Metrics are important for any business to be tracking.
And, especially on a sales team, it’s critical to be using these metrics in order to help a business become successful.
So, what metrics should you track when it comes to your sales success?
Sales Metrics and Why They are Important
Sales activities are measurable by nature, making them easy to track with the right sales metrics.
Not only are these metrics crucial, because they directly impact your business, but they can show you underlying sales trends and help you grow your business to better equip your sales team.
Sales Metrics You Should Be Tracking
Some important metrics for commissions tracking and management for your business include:
This is one of the first places you could look at for your sales metrics, as it shows exactly how many clients on average your salesperson is bringing in over a certain period of time.
It’s the sales metric that can show you that something is amiss right off the bat. That could include things like your salesperson not closing properly with clients, or that they’re going after the wrong clients.
Sales Performance Metrics
Sales performance metrics are excellent ways at seeing how your employees are performing. This could include looking at how many sales a rep has made or how many sales have been won in a region.
It allows you to see which sales reps are over exceeding or underperforming, as well as see whether they’re working as a team if it’s by region.
Lead Response Time
Once a potential lead fills out a contact form and submits their information to your company, there’s only a short window of time left for you to contact them.
When you go back over this data, it’s important to see whether there’s room for improvement on getting back to clients faster and if there’s a way to make that process more efficient.
Customer Acquisition Cost (CAC)
This is an important metric to look at, as it breaks down just how much each customer you’re acquiring costs your business. CAC includes looking at the time the salesperson spent with the client, the cost of marketing, and more.
CAC can show you exactly how much each type of customer is costing, and whether you should start focusing on a different target market or even drop a certain demographic.
Sales Funnel Metrics
The journey of a lead becoming a customer is when they go through a sales funnel. Your sales funnel metrics will evaluate every step of this journey, from the marketing used to get the lead to that lead converting into a customer.
Here you can see at exactly what stage of the sales funnel your potential customers are dropping at, and go back and reevaluate that stage to see if any improvements can be made.
Start Tracking the Right Sales Metrics with Blitz
There are a lot of different things to consider when tracking your sales metrics for your team. With Blitz, we make that process just a bit easier for you by offering an all-in-one sales process for you and your team to give automated, accurate commission tracking. This lightens you load and allows you to focus more on your metrics and how you can continue to grow your business.