8 Pipeline Metrics That Will Boost Your Sales
Sales quotas are relatively easy to track because these are opportunities that are won on a specific date, with actual dollars associated with each one. In a recent Quotable […]
Sales and Marketing Qualified Leads
Activity Tracking
Response Rate
Response Time
“The early bird gets the worm” is a common saying, and it holds true in sales. HubSpot reports 50 percent of businesses go with the first vendor to respond to their inquiry, so a fast response time is an important part of landing a sale. If your company is slow in this area, you can use Salesforce features such as automated responses and workflows, Salesforce Engage and Pardot to help your team address inquiries as quickly as possible.
Pipeline Stage Quotas
Although sales people have quotas on revenue they bring in they should also have pipeline quotas broken out by each stage. In my opinion this is the most important metric a sales manager needs to be watching as this will provide insight into what opportunities your sales people could be winning. The general rule of thumb is to place a pipeline quota of 3x revenue because generally sales people win about 30% of their opportunities. If you find that this figure is lower than you prefer, you can adjust sales efforts to make up for the deficit.
Closed – Won Accounts
This metric makes all your salespeople happy, as it indicates the accounts successfully won. These customers get handed off to account managers for relationship building, and the sales team may have opportunities to present additional solutions suited for their needs.
Marketing Content Usage
Which digital assets get the most use during the sales cycle? Your content creation team can focus on replicating the success of these pieces while looking for ways to improve underperforming assets. You can also discover if the sales team is overlooking content that’s well-received by prospects. They may not know how to match opportunities to the right pieces or lack appropriate access to these assets.
Ratio of Sales Cost to Revenue
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Also published on Medium.