Seventy metrics. When the speaker told us that’s how many Sales Metrics he uses, I thought, maybe for you, but that’s too many for most of us.
Todd Youngblood (Author of “Think About It…”) was the guest at Michael Webb’s monthly webinar on sales process and performance.
He was giving a talk on how to sell process to your VP of Sales. The talk revolved around three principles, the second principle was about metrics:
Objective metrics – lots of them – are required to judge the quality, the amount and the pace of improvement.
Here’s the point Todd was making. The best players get to the top and stay there by making lots of measurements.
But I was sitting there asking myself, “Which are the really important ones? Aren’t there a critical few that I could start with?”
Fortunately, someone else in the audience had the same question.
In response, Youngblood suggested four metrics to start with:
- How many deals are in the pipeline at each stage of the Sales process?
- What is the dollar value of business at each stage?
- What percent of opportunities move from stage to stage?
- How long did it take for opportunities to move from stage to stage?
This list is much more manageable. It would help any Sales group answer the fundamental question: “Are we moving a larger number of bigger deals through the pipe in less time?”
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