’re all running against a timeline, keeping track of your KPIs performance lets you know how far away from the target your team is, and what should be done in time to fix."
• "One of the easiest ways to clearly communicate your KPIs and sales goals to the team is through visual reports."

Key quotes:

• "KPIs help you measure the success of your efforts and determine where you need to make changes."
• "It’s estimated that about 50 percent of small business owners fail to identify any key performance indicators."
• "On a basic level this KPI will give you an idea of your business income less expenditures over a period of time."
• "By analyzing the discrepancies between these numbers you can determine how your business is performing towards it’s revenue goals."
• "This can be calculated using the following formula over a given period of time: (total amount spent acquiring new customers) / (number of new customers) = (Customer Acquisition Cost)."
• "Customer Churn Rate (CCR): This metric measures the percentage of customers that fail to become a repeat customer or discontinue service during a period of time."

Key quotes:

• "Business metrics, or Key Performance Indicators (KPI’s), helps in making a successful business and product launch, marketing promotions, making sales and planning for the future."
• "To make your work easy, I have collected the most important business metrics that can help you get started without wasting your time."
• "This metric is a simple count of how many prospects showed interest to buy your product and helps in calculating the conversion rates."
• "This is a helpful measure to know what time your sales team takes to close a prospect and gives a brief picture of the sales department’s progress."
• "This is the most important business metric for your sales team."
• "This will tell how much your HR team costs to your business and you can analyze the overall picture by making a comparison with the other HR metrics."

Key quotes:

• "What do individual, team and organizational sales performance really look like? But when you’re measuring important sales metrics, performance-tracking is straightforward."
• "Without other important sales metrics, you’re unable to diagnose the problem behind that KPI’s shortfall."
• "To effectively lead your team and company to success, you need to know the following."
• "This opportunity would likely never be identified if you lead your team based on KPIs alone."
• "Compare it to the “sales by lead source” metric to better understand the ROI on various sales channels."
• "Be informed on appropriate: When you know important sales metrics like this, you’ll better allocate resources because you know your true ROI on those investments."

Key quotes:

• "There are many Sales KPIs that can help you measure and improve your business."
• "This sales KPI measures the progress of your sales revenue on a monthly basis."
• "This KPI helps to assess the profit margins across the suite of products and services."
• "Setting up sales targets help keep you and your sales team focused on achieving your goals."
• "It determines how much time a sales employee or the whole team spends on pursuing an opportunity."
• "The first step toward improving closing ratios is to target marketing efforts to bring in better-qualified leads."