Top Sales Metrics June 2019
At Rekener, we've compiled a glossary of sales metrics. These KPIs help sales leaders manage their business and get better performance from their teams and reps by driving them in the right direction.
Our metrics glossary describes each sales metric, what it's used for, some example calculations, and also how to calculate it using Salesforce or HubSpot CRM data. We generate a fair amount of web traffic of sales leaders coming to our site to learn how to calculate these KPIs for their teams.
We decided to take a look at which ones are most popular, as measured by the total amount of web visits. Below are the top 15 sales KPIs based on their web traffic in June 2019. Just click on any of the metrics to get an overview of it, as well as how to calculate it. For some context, most of our customers are SaaS businesses, and so you could think of this list as the top sales metrics for SaaS businesses. But most of them are also relevant for other industries as well.
Top 15 Sales KPIs - June 2019
- Lead Conversion Rate - Top of funnel metric that measures the percentage of leads that convert to opps.
- Pipeline Coverage - Measures a rep or team's pipeline as a ratio against quota.
- Sales Velocity - A super-metric that combines Opp Generation, ASP, Close Rate and Sales Cycle.
- Sales Cycle - Measures how long it takes for deals to close.
- Stage Conversion Rate - Tracks the percentage of opps that move from one stage to the next.
- Stage Duration - Measures how much time opps are taking in each stage.
- Cohort-based Lead Conversion Rate - Measures the percentage of lead cohorts that convert to opps.
- Dollar-based Renewal Rate - Retention metric that tracks how many dollars you keep, per dollar expiring.
- Forecast Coverage - Measures a rep or team's forecast as a percentage of quota.
- Lead Response Time - Measures how long it takes for a rep to follow up with a lead.
- Lifetime Value (LTV) - Super-metric that measures the full value of a customer over its entire life.
- Average Sales Price (ASP) - Efficiency metric that measures the average size of deals being closed.
- Sales Velocity per Opportunity - Similar to normal sales velocity, but more focused on the efficiency of each opp.
- Closed Funnel Close Rate - Measures the percentage of opps that sales reps are winning.
- Account Coverage - Top of funnel metric to track the spread of sales activity across accounts.
The top 3 metrics of the month were Lead Conversion Rate, Pipeline Coverage, and Sales Velocity. These are 3 powerful metrics, and if you're able to effectively track all 3, they provide great instrumentation for your business.
Tracking Lead Conversion Rate will alert you if the quality of your leads is declining. Pipeline Coverage will help you assess whether you've got enough opportunities in the tank to hit your quota, or whether you need to focus on prospecting more pipeline. And Sales Velocity helps you understand whether you are efficiently closing that pipeline at a great enough speed, and large enough size. Tracking Sales Velocity trends over time is extremely valuable, especially if you're investing in new market segments.
We are always adding to our sales metrics glossary, and if there's a metric that's not in our list that you really want more information on, let us know!
We work with some of the best and fastest-growing sales organizations in the world. For a free data-driven sales assessment by one of our data-driven sales experts, schedule some time with us. We'd will get to know your business and make recommendations for a framework and some metrics you can use to get better performance from your team.
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Greg is COO and Co-Founder at Rekener. Greg’s career has been focused on using data to grow recurring revenue businesses. Before joining Rekener, he served as VP of Operations at ZeroTurnaround, where he built its strategy and operations practice, ran its customer success and renewals function, helped to grow and coach its high-velocity sales organization, and optimize its marketing efforts. Prior to that, he ran the BizOps and marketing functions for the AVOKE call center analytics business, a SaaS company within BBN Technologies. He got his start using data to improve sales and marketing efforts while at AppNeta.
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