KPI: sql to sal conversion
SAL – Sales Accepted Leads. It is important that potential buyers not only agree to receive information about the product, but fully accept the terms that the company dictates to them.
Examples of this KPI for a sales manager show that very often clients preliminarily approve an offer, but then simply “disappear” under various pretexts. Someone says that he needs to discuss the offer with partners, someone takes time to think about profitability, etc.
It is absolutely certain that work with them cannot be extended for a long period. Managers must additionally "warm up" their interest. By any means necessary, these people must be returned to the stage of active negotiations.
This KPI will show moj database existing gaps in the interpretation of the true needs, pains, problems of potential clients. It also perfectly demonstrates changes in the market. Perhaps the demand for the offered product has simply fallen and the current offer from your company is no longer the most profitable.
KPI: conversion of "sql into a deal"
The indicator displays data on those clients who not only accepted the terms of the transaction, but also completed it.
If we consider a target lead who has agreed to receive your commercial offer (Sales Qualified Lead) as your opportunity (Opportunity) to make a sale, then this indicator demonstrates the quality level of the sales technology developed by the manager. If the KPI is high, then the system is built perfectly.
The dynamics of this KPI should be monitored very carefully. It has a great impact on the efficiency of the sales manager.
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KPI in the Pipeline scheme for a sales manager
Pipeline is a summary containing specific data on each client. The list shows all stages until the deal is completed, the amount, the manager's contact information, the probability of closing the deal, the period of the purchase and other important data.
KPI: "transaction cycle length"
Sales cycle length is an important operational indicator of a firm's employee's performance.
The calculation takes into account the average time from the moment a potential client first comes into contact with a manager until the point when the deal is completed.
This KPI needs to be monitored because it clearly demonstrates the quality of the manager's work. It provides an understanding of whether the current sales process is effective and makes it possible to forecast future sales.
Having information about the leads in the Pipeline scheme and knowing the average length of the sales cycle, the manager can make a realistic forecast about the number of closed deals in the near future.
KPI: "transaction cycle length"
The length of the sales cycle is based on 3 key indicators. We are talking about the Sales Channel, the Product and the Lead Generation Channel.
The first indicator is able to identify the type of target client and, therefore, sales techniques.
The second indicator can determine the complexity of the deal. If the product is simple, then it is easier and faster to sell it.
The third indicator shows how potential clients learn about the advertiser's offer. If "cold calls" are used in the work, it will take much longer to conclude a deal than with incoming calls.
To calculate KPIs for different sales and lead generation channels, you need to divide the existing customer base into certain parts according to the specified parameters. It is appropriate to form sales funnels in several sections:
for cold calling;
for incoming calls;
under the sales channel;
by product type.