How do you measure success
Here is a list of sales metrics that you can measure. There may be some here that you have not thought of. Do you Know how much you invest in sales and what the return on investments are? There are a lot of metrics that you can measure and some of them may not be for your particular business, due to your market or channels.
Having a good understanding of the metrics can help you to develop your sales strategy so that your focus is on the deals that provide your business with the return on investment you are looking for. It may be the difference between success and failure.
I have worked with a lot of businesses that do not effectively measure some of these metrics and when we finally look at them it dramatically changes their approach. It may change your focus when you realize the cost associated with each metric. You may completely change your business focus to a more profitable business model, focus on upselling, cross-selling, customer retention, channel to market, the profile of your perfect client, value proposition or even your talent mix.
Having these measures available to your sales team can also create a culture of ownership and responsibility. If you can decide which metrics are the key indicators of success for your business you can use these to drive your focus as a business. With all of your staff focused on achieving these outcomes, there becomes a real purpose.
How many of these do you measure? Are these some you haven’t even considered before? If you did measure them would it improve your understanding of the return on investment?