Top Best Business Strategy to Increase Sales & Revenue [Infographic]

Data and metrics play an increasingly critical role in B2B sales – so it is only important for high-performing companies to take their ana...

Data and metrics play an increasingly critical role in B2B sales – so it is only important for high-performing companies to take their analytics to a new level in order to differentiate themselves from the also-rans.

However, to maximize the potential of analytics and the so-called Big Data, businesses must first identify which metrics they should focus on. One of the many pitfalls in sales is that most organizations spend so much time tracking and measuring metrics that they cannot control. Such a mistake can lead not only to wasted resources, but also unmet goals and even unproductive sales force.

According to research from Vantage Point Performance and Sales Education, there are at least 306 metrics that were considered critical by sales leaders. Their analysis broke these metrics into three categories, namely: Sales Activities, Sales Objectives, and Business Results.

Business Results, as the name implies, are the metrics that indicate the culmination of the entire organization’s efforts – including those from HR, Accounting, Operations, etc. These metrics are obviously not controllable as no sales agent could directly manage or influence revenue.

Sales Objectives, on the other hand, are sales metrics that could be heavily influenced by the upper management can easily set targets that the sales agents must meet. However, these metrics cannot be controlled either. This is because promoting products still requires consent from the buyers, and most customers these days are highly sensitive when it comes to sales.

The last classification of sales metrics is the activities that the salespeople engage in their day to day job. Of the three, this is the only metrics that can be influenced and controlled directly by the organization. Sales Activity metrics can include:

• The number of calls made.
• The number of emails sent.
• The number of conversations with customers.
• The number of social media interactions.
• The number of prospect meetings scheduled.
• The number of demos or sales presentation conducted.
• The number of referral requests.
• The number of proposals sent.

Unfortunately, many sales leaders do not know this. In fact, the study also revealed that 83% of companies surveyed said that they focus on measuring sales objectives and business results metrics – and only 17% are focusing on sales activities.

Focusing on where your salespeople actually commit their effort can give your sales performance a great boost in the long run. To learn more which sales metrics matter the most, check out the Infographic below from Kona Group.