If you aren’t using KPIs then you’re probably living in the dark when it comes to your sales performance.
Key Performance Indicators (KPIs) are metrics and tracking methods that your sales team can use to reach incredible goals.
You can’t make educated decisions when it comes to honing your marketing plan without sales KPIs. If you’re struggling to come up with some for your company, then you’ve come to the right place.
We’ve gathered together some KPIs that you may be forgetting about as part of your overall plan. These can help you gain a better understanding of how your marketing plan is currently working and what ways you can improve it.
1. Qualified Leads
As part of any sales plan tracking leads is a given. Increasing your number of leads is probably your goal. However, if the leads aren’t taking the desired action or aren’t valuable then you don’t want to waste your time pursuing them.
Determining who your qualified leads are, depends on your target audience and past research. But once you find the right indicators you should invest in spending more time on them rather than wasting your team’s resources.
2. Follow-Up Meetings
If you want to see which of your sales leads are most effective in their pitch, then tracking the number of follow-up meetings for each can help improve your team. When a client has a great first meeting, they’re going to want to meet again.
It’s clear to see who is making the right first impression. Determine what they’re doing differently and share the knowledge and skills with your other reps.
3. Facebook Pixel Events
When it comes to tracking your web leads you can add Facebook pixel events to certain pages and categorize them. For example, you can track the number of hits on product pages or on blog posts.
Once you’ve organized your pages you can then see what areas of your website need to be better optimized. Are viewers having a hard time finding the product they’re looking for? How long do they stay on these pages?
These pixel events will allow you to make smart decisions when adjusting your website’s pages.
4. Average Sale Amount
A vital metric that your business should be tracking is the average amount of money you are making off of sales on a daily basis. It’s as easy as dividing the total number of sales by the gross revenue.
This will help you track your income as well as be able to review the year and see areas of improvement.
5. Sales Team
Don’t forget to track your sales team too. You should stay aware of the retention rate of your sales team employees. If you have a high turnover rate, it can incur additional costs.
Track the amount of time it takes to refill a position. Even though you can’t always control how long it will take to fill the position, it’s important to have reasonable goals about how the length of time can affect revenue in the upcoming months.
Lastly, you can track the percentage of quota that your reps are achieving. This can be used as a motivational tool among reps and well as a way to track future revenue.
Value of Sales KPIs
These are just a few of the many sales KPIs that your business can use to reach new goals and find hidden opportunities for your sales.
Looking for more helpful tips for your marketing plan? Discover new ways to take your sales team to the next level. Check out our blog!