How KPIs Affect Your Sales Performance

ANN ARBOR, Mich. - Feb. 10, 2023 - PRLog -- In recent months, we've written about pipeline(s), CRMs, and a common language for your sales team and its efforts. Let's take a look at the importance of KPI's – Key Performance Indicators.

A client we worked with a number of years ago was super-frustrated with the results they were achieving. Their sales had plateaued and had been stuck at the same level for about 6 months. This was not only frustrating, but unfortunate as they had a goal to increase sales by 25% and their efforts to do so were landing well short.

Analysis of their KPI's affirmed the effectiveness of their marketing, including that they had a good number of inquiries, phone calls, and web-generated inquiries.

So why were their results so lackluster? We then looked at conversion rates - from lead to client. When we did so, we saw that only 10% of their leads became clients, while the expectation was that about 40% should convert to client status. The process of converting a qualified lead to a prospect was faltering.

This led us to examine the exploratory conversation our client was having with a prospect. We recorded some of these calls and discovered adjustments that could be made. After implementing these adjustments, within 2 weeks our client achieved a real breakthrough result and closed 4 times their monthly revenue in the 2-week period following these adjustments.

Without these KPIs, a way to measure them, and review them, coupled with a defined sales process, it would have been much harder to detect the cause of their sales plateau and how to correct it. Are these elements in place for your sales success? What are your KPI's, how are you using them and what is missing that making informed adjustments is a reality? Are your KPI's specific to the needs of your sales team and its success? What adjustments could you make to enhance your sales management efforts, being able to assess what is and isn't working, or to drive performance and results for your organization?

Learn more: https://www.openbookselling.com/sales-process-kpis

About Open Book Selling: As business and sales coaches in Southeast Michigan, we've helped many local businesses get their sales process and efforts on track. If you're not happy with how your organization's sales function is doing, coaching can be a great option. This may be the perfect time to examine or re-examine your sales efforts, the process, stages, pipeline(s), language, and KPI's you're using. So don't wait - proactively evaluating your entire sales function will lead to better results. Contact us today!