7 KPIs for modern sales
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7 KPIs for modern salesCategory: Sales
Sales teams are the driving force behind your business. Top performing sales teams are adapting to a competitive, accelerated business environment by being data-driven.
Everything in sales is measurable, and that's good, because anything you can measure you can improve!
The top KPIs for modern sales teams and sales executives are:
Is a KPI that measures the ability of your sales team to increase revenue over a fixed period of time. Without revenue growth, businesses are at risk of being overtaken by competitors.
2-Monthly new leads/prospects:
This is a KPI that depends on the nature of your business and objectives. New leads can be people who sign up for a free trial, who visit your website and spend a certain amount of time without yet ordering anything.
3-Lead to sale conversion rate:
Lead-to-sale conversion rate is the percentage of new customers compared to new leads. Conversion rate KPI shows whether your sales team is capable of turning prospective deals into a real business, to improve your lead-to-sale conversion rate, this can be done by providing better sales materials and offering a greater benefit to the prospect.
4-Cost –per –lead:
Everything that your team does to attract new leads costs you money through advertising costs, web design or social media management , … all these should be taken in consideration on calculating per lead cost.
5-Lifetime Value of a Customer (LTV):
What is your customer worth to your business over the lifetime of your relationship? Measuring through revenue and gross margin and this can be automatically tracked by CRM.
6-Customer turnover rate:
It shows how many clients decide to stop using your service or product. It is normal to lose some clients but don’t let them go without analyzing the reasons behind their decision.
7-Customer engagement level:
it’s important to know how engaged your clients are to avoid their turnover, and this issue could be solved by CRM.