Using sales metrics is the key to gaining quantitative insights into the performance and results of a company's sales activities. It also allows you to measure the performance of your sales team, make data-driven decisions, and evaluate the impact of your implemented strategies.
Improving the performance of your sales team involves knowing the current status of the indicators, implementing improvement actions and monitoring. Find out below which sales metrics you can implement in your company.
What are sales metrics?
Sales metrics are business performance indicators. Also known as KPIs in sales, Key Performance Indicators .
These performance measures japan whatsapp number list quantify various aspects such as: the number of sales made, the value of the transactions, the conversion rate and the sales cycle time.
These indicators are very useful in the management of sales teams , because they allow monitoring the fulfillment of sales objectives, loyalty and other important aspects of the business.
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6 Examples of Sales Metrics
There are a large number of indicators and their importance depends on the needs of the company. However, the 6 types of sales performance analysis below will be very useful for you, regardless of the industry or category of your products or services.
1. Average customer cycle time
It is the time that passes from the moment in which a lead is contacted until the sale is closed, thus becoming a customer.
To calculate it, you need to take into account the time of each client, a figure that you can easily obtain through a customer management platform or by applying the following formula :
Average customer cycle time = Sum of time spent by each customer / Number of customers
For example, if you have 4 clients, with the following times: 3 months, 1 month, 5 months, 2 months.
Average customer cycle length = 11 months / 4 customers = 2.75 months.
So the average conversion time for my clients is 2.75 months.
2. Closing or conversion rate
This metric refers to the number of sales closed during a given period, based on the total number of potential clients or leads .