Sales KPIs are essential for a company’s managers to be able to monitor the development and execution of a company’s sales actions.
You can use KPIs in different situations and sectors of a company and they allow you to have a broader and more strategic view of everything that is being done in the company to increase the number of closed deals.
However, defining the best sales KPIs can be very confusing, so in this article, we are going to present some tips on how to define sales KPIs for your company.
What are sales KPIs?
KPIs are an acronym from the English that means Key Indicator Performance, translating as key performance indicators. That is, it is a tool to measure whether certain actions or strategies are achieving the goals expected by the company.
In general, they can be implemented in different business sectors, such as finance, marketing, HR, IT and others, to analyze all aspects related to operation and management. For the commercial department, it is no different and, therefore, there are specific KPIs for sales.
Thus, it is possible to follow in numbers the performance of all the strategies used for prospecting clients, closing deals and expanding the portfolio and verifying whether the results are compatible with the goals.
From there, managers are able to know exactly what is working, what needs to be improved, bottlenecks in operations, errors, and other aspects.
And the numbers collected make a total difference here, since the analyzes need to be based on real data that demonstrate, for example:
- How the sales campaigns took place;
- If the opening rate of prospecting emails is positive;
- If sales reps’ cold calls are driving responses and meeting appointments;
- If the cost-benefit of each action is worthwhile
- Between others.
It is even important to highlight that, according to the Content Trends survey, companies that periodically monitor strategies say they are 50% more successful than those who do not monitor them.
How to define sales KPIs for your B2B company?
The possibilities of sales KPIs for B2B companies are immense and many companies can get lost and confused with which indicators to use when measuring the performance and results of their commercial team.
Therefore, we are going to present some tips on how to define those indicators that make the most sense with your needs and your company.
Basically, to define a KPI correctly, it is necessary to consider 3 important points: the company’s strategic objectives, customer satisfaction and measurement methods.
Company’s strategic objectives
The first thing you need to consider is what goals your company wants to achieve with these processes. With this in mind, it is possible to identify which are the best strategies that will allow your company to achieve these goals.
Let’s take an example, a technology company wants to find and attract more customers. A great strategy to achieve this is through attraction marketing and the creation of content for blogs, email marketing, social networks, newsletters, etc.
By defining this strategy, you already begin to have some notions of important indicators that will allow you to measure your results.
Another important point to consider when defining sales KPIs is customer satisfaction. You need to find ways to measure whether or not your customers are enjoying your services.
Continuing to use the previous example, one way to measure whether customers are satisfied with the content you are offering is through the numbers of shares, likes and comments that the post receives. Or even, the number of people who contacted your company because of this content.
Way to measure these results
Finally, it is extremely important that your company is able to measure these results. There is no point in thinking about super complex sales KPIs, but when it comes to collecting this information, it is not possible to find them.
Count with ASB Marketing to increase your sales
If you want to implement demand generation strategies in your business, it is of paramount importance to start with planning.
In this scenario, understand your audience, online behavior, preferences and, especially, make an analysis of your competitors and current demands of the market.
Then understand how your sales process works and what characteristics need to be changed to meet your ideal customer profile.
In addition, it is essential to keep in mind that demand generation does not only occur by paid media, on the contrary, inbound marketing actions (attraction marketing) and demand generation generate very advantageous results for organizations when well employed.
Finally, you can count on an experienced marketing and sales company to support the implementation of these strategies, such as ASB Marketing.
With the best innovative methodologies and tools, ASB Marketing finds its ideal customer and qualifies them through fully automated and personalized email cadence.
When the lead arrives at the purchase decision phase, we only passed on to your commercial team to close the negotiation. With this, we guarantee increased sales, reduction of trade cycle, cost optimization and support in long -term business expansion.
Do you want to know more? Go now and see how ASB Marketing can help your business!