A bird in the hand is worth two in the bush. A penny saved is a penny earned. Honey attracts more bees than vinegar. All of these phrases are commonplace to any sales professional. Lessons in closing deals, hard-balling negotiations, and practicing sincere salesmanship are all valuable tools for successful sales performance. But what about this age old adage:
What you don’t measure, you can never improve.”
Every sales function — from the Sales Development Reps sourcing a deal, to the Account Executives closing it — has evolved it’s own set of metrics that most accurately reflect sales performance and predict success.
For example, a Sales Development Rep’s calls-per-day may be indicative of their likelihood of achieving their lead sourcing numbers, but the same metric would not be the best way to measure the sales performance of an Account Executive trying to close a deal over a long sales cycle.
But juggling all of the metrics available for each and every step of the sales process can be overwhelming. That’s where the right sales solution comes in — helping you track all of the data points to reflect sales performance effortlessly.
Salesloft was built for the modern sales team, which means sales analytics are at the core of every feature and function. And we created our newest eBook, “The Essential Guide to Sales Analytics” to help improve the sales performance of sales teams worldwide.
We started with the basics, and moved onto intermediate sales analytics, but now we’re ready for the deep cuts. The Advanced Analytics. These metrics are the hardest to track, but offer the most detailed insights into your sales performance:
Prospecting Sales Performance Analytics
Outbound Calls by Time of Day. This is the total number of outbound calls an individual rep makes, segmented by time period.
The Value? Outbound call activity by time of day gives sales reps insight into their most productive time of day. It also gives managers the opportunity to identify trends that can impact success. For example, top performing reps may be reaching decision makers early in the morning when they tend to be more available.
Calls-to-Appointments Ratio. This is the percentage of calls that result in booked appointments.
The Value? This metric helps you to understand which reps are best at booking meetings and which need work in that area.
Dials-to-Deal Ratio. This is the total number of dials divided by the number of deals that close as a result of those dials.
The Value? This metric shows the correlation between a rep’s calling activities and the deals they are actually helping to close. It gives you a macro view of how reps’ activities are impacting your bottom line.
Analytics for Deal-Closing Sales Performance
Dial-to-Opportunity Percentage. This is the percentage of dials that result in new opportunities.
The Value? This metric shows how much effort is needed to create an opportunity. Once you understand effort you can also assess how efficient your current team is on the phone.
Average Opportunity Age. This is the average number of days that your opportunities have been open.
The Value? This metric provides insight into the health of your pipeline. If your average opportunity age is high, your reps may be working opportunities that are too old and have gone stale.
Sales Performance Analytics
Customer Acquisition Cost (CAC). This is the Sales and Marketing cost required to acquire a customer.
The Value? CAC gives you an indication of how efficient your Sales and Marketing departments are working. Lowering CAC often correlates with increases in net revenue.
Customer Lifetime Value (CLV). This is the average revenue that is won from new accounts.
The Value? Predicting how much revenue can be earned from each customer is crucial to understanding the true value of your closed deals, as well as your ability to accurately forecast future revenue.
Win Rate by Campaign. This is the percentage of won opportunities by campaign.
The Value? This metric is the most straight-forward method for assessing the effectiveness of a sales campaign.
Pipeline Inflow vs. Outflow. This is the total number of new opportunities that come in each month compared to the total number of closed opportunities.
The Value? The sales pipeline is continually in flux. You need to be creating enough new opportunities to balance out the old opportunities that you are closing in order to maintain a healthy pipeline.
From beginners to veterans, we’re presenting you with the metrics that matter most to you, in language that’s easy for you to understand. That means your entire sales organization, from Sales Development Reps to Sales Directors, have access to the data they need to improve sales performance and assess their progress toward success.
Sales organizations have always been data-driven. Today’s sales organizations take that analytical heart, and scale it to the entire team, putting analytics to work for every team member and at every stage of the sales funnel.