Important key figures in sales
A lot is changing rapidly in the world of sales. We are dealing with new markets and sales channels, competitors and new products that are becoming increasingly challenging. Everything is “data-driven” today.
This makes it all the more important to have a good overview of the most meaningful key sales figures.
Which key figures are important for sales?
Which key figures are important for a company or project depends entirely on the industry and the defined goal. For example, the closing rate may be decisive for one project, while customer satisfaction is the most important indicator of success for another. Other important key figures are turnover, DB, market shares, up/cross-selling shares, lead creation/conversion or churn rates. There is no general rule as to which key figures should be used. Instead, it should be part of every sales strategy process to develop a suitable system of key figures. However, there is a recommendation to limit the sales KPIs to a maximum of 5-7.
Why do we need key performance indicators?
Key sales figures make it clear where things are going well in the sales process and where there is still room for improvement. Therefore, continuous monitoring of sales KPIs is also the key to ongoing optimization of sales performance. The increasing complexity and speed in sales makes it almost impossible to rely solely on gut feeling, intuition and experience. Key sales figures help to measure the extent to which the strategy is being implemented and which measures are successful. Based on sales KPIs, the sales process can be optimized and it can be ensured that the sales team prioritizes the right activities for the greatest success. What management measures in sales is what the sales staff will focus on.
Defining key figures for sales based on the sales funnel
The sales funnel is a strategic tool at the start of every sales development process. After all, it is the performance of the entire sales funnel that is decisive for sales success.
By looking at all phases in this way, problems and challenges can be assigned quickly and, above all, correctly. This makes it possible to focus precisely on those activities that are most effective for the company’s success and the defined goals.
The most important sales figures from practice
Visitor Lead Conversion
Lead-Qualified Opportunity Conversion
Qualified Opportunity – Customer Conversion
Lead to conversion rate
Length of the Sales Cycle and time per phase
quality and volume of Opportunities
What top performing companies do?
“Top performing companies” measure all these key figures on an ongoing basis. Sales managers can intervene, support and/or correct in good time and are therefore able to achieve maximum sales performance.