You can’t manage anything you can’t measure. Metrics are important in every aspect of business, but they’re especially crucial in sales including growth marketing.
Growth marketing is a long-term approach that focuses on creating customer relationships and encouraging loyalty; it’s a strategy in which authenticity and engagement generate advocacy and naturally expand customer lifetime values.
Because they’re working with a large volume of data and a high risk of loss, sales managers can’t depend on intuition to make decisions.
Related: What Is Lead Nurturing And What Are The Right Tactics?
Sales Facts And Figures
Selling metrics are statistics that describe an individual’s, a team’s, or a company’s performance in growth marketing. They assist in measuring success toward goals, planning for future development, adjusting sales compensation, offering awards and bonuses, and identifying any strategic challenges.
Related: What Is Lead Nurturing And What Are The Right Tactics?
You might be wondering what kinds of sales data are accessible and which ones you should keep an eye on growth marketing.
In the sections below, we’ll go over some of the most important indications that your firm should monitor. The sections listed below have been added to the list:
- Sales Performance Management (KPIs)
- Sales Metrics for Action
- Pipeline Selling Metrics
- Metrics for generating leads in sales
- Sales Promotion Metrics
- Primary Converting Metrics
- Sales Performance Metrics
- Sales Performance Metrics
- Recruitment Metrics for Sales
- Acceptance of the Selling Process, Tools, and Training
Sales Performance Management (KPIs)
These sales KPIs are crucial for evaluating the company’s overall performance.
The total amount of money made from all business and sales operations, including all goods and services, is referred to as overall sales.
Revenue per product or service is the amount of money earned per product or service.
The quantity of clients you have in relation to the total number of potential consumers in the market is referred to as market development.
Related: Lead Generation: Can It Be Useful For Your Products?
Revenue from new businesses as a proportion of overall revenue: This metric shows how much money you make from new clients per month or quarter.
Revenue from existing customers as a proportion of overall sales: This comprises revenue from pass-and-up sales to existing customers, as well as recurring purchases and increased contracts.
Revenue increases from year to year: This metric compares revenue from one year to the next.
The average customer lifetime value (LTV) is the total amount of money a company may expect from a single user or customer over their tenure with the company.
The Net Promoter Score (NPS) is a metric that determines whether a customer or user would recommend your business to a friend.
Number of sales lost as a result of the competition: This metric, which can be obtained through a win-loss analysis or a client survey, shows how much money you’re losing to your competitors in growth marketing.
Revenue by territory refers to the amount of money made from sales in a specific area.
Revenue by market refers to the amount of money made from sales in a specific vertical.
The cost of selling, often known as selling expenditures, is the amount of money you and your company’s sales personnel spend to advertise the product. This indicator is most useful when expressed as a percentage of total sales.
Related: Lead Generation: Can It Be Useful For Your Products?
Activity Selling Statistics
These sales metrics provide you a look at what salespeople do on a daily basis in growth marketing. Because activity indicators are “manageable,” salespeople may have a direct influence on them.
Assume that one of your salesmen is falling short of his or her quota. When you examine their activity statistics, you’ll discover that they aren’t sending enough emails to generate the required number of calls. You have no control over how much this salesperson sells, but you may tell them to send out additional emails each day.
- The number of: is one of the activity measures.
- There were phone calls made.
- Emails were exchanged.
- Conversations
- Social network connections
- Arrangements for meetings
- Demonstrations or sales pitches are both acceptable options.
- Requests for recommendations
- Proposals were sent out.
Active sales measures are key indicators. In other words, they predict your final results.
Related: What is sales training?
Sales Metrics for Inbound
These KPIs can help you figure out how healthy your sales funnel is. They can help you figure out what is and isn’t working in your entire sales process.
To better understand the data, you should track the following indicators over a specific time period, including growth marketing such as the current quarter. You should also examine the statistics by team and by individual.
The time it takes for a lead to progress through the sales funnel and become a closed-won transaction is known as the average duration of a sales process.
Total open possibilities: This refers to the total number of open deals for a team or an individual.
Total won transactions closed: This is the total number of won transactions that have been completed.
Pipeline’s weighted value: This measure depicts the projected worth of agreements as they progress through the pipeline.
Total sales value: This is the revenue obtained solely and directly from sales operations.
Annual subscription value (ACV): ACV refers to a contract’s annual revenue.
The win rate is the proportion of completed agreements to the total number of deals. It can be evaluated as a group or as an individual.
The conversion rate refers to the number of leads who convert at each stage of the sales funnel. It may be evaluated both as a group and as an individual.
Related: What is a sales funnel?
Lead Generation Sales Metrics
What are your salespeople’s prospecting abilities in growth marketing ? Use these methods to find out.
- The number of new opportunities added to the pipeline and how often they are added
- Time it takes to respond to a lead on average
- Percentage of leads that were followed up on
- The proportion of leads that were followed up on within the targeted time range (for example, 8 hours) (for example, 8 hours)
- The number of leads dropped by a specific proportion.
