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Sales data helps you capture the results of each individual salesperson and it all sits in the CRM. This the specific data underpins successful selling in your organization. Focus here and win.
For instance, Golf tracks greens in regulation, average puts, drive distance, number of fairways hit, sand saves and more. Without ever seeing how many tournaments a player has won, you can tell if they are a good golfer by simply looking at their data.
Businesses measure data. They look at profit margin, debt to income ratio, CAGR, year over year store sales, net profit, etc. It doesn’t take long to see if a company is doing well or not by this inforamtion.
It’s time salespeople use data too. I’m talking data that goes beyond quota. Quota only tells a small part of the story, like revenue to a business or games won or lost. To get to the heart of what’s going on, you need data and sales is no different.
What data metrics do salespeople need? Here are six game-changing ways to measure sales data.
How good is your sales rep at up selling? How quickly do they discount deals? How strong of a negotiator are they? Average deal size provides insight into how well a sales rep can maintain the integrity of pricing and drive greater value into the sale.
What
percentage of opportunities does the sales rep close? How effective are they
with the opportunities they receive? A higher winning percentage suggests an
impressive ability to qualify or add substantial value to the sale. High
winning percentages means less leads and opportunities wasted.
3. Average Days in Pipeline
Take
all the opportunities in the pipeline and add up the number of days they have
been in the pipeline, then divide by the number of opportunities. How
long do deals sit in the pipeline? Does the sales rep know when to
stop working a deal and close it? Is their pipeline stuffed with “stuff” that
just isn’t going to close? Is there a decent ratio between average days in
pipeline and average time to close? There should be.
How long does it take for a sales rep to close a deal from start to finish? Who on your team closes deals faster? Who takes longer? How do average time to close rates compare with quota attainment and overall revenue attainment? Are those with longer sales cycles selling more? Or are those with faster close rates selling more? Average time to close includes both wins AND losses. It’s designed to measure the amount of time it takes a sales rep to bring a buyer to the decision.
Who is best at building pipeline? Which reps are focused on new opportunities vs. closing existing opportunities? How many new opportunities are your sales people putting into the pipeline each month? NOP is a critical metric few salespeople consider. Knowing who is bringing in the opportunities is critical.
What does the pipeline look like from month to month? Who keeps it consistent, vs who see big shifts as they close, then prospect, then close? AMPS allows you to see who is capable of maintaining a strong pipeline while closing deals and driving revenue.
Imagine what you would learn about your sales team if your tracked just these six data points on every person on your team. Imagine the influence you could have on sales and the sales team. You will have a much better picture of where coaching is necessary.
Identify what key individual sales stats you want to track, and then start tracking them.
Jim Keenan is an international speaker, sales strategist, consultant, disrupter of the status quo, identifier of the elephant in the room and a sick “bump” skier. His consulting firm, A Sales Guy Consulting, is known for its ability to solve difficult, complex selling and leadership challenges locally and abroad. Keenan has been named one of the most influential sales and marketing people by multiple organizations including; Top Sales World Magazine. He's also been referenced in Forbes Magazine, Harvard Business Review, Business Insider, and many other publications for his straight, no frills, get it done approach to selling and making the number. Download as much Keenan magic as you want at A Sales Guy U.
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