Measuring Sales effectiveness is a critical component of a Sales leaders goals, so I have listed down some metrics that will be useful to make sales measurement more heuristic.
1.Total Pipeline Volume : One of the most easy & straight measurements, measuring pipeline volume from a lead, this component gives you an idea of how big is the sea actually.
2.Time to Close : This is the next level of the conversion rate is the conversion time, or how long it takes you to move from the initial acquisition of the lead to closing the deal.
3.Opportunity Profitability Value : This helps you determine how much that lead may ultimately be worth to you and your company. so you would need to do the math like this
((Deal Value for Qualified Lead) x Customer Retention Rate) x Average Conversion Rate
4.Win Rate : This is the percentage of leads that convert to actual sales.
5.Referrals : Referrals are a key source of income for many businesses, and you ought to be finding ways to track when a lead originates via another person.
6.Retention Rate : It’s important to know how long your customers stick around once you’ve got them.
7. Transaction Value : This involves in taking the total value of all of the sales and purchases by a single customer in a fixed timeframe, and dividing that by the number of purchases they make overall.
8. Cost Per Lead : Assessing the cost per lead means identifying the the total investment in translating that opportunity to a win.
If you want some perspective on how you or your company needs to enhance their Sales/Client Management Capabilities, please email me at shubhanjan.saha@gmail.com
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