- As a proportion of total leads, the number of qualified leads
- Customer acquisition costs (CAC)
Metrics for Outbound Sales
Some of the indicators in this category are unlikely to have any bearing on your company in a growth marketing. The predicted average rate is a better indicator of your salespeople’s success than the average email open rate if they solely target prospects they’ve met at trade shows.
Email Marketing Metrics
- Rates are available.
- Percentage of persons who replied to the survey
- Percentage of persons who are actively involved (link clicks, webinar attendance, video plays, etc.)
- The percentage of people who advance to the next level.
Sales Metrics for Phones
- Call-backs
- The percentage of leads that agree to talk to you.
- Proportion of candidates who advance to the next round
Social Media Metrics are a set of metrics that are used to measure the effectiveness of
- Connection requests on LinkedIn are accepted at a high rate.
- Email response rate
- Percentage of potential social media users who advance to the next stage
- Conferences, trade shows, and other get-togethers
- The total number of meetings that have been set up.
- The number of qualifying opportunities produced
Primary Conversion Metrics
- In this part, you’ll concentrate on opportunity metrics.
- Percentage of opportunities snubbed
- Percentage of missed opportunities (no decision)
- Percentage of opportunities squandered as a result of a contest
- The proportion of opportunities won as a result of a lead source.
- The average number of conversations for obtained opportunities is
- The average number of conversations for lost opportunities is
Sales Metrics for Channels
- These numbers can help you fine-tune your channel sales strategy.
- Profits from joint ventures as a whole
- Partner’s earnings
- Profits for partners
- Average deal size by partner
- The amount of partners that achieve their sales targets.
- The total amount of new possibilities that partners have developed.
- The amount of eligible chances added by partners
- There are a number of chances in the works with partners.
- Transaction velocity (the number of days, weeks, or months it takes for a contract to be closed/won or closed/lost) is a measure of how quickly a deal is closed/won or lost.
- Partner customer retention rate
- The average bridge and upsell rate among partner clients
- Client satisfaction among Partnership clients is on the rise.
- Number of collaborators total
- The number of new partners has grown in the recent month, quarter, or year.
- In the recent month, quarter, or year, how many partners have left?
- On average, how long does it take to find, onboard, and attract fresh partners?
Sales Productivity Metrics
Sales productivity is the rate at which your salespeople reach their revenue targets. A salesperson’s productivity is determined by how quickly he or she reaches his or her quota.
To evaluate how productive your reps are, use the following metrics:
- As a proportion of total time, time was spent selling the product or service.
- Time spent manually inputting data as a percentage of total time
- As a fraction of overall time, time spent generating content
- Percentage of salespeople who use promotional materials
- The average number of sales tools used on a daily basis is
- The percentage of high-quality leads that were pursued.
- Replacement costs for salespeople, broken down by role.
- It’s also critical to keep track of onboarding figures.
Boost Your Sales
Sales ramp-up time is the average amount of time it takes a new salesperson to become fully productive. It may be used to make hiring and firing decisions, as well as set expectations for new salespeople and provide more realistic sales forecasts.
It may be computed in a number of different ways. CRMs commonly compute the time required to attain 100% quota achievement, which you may use to create a ramp. If a salesperson typically takes four months to meet 100% quota, your ramp-up period would be four months.
There are both leading and trailing indications in sales in a growth marketing.
To anticipate and assess ultimate results in sales, leading and lagging indicators are employed.
Those who are ahead of the curve in terms of indicators
A leading indicator forecasts your outcomes in a growth marketing. To put it another way, it reveals you where you’re going while you still have time to change the result. While leading indications are more difficult to evaluate than trailing indicators, they are also more easier to manipulate.
Late-comers to the game indicators
A trailing indicator displays your final results.
Instead of being proactive, they are reactive. For example, a lagging signal may be your team’s quota achievement at the end of the month. It’s important to create a sales plan to improve the outcomes after discovering the lagging indications.
Leading and lagging indicators are used in SaaS sales analytics. These metrics, on the other hand, are not the same as the KPIs we described before.
Quantitative Means Dashboard
A sales metrics dashboard is a visual representation of sales data and analytics for your firm. A variety of data and displays are available for your sales executives and salespeople to watch, evaluate, and act on.
Track Sales Metrics To Increase Efficiency And Growth.
To ensure that your team is on track, it’s critical to maintain track of sales KPIs. If you carefully pick which ones to prioritize and then course-correct (or even completely pivot) accordingly, you’ll be ahead of the game. You’ll be able to keep track of your progress, fulfill your sales goals, and boost your profits.
Track Sales Metrics To Increase Efficiency And Growth.
To ensure that your team is on track, it’s critical to maintain track of sales KPIs through growth marketing. If you carefully pick which ones to prioritize and then course-correct (or even completely pivot) accordingly, you’ll be ahead of the game. You’ll be able to keep track of your progress, fulfill your sales goals, and boost your profits.
