Eldon Broady

4 Sales Metrics That Matter

Measuring sales success is an important way to see how your team is doing and what can be improved. The best way to keep track of sales success is by outlining what metrics matter most. But what are those metrics and how do you keep track of them? We'll fill you in on some of the metrics that matter most.

Opportunity Wins

One really important sales metric is opportunity wins. This lets you see how often team members are able to close a sale based on how many opportunities they get. So if someone has 10 opportunities to sell to someone, and they close 3 of them, then that's a 30% win rate for that set of data. Of course, it's usually better to look at larger numbers when it comes to this metric. Also, you can look at these numbers as a team to see how the sales team is doing overall.

Sales Cost

Something companies need to do is keep track of their sales cost ratio. In this metric, you need to add up all the expenses it costs for someone to make a sale. This includes salary, commissions, travel expense, client expenses, and anything else it costs to close that sale. You then compare this number to how much money you get from the sale. If this ratio is leaning too far toward the sales cost, then you know things need to change. Doing things like tracking commissions in Salesforce, cutting down on expenses, and more might need to be done to skew the ratio back in your favor.

Monthly Sales

You'll want to keep track of how many sales your team is making per month. This will give you a good picture of how your company is doing overall. Do you make more sales during one season than another? Is your monthly sales rate slowing growing over time or has your team hit a plateau? Measuring this metric can help you get a hold on what you need to do to ensure the long-term growth of your company.

Tracking Commissions in Salesforce

Another thing you can do is make sure you're tracking commissions in Salesforce. When you're tracking commissions in salesforce, you'll be able to see who top performers are, make decisions on who to give bonuses to, and see other ways you can incentivize employees. Using a commission system is a great way to track commissions in Salesforce if you don't have one. To learn more about tracking commissions in Salesforce, click here.

No matter what metrics you use to measure success, make sure you have the tools you need to stay on top of them.

Author Resource:-

Eldon Broady writes about business software and services like commission tracking platforms, softwares etc. You can find his thoughts at sales commission blog. Click here for more information on commission automation.