Years ago I became distracted and sidetracked in my sales role. I could make an excuse for this (personal issues, too busy, and the list, I’m sure, would go on) but it doesn’t really matter. What matters is I made this critical mistake. I took my eye off my sales funnel and wasn’t constantly measuring my success week-to-week – that is to say, I wasn’t watching the critical metrics I need to hit. So are you wondering what happened? Well I didn’t attain my sales goal for that quarter and I was devastated. When I realized my mistake I quickly made the necessary changes to my system and now NEVER take my eye off the ball, so to speak.
Some key metrics that I use to measure my success are:
- YTD Sales – this sounds obvious, but most of the sales people that I start out working with don’t know this number at any given moment, and you must
- Funnel Value – the total value of all the opportunities or deals you are working on – and this number needs to be much larger than your sales goal (this is called your sales ratio – more on this in a subsequent blog)
- Sales Meetings/Week – you must have a target for the number of meetings you’d like to have each week with prospects and customers, and then of course track it
- Touchpoints – this is some sort of message that a prospect receives from you; that is, a voicemail, an email, a LinkedIn connection request, a note card in the mail, etc. – and of course this number needs to be much larger than the number of meetings you would like to have
- Networking Meetings – have a goal for this on a weekly basis and ensure you achieve it
I am happy to say that I got my sales results back on track and turned my mistake into a great learning experience for not only me, but my clients as well.
If you’d like some help determining your key metrics and then ensuring that you achieve them contact us at 416-520-4897 or at Linda@TheKernGroupInc.com.