As the founder of modern management, Peter Drucker, once said, “What gets measured gets improved.” Without a set of sales KPIs (sales metrics) and an effective system to track and monitor them, a sales team is operating without knowing where the goal posts are.
Every business is different. There’s no one set of KPIs that works for everyone. However, there are a few rules that companies can use to help them select the right ones for them. We even offer our Ultimate Strategic Planning Guide filled with effectiveness metrics to get you started for success. Learn More
Lagging indicators consists of output or outcome metrics, such as month to date revenue, profit, and deals won, labor cost per unit (no); essentially anything that is a result.
While lagging indicators are necessary, they have some limitations. It’s why they are often paired with leading indicators, which are behavioral measures.
While it’s tempting to track everything, it can lead to confusion. The more KPIs you have, the more difficult it is for your staff to know which to prioritise.
When setting KPIs, keep it simple. Less often leads to more. For example, focus primarily on four KPIs:
The SalesStar methodology powered by Membrain* includes a pre-configured CRM and sales enablement system, including e-learning, process guidance and how-to's, which will help your salespeople execute best-practices to consistently take prospects from the first contact to close.Learn More
We welcome business leaders who are frustrated with their current sales performance to contact us to arrange a free consultation with one of our sales development experts.