Sales KPIs are a key measure of a company’s growth and are used to track performance and the overall effectiveness of various revenue-generating activities within an organization. Many other metrics contribute to these numbers, and while tracking raw sales and other key figures can seem daunting, using effective sales dashboards will help provide a sense of your sales funnel, including key metrics such as Sales Growth, Customer Acquisition Cost, Cost Per Lead, Sales Cycle Length, and Lead to Sale Conversion Rate.
Creating a dashboard can help visualize, measure, and analyze data that will help lead to rapid, actionable insights as you better understand costs and leading indicators of growth activities.
Regardless of your industry, measuring your growth is an important indicator for your place in a specific market and your ability to capture market share. Additionally, sales metrics that track both costs and underlying activities, by salesperson, will help sales leadership better understand what KPIs to prioritize, and the relative performance of your sales department.
These metrics will help your sales teams work smarter, not harder, by turning your sales dashboards into custom, actionable analytic applications. With an advanced analytics platform for Data Teams, sales teams can connect to their financial reporting systems or CRMs to build, embed, and deploy analytics at scale.
Choosing the right key performance indicators is crucial and unique to your specific business objectives, and sales provide the most important measure of growth and market standing so that you can monitor your company’s success. Whether you’re calculating your costs per lead, average sales, or year-over-year growth, sales will help you assess the effectiveness of your core business goals and better understand buyer patterns in your industry.
To get you started, we will guide you through key sales KPIs, explain the importance of each one, when to use it, and key calculations to use.